Though the number of the wealthiest people on the continent continues to dwindle, it has seen the addition of some of the youngest billionaires in Africa. This addition has, thus, changed the trajectory of the number of billionaires on the continent.
In the past years, the African billionaires’ list has seen the reoccurrence of the same set of people. Some, however, have dropped off the list and are yet to retain their billion-dollar spot due to the harsh business environment.
These young billionaires have established and proved themselves despite these harsh economic realities. Here are some of the youngest billionaires in Africa.
Mohammed Dewji – $1.5 billion
The youngest billionaire in Africa is 47-year-old Tanzania’s Mohammed Dewji, who made his fortune from the conglomerate METL Group, his father founded in 1970.
Since taking over the leadership of the business, he has expanded its scope and footprint to other African countries.
The METL is involved in producing textile, flour milling, beverages and edible oils in East, Southern and Central Africa.
Patrice Motsepe – $2.7billion
Motsepe, 60, is the second-youngest billionaire in Africa and South Africa’s youngest billionaire.
He became a billionaire in 2008 and made billions from the mining industry, where he sits as the chairman and founder of African Rainbow Minerals.
To invest and expand his tentacles to other African economies, he founded African Rainbow Capital in 2016.
Motsepe’s love for football made the billionaire acquire Mamelodi Sundowns Football Club, where he serves as the president and owner.
Strive Masiyiwa – $1.9billion
By leveraging the opportunities in the telecommunication industry, Strive Masiyiwa, 61, became the wealthiest man in Zimbabwe. In 1998, he founded the mobile phone network: Econet Wireless.
From the company’s inception to now, he owns 50% of the publicly-traded Econet Wireless company. Apart from Econet Wireless, he owns part of Liquid Telecom and holds assets in African countries’ mobile phone networks.
He also owns companies in other sectors, which makes up the Econet Group.
Yasseen Mansour – $1.1billion
The 61-year-old business tycoon is an Egyptian billionaire with stakes in his family-owned company Mansour Group.
Through the family business founded by his father in 1952, Mansour amassed wealth and built a name in Africa and beyond.
The family company, Mansour Group, serves as the main distributor of general motors (GM) vehicles and Caterpillar equipment on the continent.
Aziz Akhannouch – $1.9billion
Although Aziz Akhannouch’s father founded Akwa Group in 1932. The 61 years old Moroccan billionaire grew it into a multibillion-dollar group of companies.
Akwa group uses the publicly traded companies Afriquia Gaz and Maghreb Oxygene to transact in oil, gas, and chemicals.