5 Deals That Made African Billionaires
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Billionaires - August 23, 2023

5 Deals That Made African Billionaires

In Africa, some people became super rich because of some really big business deals. Aside from the fact that these deals have made them so much money, it has also changed how things work in different industries and even in the whole continent. These special businesspeople who have metamorphosed into African billionaires saw chances and faced tough situations to invest in things that brought them lots of money. 

They made these smart moves and never gave up, even when things got hard, which helped them become billionaires. These articles show some deals that positioned or contributed to the billionaire status of some African billionaires. Let’s dive in

Aliko Dangote 

Nigerian billionaire, Aliko Dangote made some big business moves. He sold a small part, about 2.3%, of his cement company, Dangote Cement, to people from other countries. This sale brought in a huge amount of money, around $236 million. The deal was put together by two stockbrokers, Stanbic IBTC and Meristem.

This wasn’t the only time Dangote made such deals. Before this, he sold a bit of his company too. In 2013, he sold about 1.5% of his company to a group from South Africa called Public Investment Corporation (PIC). They paid him a big amount, $289.3 million. And even before that, he sold around 1.4% to another group from Dubai, the Sovereign Fund Investment Corp of Dubai (ICD). They paid him $300 million.

Mike Adenuga 

One of Mike Adenuga’s big achievements that made him a billionaire was when he founded Globacom, Nigerian multinational telecommunications company. He initially ventured into the sales of crude oil for which he got a license, however, founding Globacom was a big deal. This telecommunications venture marked the pinnacle of his success story. Recognizing the need for affordable communication services in Nigeria, Adenuga founded Glo in 2003. Glo’s transformative impact, coupled with Adenuga’s strategic acumen, played a pivotal role in propelling him towards billionaire status.

Patrice Motsepe 

One of the most significant deals that propelled Patrice Motsepe to billionaire status was when he secured a vendor financing loan from Anglo Gold which allowed him to turn some of his underperforming assets into profitable ventures, forming the cornerstone of his mining company, African Rainbow Minerals (ARM). Motsepe then combined his gold mining enterprise, ARM, with another notable gold mining firm known as Harmony Gold in 2003. Following that, he proceeded to acquire Anglovaal Mining in 2004.

This strategic achievement not only marked his emergence as the first black African billionaire but also showcased his adeptness at turning challenges into opportunities, underlining his transformative impact in the mining industry and economic empowerment landscape.

Nicky Oppenheimer 

Nicky Oppenheimer, a billionaire from South Africa, made a huge business move that boosted his wealth. His family used to own a big part of De Beers, which is the world’s largest company for rough diamonds. But in 2012, they sold this share to Anglo-American, another big company, for a massive $5.2 billion. This deal was a game-changer because his family used to be in control of the diamond business all around the world.

This sale made Nicky really rich, and now he’s the third richest person in Africa with around $8.3 billion. He doesn’t just have money, he’s also a big landowner. He owns a lot of land, about 720 square miles, in countries like South Africa, Botswana, Zimbabwe, and Mozambique. This land is set aside for conservation, which means protecting and taking care of nature. Nicky’s journey shows how smart business decisions can lead to big success and a positive impact on the environment.

Koos Bekker 

Koos Bekker is well-known for transforming the South African Media Group Naspers into a major player in e-commerce and cable TV. Because of this move, Naspers has grown a lot. He achieved this by making a significant deal back in 2001. Naspers paid $34 million to buy a third of a Chinese Internet company called Tencent Holdings.

Now, it operates in about 130 different countries and is even listed on stock exchanges in London and Johannesburg. Koos Bekker’s strategy and this important deal turned Naspers into a big success story in the world of media and technology.

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