10 African Billionaires Who Can Thank Tech For Their Fortunes
There are 25 African billionaires who can stake their claim among the estimated 2,043 dollar billionaires worldwide that make up the richest of the rich.
Mohammed Dewji of Tanzania remains the youngest African billionaire, while Angolan investor Isabel dos Santos and oil tycoon Folorunsho Alakija of Nigeria are the only two female billionaires on the continent.
A number of the African billionaires have earned some of their wealth thanks to tech and related sectors, with the modern digital world contributing revenues that have helped them to grow their personal net worth to billionaire status.
Here are the 10 African billionaires who can thanks tech for their fortunes.
Nigerian Mike Adenuga is a billionaire with ties to the telecommunications industry, as he owns Globacom, is the second largest mobile operator in Nigeria with 36 million subscribers. His current net worth is $5.4 billion.
Egyptian investor and politician Sawiris turned his focus to politics in 2011, but before that he was executive chairman of telecommunications giants Wind Telecom and Orascom Telecom Holding. His net worth currently sits at around $3.8 billion.
Isabel dos Santos
Angola’s Isabel dos Santos is the richest women on the African continent, and a fair amount of her $3.5 billion fortune is derived from tech-related business. The head of Sonangol, Angola’s state oil firm, owns 25 percent of Unitel, the country’s largest mobile phone network, and 42 percent of a bank, Banco BIC. In addition, she is a shareholder of Portuguese cable TV and telecoms company, Nos SGPS.
With a net worth of around $2.2 billion, the former Naspers executive transformed the media company into the giant it is today. Between 1997 and 2014, he led the group to become Africa’s richest company, with their market capitalization going from $600 million to $45 billion.
Father of Naguib, who was introduced earlier in this list, the patriarch of the Sawiris family made his $1.19 billion fortune from telecoms and construction, founding the highly successful Orascom Group.
Benjelloun’s father was a shareholder in a small Moroccan insurance company, which he took over in 1988 and built into privately held RMA Watanya, a leading insurance company that expanded into banking. He is now chairman of BMCE Bank, Africa’s second largest bank. Through his holding company FinanceCom, he is the majority shareholder of insurance company RMA Watanya and has a minority stake in Meditelecom, Morocco’s second largest mobile phone operator.
Mohamed is the richest of the three Mansour brothers, with a net worth of $2.7 billion. He oversees the Mansour Group, which has the sole distribution rights in Egypt for General Motors vehicles and Caterpillar construction equipment, while also operating the McDonald’s franchise.
Mohamed Mansour’s brother Youssef is another of the Egyptians on this list, with a net worth of $1.15 thanks to his stake in the Mansour Group. In addition to the Egyptian rights for General Motors vehicles and Caterpillar construction equipment, the Mansour Group has the exclusive rights to Caterpillar sales in Russia and six African countries.
Dewji, the chief executive officer of Tanzania’s METL, a conglomerate with interests in manufacturing and distribution. He has been active in bringing tech solutions to those industries in order to improve efficiency within his business, assisting him in building his net worth of $1.39 billion.
Motsepe made his fortune in mining, but in recent months and years he has looked to financial services and telecoms as areas in which to expand. The founder of African Rainbow Minerals used the company to acquire a 20 percent stake in Rain, a fixed and mobile data network operator.
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