3 Deals That Made African Billionaires
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African CEOs - July 20, 2023

3 Deals That Made African Billionaires

The wealth and recognition enjoyed by African billionaires today can be closely linked to some game-changing deals. These African entrepreneurs defied all odds to embark on some deals that catapulted them to the top.

These deals are just a few examples of the many successful businesses that are operational in Africa. They also highlight the growing economic power of Africa and the potential for African businesses to succeed on a global scale.

This article explores three deals that made and contributed to the significant fortune these African billionaires enjoy today. Let’s dive in.

Nicky Oppenheimer

First on our list is the South African billionaire, Nicky Oppenheimer. Nicky sold his family’s 40% stake in De Beers, the world’s largest rough diamond producer, to Anglo-American for $5.2 billion in August 2012.

Before the deal, his family occupied a controlling spot in the world’s diamond trade. With a $8.4 billion networth, Nicky sits as the third richest man in Africa. He owns at least 720 square miles of conservation land across South Africa, Botswana, Zimbabwe, and Mozambique.

Aliko Dangote

Nigerian billionaire, Aliko Dangote also sold a 2.3 per cent stake in his cement firm, Dangote Cement to foreign buyers. The deal which was valued at $236 million was negotiated between Stanbic IBTC and Meristem stockbrokers.

This came after Dangote Industries sold a 1.5 per cent of its 95 per cent stake to South Africa’s Public Investment Corporation (PIC) for $289.3 million in 2013 and a 1.4 per cent stake to Sovereign Fund Investment Corp of Dubai (ICD) for $300 million. 

Considered one of Nigeria’s biggest companies, Dangote Cement was listed on the NSE in 2010. 

Koos Bekker

Koos Bekker is celebrated for turning South African Media Group Naspers into an e-commerce investor and cable TV powerhouse. He did this by overseeing a deal that saw Naspers pay $34 million for a third of Chinese Internet firm Tencent Holdings in 2001.

Today, the company currently operates in 130 countries and is listed on the London Stock Exchange and Johannesburg Stock Exchange. It also has the largest market capitalization of any media company outside the US, China and India.

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