“If you have something to say, say it here on cameroonwebnews”

Cameroonwebnews| Site d’information et d’opinions sur l’actualité du Cameroun

Actualités, Opinions, Blogs et Videos sur le Cameroun

“Si vous avez quelque chose à dire, dites le sur cameroonwebnews”

Africa: Only Two Africans Among the World’s Richest 200

Posted by Admin on Oct 31st, 2010 and filed under Afrique, Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Nairobi — Only two Africans feature in the top 200 of the world’s richest billionaires.

The continent’s richest billionaire, Egytian Nassef Sawiris of Orascom group, is ranked 127th on the global list while the second richest, Nicky Oppenheimer of South Africa, occupies the 154th position.

Nassef is the youngest son of business magnet, Onsi Sawairis, who took over the leadership of the business empire’s flagship construction and fertilizer division in 1998. He is worth $5.9 billion.

Oppenheimer, is the chairman of the mining giant company, De Beers Group and is worth $5 billion or $0.9 billion less than Nassef.

De Beers, the world’s largest diamond producer, has experienced tough times in the recent past, however, cost cutting measures has allowed it to remain one of the largest business empires in the continent.

The latest list released by the bi-weekly magazine, Forbes, shows an overwhelming domination by Americans, Asians and Europeans business moguls at the top.

The poor representation of Africa in the list is proof of the dearth in innovation, effective policies and regulations that attract investments and allow existing businesses to grow.

In the recent past the continent has registered impressive economic growth, despite the economic downturn that affected Europe and North America. However, it will take more than impressive economic growth for more African businessmen and women to enter the billionaires’ list.

This year, Tycoon Carlos Slim Helu dislodged business magnets Bill Gates and Warren Buffet to become the world’s richest man on earth.

It is the third time in three years that the world has a new richest man.

Helu’s rise to the top, according to the magazine, was aided by surging prices on various telecom holdings, including giant mobile outfit America Movil.

The Mexican tycoon has beaten, Americans Bill Gates and Warren Buffet to become the wealthiest person on the planet on he 2010 Forbes list of the World’s Billionaires.

The magazine says Slim’s fortune has increased to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which he owns a $23 billion stake, were up 35 percent in a year.

As a result, the massive fortune puts him ahead of Microsoft cofounder Bill Gates, who had held the title of world’s richest 14 of the past 15 years.

Gates, now worth $53 billion, is ranked second in the world. He is up $13 billion from a year ago as shares of Microsoft rose 50 percent in 12 months. Gates’ holdings in his personal investment vehicle Cascade also soared with the rest of the markets.

Buffett’s fortune jumped $10 billion to $47 billion on rising shares of Berkshire Hathaway. He ranks third.

The The Oracle of Omaha or the Sage of Omaha, as he is commonly referred to, invested $5 billion in Goldman Sachs and $3 billion in General Electric amid the 2008 market collapse. He also recently acquired railroad giant Burlington Northern Santa Fe for $26 billion.

Jeff Otieno | 31 October 2010|The East African (Nairobi)|

Enhanced by Zemanta

Related posts:

  1. South Africa: World Cup to Earn Country Sh150 Billion Elias Makori| 15 June 201| The Nation (Nairobi)| Johannesburg —...
  2. Africa: U.S. to Seize Money Stolen From Africans Munyonyo — The United States will not provide a safe...
  3. Industrialization Will Help Africa Fully Join World Economy, Says Ban cameroonwebnews.com| 21/11/09| UN News services und Armed conflict, inadequate infrastructure,...
  4. FIFA says South Africa ready for World Cup, 100 days away cameroonwebnews.com| 03/3/ 2010 | CAFonline | FIFA on Tuesday brushed...
  5. Mobile Phone: India’s Bharti Places U.S.$10 Billion Bid for Zain Africa Kui Kinyanjui | February 16, 2010 | Business Daily (Nairobi)...

Related posts brought to you by Yet Another Related Posts Plugin.

Leave a Reply