Dangote, Adenuga, Ovia on Forbes Africa’s 40 richest list

Posted By Doherty Joseph

  On November 18, 2011

Dangote Nigeria’s foremost industrialist, Alhaji Aliko Dangote, has been ranked first on Forbes’ inaugural list of "Africa’s 40 Richest List," with a fortune of $10.1bn accumulated from Dangote Cement and his other interests in flour milling, sugar refining and salt processing.

The other seven Nigerians, who made the list, are Dr. Mike Adenuga, who ranked fifth; Mr. Jim Ovia, 17th; General Theophilus Danjuma, 21st; Dr. Oba Otudeko, 24th; Mr. Hakeem Bello-Osagie, 28th; Alhaji Abdulsamad Rabiu, 29th, and Alhaji Mohammed Indimi, 30th.
 
According to www.forbes.com, Adenuga, the second richest Nigerian after Dangote and the fifth richest in Africa, has a net worth of $4.3bn from his telecoms, oil and banking businesses.
The former Chief Executive Officer, Zenith Bank Plc, Mr, Jim Ovia, was ranked as the 17th richest African and third in Nigeria with a total net worth of $775m.
On Ovia, Forbes said, "Though he is no longer at the helms of affairs at Zenith Bank, he is still the bank’s largest individual shareholder. He also owns Visafone, a leading telecoms firm in the country, and a significant interest in real estate."
 
A former Minister of Defence, Danjuma is the fourth richest Nigerian and 21st in Africa, according to Forbes.
 
"He is currently the Chairman of South Atlantic Petroleum, a Nigerian oil exploration company, and his interest in the oil sector is considered to have contributed to his net worth of $600m," Forbes stated.
It also ranked Otudeko as the 24th richest African with a total net worth of $550m.
His primary sources of wealth, according to Forbes, are manufacturing and telecoms, saying he also had interests in oil and gas, flour milling, engineering, real estate and marine transport.
It added, "With a net worth of $450m, Mr. Hakeem Bello-Osagie is the 28th richest African based on his interest in the telecoms sector. Bello-Osagie is the Chairman of Etisalat Nigeria and controls a 12.5 per cent stake in the company through his holding companies, Premium Telecommunications Holdings and MyaCynth."
 
With $400m and $330m, Mr. Adbulsamad Rabiu of BUA Group and Mr. Mohammed Indimi of Oriental Energy Resources are the 29th and 30th richest Africans, respectively, according to Forbes.
 
Forbes said 15 of the richest Africans were from South Africa, nine from Egypt, eight from Nigeria and five from Morocco.
 
Altogether, six African countries were represented on the list.

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