@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

2 hours ago, 10:39
@AfricaNews - By: Africanews
Comoros: 3 opposition leaders arrested during anti-referendum protest | Africanews

In recent weeks, the head of state has suspended the Constitutional Court, the highest court in the country. He has placed his predecessor and rival Ahmed Abdallah Sambi under house arrest and banned ...

Category: africa topnews news
1 hours ago, 11:49
@AfricaNews - By: Eric Oteng
Explosion rocks rally in support of new Ethiopian Prime Minister, Abiy Ahmed | Africanews

The state broadcaster reported that a few people had been injured, and police said they were investigating. Footage showed Prime Minister Abiy Ahmed being rushed from the scene by security guards. ...

Category: africa topnews news
2 hours ago, 11:14
@AfricaNews - By: Eric Oteng
Restructuring Eskom top of South Africa agenda - Nhlanhla Nene | Africanews

The last time there were controlled power outages in 2015, economic output suffered. ...

Category: africa africa_business business news
2 hours ago, 11:13
@AfricaNews - By: Eric Oteng
East African Court of Justice rules Tanzania newspaper ban illegal | Africanews

Tanzania's Information Ministry banned Mseto for "publishing incitements and false news". ...

Category: africa news
2 hours ago, 10:51
@BBCAfrica - By: Bbc
Explosion hits Ethiopia PM rally

An explosion hits a rally for Ethiopia's new PM Abiy Ahmed attended by thousands of people in Addis Ababa. ...

Category: africa topnews news
3 hours ago, 10:06
@AfricaNews - By: With Afp, Agencies
Gambian president pays tribute to 3 civilians killed by police at anti-pollution protest | Africanews

AFP reports that the Gambia's police chief Landing Kinteh resigned Thursday over deaths of the three young men after police fired on marchers at an anti-pollution protest ...

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

2 hours ago, 10:39
@AfricaNews - By: Africanews
Comoros: 3 opposition leaders arrested during anti-referendum protest | Africanews

In recent weeks, the head of state has suspended the Constitutional Court, the highest court in the country. He has placed his predecessor and rival Ahmed Abdallah Sambi under house arrest and banned ...

Category: africa topnews news
1 hours ago, 11:49
@AfricaNews - By: Eric Oteng
Explosion rocks rally in support of new Ethiopian Prime Minister, Abiy Ahmed | Africanews

The state broadcaster reported that a few people had been injured, and police said they were investigating. Footage showed Prime Minister Abiy Ahmed being rushed from the scene by security guards. ...

Category: africa topnews news
2 hours ago, 11:14
@AfricaNews - By: Eric Oteng
Restructuring Eskom top of South Africa agenda - Nhlanhla Nene | Africanews

The last time there were controlled power outages in 2015, economic output suffered. ...

Category: africa africa_business business news
2 hours ago, 11:13
@AfricaNews - By: Eric Oteng
East African Court of Justice rules Tanzania newspaper ban illegal | Africanews

Tanzania's Information Ministry banned Mseto for "publishing incitements and false news". ...

Category: africa news
2 hours ago, 10:51
@BBCAfrica - By: Bbc
Explosion hits Ethiopia PM rally

An explosion hits a rally for Ethiopia's new PM Abiy Ahmed attended by thousands of people in Addis Ababa. ...

Category: africa topnews news
3 hours ago, 10:06
@AfricaNews - By: With Afp, Agencies
Gambian president pays tribute to 3 civilians killed by police at anti-pollution protest | Africanews

AFP reports that the Gambia's police chief Landing Kinteh resigned Thursday over deaths of the three young men after police fired on marchers at an anti-pollution protest ...

Category: africa topnews news
Our App