Here Are World Economic Forum Top Five African Female Innovators

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  Here Are WEF Top Five African Female Innovators

  BUSINESS

• At the just concluded World Economic Forum in Kigali, five dynamic young female innovators were recognized as Africa’s Top Female Innovators making a difference in their communities.

• As the curtains came down in Kigali, which was hosting World Economic Forum, five winners of the conference’s challenge to find Africa’s Top Female Innovator were announced.

  The dynamic young women are innovators from a range of fields including health insurance, solar-powered vending carts, biomedical materials, IT training and food processing. They hail from Kenya, Rwanda, South Africa, Tanzania, and Uganda.

  Africa has the youngest population in the world and reports indicate that it will double by 2045. In regards to this, several global leaders have indicated that Africa’s future lies in the hands of its youthful population. The region’s start-up ventures are gaining confidence and scale with a number of them being recognized beyond the region’s borders. However, there is a need to create an enabling environment that allows entrepreneurs to flourish. This is particularly the case for women entrepreneurs, whose potential is far from being optimized. This was the reason for a World Economic Forum challenge to find Africa’s top women Innovators.

  “I strongly believe that the 21st century will be Africa’s century, that its young population has the potential to build the world where they are not only materially better off, but also where things are fairer, more sustainable and more tolerant than at any other time in history. But this will not be achieved unless women are able to make a full contribution. This is why we are showcasing Africa’s best female entrepreneurs in Kigali this week,” said Elsie Kanza, Head of Africa at the World Economic Forum.

  The challenge required entrant companies to be less than three years old, be earning revenue for at least a year and have proven innovation and positive social impact. Here is the list of the winners of the Africa Top Women Innovators Challenge 2016:

  Audrey Cheng, Moringa School, Nairobi, Kenya

  Moringa School established by Audrey Cheng is aimed at enabling a whole generation to gain the skills they need to compete in the digital economy. For the past two years, graduates work in top tech companies in the region, earning on average 350 percent more than before they completed the coursework.

  Lilian Makoi Rabi – bimaAFYA, Tanzania

  Lilian Makoi’s bimaAFYA a mobile micro-health insurance is targeted to the low-income and informal sector dwellers. With its completely mobile, paperless solution, it offers reduced healthcare services. BimaAFYA plans to expand to Kenya, Uganda, Rwanda, Nigeria and Ghana by 2017.

  Nneile Nkholise – iMED Tech Group, Bloemfontein, South Africa

  iMED Tech Group’s goal is to design breast and facial prostheses for cancer and burn victims. The company only employs African women under the age of 30 with research backgrounds in mechanical engineering.

  Larissa Uwase – Carl Group, Kigali, Rwanda

  An agronomist by training, Larissa Uwase’s latest innovation, in partnership with the University of Rwanda, is to make spaghetti from sweet potato. Carl Group is improving the health of Rwandans by utilizing the nation’s staple crop.

  Natalie Bitature – Musana Carts, Kampala, Uganda

  Using economic innovation, Musana Carts develop environmentally friendly, solar-powered vending carts. With a price point of $400, each Musana Cart saves 3,000 tons of carbon emissions and improves the health of cities by eliminating pollution from charcoal and kerosene stoves.
  The following were also recognized:
  • Oyindola Honey Ogundeyi, FashPa Online, Nigeria
  • Mercy Kitomari, Nelwa’s Gelato, Dar es Salaam, Tanzania
  • Louisa Ofusuah Obimpeh, Pooparazzi, Accra, Ghana
  • Evelyn Namara, !nnovate Uganda
  • Elizabeth Nyeko, Mandulis Energy, Uganda

Lessons From Miloud Chaabi, the Goat-herder Who Died a Billionaire

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  Miloud Chaabi, the Goat-herder Who Died a Billionaire

  ENTREPRENEURSHIP016

• He was the African definition of a self-made billionaire having come from very humble beginnings to becoming arguably the richest man in Morocco.
• Miloud Chaabi was a Moroccan business mogul who died on the 16th of April, 2016 after living what many would consider a fulfilling life. He was the African definition of a self-made billionaire having come from very humble beginnings to becoming arguably the richest man in Morocco. His net worth in the last Forbes estimation came just shy of a billion United States dollars due to a fall in the share price of the proxy used by Forbes for valuation of Chaabi’s assets. In prior years, his worth had rocketed to a monstrous $2.1 billion, which had made him the richest man in Morocco. Just how did a goat-herder end up with so much wealth?

  He started young

  Miloud Chaabi was born on the 15th of September, 1930 in Morocco’s Chadma. He acquired his education from a mosque and started working as a goat herder and a farmer. By fifteen, Chaabi had saved up enough money to finance his move from Marrakech where he stayed to Kenitra. With an obviously sharp mind and insurmountable resolve, Chaabi managed to register a construction company at the very tender age of nineteen in 1948. If the mogul’s start should teach Africans anything, it is that there is never a time called “too soon” to start going after success. African youths may want to take a leaf from Chaabi and cultivate a spirit of saving and investing.

  He dared to move out of his comfort zone

  In Kenitra, the goat herder did not get a red-carpet welcome into the world of entrepreneurship. If anything, the odds were against him since business was restricted to the French, Jews and well known Moroccan families. Chaabi was obviously out of his depths here but his success is testament of the fact that no success is ever recorded from not trying. When taken into today’s context, the economies of some African countries are not as inviting for business but only those who dare take calculated risks have any chance of achieving the success they seek.

  He followed his bliss…Aggressively

  After considerable success with his construction venture, Chaabi developed an interest in the ceramic industry and started his own ceramic company in 1964. After gaining sufficient expertise in the field, he was now on the lookout for investment opportunities. His offer to invest in a French company was however rejected but this did not deter him. This was the turning point in Chaabi’s life as he strategically drove the company to the verge of bankruptcy. His point of attack was simple; providing quality products at competitive prices. The French company capitulated and sold all of its property to Chaabi who then founded the YNNA Group, one of the most powerful Moroccan companies even now. It is a plot twist of biblical proportions; a shepherd boy was able to strike down the proverbial Goliath using tact and drive. YNNA now “develops real estate, operates hotels and supermarkets, and is the majority owner of SNEP, a chemical manufacturer in Morocco”.

  He stuck to his values

  Being able to start companies and acquire property is a skill on its own but values kept Chaabi where he was. He was a very religious man who did not allow his changing role in the society to change him. Ventures Africa has him on record saying, “Bribe seekers know who to look for and my company’s reputation for integrity means I never get hassled into bribery.”
  His hotels and supermarkets did not sell alcoholic beverages in line with his beliefs. Chaabi also happened to be a big community aid provider through his Miloud Chaabi Foundation; one of the biggest organisations of its kind in Northern Africa. The high point of his “giving back” was when he gave 10% of his fortune towards the building of the first American University in Morocco in conjunction with the University of Maryland, College Park USA. Of Miloud Chaabi, Emerald Emerging Markets said, “Virtually all the decisions taken within his companies are influenced by his moral convictions and his values. Miloud Chaabi, listed in Forbes Magazine as one of the top 40 billionaires in Africa is a principled and revered individual who has been spiritually leading his businesses in various sectors since 1948.”
  Every entrepreneurial story is unique in its own way and not everyone will ply the same route taken by Chaabi with equal success but surely his rags to riches story should inspire more Africans to make moves where they are stationed.

Top Five Entrepreneurship Training Programs in Africa

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  Top Five Entrepreneurship Training Programs in Africa

  ENTREPRENEURSHIPer

• •  Mon, Jul 6, 2015
• You may be wondering what entrepreneurship really is, and where you might go to learn about how to do it right.
• Entrepreneurship is almost a buzz word today. You may be wondering what entrepreneurship really is, and where you might go to learn about how to do it right. Well, you are in luck! Today, The African Exponent brings you the top entrepreneurship education programs in Africa
  1. The Akilah Institute for Women
  Founded by Elizabeth Dearborn and her husband Dave, the Akilah institute aims to train young African women with the goal of equipping them with market relevant skills that enable them to find rewarding jobs after graduation. The institute offers courses in Entrepreneurship, Information Systems and Hospitality. It currently has campuses in Rwanda’s Kigali and Burundi’s Bujumbura. If you are a young African woman looking to get some Fquality education, The African Exponent recommends that you consider the Akilah institute. Here is a video of Ms. Elizabeth’s interview with the Forbes magazine.
  2. Ashesi University
  A real trailblazer, Ashesi University,  “aims to educate a new generation of ethical, entrepreneurial leaders in Africa”, with a strong emphasis on cultivating critical thinking and leadership skills among its students. The university, located in Ghana, was founded by Dr. Patrick Awuah. Dr. Awuah quit microsoft to start the institution, which has been doing exceptionally well.
  3. The African Leadership Academy
  With the goal of building the next generation of African leaders, the African Leadership Academy (ALA), has been educating students since 2008. Its training curriculum couples standard secondary school classes with a number of entrepreneurship courses and activities. It’s founder, Fred Swaniker, has now founded the African Leadership Universitywith the goal of continuing ALA’s mission. The school is located in the outskirts of Johannesburg, South Africa.
  4. The Branson Center for Entrepreneurship in South Africa
  Founded in 2005 by Richard Branson, who is arguably the foremost entrepreneur of our time, this institute supports budding entrepreneurs and empowers them to achieve their dreams.  It provides the resources and inspiration that these entrepreneurs need so as to scale their ventures and create more jobs. Due to its success, Richard Branson started a similar center in Jamaica.
  5. The Meltwater Entrepreneurial School of Technology
  Founded in 2008, this Ghanaian based institute provides aspiring African entrepreneurs with a fully sponsored twelve month- long intensive program aimed at equipping them with the skills to take their ventures to the next level. Subjects include computer programming, software development, product management, finance, marketing, sales and leadership training.

Africa’s Most Democratic States: Comoros, Benin, Cape Verde

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  Africa’s Most Democratic States: Comoros, Benin, Cape Verde

  POLITICS6

• Africa’s smallest nations are proving that the continent can achieve democracy if leaders, opposition parties, civil groups, and unions played their roles without prejudice or malice.

• With most nations in Africa caught up in election disputes that have led to wars, discontentment and a range of other ills, Africa might be viewed as a cursed continent. But not so fast. The region has not lost it all when it comes to democracy, at least not with the smaller nations like Comoros, Benin, and Cape Verde.

  The three states continue to show that there is hope for Africa’s democracy.

  Constitutional court orders a re-run in Comoros

  On Wednesday, Comoros is set to hold a partial re-run in 13 constituencies, of the disputed second round of the presidential poll held on April 10.
  The re-run which was ordered by the country’s constitutional court following irregularities in the second round vote will give the country a president without so much of the hullaballoo witnessed in other African countries like Uganda.
  Uganda’s disputed February elections which gave President Yoweri Museveni another term to add to his 30 years of rule in the east African country has been opposed by the opposition. It is almost two months down the line, and there are no signs of a re-run to settle the doubts.
  Comoros has just under 800,000 people and has in the past experienced instability and guerrilla wars. Since attaining its independence from France in 1975, the country has experienced more than 20 coups or attempted coups. While the nation is still grappling with poverty, it still should be emulated by the rest of Africa as pertaining elections and dealing with political disputes.
  Following the April elections, the United Nations Secretary-General Ban Ki-mooncommended the Comorian people for maintaining peace while fulfilling their civic duty by taking part in the second round of the elections for President of the Union of Comoros and for Governors of Grande Comore, Anjouan, and Mohéli.

  Orderly presidential polls in Benin

  A month before Comoros’ presidential polls, Benin held its elections. The latter was lauded for conducting orderly polls in March.
  Benin’s businessman Patrice Talon won the presidential seat with just over 65 percent of the vote, and without so much ado, his rival, Lionel Zinsou conceded defeat a day earlier when provisional results were released. The election was praised both by winners and losers who termed the process as smooth.
  Princeton professor, Leonard Wantchekon told RFI he was thrilled to see democracy play out in his country.
  Although Prof Wantchekon, a pro-democracy student activist in the 1970s and 1980s, fled Benin after 18 months in prison, he expressed optimism that Benin was headed in the right direction.
  “For me, is really personal,” he said. “I think this process should be praised. It proves that things can be done well, in an extremely orderly and peaceful way, in Africa.”
  Benin’s democracy was not handed to them on a silver platter. No. The strong opposition and civil society groups have had to play their role to ensure that the leaders are accountable to the citizens. The incumbent president tried to change the constitution, but the plan did not see the light of day, as the opposition, unions, and other groups fought against it, Wantchekon said.
  “There were also rumors that his predecessor wanted to do the same thing, but his ministers opposed it. This shows how deeply-rooted democracy and democratic principles are in Benin. I think the credit for this success has to go to the people of Benin”.

  Smooth exit by Cape Verde’s ruling party

  It went down in history that Cape Verde’s opposition party, the Movement for Democracy, won a majority of the votes, overthrowing the African Party for Independence of Cape Verde, in the parliamentary polls in March.
  After the elections, the chairman of the ruling party, Janira Hopffer Almada, gracefully conceded defeat, once again portraying a good image that should be matched by other nations.
  Cape Verde is expected to hold its presidential election later in August. The country is hailed for its stability and has lived up to that reputation in the past polls, and is hoped to maintain the same come the presidential polls later in the year.
  The tightly contested election in Comoros saw a former coup leader Azali Assoumani win with 40.98 percent of the vote while his close rival Vice-President Mohamed Ali Soilihi garnered 39.87 percent.
  The re-run which will be held on the island of Anjouan might reverse last month’s results.
  The court has said that the new president would be sworn into office by March 26.
  
  
  Image credit: AFP

Gabonese Presidential Elections: A Country at Political Crossroads

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  Gabonese Elections: A Country at Political Crossroads

  POLITICS

• This is an age for African countries to prove to the world they are now politically mature to handle democratic elections without foreign supervision.
• On Saturday, Gabon went to polls to decide whether President Ali Bongo will remain leader of the African country or Jean Ping, Bongo’s former brother-in-law will unseat him. Already, there are claims of voter fraud from both quarters with ambitious predictions of victory being announced. Ping who was a close associate of Ali Bongo’s late father and African Union Commission leader turned against the incumbent in 2014. He told the French newspaper, Le Monde that, “Gabon is a pure and simple dictatorship in the hands of a family, a clan.” It is ironic that he claims the country is in the hands of one family yet he was married to Omar Bongo’s eldest daughter with whom he had two children. Meanwhile, Ban Ki-moon called on “all political stakeholders, in particular the candidates to exercise restraint, abstain from any acts of incitement or the use of inflammatory statements, maintain a peaceful atmosphere before, during and after the election.”

  The big question: Who will bring change to Gabon

  During his last rally in Libreville, President Ali Bongo said, “There is a risk that certain people who did so much harm to our country will come back.” He was referring to Ping who he implied would perpetuate the old system of governance which he said were dominated by disappearing public funds and mismanagement of oil revenues. In fact, his campaign slogan has been “Let’s change together”. Bongo is also on record for calling the opposition “a gathering of witches who want to bring back the old system.” However, Ping has called out Bongo’s attempts to diversify the economy as a mere farce. The opposition has blamed the current government for the current economic distress which it says is due to an inability to diversify the economy. The elections come at a time when Gabon has been affected by the slump in oil prices, a third of the country’s 1.8 million people live in poverty and unemployment among the young hovers in the 35% region. Is Bongo the right person to bring change? The Gabonese people will decide. For his part, Ping has claimed to be “life”. At a recent rally, he claimed Gabon’s economic inequality would persist if Bongo remained in power. His words were, “You have before you two choices. Life and death. If he wins, you choose death. If we win, you choose life.”

  The Birther Movement against Ali Bongo

  A more secondary contention has been raised by the opposition in Gabon against Bongo. The claim is that Ali Bongo is not the late Omar Bongo’s biological son. Even Onaida Bongo, Ali’s own half sister has claimed that his birth certificate was falsified. This is not the first time issues of parentage have arisen in African politics with the Democratic Republic of Congo’s Joseph Kabila and Cote d’Ivoire’s Alassane Ouattara being accused of having hailed from other countries. The Gabonese Constitutional Court held that Bongo was fit to run for presidency and was a true Gabonese but opposition parties have dared him to have a DNA test. Oumar Ba, a political science fellow at the University of Florida has however said, “I think the debate is more about how to end this family’s rule, rather than who is a real Gabonese and who is not, or what ethnicity matters most.”
  The court decision should have been final but continued complaints from the opposition has mainly been an expression of frustration over the 50 year rule of the Bongo family and the establishment of an unofficial dynasty. Bongo says, “It is time to put an end to this story. I truly am my father’s son.”
  The results from the Gabonese elections are expected to trickle in in the next few days. Whatever Gabon decides should be respected by the incumbent and the other candidates. Voter fraud should be dealt with through the courts Citizens and leaders should not resort to street arbitration if things do not go their way. That is never a way to build a country. This is an age for African countries to prove to the world they are now politically mature to handle democratic elections without foreign supervision. 

Africa’s Billionaires List, 2016

• • 

    Africa’s Billionaires List, 2016

    BUSINESS

  • Africa’s richest have a combined $80.96 billion, a drop of $13.04 billion from $94 billion in 2015
  • This year’s Africa’s Billionaires list is dominated by Egyptians, who have a combined net worth of $15.71 billion, just $1.31 billion above the net worth of Nigerian billionaire, Aliko Dangote.
    Dangote continues to soar high according to The African Billionaires 2016 March list released by Forbes, though his net worth took a $1.3 billion compared to end of 2015.
    While this is a positive outlook for Dangote and other wealthy men and women in the list, there were only 24 African billionaires this year, which is a drop by five, compared to 29 the previous year.
    Africa’s richest have a combined $80.96 billion, a drop of $13.04 billion from $94 billion in 2015. The wealthiest group are South Africans with a combined net worth of $22.21 billion. From the 54 African countries, only eight are represented in the list and only two are women.

    A close look of the Top Ten African billionaires

    1. Aliko Dangote

    Source of wealth: Cement, Flour, Sugar, Salt
    Aliko Dangote comes from a family with a strong business background; his great uncle, Alhaji Alhassan Dantata was dubbed the richest African at the time of his death in 1955. Perhaps it is no surprise that Aliko had interests in business from an early age, he apparently started selling sweets while in primary school just to make money. The Nigerian businessman founded Dangote Group in 1981 and thereafter transformed it into a conglomerate comprised of Dangote Sugar Refinery, Dangote Flour and Dangote Cement. Dangote Cement is the biggest cement producers in Africa with capacity of over 20 million metric tones per annum while Dangote Sugar Refinery boosts being the largest Sugar producers in Africa and third in the world, producing an estimated 800 thousand tons of sugar annually. Dangote has expanded his reach beyond Nigeria, to West Africa and across sub Sahara with major presence in Nigeria, Ghana, and Togo. Forbes estimates his current worth to be $16.4 billion. He has been Africa’s richest person since 2013 when he surpassed Mohammed Hussein Al Amoudi.

    2. Michael “Mike” Adenuga

    Source of wealth: Telecom, Oil, Real Estate
    Mike grew up in the Lagos, Nigeria. Born in 1953, Mike worked as a taxi driver to help fund his MBA at Pace University in New York. He started by making his fortune in trading lace and Coca-Cola. In 1991, Mike then founded Conoil (formerly Consolidated Oil Company), the company operates 6 oil blocks in the Niger Delta. The company has three major operating sectors, White products (Industrial and Aviation Fuel), Lubricants and Liquefied Petroleum Gas (LPG), it mainly engages in the manufacture and marketing various petroleum products. He also owns Globacom, the second largest telecommunications company in Nigeria; it also has operations in Ghana and the Republic of Benin. Globacom has an estimated 32 million subscribers in Nigeria. The second richest Nigerian has an estimated net worth of $10.3 billion.

    3. Nicholas “Nicky” Oppenheimer

    Source of wealth: Diamonds
    Nicky Oppenheimer is the richest person from South Africa. His grandfather Ernest Oppenheimer who founded the Anglo American, a multinational mining company and the current world’s largest producer of platinum. Nicky joined Anglo American as the Personal Assistant to the Chairman in 1968 and quickly moved up the ranks to deputy Chairman in 1983. While he amassed some of his wealth from Anglo American, the major source of his wealth is his inheritance of De Beers, one of the leaders in the diamond industry and Tswalu Kalahari Reserve the largest private game reserve in South Africa. Nicholas succeeded his forefathers as the Chairman of De Beers in 1998 in what is sometimes referred to as the Oppenheimer dynasty thus inheriting the family business. He stepped down in 2012 and liquidated 40% of his DeBeers shares to familiar face of Anglo American for $5.1 billion in cash. The 57 year old has an estimated net worth of $6.6 billion.

    4. Christoffel Wiese

    Source of wealth: Retailing
    Christoffel Wiese grew up in Upington, Northern Cape in South Africa. A lawyer by profession, Christoffer left the Cape bar to join a family business as a Director of Pepkor, which originated as the discount clothing retail chain Pep Stores. His Pepkor group currently operates more than 4000 retails with major operations in South Africa, Australia and Poland. Wiese took brief break from Pepkor to venture into diamond mining and politics. In 1980, he returned to Pepkor as Chairman, Pepkor has recently acquired Shoprite Holdings, which he turned into the largest food retailer in Africa. Shoprite operates 1825 corporates and 363 franchise outlets in 15 countries across Africa employing over 136 000 people. In February 2015, Steinhoff purchased Pepkor for $5.7 billion in cash and stock a deal that resulted with Christoffel owning 17% of Steinhoff. This South African has an estimated net worth of $7.3 billion.

    5. Johann Rupert

    Source of wealth: Luxury Goods
    Johann Rupert grew up in Stellenbosch South Africa. Born in 1950, Johann is the eldest son of Anton Rupert who founded Voorbrand, a tobacco company that was later renamed Rembrandt. The Rembrandt group founded Richemont a holdings Swiss company for leading luxury goods companies and Remgro an investment company with particular interests in food, liquor and home care, financial, and industrial companies. Johann Rupert currently chairs both companies. Rupert has a strong interest in sports, a former cricketer himself, he developed Leopard Creek Golf Club in Mpumalanga South Africa which is constantly ranked in the top three of best golf courses in South Africa and he owns part of Saracens a first division English rugby team. The South African has an estimated net worth of $5.4 billion with luxury goods as his main source of wealth.

    6. Nassef Sawiris

    Source of wealth: Construction, Chemicals
    Nassef Sawiris is the richest person from Egypt. He is the son of Onsi Sawiris a businessman who founded Orascom a conglomerate with primary focus on infrastructure, industrial and high-end commercial projects. Nassef joined his father’s venture in 1982, in 2015 Orascom split into Orascom construction that Nassef serves as its non-executive Chairman and Orascom Construction Industries where he serves as a Chief Executive Officer. Sawiris emerged as the largest individual shareholder of Adidas in October; he holds 6% of Adidas shares, which is approximated to worth about $1 billion. Sawiris recently founded Nile Holdings Investment, a private equity fund that invests in different industries with a major focus in Egypt’s health care sector. The 55 years old graduate of University of Chicago has an estimated net worth of $4.4 billion.

    7. Nathan Kirsh

    Source of wealth: Retail, Real Estate, Self Made
    Nathan Kirsh was born in Potchefstroom, South Africa. He later became a permanent citizen of Swaziland in 1986. Kirsh made his first mark into the business arena when he founded Swaziland Mills, a Swaziland corn-milling company. He later expanded the reach of this milling company to become a dominant food retailer in South Africa. The company overextended its reach by committing to building two-dozen malls; unfortunately South Africa was at the edge to extending increasing its international sanctions, a result of which cost Kirsh most of his fortune. Currently Kirsh’s fortune comes from Jetro Holdings, Inc, which operates Jetro Cash and Carry, one of the leading wholesale cash and carry stores in USA and Restaurant Depots in New York City. The Kirsh Holdings Group owns 50% of Swazi Plaza Properties, which is makes up his biggest investment in Swaziland. Kirsh has an estimated $4 billion net worth.

    8. Isabel dos Santos

    Source of wealth: Investments
    Isabel dos Santos is the richest woman in Africa. She is the eldest daughter of long time Angola President Jose Eduardo dos Santos. Isabel started her venture into the business world as a project manager for Urbana 2000 a subsidiary of Jembas that was contracted for cleaning and disinfecting of Luanda. She later set up a truck business company, this coupled with establishment of the walkie-talkie system paved way for her to move into the telecommunications industry. In 1997, Isabel started Miami Beach Club, her first business and one of the first night clubs beach restaurants in Luanda Island. The Electrical Engineering graduate of King's College owns a number of assets in Angola, including 25% of Unitel, the largest mobile phone company in Angola. Among her diverse investment portfolio is 19% of Banco BPI, Angola’s largest bank and 7% of Galp Energia, an oil and gas company. The 42-year-old Angolan has an estimated net worth of $3.2 billion.

    9. Issad Rebrab

    Source of wealth: Food
    Issad Rebrab is the richest man in Algeria. His industrial career apparently started in 1971, when one his clients suggested he take shares in metallurgical construction company. Issad, a teacher by profession said he took a calculated risk, and in the worst case he knew he could always return to teaching. He joined the industry by acquiring 20% shares of Sotecom, a metallurgical construction business. Issad stands out as one of the few African billionaires who come from modest families, his parents were revolutionaries who struggled for the independence of Algeria. His major installations where destroyed in 1995 by terrorist attack, costing him an estimated $1.1 billion. He came back stronger in 1998 with the foundation of Cevital, one of the largest Algerian private enterprise, with subsidies in agribusiness, distribution, glass industry and real estate. Issad has an estimated net worth of $3.3 billion.

    10. Naguib Sawiris

    Source of wealth: Telecom
    Naguib Sawiris is the eldest of three Onsi Sawiris’ sons. Naguib joined the family business Orascom in 1979. He played an integral role in the growth and diverse portfolio of the company turning it into one of the largest private sector firms. Sawiris, a Masters graduate of ETH Zurich particularly helped establish the railway, information technology and telecommunications, the success of these sectors led to the split of Orascom into Orascom Telecom Holding, Orascom Construction Industries, Orascom Hotels & Development and Orascom Technology Systems. He owns the liberal Egypt TV station ONTV. Perhaps he is most recently known for his desire to buy an Island between to give 100 000 to 200 000 refugees a home, this was after he saw a picture of a three year old Syrian boy who drowned trying to find refuge. The Egyptian has an estimated net worth of $3 billion.
    Global overview
    Even with a slight decline of $1.8 billion from last year’s Forbes Billionaire list, Microsoft's co-founder Bill Gates retains his position as the world’s wealthiest man with a net worth of $77.4 billion. A position he holds for the 17th time in the last 22 years.
    Gates is closely followed by Spaniard Amancio Ortega, who is the brains behind Inditex fashion group, which owns Zara clothing and accessories retail shops
    With $48.9 billion, Facebook's co-founder Mark Zuckerberg has moved up ten spots making him among the ten wealthiest people in the world. Zuckerberg holds the sixth position with his net worth increasing by $15.5 billion from $33.4 billion in 2015.

     Here is a complete list of the African billionaires

    Rank	Name	Net Worth $	Source of Wealth	Citizenship	Age
    1	Aliko Dangote	14.4 bn	Cement, Flour, Sugar, Salt	Nigeria	58
    2	Mike Adenuga	10 bn	Telecom, Oil, Real Estate	Nigeria	62
    3	Nicky Oppenheimer	6.6 bn	Diamonds	South Africa	70
    4	Christoffel Wiese	6.2 bn	Retailing	South Africa	74
    5	Johann Rupert	5.3 bn	Luxury Goods	South Africa	65
    6	Nassef Sawiris	4.1 bn	Construction, Chemicals	Egypt	55
    7	Nathan Kirsch	3.7 bn	Retail	Swaziland	84
    8	Isabel dos Santos	3.1 bn	Investments	Angola	42
    9	Issad Rebrab	3.1 bn	Food	Algeria	71
    10	Naguib Sawiris	3 bn	Telecom	Egypt	61
    11	Mohamed Mansour	2.5 bn	Diversified	Egypt	68
    12	Othman Benjelloun	1.9 bn	Banking, Insurance	Morocco	83
    13	Mohamed Al Fayed	1.9 bn	Retailing	Egypt	87
    14	Femi Otedola	1.85 bn	Gas Stations	Nigeria	53
    15	Youssef Mansour	1.73 bn	Diversified	Egypt	70
    16	Folorunsho Alakija	1.55 bn	Oil	Nigeria	65
    17	Allan Gray	1.49 bn	Money Management	South Africa	78
    18	Koos Bekker	1.47 bn	Media, Investment	South Africa	63
    19	Yassen Mansour	1.39 bn	Diversified	Egypt	54
    20	Aziz Akhannouch	1.25 bn	Petroleum, Diversified	Morocco	55
    21	Patrice Motsepe	1.15 bn	Mining	South Africa	54
    22	Abdulsamad Rabiu	1.1 bn	Diversified	Nigeria	55
    23	Onsi Sawiris	1.09 bn	Construction, Telecom	Egypt	86
    24	Mohammed Dewji	1.09 bn	Diversified	Tanzania	40

  • Billionaires Wealth Money Income Inequality Aliko Dangote

Thomas Sankara: The Upright Pan-Africanist

• 

  The Revolution and Women's Liberation Go Together

  POLITICS

• Thomas Sankara's policies were oriented toward fighting corruption, reforestation, averting famine, and making education and health real priorities.

• Thomas Sankara became the president of Burkina Faso, the then Upper Volta in 1983 after leading a coup that saw him take the presidential seat. He seized power at the age of 33, his main goal being to eliminate corruption and the dominance of the French colonial power.

  His policies were oriented toward fighting corruption, reforestation, averting famine, and making education and health real priorities. The coup that saw him claim the presidency was organized alongside his then comrade, Blaise Compaore, whom he had befriended during their military training. He is commonly known as “Africa’s Che Guevara” which really is fitting for him with regards to his personality and political ideas. Thomas Sankara was greatly inspired by the Cuban revolution.

  Surprisingly, the counter-coup in October 1987 that led to his death was led by his “friend” Blaise Compaore who had now turned against Sankara’s ideas. Of course he quickly denied any involvement in the assassination and by the evening of Sankara’s death he became the president.

  Thomas Sankara served a term that ended abruptly in 1987 but for the short time span he was in power, he left quite a mark. Below are 4 reasons he was and is still considered a hero;

  1. Pan-Africanism

  Thomas Sankara believed that anyone who wasn’t an African didn’t have much knowledge on the continent and therefore couldn’t dictate how an African country was run. He was referring to the French who had colonized Upper Volta. In one of his speeches he said, “Our country produces enough to feed us all. Alas, for lack of organization, we are forced to beg for food aid. It’s this aid that instills in our spirits the attitude of beggars.” He believed that Burkina Faso and Africa in general has the ability to be self-reliant and not rely on foreign aid. He therefore fought hard to rid his country of the influence of the French. Sankara advocated for the local production and consumption of locally-made goods and instilled in his people the belief that they could solve their food and water scarcity problems through mobilized self-sufficiency. Many of Sankara’s foreign policies were largely focused on anti-imperialism. He blamed the imperialism and the foreign companies which made profits with Africa, denying its development so that they can keep selling products to a continent which could be self-sufficient.

  2. Educational and Health Reforms

  Sankara believed that education and health should be highly valued and so he ensured that his people had the best of these. He launched a nationwide literacy campaign, and families were ordered to have their children vaccinated. This was after some families had denied their children vaccination due to cultural and religious beliefs. In 1984, Sankara’s government organized the vaccination of almost 3 million children in a little over two weeks. The Burkinabe government was also the first African government to claim that AIDS was a major threat for Africa. He also championed environmental conservation with tree-planting campaigns and greening projects. According to Ernest Harsch, author of a recent biography of Sankara, Burkinabe built for the first time schools, health centers, water reservoirs, rail, with little or no external assistance.

  3. Gender Equality

  Thomas Sankara was one of the few leaders who believed in equal rights for all. One of his famous quotes was that “The revolution and women's liberation go together. We do not talk of women's emancipation as an act of charity or out of a surge of human compassion. It is a basic necessity for the revolution to triumph. Women hold up the other half of the sky.” He therefore made policies that ensured that women were also included in the governing of the country and not be given the back seat. His government included a large number of women and he also ensured they were afforded opportunities to go into careers that were mostly considered for men. Improving women's status was one of Sankara's explicit goals that were unprecedented in West Africa. His government banned female circumcision, condemned polygamy, and promoted the use of contraceptives.

  4. Honest Leadership

  One hindering factor in present day Africa is corrupt leaders. Thomas Sankara believed that leaders and those in high posts were just the same as nationals living in the rural areas. He believed that even he as the president did not deserve any perks by virtue of his position. Sankara cut minister’s salaries and perks starting with his own and lived in the same brick house that he had lived in previously. He believed that no one was above farm work, or graveling roads–not even the president, government ministers or army officers. Even individuals who held the highest posts were required to work in local community development projects.

  Many have said that Sankara’s death is an example of failed chances in Africa. However he remains an inspiration to many; he serves to remind us that we do have the power to unite Africa and move it forward. A week prior to his death, Sankara addressed people and said that "while revolutionaries as individuals can be murdered, you cannot kill ideas." Although, this great leader is no longer alive to come up with more ideas that could see the African continent flourish, his ideas and principles live on.

  Image Credit: http://venturesafrica.com/

Meet Fadumo Dayib, Somalia’s First Female Presidential Candidate

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  Fadumo Dayib, Somalia’s First Female Presidential Candidate

  POLITICS

• Fadumo Dayib is no ordinary woman, but then again, no African woman is ordinary.
• No story inspires as much hope as Fadumo Dayib’s. From refugee, the remarkable woman is now a presidential candidate, the first female to achieve such a feat. Her life was not easy but this did not deter her. It is with such great tenacious resolve that she goes into the presidential race. This is no ordinary woman, but then again, no African woman is ordinary.

  Who is Fadumo Dayib?

  Fadumo Dayib was born to Somali parents in Kenya. Her parents were uneducated; her father was a truck driver while her mother is described as a “nomad” by the Harvard Gazette and the two had moved to Kenya to start a new life together. The family was however deported in 1989.
  Recalling the deportation, she said, “One of the earliest memories of being a second-class citizen, an unwanted person, a displaced person, was when they handed me a small card that said, ‘Go home,’ And that was the boarding pass that I used to get on Somali Airlines to leave Kenya.” The civil war in Somalia forced her family to leave, ending up in Finland. Again, she was simply not at home in this foreign land as she felt “the refugee community was largely marginalized, tolerated but never truly wanted”.
  Fadumo only learnt to read and write from the age of 14 but now she holds three master’s degrees (one from Harvard) and is currently working on her Ph.D. in women’s governmental participation and empowerment in post-conflict regions. In 2005, Dayib made her return to Somalia and started working for the United Nations in Puntland, Somalia. Only then did she know what it meant to be home. Dayib was moved to Nairobi, Kenya and later went to Fiji and then Liberia. The Harvard Gazette says “she helped set up HIV prevention offices and trained health care providers for the United Nations over the next several years”. It is here that her desire to lead her country was born.

  The birth of Fadumo Dayib, the Presidential Candidate

  Liberia was recovering from its internal turmoil and this inspired Dayib to hope for the same for her own country. She says she thought to herself, “Why can’t Somalia be like this? I want to be in an environment like this where you don’t hear gunfire, girls are going to school, women are working, people feel happy.”
  With a really sensational sense of service, Fadumo Dayib wants to be at the fore-front of change in her motherland. The very troubled motherland which she admits to have 1.2 million people internally displaced and a further 1.5 million in the diaspora. She admits to 68% of the Somali population being unemployed yet she wants to meet these problems head-on. When asked by NPR’s Rachel Martin, host of the Weekend Edition Sunday why she wanted to be President, she responded, “Because I see what I’m doing as a moral obligation and a civic duty towards my country. I’ve watched for almost 26 years, hoping for a competent leadership to come that can bring us all back.”
  She is motivated by the need to prevent further bloodshed. “We have watched on the sidelines for more than 25 years and it is imperative that we step forward and take up this responsibility. The current and previous leaderships have failed us; we must take matters in to our own hands and that is why I’m running for presidency because I have capabilities, skills and motivation,” she says.

  Tough Road Ahead

  Dayib has her work cut out for her. She is dealing with a highly patriarchal system which might not take her seriously simply because she is a woman. In fact, she has received a series of death threats which she says prove whoever sent them acknowledged that she is a capable leader who will threaten their existence. Dayib herself, is known to have said politics in Somalia is restricted to men with gray hair. Due to various threats against her life, Fadumo Dayib has had to use social media to raise awareness. She has been transparent about her campaign and finances, the end goal being to extend this transparency to government and do away with corruption. She is, however, getting the rotten end of the rope as Global Risk Insights has bemoaned the lack of universal suffrage, the exclusion of women from politics and the clan-based system of Somali politics. She has spoken out against the hold of the clans on politics, calling for emancipation from the clans but will it be enough? There is much work to be done but Dayib has already started conversations about leadership in Africa. The younger generations are finally standing up. Women are finally taking their place in the pilot seat. Africa will never be the same.
  
  

  Image credit: Harvard Gazette