Wednesday, January 11, 2017

Dewji listed Africa’s youngest billionaire

Mr Mohammed Dewji at a past event. PHOTO|FILE

Mr Mohammed Dewji at a past event. PHOTO|FILE 

By Alfred Zacharia @TheCitizenTz

Dar es Salaam. Forbes has listed Mr Mohammed Dewji is Africa’s youngest billionaire for 2016/17.

Mr Dewji, 41, has an estimated wealth of $1.4 billion accumulated from his diversified businesses. He’s amongst the 21 richest people in Africa. “I’m humbled and honoured,” he told The Citizen by phone.

Forbes published its annual African rich-list, listing the 21 richest people living in Africa who make up a net worth of $70 billion. However, this is down from the 2015/16 list which featured 23 African billionaires worth a combined $79.8 billion, which is in turn was down from 28 African billionaires in 2014.Angolan President José Eduardo dos Santos’ daughter, Isabel, 43, is the second youngest billionaire with net worth of $3 billion. She is involved in various investments.

The other 10 youngest billionaires in Africa are from Nigeria (5), Egypt (3) South Africa (1) and Morocco (1) with the average of below 63 years.

The list shows that the world’s youngest billionaire is Norwegian Alexandra Andresen, 20, with worth of $1.2 billion. He is engaged in investments.

Nigeria’s Aliko Dangote, 59, has topped the list of the 21 African billionaires with net worth of $15.4 billion generated from producing cement, sugar and flour. However, US billionaire Bill Gates, 61, has topped the global list with $75 billion, dealing with his Microsoft software.

South Africans and Egyptians make up the majority on the list, each boasting six billionaires - although South Africa boasts the greatest amount of wealth, worth a combined $22.7 billion, $7 billion more than Egypt’s six billionaires.

Only two female billionaires feature in Africa’s richest: Angola’s Isabel dos Santos – Africa’s richest woman with a $3.2 billion fortune, and Nigeria’s Folorunsho Alakija.

Forbes is an American business magazine. Published bi-weekly, it features original articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, and law. Its headquarters is located in Jersey City, New Jersey. Primary competitors in the national business magazine category include Fortune and Bloomberg Businessweek.