Africa’s wealthiest 50 are worth $95.6 Billion, a decline of $15 billion from a year ago.Nigeria’s Aliko Dangote retained his spot as number one richest African for the fifth year in a row, but his $16.7 billion net worth is nearly $5 Billion,lower than a year ago, a result of a drop in the stock price at his Dangote Cement and a weaker Nigerian currency.
On the list there were
-16 South Africans,up from 11 last year.
-10 Nigerians down from 13 last year.
-8 From Morocco
-7 From Egypt,
-3 From Tanzania
– 3 from Kenya.
-There was one each from Algeria, Angola and Uganda.
THE TOP 3 RICHEST IN KENYA
1 Bhimji Depar Shah & Family
NET-WORTH; KSH. 71.4 Billion ($700 Million)
SOURCE OF WEALTH; Consumer Goods(Bidco)
CITIZENSHIP; KENYAN
- •31 Richest Man In Africa 2015
- •33 in 2014
Bhimji Depar Shah is the founder of Bidco Industries, which is one of the largest manufacturers of edible oil in Tanzania. The annual revenue of the company is more than $500 million.In 1985, the company ventured into soap production. In 1991, it launched an edible oil manufacturing plant in Thika, an industrial town northeast of Nairobi. Today, Bidco is one of the largest manufacturers of edible oils in Kenya. The company also manufactures detergents, beauty soaps, baking powders and edible oils, grossing over $300 million in annual revenues. Bidco’s products are marketed in 13 African countries. Bhimji’s son, Vimal Shah serves as CEO.
2 Narendra Raval
NET WORTH KSH. KSH 40.8 Billion($400Million)
SOURCE OF WEALTH;Steel and Cement Production Through
DEVKI GROUP OF COMPANIES ;
-Devki Steel Mills
-Maisha Mabati
-National Cement Company
MARRITAL STATUS; Married
Narendra Raval of Kenya, new to Forbes list of Africa’s Richest this year, is popularly referred to as ‘Guru’, has investments in steel, aluminum and cement. Born in India, Raval served as an assistant priest at a Swaminarayan temple before relocating to Kenya as a teenager to serve in another temple.
He was expelled from the sect when he married to a Kenyan woman, and decided to take up a job in a small steel factory where he learnt steelmaking. In 1986, pulling together his savings, he started a small steel processing and trading outfit with his wife in downtown Nairobi.
That small operation has grown into Devki Group, the largest manufacturer of steel products in East and Central Africa. The $500 million (revenues) company manufactures cement, reinforcement bars, and barbed wire. The group’s cement division, National Cement Company, manufactures Kenya’s bestselling Simba cement. Raval, a devoted philanthropist, supports a string of orphanages.
3 Naushad Merali
AGE; 64 Years
NETWORTH ; Ksh 37.7 Billion ($370Million)
SOURCE OF WEALTH; Investor
MARRITAL STATUS ;Married to Zarin Merali, who is a director for the Kenyan Paraplegic Organisation and an interior design consultant.
Kenyan millionaire investor, Merali is the founder and Chairman of the Sameer Group,A Nairobi Securities Exchange Listed firm with interests in construction, agriculture, property, IT and finance
He was formerly the chairman and largest individual shareholder of Bharti Airtel’s operations in Kenya, but in 2014 he sold his shares and stepped down from the company’s board.He is remembered as the man who made Ksh 1.6 Billion in an hour when he sold his stake in Airtel Kenya.He also has interests in Mumias Sugar,Uchumi Supermarkets,Commercial Bank of Africa among many others.
Forbes purposely excluded dispersed family fortunes of the Chandaria family of Kenya and the Madhvanis of Uganda, because the wealth is believed to be held by dozens of family members.
For full list of Africa’s 50 Richest, see here
