Toooo much money: SEE the richest men at the World Economic Forum right now


by Isi Esene

The World Economic Forum on Africa taking place in Cape Town, South Africa  regularly brings together influencers from different walks of life to deliberate on the future of the continent.

This year’s gathering focuses on accelerating economic diversification, boosting strategic infrastructure, and unlocking Africa’s talent so it is imperative to have what reads like the rich-list of the black continent.

See below some of the richest people in Africa at the forum as drawn up by Forbes.

Aliko Dangote: The continent’s wealthiest man sits atop the Dangote Group, which owns cement production facilities across sub-Saharan Africa as well as flour-milling, salt and sugar production companies. Dangote has a net worth of $19.2 billion, based on May 8 stock prices, up from the $16.1 billion net worth FORBES calculated for the 2013 Billionaires list in March. He is from Nigeria.

Mo IbrahimThe Sudanese-born billionaire founded Celtel, a mobile phone company that now serves 23 countries in Africa and the Middle East. He sold it in 2005 for $3.4 billion and pocketed an estimated $1.4 billion. FORBES estimated his net worth at $1.1 billion. Ibrahim is co-chair of  the forum this year.

Jim Ovia: The Nigerian banker co-founded Zenith Bank in the early 90s. He is still the bank’s largest individual shareholder. His 9% stake in the bank is valued at roughly $370 million. He is also the founder and Executive chairman of Visafone, a Nigerian mobile phone services company andQuantum QTM +3.91%, a private equity firm. Forbes estimates his net worth at $800 million.

Folorunsho Alakija: The Nigerian oil businesswoman sits atop Famfa Oil, a Nigerian oil exploration company which owns a 40% stake in one of Nigeria’s most prolific oil blocks.

Strive Masiyiwa: Zimbabwe’s richest man is the founder and Executive Chairman of Econet Wireless, Zimbabwe’s largest mobile phone company. His stake in Econet is worth $525 million, based on the May 8 stock price.

President Uhuru Kenyatta: Kenya’s popular President is a heir to some of the largest land holdings in Kenya. He also owns stakes in Brookside Dairies, Kenya’s largest dairy company, Commercial Bank of Africa group and K24, a local TV station in Nairobi.

Chris Kirubi: The flamboyant Kenyan tycoon is the Chairman of International House Limited, a real estate company which owns the landmark International House in Nairobi’s Central Business District. He also owns a 49% stake in Tiger Haco Industries and a major stake in publicly-listed Kenyan investment company, Centum Investments.

James Mwangi: The Kenyan banker is currently the largest individual shareholder of Equity Bank, one of Kenya’s top 3 commercial banks. He also owns stakes in British American Investments, Kenya and a significant real estate portfolio in Kenya.

Wale Tinubu: The Nigerian oilman is CEO of Oando PLC, a $700 million (Market Cap) publicly-listed integrated energy services company in Nigeria. Through Tinubu’s privately-held investment holding company, Ocean and Oil Holdings, he owns a very significant stake in Oando.

Kola Karim: Karim is the founder and CEO of Shoreline Group, a Nigerian conglomerate with interests in oil & gas, construction, power, engineering and commodities trading. Last year, Shoreline Energy in collaboration with the United Kingdom’s Heritage Oil acquired a stake in an oilfield asset in Nigeria, OML 30 for $850 million. Karim, a polo buff is also a WEF Young Global Leader.

Ashish J. Thakkar: The maverick Ugandan tycoon is the CEO of Mara Group, a Pan-African conglomerate with interests in 16 countries in everything from hotels and tourism to financial services, information and communications technology, renewable energy and manufacturing.

Adrian Gore: Gore is the founder and largest individual shareholder ofDiscovery Health, South Africa’s largest medical insurer.

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