Africa’s Rise of Wealth

Africa, the old continent still remains humble and bold as it continues through the ongoing evolution of social economic culture development in the face of humanity.

Up until the 20th Century in most parts of Africa the traditional aspect of personal wealth was displayed through a communal face. Traditionally wealth was celebrated in the community where it was exposed at annual festivals in the form tribal cloth, gold and precious stones; unlike in western civilization where monetary wealth is associated with bank accounts and investments.

It has only been in the last 55 years, since 1960 that most of the African countries became independent and banking investments was introduced; therefore making banking a young concept to its citizens. Banking education was limited and therefore not well received or trusted that resulted in skepticism of most of the population against their government.

The traditional practice of the masses in the early days was to store the money under a pillow, vase hidden in the farm inside the trunk of tree or some other hiding place. This mentality started to change just after the wave of democratic policy was introduced around the continent from 1990 to 2000 and trust started to build around banking investment education, rules of law accountability, change of practice and economic opportunity.

Built on the success of the democratic policy changes resulted open opportunities to individuals and countries to gain tremendous access on investments inside the region and on the world economic stage.

The African continent was always the back bone of the world economy based on the natural resources of the continent but it has always been painted as the poorest and destitute continent who over decades played a vital role in the world economy despite the depressive moral politics placed on African leadership. The awareness came after the collapse of the world economic power failure of the financial system in America,Europe and Asia and only then realized the importance of the African continent and its regional investment, consumption and trade.

There has been great progress made in the regional investment infrastructure as many countries started to reap the fruits socially and economically.

Due to the progress of investment banking in Africa the change of individual wealth on the continent has risen to include 29 African Billionaires.
The positive aspect of all of this came out more after the election of the United States President, Barack Obama, in the election of the first African American to hold this position. This changed the game of how African’s are viewed around the world stage and brought the perspective for respect vis a vis on business, social, and cultural development in the 21st Century.

The changes in the banking policies in most of the democratic countries on the African continent brought opportunity to create industry privatization, more business and corporate opportunities resulted with a win-win model solution.

In the last 8 years the African continent has produced over 52 millionaires according to the Forbes Magazine and the wealth on the continent continues to grow very rapidly.

In his recent visit to Africa, Japan’s Prime Minister Shinzo Abe insisted “Africa today is the continent who is carrying the hope of the world”.
Africa’s growth will continue because foreign direct investment into Africa has grown more than three-fold over the past 10 years.

The food and agricultural farmers and agribusinesses in Africa could build a trillion-dollar food market by 2030.

According to Wall Street Journal in 2011 exports from the G-7 countries and China to Africa was:

China $73.4 billion
France $38.9 billion
U.S.A. $31.5 billion
Germany $29.1 billion
Italy $22.1 billion
U.K. $17.6 billion
Japan $13.1 billion
Canada $3.3 billion

On August 5, 2014 at the First African American Summit held in Washington DC,  President Barak Obama announnced that the USA will invest $33 billion in Africa.

This year  a record 1,645 billionaires made it to FORBES’ annual ranking of the world’s richest people.

There are 29 African billionaires this year, up from 20 just a year ago. These are the 29 Africans who are worth $1 billion or more:

1 Aliko Dangote $25 billion (Nigerian, Cement, Flour, Sugar)
2 Johann Rupert & family $7.6 billion (South African, Luxury Goods)
3 Nicky Oppenheimer & family $6.7 billion (South African, Diamonds)
4 Nassef Sawiris $6.7 billion (Egyptian, Construction)
5 Mike Adenuga $4,600 M $4.6 billion (Nigerian, Telecoms and Oil )
6 Isabel dos Santos $3.7 billion (Angolan, Investments)
7 Christoffel Wiese $3.2 billion (South African, Retail)
8 Issad Rebrab $3.2 billion (Algerian, Diversified)
9 Nathan Kirsh, $3.1 billion (Swaziland. Real Estate)
10 Mohamed Mansour, $3.1( billion Egyptian, Diversified)
11 Othman Benjelloun $2.8 billion (Moroccan, Banking)
12 Naguib Sawiris, $2.8 billion (Egyptian, Telecoms)
11 Patrice Motsepe $ $2.7 billion ( South African, Mining)
13 Folorunsho Alakija $2.5 billion (Nigerian, Oil)
14 Onsi Sawiris $2.4 billion (Egyptian, Diversified)
15 Youssef Mansour $2.3 billion ( Egyptian, Diversified)
16 Mohamed Al Fayed, $1.9 billion (Egyptian, Property)
17 Miloud Chaabi, $1.9 billion (Moroccan, Diversified)
18 Yasseen Mansour, $1.8 billion (Egyptian, Diversified)
19 Aziz Akhannouch, $1.4 billion (Moroccan, Diversified)
20 Stephen Saad, $1.3 billion South African, Pharmaceuticals
21 Desmond Sacco, $1.3 billion (South African, Mining)
22 Koos Bekker, $1.3 billion (South African, Media)
23 Allan Gray, $1.3 billion (South African, Investments)
24 Samih Sawiris, $1.3 billion (Egyptian, Property Development)
25 Anas Sefrioui, $1.25 billion (Moroccan, Property Development)
29 Vimal Shah & family $1,6 billion (Kenyan of Bidco Oil)
26 Abdulsamad Rabiu, $1.2 billion (Nigerian, Diversified)
27 Sudhir Ruparelia, $1.1 billion (Ugandan, Property, Banking)
28 Rostam Azizi, $1 billion (Tanzanian, Telecoms)
29 Jim Ovia $900 M
30 Theophilus Danjuma $700 M
30 Cyril Ramaphosa $700 M
31 Lauritz (Laurie) Dippenaar $650 M
32 Strive Masiyiwa $600 M
33 Oba Otudeko $575 M
34 Hakeem Belo-Osagie $550 M
34 Mohammed Indimi $550 M
34 Reginald Mengi $550 M
37 Gus Attridge $525 M
38 Raymond Ackerman $500 M
38 Said Salim Bakhresa $500 M
38 Sani Bello $500 M
38 Mohammed Dewji $500 M
38 Moulay Hafid Elalamy $500 M
43 Gerrit Thomas (GT) Ferreira $475 M
43 Jannie Mouton $475 M
45 Adrian Gore $460 M
46 Shafik Gabr $450 M
46 Alami Lazraq $450 M
48 Naushad Merali $430 M
49 Femi Otedola $410 M
50 Tunde Folawiyo 400 M

The African continent continues to evolve on its progress as this century is leading the continent toward very big changes of prosperity socially, economical, politically the main work must remain in the hand of Africans to lead responsibly and to inspire the next generation.