By Khalifa Said
Dar es Salaam —
Businessman Mohammed Dewji's fortune shrunk by $300 million (Sh960
billion) last year, according to Forbes' latest ranking of ...
Africa's
billionaires listing in 2020.
But, despite the
loss, the Tanzanian businessman - popularly known as 'Mo' - maintained
the position of the continent's youngest billionaire for six straight
years with a value of $1.6 billion (Sh3.7 trillion).
Nigerian tycoon
Aliko Dangote is still Africa's richest man with a fortune of $10.2
billion (Sh23.5 trillion) according to the Forbes ranking. Mr Dangote
who has invested in a cement factory in Mtwara saw his income for the
period under review drop by $200m (Sh460 billion). Mr Dewji, the CEO of
Mohammed Enterprises Tanzania Limited (MeTL) had a fortune of $1.9
billion (Sh4.4 trillion) in the 2019 ranking.
Yesterday the
businessman told The Citizen that the drop in the fortune was due to his
long term investment in Agri-business. "I aim to become the largest
sisal producer in the world in two years," said 'MO', thanking President
John Magufuli's policy on investment. He said the government was doing
"a great job" in promoting investment.
MeTL is active in
textile manufacturing, flour milling, beverages and edible oils in
eastern, southern and central Africa. Operating in at least six African
countries, the company's ambition is to expand operations to several
other countries.
Mr Dangote, the
founder and chairs of the Dangote Cement, the continent's largest cement
producer, owns nearly 85 per cent of publicly-traded Dangote Cement
through a holding company. Dangote Cement produces 45.6 million metric
tonnes annually and has operations in ten countries across Africa. Mr
Dangote also owns stakes in publicly-traded salt, sugar and flour
manufacturing companies.
Mr Nassef Sawiris,
"a scion of Egypt's wealthiest family," according to Forbes, comes
second in the list, after Mr Dangote with $8.1 billion real time net
worth as of yesterday. Mr Sawiris runs Orascom Construction Industries,
one of the world's largest nitrogen fertilizer producers, with plants in
Texas and Iowa; it trades on the Euronext Amsterdam exchange. Mr Mike
Adenuga, regarded as Nigeria's second richest man, comes third in the
list with real time net worth of $7.7 billion of yesterday. Adenuga
built his fortune in telecom and oil production, according to Forbes.
His mobile phone network, Globacom, is the third largest operator in
Nigeria, with 43 million subscribers. He made his first million at age
26 selling lace and distributing soft drinks, according to Forbes.
Others on the list are Nicky Oppenheimer & family ($7.7 billion real time net worth).
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