Connect with us

News Feed

New Rich List Names Jim Ovia, Others, Amongst Africa’s billionaires



More Nigerians have joined the continent’s billionaire league, according to a new study by Ventures Africa. The new rich list names Abdulsamad Rabiu, Jim Ovia, Jide Omokore, and Bode Akindele amongst Africa’s billionaires.


Africa, world’s fastest growing emerging market, is home to 55 billionaires, up from a previous estimate of 25, with an average net worth of $2.6bn, the new research says.

The price of oil, which topped $100 a barrel this year, up from $20 a barrel in early 2000, is adjudged to be at the root of this new crop of African billionaires.

These super rich are worth a combined total of $143.88bn (£89.27bn), in contrast to the UK, which is home to 84 billionaires who are worth nearly £250bn, according to 2013 Sunday Times Rich List.

With 55 billionaires, Africa is comparable to Latin America, which has 51 at the last count, according to Forbes . However, Africa has some way to go if it is to top the super-rich tally in Asia, which is home to 399 billionaires as of 2013.

The new study, undertaken by Ventures Africa, is the most extensive list ever compiled, claims founder Chi-Chi Okonjo. It reveals the “true wealth” of Africa’s richest people, he said.

Jim Ovia, founder and first managing director of Zenith Bank plc, one of Nigeria’s leading financial institutions, also made the list with net worth of $1.5 billion. Ovia is also the chairman of Nigeria’s fledging telecommunications company, Visafone.

According to Ventures Africa, there are a large number of African billionaires on its list whose fortunes have never been accurately calculated before. These include Strive Masiyiwa of Zimbabwe, who is worth $1.46 billion, and Abdulsamad Rabiu of Nigeria, whose net worth is $1.4 billion.

Rabiu is one of the most notable players in the real sector of the Nigerian economy, calling the shots in the cement industry with a large percentage of the nation’s cement market share. He also has interest in sugar and flour business in Nigeria.

Others are Aziz Akhannouch (Morocco, $1.39 billion), Jide Omokore (Nigeria, $1.32 billion), and Bode Akindele (Nigeria, $1.19 billion).

“This list is a tribute to the entrepreneurial heartbeat within Africa,” said Okonjo.

The richest man in Africa remains cement, sugar and flour tycoon, Aliko Dangote. The Nigerian is worth $20.2bn. This figure is slightly up on Forbes’ estimation of $16.1bn for his wealth as of March this year.

In second place, South African financier Allan Gray holds assets worth at least $8.5bn.

Third on the list, Nigerian Mike Adenuga, with operations in the oil and telecoms industries, has an estimated fortune of $8bn. His major investment is in Globacom, and Conoil which plays in both the downstream and upstream petroleum industry.

Continue Reading


  1. kunle

    October 9, 2013 at 2:07 pm

    Jesus!!! This fathers ‎​Α̲̅я̩̥̊ε̲̣̣̣̥ gods… @least drop somtin 4me Ooº°˚˚°ºoo
    We ‎​Α̲̅я̩̥̊ε̲̣̣̣̥ blessed in naija. Their children ‎​Α̲̅я̩̥̊ε̲̣̣̣̥ lucky people. ℓ̊ pray M̶̲̥̅γ̲̣̣̥ father&me wiil get †̥ dis life

  2. chijioke maduka

    October 10, 2013 at 9:39 pm

    nothing good comes easy

Leave a Reply

Your email address will not be published. Required fields are marked *

News Feed

I Was Three Years Old When I Met My Wife – Nigerian Man Narrates



A Nigerian identified as Nanpon narrates how he met his wife at age three.

Taking to his Tittwer hndle, he wrote;

“You asked for the full story so here it is: @Heeldarh
’s parents and mine had been friends since before either of us were born and they are till now. So when her mum was pregnant for her, she came to my house one day ( I was three years old at that time). I was told that I reached”

Continue Reading

News Feed

Nigeria Army Officials Allegedly Beat Lady For Refusing To Greet Them (Video)



A Nigeria lady in a video said he was beaten by some officials of the Nigerian Army because she refused to greet them.

According to the lady in the video, ”they were wearing Army uniform and whipping me kobokobo because I did not greet them”.

The aggrieved lady in rage said should she kneel down to greet them because they were soldiers?.

It was reported that the incident happened at Eti Osa Local Government Area in Lagos State.

Watch the video below;


Continue Reading

News Feed

‘Ned Nwoko Dey Chop Better Things’ – Fan Gushes Over Regina Daniels New Photos



Fans have hailed politician, Ned Nwoko, saying that he is really enjoying after his wife, Regina Daniels shared new adorable photos.

The young Nollywood actress took to her official Facebook page and shared some stunning photos of herself, which got some of her fans praising her beauty.

After sharing the photos, one of her fans who couldn’t just like the photos and keep on scrolling his phone took to the comment section to say his mind.

According to the fan identified as Anthony Boadu, the Nigerian lawyer, politician, and humanitarian, Prince Ned Nwoko, is lucky for having Regina Daniels as his wife because she is very beautiful and he is really enjoying something better.

He wrote; “Old man dey chop better things”


Another fan also took to the comment section and asked the mother of one of her billionaire husband marrying another lady to become his 7th wife, as reported.

See the photo below:

Continue Reading