Tag: Africa

  • List of 15 Richest People in Africa – 2022

    Africa is known to be the richest and most diversified culture globally. The Economy of Africa consists of trade, Community, Industry, and Human Resources, which has a diverse economic growth that turns to potential growth for Africa. With the help of great Business Tycoons, Africa has immensely seen a significant increase in all Industries.

    As Said, “with time, everything will come ” Africa has seen potential growth with all the Richest Entrepreneur in the region. Who makes all the massive changes to make the economy rich? Now let us see the top 15 Richest People in Africa one by one.

    Top 15 Richest People in Africa

    1. Aliko Dangote
    2. Johann Rupert
    3. Nickey Oppenheimer
    4. Natie Kirsh
    5. Nassef Sawiris
    6. Abdul Samad Rabiu
    7. Mike Adenuga
    8. Issad Rebrab
    9. Naguib Sawiris
    10. Patrice Motsepe
    11. Koos Bekker
    12. Youssef Mansour
    13. Mohammed Dewji
    14. Othman Benjelloun
    15. Michiel Le Roux

    Richest People in Africa

    Aliko Dangote

    Chairman and CEO: Dangote Group
    Net Worth: $1,400 Crores

    Aliko Dangote | Richest People in Africa
    Aliko Dangote | Richest People in Africa

    Aliko Dangote has proven to be one of the Richest People in Africa. He is known to be chairman and CEO of Dangote Group. Kicking off the journey as a Normal Trader in the Food and sugar Industry to achieve Milestones, he is known to be the best Business Tycoon in Africa. The young youth of Africa has followed the leadership quality that Aliko maintains.

    Aliko Dangote net worth

    Also, he has consecutively maintained his richest billionaires position for the last eleven years. He also involved himself in the sugar, salt, fertilizers, and food industries. Aliko Dangote’s net worth is 1,400 crores USD.

    Johann Rupert

    Chairman: The Swiss Based Luxury Goods and commodities
    Net Worth: $960 Crores

    Johann Rupert | Richest People in Africa
    Johann Rupert | Richest People in Africa

    Johann Rupert is the chairman of The Swiss Based Luxury Goods and commodities. Being a part of such luxury Goods and being taken to the next level, he has improved the power of commodities. Richemont produces and sells jewelry, watches, leather goods, pens, firearms, clothing, and accessories through its various subsidiaries.

    Johann Rupert’s Net Worth

    Making the kind of products and making them available to all the Brands, He has successfully achieved a position in the market. Also, today he is known to be the second Richest person In Africa.

    Being the king of luxury goods, he has captured great success in the market with a net worth of 960 crores USD. Soul of 3 children, he has supportively made himself the best family man.

    Nickey Oppenheimer

    Ex-Chairman: De Beers
    Net Worth: $870 Crores

    Nickey Oppenheimer | Richest People in Africa
    Nickey Oppenheimer | Richest People in Africa

    Coming towards the 3 richest people in Africa. “Success is best when it’s shared.” So well said, by someone, the story of success is only known by the person who has achieved success in their life, introducing one of the best people in Africa known for the best in Diamond Jewish in Africa “Nickey Oppenheimer.”

    Believing consistency is very much crucial for one being. Oppenheimer family has directed much of its outstanding efforts toward the heritage culture of the southern African Region. Hence, being rich is not enough if you don’t have such down towards nature for your region.

    Nicky Oppenheimer’s Net Worth

    He has a net worth of 870 crores USD (2022), contributing to the GDP. Also, he has been awarded renowned awards that the people have way appreciated.


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    Natie Kirsh

    Head: Kirsh Group
    Net Worth: $540 Crores

    Natie Kirsh | Richest People in Africa
    Natie Kirsh | Richest People in Africa

    Moving toward the 4th richest person who kicked off his career in the native place of Swaziland, the first fortune where he launched a corn mining business. With the increasing year, he expanded it into the wholesale Food Distribution apartheid, South Africa, supermarkets, and commercial property development.

    Introducing Natie Kirsh, well known as a “Swazi Billionaire businessman,” heads the Kirsh group and holds a majority stake in New York State. Not only in Africa, but he has also greatly empowered other countries.

    Natie Kirsh’s Net Worth

    Being a native of Swaziland, and we know the poverty rate of Swazi is 69.2 percent, he contributed affordable loans and training to the Swazi women. With current Forbes, his Net worth is 540 crores USD (2022).

    Nassef Sawiris

    Net Worth: $820 Crores

    Nassef Sawiris | Richest People in Africa
    Nassef Sawiris | Richest People in Africa

    Next richest person in Africa is Nassef Sawiris.

    He is known to be a dedicated person when it comes to working; also, he was known as an Egyptian billionaire businessman. The latter involved himself in the business of Fertilizers to the sports section with one of the prominent brands, Adidas; he has successfully skillfully captured the market. Apart from that, he also has stakes in the most significant cement Industry.

    Nassef Sawiris’s Net Worth 2022

    Not only this, the Sawiris family was involved in other sectors like telecommunications, construction, tourism industries, and Technologies. Sawiris’s family believes in the patriarchal system; with such a kind heart nature and regional belongings, the total net worth stands out to be 820 Crores USD.

    Abdul Samad Rabiu

    Founder: BUA Group
    Net Worth: $680 Crores

    Abdul Samad Rabiu | Richest People in Africa
    Abdul Samad Rabiu | Richest People in Africa

    Abdul Samad Rabiu is also a Nigerian billionaire businessman and philanthropist; he is the founder of the BUA group, which is mainly into manufacturing, industries, and agriculture.

    Abdul is more towards the nation’s worth, which means he is involved in the agricultural sector, and he also has a good equity share in the market, making him the richest man in Nigeria in 2021.

    Abdul Samad Rabiu’s net worth

    Abdul started his career as a Commodity Trader, and to achieve the milestone, he kept investing in the Economic of Nigeria. Currently, the net worth of this Great Entrepnure is 680 Crores USD.

    Mike Adenuga

    Founder: Globacom Limited
    Net Worth: $730 Crores

    Mike Adenuga | Richest People in Africa
    Mike Adenuga | Richest People in Africa

    Coming next, Mike Adenuga is the seventh most prosperous Nigerian billionaires Businessman. He has the second largest Telecom operator presence in Ghana, and Benin also takes significant shares in the Equatorial Trust bank and oil exploration Firms.

    His parents are from a very decent background as his father was a teacher while his mother was a businesswoman. At 26, Mike made his first million by selling lace and soft drinks. Mike also worked as a taxi driver to cover his university education funds.

    Mike Adenuga’s Net Worth 2022

    Currently, he has a net worth of 730 Crores USD with great success in the telecom sector.


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    Issad Rebrab

    CEO: Cevital Industrial Group
    Net Worth: $510 Crores

    Issad Rebrab | Richest People in Africa
    Issad Rebrab | Richest People in Africa

    He is known as the founder and CEO of cevital Algerian billionaire businessman. He also started his career as a teacher, but not for a long time. Around 1955 his central installation was destroyed. Due to a terrorist attack after that, he opens his firm into steel and metal sider. Due to some corruption probe, he was supervised incarcerated at the prison but later on, he was released.

    Issad Rebrab’s net worth

    Metal sider is one of the biggest agricultural Businesses, which later became the largest Private Algerian company with 510 Crores USD.

    Naguib Sawiris

    CEO: Orascom Telecom Media & Technology
    Net Worth: $340 Crores

    Naguib Sawiris | Richest People in Africa

    As we know, the demand for the telecom sector, Sawiris built the railway Telecom sector and information and technology sector for the nation’s potential growth. NAGUIB also holds a majority stake in the pan European Television Channel, and currently, he is the CEO of Orascom Telecom Media & Technology.

    Naguib Sawiris’s net worth

    He is the ninth richest person in Africa, with a net worth of 340 crores USD. He is known as the Egyptian Billionaires Businessman and Chairman of weather Investment.

    Patrice Motsepe

    Ex-President: Confederation of African Football
    Net Worth: $350 Crores

    Patrice Motsepe | Richest People in Africa
    Patrice Motsepe | Richest People in Africa

    Patrice Motsepe has been the South African Mining Billionaire since 2021. He has been serving as the president of the confederation of African Football, also known as president of the confederation of African Football. In 1994 he served to be the first black partner in the law firm, and the same year Patrice was elected as the country’s first black president.

    In 1977 he thought to keep investing and get involved in Gold Mining as gold was low; he purchased the marginal gold mines from Anglogold under favorable finance terms.

    Patrice Motsepe’s net worth in 2022

    He has been awarded many good awards as he has a keen interest in the sports section; currently, he has a net worth of 350 crores USD (2022)

    Koos Bekker

    CEO: Naspers
    Net Worth: $230 Crores

    Koos Bekker | Richest People in Africa
    Koos Bekker | Richest People in Africa

    Koos Bekker is the CEO of Naspers, a typical businessman involved in the capital market and stock exchange. Naspers operates in 130 countries and is listed on the London Stock Exchange. It has the largest market capitalization of any media outside us china and India.

    Eventually, he started his career with pay television services, and with a couple of milestones, he firmed the sister companies, eventually expanding to 48 countries across Africa.

    Koos Bekker net worth

    If we talk about Forbes list, Bekker is listed as the wealthiest person. Also, he has been involved in the stock exchange’s tremendous success, which has immense he made a net worth of 230 crores USD.

    Keep the facts that he has a keen interest in the mobile industry. Also, with the help of the stock exchange, he earned a lot.

    Youssef Mansour

    Owner: Mansour Group
    Net Worth: $150 crores

    Youssef Mansour – Richest People in Africa

    He is known as the Egyptian Businessman, owner of the Mansour Group is currently the largest distributor of the General Motors vehicle in Egypte. Handling the business into a diversified field is also immensely, taking the family business to great heights with many achievements.

    Youssef Mansour’s net worth

    If we talk about the net worth, which is 150 crores USD.

    Mohammed Dewji

    CEO: METL
    Net Worth: $150 Crores

    Mohammed Dewji - Richest People in Africa
    Mohammed Dewji – Richest People in Africa

    He is known for being the CEO of METL, a Tanzanian conglomerate founded by his father. METL deals with diverse fields of textile manufacturing, flour milling beverages, and edible oils in different regions.

    Moreover, METL is operated in six different African countries and has a great vision to expand to several other regions.

    Mohammed Dewji’s net worth

    Being struggled, Kidnapped, and seen up and down in the business, he never stopped himself to achieve success, and the total net worth of this young entrepreneur is 150 crores USD.

    Othman Benjelloun

    CEO: BMCE Bank of Africa
    Net Worth: $140 Crores

    Othman Benjelloun - Richest People in Africa
    Othman Benjelloun – Richest People in Africa

    He is the CEO of BMCE Bank of Africa, which has a presence in more than 20 African countries.

    Talking about the shares he holds in the share of company finance.com also, he has a stake in the Moroccan arm of French telecom firm Orange.

    Othman Benjelloun’s net worth

    He has a net worth of 140 crores USD.

    Michiel Le Roux

    Founder: Capitec Bank
    Net Worth: $190 Crores

    Michiel Le Roux - Richest People in Africa
    Michiel Le Roux – Richest People in Africa

    Being involved in the capital market and stock exchange, he is known to be the founder of Capitec Bank in 2001 and owns about an 11% stake. Moreover, he is known as the chairman of the board of Capitec.

    Michiel Le Roux’s net worth

    The hands for making this big success is because of the capitec bank. Currently, he owns a net worth of 190 crores USD.

    Conclusion

    Making things and achieving a great note of success is unbelievable; the great Entrepreneurs of Forbes have made an apparent success for the country. Of course, eventually, things will take time, but the level of dedication that this great gentleman has put to making the nation renowned is way appreciable.

    It is well said that “good things take time” the culture that African Religion follows is of harmony, tradition, practices, rites, music, and other literature that builds the economy. They believe together, which is a significant result for success.

    The great entrepreneurs are well known for their unique identity, which makes a massive difference to everyone as that is how they are making it up to other people. They are the true inspiration for the young generation, and some fellow people follow in the footsteps of these famed Entrepreneurs.

    FAQs

    Who are the top 10 billionaires in Africa?

    Top 10 billionaires in Africa are:

    • Aliko Dangote
    • Johann Rupert
    • Nickey Oppenheimer
    • Nassef Sawiris
    • Abdul Samad Rabiu
    • Mike Adenuga
    • Issad Rebrab
    • Naguib Sawiris
    • Patrice Motsepe
    • Koos Bekker

    Who holds the first position of the African’s richest person?

    Aliko Dangote is the richest man in Africa since 11 years.

    What is the national currency in South Africa?

    The South African rand (ZAR) is the national currency of the country of South Africa.

  • List of Successful Startups in Africa | Top 6 African Startups

    The era of the pandemic has changed the entire global market. Some businesses saw the depth of losses and others thrived to the sky.

    Many startups had to shut down due to the problem around the pandemic. On the other hand, various startups emerged in the market and ruled over it.

    In Africa, many startups dealt with the unfortunate effects of the pandemic. They not only survived but also flourished well.

    Like any other, African startups also had a roller-coaster ride. Many had to make changes in their business models. Others’ however, turned out to be more successful than they could have ever imagined.

    The Emerge of Tech Startups in Africa
    Top Startups in Africa

    1. mPharma
    2. Eversend
    3. Ordera
    4. Amitruck
    5. Sokowatch
    6. Komaza

    The Pandemic Era of African Startups

    The Emerge of Tech Startups in Africa

    The African marketplace has seen significant growth as more tech startups are emerging. These startups play an important role in various ways. They promote innovative thinking and its wide application on the continent.

    These technology-based startups help Africa face various challenges. These include critical solutions for businesses and government, promoting e-health, e-education sector, and wide market access. The most important thing is that tech startups are helping Africa with its growth.

    New startups and existing organizations are collaborating to increase their reach. This helps them create a bigger impact of innovation over the continent.

    African economies have accelerated great progress with the emerge of various tech startups.

    Top Startups in Africa

    When it comes to startups, Africa also holds a great name in the market. Africa has various startups full of innovations, technologies, and critical solutions. The following are some of the top startups in Africa:

    mPharma

    mPharma Logo | Top Startups in Africa
    mPharma Logo | Top Startups in Africa

    It is a healthcare startup founded in the year in 2013. Founders are Gregory Rockson, Daniel Shoukimas, and James Finucane. It offers solutions to pharmaceuticals and health insurance companies. The main motive is to enable the patients to afford their medications.

    The startup has its headquarters in Ghana. mPharma has grown and expanded in various others places. Apart from Ghana, it has a strong presence in Kenya, Nigeria, Zambia, and more.

    mPharma helps in managing the drug inventory prescriptions for both suppliers and pharmacies. With the increased need for medications and health insurance, the startup has seen great growth during the pandemic.

    Eversend

    Eversend Logo | Top Startups in Africa
    Eversend Logo | Top Startups in Africa

    The multi-currency startup was founded in the year 2017. The founders are Stone Atwine, Ronald Kasendwa, and Emma Smith. This e-wallet startup offers financial services. For example- currency exchange, merchant payments, and more.

    With the rise in technology, online investments have become a popular choice for people. The fintech startup, Eversend from Uganda deals in mobile payments, cryptocurrencies, financial exchanges, and more.

    It gives access to various stocks to the people of Africa. Eversend is one of the best fintech startups in Africa. It is a startup to look out for in the coming years.

    Ordera

    Ordera Logo | Top Startups in Africa
    Ordera Logo | Top Startups in Africa

    The pandemic gave a boost to the food delivery services. Ordera, the food delivery startup launched in the year 2019. The founders are Abeer Mostafa, Karim Abdel Qader, and Noha Bassiouny.

    It is a platform that provides contactless drive-throughs and many pick-up options. The African startup enables the customers to order and pay in advance for a pick-up to ensure contactless delivery.

    Amitruck

    Amitruck Logo | Top Startups in Africa
    Amitruck Logo | Top Startups in Africa

    The rapid growth of e-commerce demands proper logistics support as well. So, here comes Amitruck, the trucking logistics startup. The African startup got launched in the year 2018. The founders are Mark Mwangi and Timothy Mwangi.

    Kenya’s Amitruck came into existence intending to solve the disruptions caused by an uncertain network of road transport. It helps to create a direct link between the cargo owners and the carriers.

    The startup began in Kenya and with great success, it plans to expand its services. The company’s P2P(Purchase-to-Pay) business model has enabled it to create a big name in the African logistics marketplace.

    Sokowatch

    Sokowatch Logo | Top Startups in Africa
    Sokowatch Logo | Top Startups in Africa

    Another startup that is a great success in Africa is Sokowatch. It was founded in the year 2013 by Daniel Yu, David Jaress, and Josh Raine. It has its headquarters in Nairobi, Kenya. It is an e-commerce platform that enables a direct link for the merchants to the local and multinational suppliers.

    In simple words, it helps the small shop to get connected with the digital economy. By doing so, the startup has revolutionized access to essential goods and services. It enables digital orders, payments, and logistics.

    The startup is so popular that it has been referred to as the ‘Tajir of Africa’. This means trader of Africa.

    Komaza

    Komaza Logo | Top Startups in Africa
    Komaza Logo | Top Startups in Africa

    Komaza is a tech-based startup that has revolutionized the wood industry in Africa. The company’s idea is to promote sustainable forestry. The startup based in Kenya was founded in the year 2006 by Tevis Howard.

    The company has planted more than 6 million trees over the years with the bits of help of small farmers. This helps the small farmers to get empowered and the environment more breathable. Along with these good deeds, the company gets to enjoy profits.

    With adequate funding and farmers’ support, Komaza aims to plant over 1 billion trees by the year 2030.


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    The Pandemic Era of African Startups

    During the pandemic, like others, Africa also saw an advent of digitalization. Everything shifting from offline to online mode allowed tech startups to flourish.

    In Africa, the pandemic gave a boost to the growth of tech startups. These startups helped the economy to deal with the existing problems. They also helped the economy to keep up with the pace of changing times.

    Startups are emerging with the technologies of AI, blockchain, data analytics, and more. The pandemic made businesses realize the importance of technologies in various fields.

    The African tech startups thus can create their market now. The technology has always been there but it flourished in its full sense during the pandemic.

    Conclusion

    The pandemic has been a time of revolution for startups. Many saw deep falls and others got to touch the sky. African marketplace saw a great amount of success of many startups.

    Many startups in Africa are now capable of finding a solution to every problem. For finances, there is Eversend, Ordera for food services, Amitruck for logistics, mPharma for healthcare, and more. Thus, the startups in Africa have made great progress in their successful transformations.

    FAQs

    How many fintech startups are there in Africa?

    As of 2021, there are 576 fintech startups in Africa.

    What are the best startups in the world?

    Top startups in the world, valued at more than $10 Billion are:

    • Bytedance
    • Spacex
    • Stripe
    • Klarna
    • Faire

    Which country has the highest no. of startups in Africa?

    Nigeria has the highest number of startups in Africa.

    Which is the best country in Africa to start a business?

    Mauritius is the best country in Africa to start a business, followed by Rwanda and Morocco.

  • What happened to H&M in Africa? | H&M Racism Accusations in Africa

    The World is constantly changing and evolving. Every moment transforming, new ideas take birth are implemented. Trends dominate today’s world and go fast as they come. In a moment everyone is involved and in the other everybody has already forgotten about it and is catching up with another.

    What is fast fashion?
    Problem with H&M and Fast fashion
    What happened to H&M in Africa?
    Other fast fashion brands and H&M and the need to do better
    FAQ

    What is Fast Fashion?

    In the fashion industry, as the word suggests, fast, quick, and trendy clothes are made for the consumers that are made and distributed rapidly among its consumers.

    The brands involved in the fast fashion industry:

    • Get the latest styles that are trendy into their stores.
    • The clothes are usually sold at a low price using cheap labor.
    • They produce these clothes in huge quantities and the consumers buy them recklessly. Because everyone is wearing it and it works.
    • Fast fashion is a threat to the environment, gives rise to social problems, and majorly contributes to climate change.
    • It heavily influences many aspects and brings about negative changes.

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    Problem with H&M and Fast Fashion

    Climate change is real and it is happening. No matter how long the World leaders may deny it and entrepreneurs may go on with the sole aim of making money. Using, exploiting, polluting the resources as well as ignoring what they are doing to the planet.

    Wastage of Water

    Not to mention the gallons and gallons of water that go into the making of the clothes. That also involves generating 20% of the wastewater. Plus dumping microplastics into our oceans, which is half a billion tons of it.

    The growing culture of exploiting laborers

    How are these companies able to manufacture their clothes so quickly? There has to be someone involved, and yes, here come the laborers. Brands involved in the fast-growing fashion industry exploit their workers. They are exploiting their basic human rights.

    Making them work for insane work hours with only little pay. These laborers also include children from developing countries. The labor policies are not ethical with gender inequality, forced labor, and freedom of association. This issue has been brought up constantly, by many activists and other personalities and this inhumane practice must be put to an end.

    A report issued in 2016 by Human rights group Asia Floor Wage Alliance (AFWA) also reported cases of sexual harassment and low wages.

    Sustainable Fashion and the Conscious Collection

    People are looking for clothes that are more sustainable, recycled, or been. Thrift shops are a new option available in the market. Thrifting is becoming a thing now. Consumers are more aware now and prefer clothes made in an eco-friendly way. Even though the Swedish brand has come up with its “The Conscious Collection” H&M has been criticized by many regarding what it deems is sustainable.

    Hasan Minhaj on Fast fashion

    The famous show Patriot Act with Hasan Minhaj, which creates awareness about the issues that are important in a fun way, all the while educating us about how we can make a difference for good, is a Netflix show. The problem of the fast fashion industry is as real as it gets. The extent of it is such that Hasan Minhaj had to go to an episode of thirty minutes; the Ugly Truth of Fast Fashion.

    He smartly covers every aspect of the fast fashion industry and how it is changing the business model in his unique comedy series in 2019. The episode is a must-watch as it brings out the flip side of fast fashion.


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    What happened to H&M in Africa?

    Back to 2015

    Featuring lesser Black models in their advertisements was observed by the people, accusing H&M Africa of racism. The brand tweeted, saying that marketing their campaigns, they wanted to convey their image positively.

    And show fashion in the light of inspiring way conveying the feeling of positivity since their marketing campaigns have a huge impact.

    Taking that, they communicated that the “white models” portray a “positive image” for the brand. It faced more backlash from the people. Another tweet came saying:

    “We have worked with many models from various ethnic backgrounds in our campaigns.”

    Cultural appropriation? Not for the first time!

    Belonging to the H&M Loves music summer collection, which was a limited edition, a faux leather headdress was called out by the Native Americans.

    H&M Headdress
    H&M Headdress

    The line was designed to include clothing and accessories for music festivals and similar events. The headdress was later removed from the US and the Canadian stores.

    Racist Advertisements and Culture appropriation

    H&M closed all its stores in South Africa after the protestors from the Economic Freedom Fighters (EFF) organized mass protests and thrashed the stores over the racist ad in 2018. The ad revolved around a Black child model with a green hoodie, reading the text “Coolest monkey in the jungle” As you are aware, calling someone monkey is used as a slur.

    People on social media called out H&M for its racist ad. The image was later taken down from their website. Some of the celebrities that had signed contracts with H&M said that they would no longer be working with the brand. Some expressed shock.

    LeBron James on its Instagram expressed his opinion on H&M's ad
    LeBron James on its Instagram expressed his opinion on H&M’s ad

    H&Ms decision to close their stores in South Africa came after a drop in their quarterly sales in a decade.


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    Other fast fashion brands and H&M and the need to do better

    These fast-fashion brands in the industry need to draw a clear line between making a profit and working with ethics. The business model of the fast-fashion industry is only leading to more problems.

    The ad campaigns and the ads have to be designed by doing their research work. Keeping in mind the sentiments of the people as they have a huge impact. These brands need to draw a line on innovation and cultural appropriation.

    FAQ

    What is fast fashion?

    In the fast fashion industry fast, quick, and trendy clothes are made for the consumers that are made and distributed rapidly among its consumers.

    What are some of the fast fashion brands?

    Zara, H&M Group, UNIQLO, GAP, and Forever 21 are some of the top fast fashion brands.

    What are the disadvantages of fast fashion?

    The disadvantages of fast fashion are, not paying fair living wages to workers, poor working conditions, child labor, environmental destruction and increasing amounts of water pollution.