@AfricaNews

Zimbabwe gets its first billionaire | Africanews

5 months ago, 14 Jan 00:18

By: Daniel Mumbere

Telecom tycoon Strive Masiyiwa has become Zimbabwe’s first billionaire. According to a report by Forbes, Masiyiwa, 57, is now worth $1.7 billion, a fortune sufficient to rank him along other African billionaires like Nigeria’s Aliko Dangote. The Forbes 2018 List of the Richest Africans confirmed that Dangote is still the richest man on the continent with a fortune of $12.2 billion. His investments in cement, oil and fertiliser production have paid off. #Dangote sole #Africa-n on #Bloomberg ’2017 50 Most Influential People’ #Nigeria https://t.co/7VB0×7rqYD Masiyiwa controls Econet Group, a Zimbabwe-listed mobile phone company that also has investments in financial services, insurance, e-commerce, renewable energy, education, Coca-Cola bottling, hospitality and payment gateway solutions. Econet also has a Pay television outfit, Kwesé TV, which is already competing favorably across Africa with Naspers’ DSTV. In July last year, Liquid Telecom, a subsidiary of Econet Group successfully raised $700 million in a bond and term loan financing package from international financiers. The Forbes list of 23 shows that Africa’s richest individuals hail from 8 countries; 8 from South Africa, 6 from Egypt, 3 from Nigeria, 2 from Morocco and one list member each from Algeria, Angola, Tanzania and Zimbabwe. The list has only two women; Isabel dos Santos, who is worth an estimated $2.7 billion and Nigeria’s Folorusho Alakija whose estimated $1.6 billion fortune lies in oil exploration firm Famfa Oil, which is partnered with Chevron and Petrobras on a lucrative offshore oil field. The youngest billionaire in Africa hails from Tanzania. At age 42, Mohammed Dewjihas a net worth of $1.5 billion having inherited and expanded a textile and edible oils group from his father. Forbes tracks the wealth of African billionaires who reside in Africa or have their primary businesses on the continent. The net worths were calculated using stock prices and currency exchange rates from the close of business on Friday, January 5, 2018. To value privately-held businesses, Forbes couples estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies. Africa’s Billionaires
Read More


Category: africa africa_business business topnews news

Suggested

30 minutes
@AfricaNews - By: Africanews
Stop exploiting Africa, share resources, Pope tells Europe | Africanews

Touching on the reasons for hunger in Africa, the pope said that “in our collective unconscious there is something inside us that says Africa must be exploited.” ...

Category: africa news
4 hours ago, 15:48
@AfricaNews - By: With Jeremiah Fisa ...
Ivory Coast: ruling coalition member rejects proposal for unity | Africanews

Ivory Coast's Democratic Party, a member of the ruling coalition rejects proposal to form unified party ahead of the 2020 presidential election. Party comes in opposition against President Alassane Ou ...

Category: africa topnews news
6 hours ago, 14:16
@AfricaNews - By: Africanews
Malian soldiers implicated after mass graves found | Africanews

The statement from the Malian Defence Ministry followed local media reports that 25 bodies had been found in mass graves after a military crackdown on suspected jihadists and allied ethnic militia in ...

Category: africa topnews news
5 hours ago, 14:46
@AfricaNews - By: Africanews
South African economy projected to grow in 2018 | Africanews

The South African economy is expected to recover from a bad start this year, thanks to increased growth in the rest of the world. ...

Category: africa topnews news
5 hours ago, 14:36
@AfricaNews - By: Daniel Mumbere Wit ...
South Sudan president Kiir departs for Ethiopia ahead of peace talks | Africanews

Tens of thousands of people have been killed in the civil war that broke out in late 2013 when troops loyal to Riek Machar, the former vice president of South Sudan, launched a rebellion against the g ...

Category: africa topnews news
10 hours ago, 10:05
@AfricaNews - By: With Jerry Bambi
Africa Convergence Conference to hold in Dakar | Africanews

After the success of its second edition held in Casablanca in September 2017, the Africa Convergence Conference opens its third edition in Dakar from the 21st to 22nd of June 2018. ...

Category: africa topnews news

@AfricaNews

Zimbabwe gets its first billionaire | Africanews

5 months ago, 14 Jan 00:18

By: Daniel Mumbere
Telecom tycoon Strive Masiyiwa has become Zimbabwe’s first billionaire. According to a report by Forbes, Masiyiwa, 57, is now worth $1.7 billion, a fortune sufficient to rank him along other African billionaires like Nigeria’s Aliko Dangote. The Forbes 2018 List of the Richest Africans confirmed that Dangote is still the richest man on the continent with a fortune of $12.2 billion. His investments in cement, oil and fertiliser production have paid off. #Dangote sole #Africa-n on #Bloomberg ’2017 50 Most Influential People’ #Nigeria https://t.co/7VB0×7rqYD Masiyiwa controls Econet Group, a Zimbabwe-listed mobile phone company that also has investments in financial services, insurance, e-commerce, renewable energy, education, Coca-Cola bottling, hospitality and payment gateway solutions. Econet also has a Pay television outfit, Kwesé TV, which is already competing favorably across Africa with Naspers’ DSTV. In July last year, Liquid Telecom, a subsidiary of Econet Group successfully raised $700 million in a bond and term loan financing package from international financiers. The Forbes list of 23 shows that Africa’s richest individuals hail from 8 countries; 8 from South Africa, 6 from Egypt, 3 from Nigeria, 2 from Morocco and one list member each from Algeria, Angola, Tanzania and Zimbabwe. The list has only two women; Isabel dos Santos, who is worth an estimated $2.7 billion and Nigeria’s Folorusho Alakija whose estimated $1.6 billion fortune lies in oil exploration firm Famfa Oil, which is partnered with Chevron and Petrobras on a lucrative offshore oil field. The youngest billionaire in Africa hails from Tanzania. At age 42, Mohammed Dewjihas a net worth of $1.5 billion having inherited and expanded a textile and edible oils group from his father. Forbes tracks the wealth of African billionaires who reside in Africa or have their primary businesses on the continent. The net worths were calculated using stock prices and currency exchange rates from the close of business on Friday, January 5, 2018. To value privately-held businesses, Forbes couples estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies. Africa’s Billionaires
Read More

Category: africa africa_business business topnews news

Suggested

30 minutes
@AfricaNews - By: Africanews
Stop exploiting Africa, share resources, Pope tells Europe | Africanews

Touching on the reasons for hunger in Africa, the pope said that “in our collective unconscious there is something inside us that says Africa must be exploited.” ...

Category: africa news
4 hours ago, 15:48
@AfricaNews - By: With Jeremiah Fisa ...
Ivory Coast: ruling coalition member rejects proposal for unity | Africanews

Ivory Coast's Democratic Party, a member of the ruling coalition rejects proposal to form unified party ahead of the 2020 presidential election. Party comes in opposition against President Alassane Ou ...

Category: africa topnews news
6 hours ago, 14:16
@AfricaNews - By: Africanews
Malian soldiers implicated after mass graves found | Africanews

The statement from the Malian Defence Ministry followed local media reports that 25 bodies had been found in mass graves after a military crackdown on suspected jihadists and allied ethnic militia in ...

Category: africa topnews news
5 hours ago, 14:46
@AfricaNews - By: Africanews
South African economy projected to grow in 2018 | Africanews

The South African economy is expected to recover from a bad start this year, thanks to increased growth in the rest of the world. ...

Category: africa topnews news
5 hours ago, 14:36
@AfricaNews - By: Daniel Mumbere Wit ...
South Sudan president Kiir departs for Ethiopia ahead of peace talks | Africanews

Tens of thousands of people have been killed in the civil war that broke out in late 2013 when troops loyal to Riek Machar, the former vice president of South Sudan, launched a rebellion against the g ...

Category: africa topnews news
10 hours ago, 10:05
@AfricaNews - By: With Jerry Bambi
Africa Convergence Conference to hold in Dakar | Africanews

After the success of its second edition held in Casablanca in September 2017, the Africa Convergence Conference opens its third edition in Dakar from the 21st to 22nd of June 2018. ...

Category: africa topnews news
Our App