Dangote Remains African’s richest man, Adenuga Second

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Globacom Chairman Mike Adenuga Jnr, with hobbies in oil exploration and real property has moved up, rating subsequent to Aliko Dangote as Africa’s second richest Man.

Forbes magazine stated Adenuga’s net well worth rose pretty from $5.3 billion to $nine.2 billion.

He is now simply $800million far from Dangote Group President Aliko Dangote, whose wealth dipped to $10billion, from $12 billion last year.

However, Dangote retains the Africa’s richest man name for the 8th consecutive time notwithstanding.

BUA Group Chief Executive Officer Abdulsamad Rabiu featured at the list for the first time for the reason that 2015.

The merger among Rabiu’s Kalambaina Cement firm with the Cement Company of Northern Nigeria, which he controlled, in December, final year, turned into formally consummated in Sokoto earlier this week. He now owns ninety seven consistent with cent of the entity.

Kalambaina, which operates a brand new cement production facility, began selling cement mid-ultimate year just as Rabiu’s OBU Cement has extended its operations, adding a brand new manufacturing line.

Mrs Folorunsho Alakija, whose internet worth dropped to $1.1 billion from $1.Three billion, was ranked 19th. She is vice chair, Famfa Oil, an indigenous oil exploration organization with a stake in Agbami Oilfield, a prolific offshore asset. Famfa Oil’s companions encompass Chevron and Petrobras.

Mrs. Alakija’s first agency turned into a style label, whose clients included former military President Ibrahim Babangida and his spouse, the overdue Maryam.

The Federal Government awarded Mrs. Alakija’s agency an oil prospecting license in 1993, which turned into later converted to an oil mining rent.

Mrs. Alakija’s rating tied with South African banker, Michiel Le Roux.

Forbes blamed plunging stock values and weaker currencies for the shrinking within the billionaires membership in Africa.

It said: “Buffeted by way of plunging stock fees and weaker currencies, the range of African billionaires has shrunk to simply 20, down from 23 a year in the past.

“Four human beings fell off Forbes’ annual listing of the continent’s richest because remaining yr even as one lower back to the ranks after a four-year absence. All but 4 contributors of the listing have smaller fortunes than a year in the past.”

In a in step with usa ranking, Egypt and South Africa are tied with five billionaires every, observed via Nigeria with 4 and Morocco-two.

Forbes located one billionaire every in Algeria, Angola, Tanzania and Zimbabwe.

NAN

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