Dewji named youngest billionaire in Africa


TANZANIAN young entrepreneur and politician, Mr Mohamed Dewji, has again been named in the list of Africa’s wealthiest businessmen by Ventures Africa for 2014, an African business magazine and news service.

Mr Dewji, Member of Parliament (MP) for Singida Urban on CCM ticket, is the only Tanzanian in the list which is regarded as the most comprehensive compilation of the continent’s wealthiest individuals.

He occupies the 24th position among 55 wealthiest businessmen in Africa and he and Igho Sanomi of Nigeria remain the continent’s youngest billionaires. They are both 39 years old.

The young Tanzanian billionaire is the third generation of a family of successful Tanzanian entrepreneurs. Over the past decade, as CEO he has grown his family’s business from a national trading house to a multi-billion-dollar, multinational conglomerate, generating a $2-billion fortune for himself in the process.

Nigeria’s Mr Aliko Dangote, who is the founder of Africa’s largest industrial conglomerate, Dangote Group, remains the continent’s richest man.

His net worth has grown to $25.7 billion in 2014, a 21 per cent rise from his $20.2 billion valuation in 2013. According to the report, Nigeria, South Africa and Egypt are homes to most billionaires.

Nigeria leads the pack with 23, while South Africa and Egypt have both produced eight billionaires. In total, twelve African countries are represented on the list.

The most prevalent industries in which African billionaires operate are: Construction, financial services, oil and gas, manufacturing and real estate.

Ms Folorunsho Alakija of Nigeria is the richest black woman in the world, worth $7.3 billion. She is followed by Isabel dos Santos, daughter of Angolan President Jose Eduardo Dos Santos, at $3.5 billion.



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