Countdown to Africa’s richest man

Last week we profiled Patrice Motsepe, the South African who sits proudly in ninth (9th) position of the ranking of Africa’s richest man.

Remember, 2008 saw the entrance of two new faces to the list of the richest men in Africa as well as one omission from last year’s. It will however be most memorable for the debut of the first Black Africans to join the esteemed company on the list. Not surprising the two, Aliko Dangote and Patrice Motsepe are from Nigeria and South Africa the two countries on which most of the hope for African economic renaissance lies and they join at position 6 and 9 respectively. They say the first million is the hardest so one would guess by the time you get to a billion, it is positively child’s play to make money. We are privileged this week to bring to you number 8 and 7 respectively.

Samih Sawiris (Egypt)
African Rank No.8 – World Rank No.396 – Wealth $2.9 billion

Samih Sawiris is the first of the four Sawiris family members we meet in this list. It has been a good year for Samih as his interests in tourism and leisure have seen his wealth rise from $1.6 billion to $2.9billion. Probably his most significant investment over the year was his commitment to invest $500 million in a luxury alpine resort in Andermatt, Switzerland his first venture outside the Middle East. The resort will comprise a 5-star hotel, apartment and villa, an ice rink all spread over 37 acres.

Aliko Dangote (Nigeria)
African Rank No.7 – World Rank No.334 – Wealth $3.3 billion

Another debutant on the list and the first from Africa’s most populous nation, Nigeria. While the average man on the street in Nigeria would insist that the country has produced many billionaires, mostly former heads of state and their cronies, Dangote represents a break from this tradition as a man who has created his wealth in a comparatively transparent manner. His interests in sugar, cement and food have propelled him to the top of the pile in Nigeria.

His close relationship with former Nigerian President Obasanjo some argue has fuelled his wealth and Obasanjo’s exit from power last year, saw Dangote’s influence wane somewhat typified by the revocation of his purchase of former state- owned refineries by the new government. (NEXT WEEK WE PROFILE NUMBER 6)