Ventures Africa has launched its second annual ranking of Africa’s wealthiest people at richlist.ventures-africa.com. The Richest People in Africa list remains the most comprehensive compilation of the continent’s wealthiest individuals.In 2014, we counted 55 African billionaires with a net worth totalling $161.7 billion, a 12.4 percent rise from $143.8 billion in 2013. This year Africa welcomed five new billionaires, four of whom are Nigerian.Reclusive industrialist, Cletus Ibeto, leads the newcomers with $3.7 billion in net worth. Oil mogul, Benedict Peters, Tony Elumelu, Chairman of UBA Group and founder of Heirs Holdings, Samih Sawiris of Egyptian multi-business conglomerate, Orascom Group, and Akanimu Udofia complete the list.Key findings from the research include:- The average net worth of the continent’s wealthiest people is $2.9 billion. The median age is 63 years.
- Mohammed Dewji of Tanzania and Igho Sanomi, a Nigerian oil trader, remain the continent’s youngest billionaires. They are both 39 years old. Moroccan businessman Miloud Chaabi, Kenyan industrialist Manu Chandaria, and Mohammed Al-Fayed, the Egyptian property tycoon, are Africa’s oldest billionaires.
- Folorunsho Alakija, the richest black woman in the world, is worth $7.3 billion dollars. She is followed by the daughter of Angolan President Jose Eduardo Dos Santos, Isabel dos Santos who is now worth $3.5 billion.
- The most common industries in which African billionaires have made their money are: construction, financial services, oil and gas, manufacturing and real estate.
- Aliko Dangote, founder of Africa’s largest industrial conglomerate Dangote Group, remains the continent’s richest man. His net worth has grown to $25.7 billion, a 21% rise from his $20.2 billion valuation in 2013.
- Nigeria, South Africa and Egypt have the most billionaires. Nigeria leads the pack with 23 while South Africa and Egypt both contribute eight each. In total twelve African countries are represented on the list.
- Africa’s wealthiest individuals provide jobs for almost half a million people within the continent.
Chi-Chi Okonjo, Founder of Ventures Africa, said: “The Ventures Africa Rich List is the most authoritative accounting of individual African wealth. We have been able to do so because of our on-the-ground experience and detailed knowledge of the local African business landscape.”The list has been compiled using financial reports, by tracking equity holdings around stock markets and identifying specific shareholding structures in large, privately-held companies. The results have been corroborated with investment bankers, realtors and financial analysts to determine proper valuations.To view the full Ventures Africa Rich List please visit: richlist.ventures-africa.com
24. Mohammed Dewji
Net Worth: $2 BILLION
Industry: Diversified
Country of Citizenship: Tanzania
Age: 39
Number of Jobs Created: 16,800
Mohammed Dewji has seen his net worth rise considerably over the past year as his MeTL group, a conglomerate in 11 countries with interests in trade, FMCG and manufacturing, undergoes significant expansion.
Telecoms equipment maker’s heavy investment in marketing to overcome security concerns brings results, claims branding agency
The telecoms equipment maker Huawei has become the first Chinese company to feature in the top 100 of an annual ranking of the world’s most valuable brands.
Huawei scraped in at number 94 in the rankings by Interbrand, following heavy investment around the world in advertising, marketing, public relations and lobbying.
The global push has partly been made in an effort to overcome negative publicity surrounding alleged links between Huawei and Chinese state intelligence. The company denies the claims but as a result has been barred from major contracts in America and Australia, and forced to submit to constant scrutiny of its equipment by GCHQ in the UK.
In an attempt to move past the controversy, alongside the investment in branding, Huawei has sought consumer recognition by attacking the smartphone market. It is promoting its handsets in the West with sport sponsorships, including of Arsenal and Athletico Madrid in Spain.
Prior to the push, the privately-held company considered changing its brand to something easier for western consumers to pronounce but pressed on with its Chinese name which was well-established with the mobile operators who buy its telecoms equipment.
Jez Frampton, Interbrand’s chief executive, said: “Huawei’s rapid growth and long-term investments in its brand helped it earn a place among the world’s most valuable brands.
“Despite its low brand awareness in the US, Huawei has gradually expanded its reach around the world.”
Huawei’s place in the top 100 places it at the vanguard of Chinese technology companies bidding to make the leap from big domestic players or manufacturing contractors for international brands to becoming names that are well-known internationally in their own right. Alibaba, the online marketplace, made a global splash last month with its record-breaking Wall Street flotation, for instance. Lenovo is now among the world’s computer makers after it bought of IBM’s PC and server businesses.
Technology brands in general dominate Interbrand’s rankings. Apple, Google, IBM, Microsoft and Samsung all feature in the top 10.
www.telegraph.co.uk
It’s no secret that Facebook use your personal data for their own use and sometimes for something you may not like. And of late Facebook’s public image has deteriorated from those that created the epic trend of social media to the villains that take your personal data and use it for their own gain.Recently it came to light that in 2012 Facebook carried out a research where they were literally altering users’ emotions by showing them negative stories on their time lines to see if this would affect their posts. This triggered uproar but the slick Facebook avoided any serious repercussions saying the terms of service agreement allows them to carry out such a research.
But they cannot get away with everything they do because now 25,000 Facebook users have come together to launch a class action suit against the social media giant.
Facebook user, Max Schrems, who started the suit alleges that Facebook had been violating users' privacy and as a result started a campaign to get support for the law suit but did not expect to get as much support as he did.
"We hoped for broad support, but the number ... has exceeded my most optimistic expectations," said Austrian law student Schrems, who launched his class action only last Thursday. He’s now been forced to close the list of plaintiffs because of the huge number.
Schrems is claiming damages of 500 euros ($667) per user for alleged data violations by Facebook, including by aiding the U.S. National Security Agency in running its PRISM program, which mined the personal data of users of Facebook and other web services.
It is now that many Facebook users are not happy with the service and their blurred lines when it comes to privacy. Recently Britain's data watchdog has begun investigating the legality of a Facebook experiment on unwitting users in 2012.
[PROPS REUTERS]
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