When billionaires came calling

 

President Uhuru Kenyatta (right) when he led Kenya’s delegation in bilateral talks with Nigerian investors, led by their President, Dr Goodluck Jonathan (left), at State House, Nairobi, last week. FILE 

By WANGUI MAINA and DOREEN WAINAINAH

In Summary

• Filthy-rich Nigerian businessmen and women landed in the country in private jets in search of new business opportunities.

The lobby at Intercontinental Hotel came alive last week as some of the richest men in Africa checked in ready to cut major business deals in Kenya.

The Nigerians, led by their President Goodluck Jonathan, had landed in town in style.

Wearing designer suits and expensive-looking traditional agbadas, the large delegation of billionaires, business men and women, industry captains, governors and government officials created a buzz in Nairobi for the three days they were in town.

After all, when did we last have a group of billionaires coming to town all at the same time?

The delegation of over 50 high profile businesspeople from Nigeria, with a combined net worth running into billions of dollars, landed at the Jomo Kenyatta International Airport in about 10 private jets.

Commercial airlines plying West African routes, including Kenya Airways, also did booming business ferrying the ones who did not fly in personal jets.

President Jonathan and his delegation were in Kenya to strengthen economic ties between West and East Africa’s biggest economies. Major deals were signed and others left to be announced in the near future.

Back at Intercon, the Nigerians did not only overwhelm their Kenyan hosts with the amount of wealth each represented but also by their diligence to time keeping.

By the time their Kenyan hosts arrived at the conference room on Friday morning, the Nigerians had taken charge of the venue, having put up their banners well ahead of their Kenya hosts.

“At one point, it looked like the Nigerians were hosting the Kenyans. Is it any wonder that these guys are making so much money for their companies? They know the meaning of the saying, “Time is money.” And they take this seriously,” said a Kenyan businessman who was at the conference.

High-net worth

Leading the delegation was Africa’s wealthiest man, (according to the Forbes list of billionaires 2012) and 25th richest person in the world, Aliko Dangote. The self-made billionaire, owner of Dangote Group, is estimated to have a net worth of about $16.1 billion (Sh1.4 trillion). This is said to have gone up to $20 billion in the recent past.

During the visit, Dangote, 56, announced plans to put up a Sh34 billion ($400 million) cement factory in Mombasa. The billionaire is known to be scouting for business in Kenya and is expected to invest in a number of sectors, including limestone mining.

Africa’s 19th richest man, Jim Ovia according to the Forbes List of November 2012, was also in town. He is the founder of Visafone Communication and boasts of a net worth of $825 million (Sh71.8 billion).

Oba Otudeko, Africa’s 26th richest man, according to Forbes list of African billionaires, with a net worth of about $575 million (Sh50 billion) was also in town. The tycoon’s conglomerate Honeywell Group has interests in oil, gas, flour milling, real estate and marine transportation