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Browsing: Africa’s richest countries
- South African Johann Rupert has overtaken Dangote, becoming Africa’s richest person in a move that highlights the tectonic shifts sweeping across Nigeria and South Africa’s economies.
- While Rupert’s wealth soared, Dangote’s fortune took a gut punch, contracting by $1.7Bn this year to $13.4Bn.
- Richemont, with its portfolio of luxury brands, operates in a global market that is less vulnerable to the economic woes of any single country unlike the Dangote Group.
The crown for Africa’s richest man has left Nigerian industrialist Aliko Dangote to South African luxury goods icon Johann Rupert. For over ten years, Aliko Dangote seemed unassailable, with his name often being synonymous with wealth, increasingly representing a new breed of modern-era industrialists, and power in Africa.
In the latest disclosures according to the Bloomberg Billionaires Index, however, South African Johann Rupert has overtaken Dangote, becoming Africa’s richest person. This change underscores some of the tectonic shifts …
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According to the United Nations Environment Programme (UNEP), the continent holds 30 per cent of the world’s mineral reserves
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Despite being endowed with these resources, the continent still lags in development partly due to colonisation and corruption
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By 2050, the African economy is expected to reach a Gross Domestic Product (GDP) of US$29, driven by agricultural, trade, and natural resources investments
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Nigeria has the largest economy in Africa, followed by South Africa and Egypt
Africa is a blessed continent with a large quantity of natural resources, renewables and non-renewables.
According to the United Nations Environment Programme (UNEP), the continent holds 30 per cent of the world’s mineral reserves, eight per cent of the world’s natural Gas and 12 per cent of the world’s oil reserves.
“The continent has 40 per cent of the world’s gold and up to 90 per cent of its chromium and platinum. The world’s largest reserves