The Richest African In The World..

Posted on March 16, 2011. Filed under: Uncategorized |

1. Aliko Dangote $13.8 billion (Sh1.1 trillion)

Position this year: 51
Last year: 463
Source : Assorted, self-made

The Nigerian is the richest African whose fortune at Sh1.1 trillion is equivalent to the entire value of all companies listed at the Nairobi Stock Exchange.

Actually, he is richer than American property impresario Donald Trump, who is worth $2.7 billion (Sh224 billion) and whom he can buy out and tell: “You’re fired!”

Dangote can acquire Sir Richard Branson’s Virgin Group and employ him as a flight attendant on Virgin Air. Branson is worth $4.2 billion (Sh348 billion) at position 254.

That is not all. He makes Oprah Winfrey’s $2 billion (Sh166 billion) read like pocket change, meaning Dangote can buy out Oprah and make her his secretary.

Dangote, a father of three, has leapt 412 places up, one of the biggest gainers on the Forbes list. Dangote’s holdings in sugar, flour mills, salt processing, transport, textiles, rice, vegetable oil, fish, real estate, oil, gas, millet, cashew nuts, cotton, cocoa, large scale millet farming, and cement concerns made his fortunes surge by 557 per cent in the past year.

The icing on his cake was the listing of Obajana Cement on the Nigerian Stock Exchange, where it commands a quarter of the total market capitalisation.

Obajana Cement is Africa’s largest cement maker, while Dangote Sugar Refinery Plc is the most capitalised company at the Nigerian Stock Exchange.

With a capacity to refine 700,000 tonnes a day, Dangote Sugar is the world’s third largest sugar refinery, controlling 60 per cent of the Nigerian market.

He has other cement plants under construction in Zambia, Tanzania, Congo, and Ethiopia, with cement terminals in Sierra Leone, Ivory Coast, and Liberia.

To congratulate himself, Dangote bought himself a $45 million (Sh3.7 billion) Bombardier aircraft for his 53rd birthday. Not bad for someone who began his financial ascent at 21 with a soft loan from uncle Sanusi Dantata in 1978.

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One Response to “The Richest African In The World..”

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awesome man.. can i get his number?


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