tag:blogger.com,1999:blog-78285443761769737302024-03-15T18:10:06.139-07:00Nigeria's Aliko Dangote is now the World's Richest Black PersonMikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.comBlogger225125tag:blogger.com,1999:blog-7828544376176973730.post-6877893641909704882012-07-12T06:34:00.000-07:002011-07-12T06:54:40.654-07:00Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man: Aliko Dangote<span class="Apple-style-span" style="font-family: Arial, Tahoma, Verdana; font-size: 12px; line-height: 17px; "><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; "><a href="http://africanvibes.com/wordpressnew/2011/03/27/africas-billionaires-of-2011-nigerian-emerges-as-africas-richest-man/" rel="bookmark" style="color: rgb(0, 0, 0); text-decoration: none; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man</a></h1><div class="date" style="float: left; width: 590px; font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">March 27, 2011 by <a href="http://africanvibes.com/wordpressnew/author/admin/" title="Posts by Website Admin" style="color: rgb(34, 85, 170); text-decoration: none; ">Website Admin</a> · <a href="http://africanvibes.com/wordpressnew/2011/03/27/africas-billionaires-of-2011-nigerian-emerges-as-africas-richest-man/#comments" title="Comment on Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man" style="color: rgb(34, 85, 170); text-decoration: none; ">2 Comments</a> </p></div><div class="KonaBody"><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">Africa’s Billionaires on the Forbes list made records this year with a few surprises. 6 new Billionaires added to last year’s list of 11 bringing them to 17 Billionaires. Topping the list is Nigeria’s Aliko Dangote who displaced Ethiopian Self Made Billionaire, Mohammed Al Amoudi as Africa’s Richest man.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">Although no other countries from Africa added to the list this year, Egypt managed to double its Billionaires from 4 to 8. Nigeria and South Africa also gained 1 new billionaire addition to the list. Overall African Billionaires on this year’s list are worth a combined 71 Billion, with last year’s billionaires alone increasing their wealth by a combined 18 Billion. The biggest increase was experience by our new Richest man, Dangote who made 10.7 Billion, putting him at the top of the list making him number 51 on the World’s Richest list.</p><table border="1" width="100%" border><tbody><tr><td><span style="font-size: small; "></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Name</span></strong></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Africa Rank</span></strong></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Forbes Rank</span></strong></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Net Worth</span></strong></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Age</span></strong></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Source</span></strong></span></td><td><span style="color: rgb(0, 128, 0); "><strong><span style="color: rgb(0, 128, 0); ">Country of Citizenship/HomeTown</span></strong></span></td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/aliko-dangote_50x50.jpg" alt="Aliko Dangote" /></td><td><a href="http://www.forbes.com/profile/aliko-dangote" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Aliko Dangote</a></td><td>1</td><td>51</td><td>$13.8 B</td><td>53</td><td>sugar, flour, cement</td><td>Nigeria</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/mohammed-al-amoudi_50x50.jpg" alt="Mohammed Al Amoudi" /></td><td><a href="http://www.forbes.com/profile/mohammed-al-amoudi" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohammed Al Amoudi</a></td><td>2</td><td>63</td><td>$12.3 B</td><td>66</td><td>oil</td><td>Saudi Arabia/Ethiopia</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/nicky-oppenheimer_50x50.jpg" alt="Nicky Oppenheimer & family" /></td><td><a href="http://www.forbes.com/profile/nicky-oppenheimer" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Nicky Oppenheimer & family</a></td><td>3</td><td>136</td><td>$7 B</td><td>65</td><td>De Beers</td><td>South Africa</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/nassef-sawiris_50x50.jpg" alt="Nassef Sawiris" /></td><td><a href="http://www.forbes.com/profile/nassef-sawiris" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Nassef Sawiris</a></td><td>4</td><td>182</td><td>$5.6 B</td><td>50</td><td>construction</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/patrick-soon-shiong_50x50.jpg" alt="Patrick Soon-Shiong" /></td><td><a href="http://www.forbes.com/profile/patrick-soon-shiong" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrick Soon-Shiong</a></td><td>5</td><td>196</td><td>$5.2 B</td><td>59</td><td>generic drugs</td><td>United States/South Africa</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/johann-rupert_50x50.jpg" alt="Johann Rupert & family" /></td><td><a href="http://www.forbes.com/profile/johann-rupert" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Johann Rupert & family</a></td><td>6</td><td>219</td><td>$4.8 B</td><td>60</td><td>luxury goods</td><td>South Africa</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/naguib-sawiris_50x50.jpg" alt="Naguib Sawiris" /></td><td><a href="http://www.forbes.com/profile/naguib-sawiris" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Naguib Sawiris</a></td><td>7</td><td>310</td><td>$3.5 B</td><td>56</td><td>telecom</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/patrice-motsepe_50x50.jpg" alt="Patrice Motsepe" /></td><td><a href="http://www.forbes.com/profile/patrice-motsepe" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrice Motsepe</a></td><td>8</td><td>336</td><td>$3.3 B</td><td>49</td><td>Mining</td><td>South Africa</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/onsi-sawiris_50x50.jpg" alt="Onsi Sawiris" /></td><td><a href="http://www.forbes.com/profile/onsi-sawiris" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Onsi Sawiris</a></td><td>9</td><td>393</td><td>$2.9 B</td><td>81</td><td>construction</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/mohamed-mansour_50x50.jpg" alt="Mohamed Mansour" /></td><td><a href="http://www.forbes.com/profile/mohamed-mansour" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohamed Mansour</a></td><td>10</td><td>595</td><td>$2 B</td><td>63</td><td>Diversified</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/mike-adenuga_50x50.jpg" alt="Mike Adenuga" /></td><td><a href="http://www.forbes.com/profile/mike-adenuga" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Mike Adenuga</a></td><td>10</td><td>595</td><td>$2 B</td><td>57</td><td>telcom, banking, oil</td><td>Nigeria</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/no-pic_50x50.jpg" alt="Yasseen Mansour" /></td><td><a href="http://www.forbes.com/profile/yasseen-mansour" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Yasseen Mansour</a></td><td>11</td><td>692</td><td>$1.8 B</td><td>49</td><td>Diversified</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/no-pic_50x50.jpg" alt="Yasseen Mansour" /></td><td><a href="http://www.forbes.com/profile/youssef-mansour" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Youssef Mansour</a></td><td>11</td><td>692</td><td>$1.8 B</td><td>65</td><td>Diversified</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/mohammed-ibrahim_50x50.jpg" alt="Mohammed Ibrahim" /></td><td><a href="http://www.forbes.com/profile/mohammed-ibrahim" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Mo Ibrahim</a></td><td>11</td><td>692</td><td>$1.8 B</td><td>64</td><td>communications</td><td>United Kingdom/Sudan</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/no-pic_50x50.jpg" alt="Christoffel Wiese" /></td><td><a href="http://www.forbes.com/profile/christoffel-wiese" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Christoffel Wiese</a></td><td>12</td><td>782</td><td>$1.6 B</td><td>69</td><td>consumer retail</td><td>South Africa</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/samih-sawiris_50x50.jpg" alt="Samih Sawiris" /></td><td><a href="http://www.forbes.com/profile/samih-sawiris" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Samih Sawiris</a></td><td>13</td><td>879</td><td>$1.4 B</td><td>54</td><td>hotels</td><td>Egypt</td></tr><tr><td><img src="http://images.forbes.com/media/lists/people/mohamed-al-fayed_50x50.jpg" alt="Mohamed Al Fayed & family" /></td><td><a href="http://www.forbes.com/profile/mohamed-al-fayed" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohamed Al Fayed & family</a></td><td>14</td><td>993</td><td>$1.2 B</td><td>78</td><td>Retail</td><td>Egypt</td></tr></tbody></table><iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fafricanvibes.com%2Fwordpressnew%2F2011%2F03%2F27%2Fafricas-billionaires-of-2011-nigerian-emerges-as-africas-richest-man%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" scrolling="no" frameborder="0" allowtransparency="true" style="border-top-style: none; 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text-decoration: none; ">2011 African Billionaires</a>, <a href="http://africanvibes.com/wordpressnew/tag/africas-richest/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Africa's Richest</a>, <a href="http://africanvibes.com/wordpressnew/tag/africas-richest-men/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Africa's Richest Men</a>, <a href="http://africanvibes.com/wordpressnew/tag/african-billionaires/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">African Billionaires</a>, <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Aliko Dangote</a>,<a href="http://africanvibes.com/wordpressnew/tag/christoffel-wiese/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Christoffel Wiese</a>, <a href="http://africanvibes.com/wordpressnew/tag/egypt-richest/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Egypt Richest</a>, <a href="http://africanvibes.com/wordpressnew/tag/johann-rupert-family/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Johann Rupert & Family</a>, <a href="http://africanvibes.com/wordpressnew/tag/mike-adenuga/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mike Adenuga</a>, <a href="http://africanvibes.com/wordpressnew/tag/mo-ibrahim/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mo Ibrahim</a>, <a href="http://africanvibes.com/wordpressnew/tag/mohamed-al-fayed-family/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohamed Al Fayed & family</a>, <a href="http://africanvibes.com/wordpressnew/tag/mohamed-mansour/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohamed Mansour</a>, <a href="http://africanvibes.com/wordpressnew/tag/mohammed-al-amoudi/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohammed Al Amoudi</a>, <a href="http://africanvibes.com/wordpressnew/tag/naguib-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Naguib Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/nassef-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nassef Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/nicky-oppenheimer-family/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nicky Oppenheimer & Family</a>, <a href="http://africanvibes.com/wordpressnew/tag/nigerias-richest/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nigeria's Richest</a>, <a href="http://africanvibes.com/wordpressnew/tag/onsi-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Onsi Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/patrice-motsepe/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrice Motsepe</a>, <a href="http://africanvibes.com/wordpressnew/tag/patrick-soon-shiong/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrick Soon-Shiong</a>, <a href="http://africanvibes.com/wordpressnew/tag/richest-african/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Richest African</a>, <a href="http://africanvibes.com/wordpressnew/tag/richest-billionaire/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Richest Billionaire</a>, <a href="http://africanvibes.com/wordpressnew/tag/richest-man-in-africa/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Richest Man in Africa</a>, <a href="http://africanvibes.com/wordpressnew/tag/samih-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Samih Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/south-africas-richest/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">South Africa's Richest</a>, <a href="http://africanvibes.com/wordpressnew/tag/sudans-richest/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Sudan's Richest</a>, <a href="http://africanvibes.com/wordpressnew/tag/yasseen-mansour/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Yasseen Mansour</a>, <a href="http://africanvibes.com/wordpressnew/tag/youssef-mansour/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Youssef Mansour</a></div><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; "><a href="http://africanvibes.com/wordpressnew/2010/03/12/africas-11-billionaires-of-2010/" rel="bookmark" style="color: rgb(0, 0, 0); text-decoration: none; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Africa’s Billionaires of 2010</a></h1><div class="date" style="float: left; width: 590px; font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">March 12, 2010 by <a href="http://africanvibes.com/wordpressnew/author/avreporter/" title="Posts by AVReporter" style="color: rgb(34, 85, 170); text-decoration: none; ">AVReporter</a> · <a href="http://africanvibes.com/wordpressnew/2010/03/12/africas-11-billionaires-of-2010/#comments" title="Comment on Africa’s Billionaires of 2010" style="color: rgb(34, 85, 170); text-decoration: none; ">214 Comments</a> </p></div><div class="KonaBody"><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">It must be nice to be Ethiopian Self Made Billionaire, Mohammed Al Amoudi, Africa’s Richest man. His wealth grew by a billion despite the economic downturn. It is that time of year again and Forbes has put together a list of the World’s richest. On it are 11 Africans 4 from one family in Egypt, 4 from South Africa, 1 from Sudan, 1 from Nigeria and 1 from Ethiopia.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">There was 1 new addition to the list this year, Samih Sawiris, son of Egyptian billionaire, Onsi Sawiris whose other 2 sons are on the list as well. Nigeria did loose a billionaire this year, Femi Otedola who had a bitter disagreement with fellow billionaire Aliko Dangote last year. Despite some major challenges, Dangote still made it on the list as the 9th richest man in Africa.</p><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Mohammed-Al-Amoudi_AQ88.html" style="color: rgb(34, 85, 170); text-decoration: none; "><img title="Mohammed Al Amoudi" src="http://images.forbes.com/media/lists/10/2010/mohammed-al-amoudi.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Photo By Hans Berggren</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 1)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Mohammed Al Amoudi</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 10 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Ethiopia</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 65</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Self Made</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Oil</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> N/A<br /><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Mohammed-Al-Amoudi_AQ88.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #64</a></strong></li></ul><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Nassef-Sawiris_FWHQ.html" style="color: rgb(34, 85, 170); text-decoration: none; "><img title="Nassef Sawiris" src="http://images.forbes.com/media/lists/10/2010/nassef-sawiris.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">AP Photo</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 2)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Nassef Sawiris</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth:</strong> 5.9 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Egypt</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age:</strong> 48</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Inherited and Growing</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source:</strong> Construction</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education: </strong>Bachelor of Science</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Nassef-Sawiris_FWHQ.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #127</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Nicky-Oppenheimer-family_2MY9.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img title="Nicky Oppenheimer & family" src="http://images.forbes.com/media/lists/10/2010/nicky-oppenheimer.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">AP Photo</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 3)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Nicky Oppenheimer & Family</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth:</strong> 5 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> South Africa</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age:</strong> 65</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Inherited</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source:</strong> Metals and Mining</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Arts / Science and Master of Arts</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Nicky-Oppenheimer-family_2MY9.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #154</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Patrick-Soon-Shiong_VI4N.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img title="Patrick Soon-Shiong" src="http://images.forbes.com/media/lists/10/2010/patrick-soon-shiong.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Photo from Forbes.com</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 4)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Patrick Shoo-Shiong</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth:</strong> 5 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin: </strong>South Africa</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age: </strong>58</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Self Made</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source:</strong> Generic Drugs</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Arts / Science; Medical Doctor</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Nicky-Oppenheimer-family_2MY9.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #154</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Onsi-Sawiris_PPZY.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img title="Onsi Sawiris" src="http://images.forbes.com/media/lists/10/2010/onsi-sawiris.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">GIUSEPPE CACACE/AFP/Getty Images</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 5)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Onsi Sawiris</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth:</strong> 3.1 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Egypt</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age:</strong> 80</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune</strong>: Self Made</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source:</strong> Construction</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> N/A</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Onsi-Sawiris_PPZY.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>Forbes World Ranking #307</strong></a></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Naguib-Sawiris_4MRK.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img class=" " title="Naguib Sawiris" src="http://images.forbes.com/media/lists/10/2010/naguib-sawiris.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">AP Photo</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 6)</strong></p><dl></dl><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Naguib Sawiris</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 2.5 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Egypt</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 55</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Inherited</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Telecom</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Arts / Science; Master of Science</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Naguib-Sawiris_4MRK.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #374</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Johann-Rupert-family_L9DS.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img class=" " title="Johann Rupert & family" src="http://images.forbes.com/media/lists/10/2010/johann-rupert.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Photo by 2010 FIFA World Cup Organising Committee South Africa/Getty Images</p></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 7)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Johann Rupert & Family</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 2.3 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> South Africa</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 59</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Inherited</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Luxury Goods</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Arts / Science</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Johann-Rupert-family_L9DS.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #421</a></strong></p><hr size="1"><div class="mceTemp"><dl class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><dt class="wp-caption-dt"><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Patrice-Motsepe_RS9H.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img class=" " title="Patrice Motsepe" src="http://images.forbes.com/media/lists/10/2010/patrice-motsepe.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a>[/caption]<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. <img src="http://africanvibes.com/wordpressnew/wp-includes/images/smilies/icon_cool.gif" alt="8)" class="wp-smiley" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; float: none; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Patrice Motsepe</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 2.3 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> South Africa</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 48</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Self Made</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Mining</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Arts / Science; Doctor of Jurisprudence</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Patrice-Motsepe_RS9H.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #421</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Aliko-Dangote_64RI.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img class=" " title="Aliko Dangote" src="http://images.forbes.com/media/lists/10/2010/aliko-dangote.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">PIUS UTOMI EKPEI/AFP/Getty Images</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 9)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Aliko Dangote</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 2.1 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Nigeria</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 52</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Inherited</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Sugar, Flour, Cement</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> N/A</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Aliko-Dangote_64RI.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #463</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Mohammed-Ibrahim_IK9A.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img class=" " title="Mohammed Ibrahim" src="http://images.forbes.com/media/lists/10/2010/mohammed-ibrahim.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Sipa Press/Newscom</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 10)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Mohammed Ibrahim</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 2.1 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Sudan</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 64</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Self Made</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Communications</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Mohammed-Ibrahim_IK9A.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #463</a></strong></p><hr size="1"><div class="wp-caption alignnone" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 410px; "><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Samih-Sawiris_L391.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img class=" " title="Samih Sawiris" src="http://images.forbes.com/media/lists/10/2010/samih-sawiris.jpg" alt="" width="400" height="280" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Arnd Wiegmann / Reuters</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong>Africa’s Billionaires (No. 11)</strong></p><ul style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Name:</strong> Samih Sawiris</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Net Worth</strong>: 1.5 Billion</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Origin:</strong> Egypt</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Age</strong>: 53</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Fortune:</strong> Inherited</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Source: </strong>Hotels</li><li style="list-style-type: square; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong>Education:</strong> Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering</li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2010/10/billionaires-2010_Samih-Sawiris_L391.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes World Ranking #655</a></strong></p><dl></dl><iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fafricanvibes.com%2Fwordpressnew%2F2010%2F03%2F12%2Fafricas-11-billionaires-of-2010%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" scrolling="no" frameborder="0" allowtransparency="true" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; overflow-x: hidden; overflow-y: hidden; width: 450px; height: 80px; "></iframe></dt></dl></div><div style="clear: both; "></div><div class="postmeta2" style="width: 590px; font-size: 12px; padding-top: 5px; padding-right: 0px; padding-bottom: 40px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; border-top-style: double; border-top-color: rgb(234, 234, 234); border-top-width: initial; ">Filed Under: <a href="http://africanvibes.com/wordpressnew/category/featured/" title="View all posts in Featured" rel="category tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Featured</a>, <a href="http://africanvibes.com/wordpressnew/category/lifestyle/money-matters-lifestyle/" title="View all posts in Money Matters" rel="category tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Money Matters</a><br />Tagged: <a href="http://africanvibes.com/wordpressnew/tag/african-billionaires/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">African Billionaires</a>, <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Aliko Dangote</a>, <a href="http://africanvibes.com/wordpressnew/tag/forbes-list/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Forbes list</a>, <a href="http://africanvibes.com/wordpressnew/tag/johann-rupert-family/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Johann Rupert & Family</a>, <a href="http://africanvibes.com/wordpressnew/tag/mohammed-al-amoudi/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohammed Al Amoudi</a>,<a href="http://africanvibes.com/wordpressnew/tag/mohammed-mo-ibrahim/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohammed Mo Ibrahim</a>, <a href="http://africanvibes.com/wordpressnew/tag/naguib-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Naguib Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/nassef-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nassef Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/nicky-oppenheimer-family/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nicky Oppenheimer & Family</a>, <a href="http://africanvibes.com/wordpressnew/tag/onsi-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Onsi Sawiris</a>,<a href="http://africanvibes.com/wordpressnew/tag/patrice-motsepe/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrice Motsepe</a>, <a href="http://africanvibes.com/wordpressnew/tag/patrick-shoo-shiong/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrick Shoo-Shiong</a>, <a href="http://africanvibes.com/wordpressnew/tag/samih-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Samih Sawiris</a></div><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; "><a href="http://africanvibes.com/wordpressnew/2009/03/15/africas-billionaires/" rel="bookmark" style="color: rgb(0, 0, 0); text-decoration: none; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Africa’s 11 Billionaires 2009</a></h1><div class="date" style="float: left; width: 590px; font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">March 15, 2009 by <a href="http://africanvibes.com/wordpressnew/author/avreporter/" title="Posts by AVReporter" style="color: rgb(34, 85, 170); text-decoration: none; ">AVReporter</a> · <a href="http://africanvibes.com/wordpressnew/2009/03/15/africas-billionaires/#comments" title="Comment on Africa’s 11 Billionaires 2009" style="color: rgb(34, 85, 170); text-decoration: none; ">7 Comments</a> </p></div><div class="KonaBody"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; "><strong>1. Mohammed Al Amoudi</strong></h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Mohammed-Al-Amoudi_AQ88.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #43</strong></a></strong></p><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Mohammed-Al-Amoudi_AQ88.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong><strong><img src="http://mohammed-al-amoudi.com/yahoo_site_admin/assets/images/al_am.1082053_std.jpg" alt="Photo by asplundbild.com" width="250" height="167" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></strong></strong></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Photo by asplundbild.com</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$9.0 bil</span></strong></span></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span class="headerow0">Fortune:</span><strong>self made</strong></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong><br /></strong></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong></strong><span class="headerow0">Source:</span><strong>oil</strong></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>63</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>Saudi Arabia</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Jeddah</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Oil</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>NA,</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">M</span> <span class="headerow0">arital Status:</span><strong>married, 8 children</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; ">Born in Ethiopia and now a Saudi citizen. Built fortune in construction and real estate in Saudi Arabia before betting on energy. Began investing in <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink0" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">Sweden</span></span></a> in 1974; owns Svenska Petroleum and Swedish refinery Preem. Has invested more than $2 billion in Ethiopia, from hotels to stevedoring. Hit jackpot with gold mine in the Oromo region of Ethiopia; it now produces 6 tons of gold annually, set to double production by 2010. Owns several properties in London and the U.S. Donated more than $1 million to the Clinton Foundation.</div><hr size="1"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; "><strong>2. Patrick Soon-Shiong<br /></strong></h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Patrick-Soon-Shiong_VI4N.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #87</strong></a></strong></p><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Patrick-Soon-Shiong_VI4N.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong><strong><img src="http://images.forbes.com/media/lists/10/2009/ng-teng-fong.jpg" alt="Photo by SPH/The Business Times" width="250" height="167" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></strong></strong></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Photo by SPH/The Business Times</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$5.5 bil</span></strong></span></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span class="headerow0">Fortune:</span><strong>self made</strong></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span class="headerow0">Source:<strong> Generic Drugs</strong></span><strong></strong></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span class="headerow0">Age:</span><strong> 57</strong></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Co</span><span class="headerow0">untry Of Citizenship:</span><strong>United States</strong><span class="headerow0"></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Los Angeles, CA</strong><span class="headerow0"></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Pharmaceuticals<br /></strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>University of Witwatersrand, Bachelor of Arts / Science, University of Witwatersrand, Medical Doctor</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">M</span> <span class="headerow0">arital Status:</span><strong>married, 2 children</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; ">Dad was a village doctor in China; family immigrated to South Africa during WWII. Finished high school at age 16; was a doctor by 23. Got only half-salary because of apartheid race rules. Joined UCLA faculty 1980; developed technique for inserting islet cells into pancreas to treat diabetes. Founded VivoRx; quit after fight with brother, investors. Took American Pharmaceutical Partners public 2001. Invented cancer drug Abraxane; nanotech drug is more potent, has fewer side effects. Split company in two in 2007: APP Pharmaceuticals creates hospital products, Abraxis BioScience develops drugs (shares flat in past 12 months). Sold APP Pharmaceuticals to German dialysis-clinic operator Fresenius for $5.6 billion including debt in July; netted $3 billion. Plans to donate $1 billion to create “the Bell Labs of health care.” Will hire mathematicians, physicists, computer scientists, doctors to build database of biological markers to better identify ailments, treatments.</div><hr size="1"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">3. Nicky Oppenheimer & family</h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Nicky-Oppenheimer-family_2MY9.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #98</strong></a></strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Nicky-Oppenheimer-family_2MY9.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong><strong><img src="http://images.forbes.com/media/lists/10/2009/nicky-oppenheimer.jpg" alt="Per-Anders Pettersson/Reportage by Getty Image" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></strong></strong></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Per-Anders Pettersson/Reportage by Getty Image</p></div></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div id="lingo_span" class="lingo_region"><div class="spacebox"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$5.0 bil</span></strong></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>inherited</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>De Beers</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>63</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>South Africa</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Johannesburg</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_The-Worlds-Billionaires-Metals-Mining_5Rank.html" style="color: rgb(34, 85, 170); text-decoration: none; "></a></strong><strong>Metals & Mining</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>Christ Church, Oxford U, Bachelor of Arts / Science, Christ Church, Oxford U, Master of Arts</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>married, 1 child</strong></p><div class="biobox">Chairman of De Beers, world’s largest diamond producer, which had $5.9 billion in sales last year. Has been through a sea change over past five years: sold off a piece of De Beers’ South African operations to a black-empowerment group, first major ownership change in a century; welcomed its first black executive; and settled a long-standing price-fixing suit that prevented it from opening offices in the U.S. Sold off a third of family’s interest in mining giant Anglo American, founded in 1917 by grandfather Ernest. On behalf of De Beers, Oppenheimer courted Russian President Vladimir Putin in fall of 2006; two months later De Beers and Russia’s state-owned Alrosa diamond mining firm signed joint <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink1" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">prospecting</span></span></a> deal. With the demand dampening, the company bought fewer stones for resale from Alrosa last year. In December announced that production from its biggest open-pit mines in South Africa and Botswana, which had been running at full capacity, would be reduced until diamond demand recovers. His response to declining markets, “If you’re going through hell, keep going.”</div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">4. Nassef Sawiris</h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><cite></cite></p><div id="lingo_span" class="lingo_region"><div class="spacebox"><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Nassef-Sawiris_FWHQ.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #196</strong></a><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Nassef-Sawiris_FWHQ.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong><strong><img src="http://images.forbes.com/media/lists/10/2009/nassef-sawiris.jpg" alt="MEIGNEUX/SIPA" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></strong></strong></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">MEIGNEUX/SIPA</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$3.1 bil</span></strong></span></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span class="headerow0">Fortune:</span><strong>inherited and growing</strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>construction</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>47</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>Egypt</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Cairo</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Construction & Engineering</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>University of Chicago, Bachelor of Arts / Science,</strong></p></div><div class="biobox"><span class="headerow0">Marital Status:</span><strong>NA,</strong></div><div class="biobox"><strong></strong>Youngest son of Orascom conglomerate founder and fellow billionaire, Onsi Sawiris. Took over leadership of empire’s flagship construction and fertilizer division in 1998; Orascom Construction shares tumbled 80% over past year. Chief still bullish, projecting 50% increase in group revenues from projects in Gulf and North Africa; company also sitting on $1 billion cash war chest. Spun off group’s cement division 2 years ago to French giant LaFarge, landing Nassef a seat on the board and a 13% stake. University of Chicago grad launched boardroom battle last October at U.S. cement supplier Texas Industries, in which he holds 15% stake; succeeded in rallying shareholders to pass no-confidence votes against 2 board members to protest company’s poor performance, no one was ousted. Asking for board seat and chance to increase stake to 25%.</div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">5. Naguib Sawiris</h1><div class="biobox"><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Naguib-Sawiris_4MRK.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; ">FORBES RANKING: #205</a></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><strong><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Naguib-Sawiris_4MRK.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img src="http://images.forbes.com/media/lists/10/2009/naguib-sawiris.jpg" alt="JEROME FAVRE/Bloomberg News /Landov" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a></strong></strong><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">JEROME FAVRE/Bloomberg News /Landov</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$3.0 bil</span></strong></span></p></div><div id="lingo_span" class="lingo_region"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span class="headerow0">Fortune:</span><strong>inherited and growing</strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>telecom</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>54</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>Egypt</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Cairo</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Telecommunications</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>Swiss Federal Polytechnical Institute, Bachelor of Arts / Science, Swiss Federal Polytechnical Institute, Master of Science</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>married, 4 children</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="biobox">Eldest son of Orascom conglomerate founder and fellow billionaire Onsi Sawiris. Heads up Orascom Telecom, one of largest mobile providers in Middle East, Africa and South Asia. Telecom tycoon’s insatiable risk appetite backfiring; his personal fund, Weather Investments, saddled with $7.7 billion in debt from leveraged buyouts of Italian phone company Wind and leading Greek telecom companies Wind Hellas and Tellas three years ago. Sold 10% of <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink2" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">fund</span></span></a> to trio of private equity players for $1 billion last year to pay down debt. Not slowing down: in December paid a visit to Kim Jong Il to sign license agreement granting Orascom exclusive access to North Korea’s cell phone market; first mobile company to invest in the pariah state.</div></div></div></div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">6. Aliko Dangote</h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><cite></cite></p><div id="lingo_span" class="lingo_region"><div class="spacebox"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Aliko-Dangote_64RI.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #261</strong></a><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Aliko-Dangote_64RI.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong></strong></a><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Aliko-Dangote_64RI.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img src="http://images.forbes.com/media/lists/10/2009/aliko-dangote.jpg" alt="Pius Utomi/AFP/Getty Images" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a></strong></strong><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Pius Utomi/AFP/Getty Images</p></div></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong><span style="color: rgb(0, 128, 0); "><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$2.5 bil</span></span></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>inherited and growing</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>sugar, flour, cement manufacturing</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>51</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>Nigeria</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Lagos</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Manufacturing</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>NA,</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>NA,</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="biobox">Though initial offerings of his sugar and flour companies were oversubscribed in 2007, stocks in both have fallen nearly 70% since last February. Using his role as committee member on government economic advisory board to encourage federal government to rescue the nation’s capital markets. His conglomerate, the Dangote Group, has expanded its cement operations with new plants across Nigeria and as well as South Africa and Ethiopia. Sparring with new Nigerian billionaire Femi Otedola over oil and gas concessions; Otedola parried by buying up stock in Dangote’s companies. Dangote began career as trader at age 21 with loan from his uncle; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink4" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">oil </span><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">and </span><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">gas</span></span></a>. Closely linked to Nigeria’s former president Olusegun Obasanjo.</div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">7. Mohammed Ibrahim</h1><div class="biobox"><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Mohammed-Ibrahim_IK9A.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #334</strong></a><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Mohammed-Ibrahim_IK9A.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong></strong></a><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Mohammed-Ibrahim_IK9A.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img src="http://images.forbes.com/media/lists/10/2009/mohammed-ibrahim.jpg" alt="Source: Forbes.com" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a></strong></strong><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Source: Forbes.com</p></div></div><div id="lingo_span" class="lingo_region"><div class="spacebox"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong><span style="color: rgb(0, 128, 0); "><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$2.0 bil</span></span></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>self made</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>communications</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>NA</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>United Kingdom</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>London</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Telecommunications</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>NA,</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>NA,</strong></p><div class="biobox">Sudanese-born “Mo” founded Celtel, a mobile phone company that now serves 15 African countries. Sold it in 2005 for $3.4 billion; pocketed $1.4 billion. The London resident now spends his time on philanthropy and investing in Africa. Created Mo Ibrahim Foundation to award monetary prize to former African heads of state who have shown exemplary leadership in such areas as promoting political freedom; awarded first $5 million prize in October.</div></div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">8. Onsi Sawiris</h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Onsi-Sawiris_PPZY.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #430</strong></a></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Onsi-Sawiris_PPZY.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong></strong></a></p><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Onsi-Sawiris_PPZY.html" style="color: rgb(34, 85, 170); text-decoration: none; "><strong><strong><img src="http://weekly.ahram.org.eg/1999/439/saw2.jpg" alt="Image Source: Al-Ahram Weekly" width="250" height="166" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></strong></strong></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Image Source: Al-Ahram Weekly</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><cite></cite></p><div id="lingo_span" class="lingo_region"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong><span style="color: rgb(0, 128, 0); "><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$1.7 bil</span></span></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>self made</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>construction</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>79</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>Egypt</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Cairo</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Construction & Engineering</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>Bachelor of Arts / Science,</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>married, 3 children</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="biobox">Founding patriarch of Egypt’s most famous business dynasty saw shares in primary holding, Orascom Construction Industries, plunge 80% over past year; remains chair. His 3 sons run construction, telecommunications and tourism divisions. Studied agriculture in college after lawyer father urged him to pursue farming. Found it boring, instead opened a small contracting firm in Upper Egypt. Construction baron forced to rebuild empire after it was nationalized by Nasser in 1960s.</div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">9. Patrice Motsepe</h1><div id="lingo_span" class="lingo_region"><div class="spacebox"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Patrice-Motsepe_RS9H.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><span class="headerow0"></span></a><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Patrice-Motsepe_RS9H.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><span class="headerow0">FORBES RANKING: #559</span></a></strong></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><strong><img src="http://images.forbes.com/media/lists/10/2009/patrice-motsepe.jpg" alt="Gianluigi Guercia/AFP/Getty Images" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; " /></strong><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Gianluigi Guercia/AFP/Getty Images</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Patrice-Motsepe_RS9H.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><span class="headerow0"></span></a></strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong></strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$1.3 bil</span></strong></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>self made</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>mining</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>47</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>South Africa</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Johannesburg</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Metals & Mining</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>Bachelor of Arts / Science, Doctor of Jurisprudence</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>married, 3 children</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="biobox">Johannesburg mining magnate is South Africa’s first black billionaire. Born in the sprawling black township of Soweto and then trained as a lawyer, became first black partner at Bowman Gilfillan law firm in Johannesburg, before starting a contracting business doing mine scut work. Bought low-producing gold mine shafts in 1994, turned them profitable using lean, mean management style. Since then built $875 million (sales) mining conglomerate, African Rainbow Minerals (ARM), with interests in a wide swath of minerals: platinum, nickel, chrome, iron, manganese and coal. Benefited from South Africa’s Black Economic Empowerment (BEE) laws, which mandate that companies be at least 26% black-owned in order to get a government mining license. Also holds a 5.5% stake in Sanlam, a publicly traded financial services company outside Cape Town.</div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">10. Femi Otedola</h1><div class="biobox"><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Femi-Otedola_S6CU.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #601</strong></a></div><div id="lingo_span" class="lingo_region"><div class="spacebox"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><span style="color: rgb(0, 128, 0); "><strong><span class="headerow0"><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Femi-Otedola_S6CU.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img src="http://images.forbes.com/media/lists/10/2009/femi-otedola.jpg" alt="Pius Utomi/AFP/Getty Images" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">Pius Utomi/AFP/Getty Images</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; ">Net Worth:</p></span></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><strong></strong><strong><span class="mainlisttitle" style="padding-left: 3px; ">$1.2 bil</span></strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>self made</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>Energy</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>42</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>Nigeria</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Energy</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>NA,</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>married, 4 children</strong></p><div class="biobox">Politician’s son used a majority stake in African Petroleum to get himself appointed its <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink5" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">chief </span><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">executive</span></span></a> last year. Now he plans to merge it with his private firm, Zenon, to create the continent’s largest <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink6" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">oil </span><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">company</span></span></a>. Deal has stalled in the face of government concerns about a monopoly, with his assets temporarily frozen last year. Nigerian regulators lifted the ban in January. <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/#" class="kLink" id="KonaLink7" style="color: rgb(0, 0, 255) !important; text-decoration: underline !important; cursor: pointer; font-family: inherit !important; border-top-width: 0px !important; border-right-width: 0px !important; border-bottom-width: 0px !important; border-left-width: 0px !important; border-top-style: none !important; border-right-style: none !important; border-bottom-style: none !important; border-left-style: none !important; border-top-color: transparent !important; border-right-color: transparent !important; border-bottom-color: transparent !important; border-left-color: transparent !important; background-image: none !important; background-attachment: initial !important; background-origin: initial !important; background-clip: initial !important; background-color: transparent !important; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 0px !important; padding-left: 0px !important; text-transform: none !important; display: inline !important; font-variant: normal; top: 0px; right: 0px; bottom: 0px; left: 0px; outline-style: none; outline-width: initial; outline-color: initial; position: static; font-weight: inherit !important; font-size: inherit !important; background-position: initial initial !important; background-repeat: initial initial !important; "><span style="color: rgb(0, 0, 255) !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; "><span class="kLink" style="border-top-width: 0px !important; border-top-style: none !important; border-top-color: initial !important; border-left-width: 0px !important; border-left-style: none !important; border-left-color: initial !important; border-right-width: 0px !important; border-right-style: none !important; border-right-color: initial !important; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: initial; padding-top: 0px !important; padding-right: 0px !important; padding-bottom: 1px !important; padding-left: 0px !important; color: rgb(0, 0, 255) !important; background-image: none; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: auto !important; float: none !important; display: inline !important; font-family: inherit !important; font-weight: inherit !important; font-size: inherit !important; position: static; background-position: initial initial; background-repeat: initial initial; ">Conflict</span></span></a> abounds in Otedola’s life: he claims his friend and fellow billionaire, Aliko Dangote, broke a gentleman’s agreement when he thwarted Zenon’s bid to buy Chevron’s local subsidiary in September. In retaliation, starting buying shares in Dangote’s publicly traded sugar company.</div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p></span></div></div></div></div></div><hr size="1"><div class="biobox"><h1 style="color: rgb(0, 0, 0); font-size: 22px; font-family: Arial, Tahoma, Verdana; font-weight: bold; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; line-height: 24px; ">11. Johann Rupert & family</h1><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><cite></cite><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Johann-Rupert-family_L9DS.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><strong>FORBES RANKING: #601</strong></a></p><div id="lingo_span" class="lingo_region"><div class="spacebox"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="wp-caption alignleft" style="float: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 260px; "><a href="http://www.forbes.com/lists/2009/10/billionaires-2009-richest-people_Johann-Rupert-family_L9DS.html" target="_blank" style="color: rgb(34, 85, 170); text-decoration: none; "><img src="http://images.forbes.com/media/lists/10/2009/johann-rupert.jpg" alt="David Cannon/Getty Images" width="250" height="175" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; " /></a><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; font-size: 10px; font-style: italic; font-weight: bold; line-height: 12px; ">David Cannon/Getty Images</p></div></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><strong><span style="color: rgb(0, 128, 0); "><span class="headerow0">Net Worth:</span><span class="mainlisttitle" style="padding-left: 3px; ">$1.2 bil</span></span></strong><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Fortune:</span><strong>inherited and growing</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Source:</span><strong>luxury goods</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Age:</span><strong>58</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Country Of Citizenship:</span><strong>South Africa</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Residence:</span><strong>Stellenbosch</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Industry:</span><strong> Retail</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Education:</span><strong>University of Stellenbosch, Bachelor of Arts / Science,</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; "><span class="headerow0">Marital Status:</span><strong>married, 3 children</strong></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><div class="biobox">Head of publicly traded Swiss luxury group Richemont, which owns Cartier, Dunhill and other premium brands. Stock down 70% since last February. His South African holding company, Remgro, is listing its stake in British American Tobacco on the Johannesberg exchange. But unbundling of the BAT stake will create pressure to find investments to replace the asset, say analysts. His private South African investment outfit, VenFin, finalized a much-anticipated deal to acquire British rugby club Saracens. With family relatives, owns two of South Africa’s best-known vineyards, Rupert & Rothschild and L’Ormarins; also owns one of the country’s most exclusive golf clubs.</div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div></div><iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fafricanvibes.com%2Fwordpressnew%2F2009%2F03%2F15%2Fafricas-billionaires%2F&layout=standard&show_faces=true&width=450&action=like&colorscheme=light&height=80" scrolling="no" frameborder="0" allowtransparency="true" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; overflow-x: hidden; overflow-y: hidden; width: 450px; height: 80px; "></iframe></div><div style="clear: both; "></div><div class="postmeta2" style="width: 590px; font-size: 12px; padding-top: 5px; padding-right: 0px; padding-bottom: 40px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; border-top-style: double; border-top-color: rgb(234, 234, 234); border-top-width: initial; ">Filed Under: <a href="http://africanvibes.com/wordpressnew/category/featured/" title="View all posts in Featured" rel="category tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Featured</a>, <a href="http://africanvibes.com/wordpressnew/category/lifestyle/" title="View all posts in Lifestyle" rel="category tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Lifestyle</a><br />Tagged: <a href="http://africanvibes.com/wordpressnew/tag/aliko-dangote/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Aliko Dangote</a>, <a href="http://africanvibes.com/wordpressnew/tag/femi-otedola/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Femi Otedola</a>, <a href="http://africanvibes.com/wordpressnew/tag/johann-rupert/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Johann Rupert</a>, <a href="http://africanvibes.com/wordpressnew/tag/mohammed-al-amoudi/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohammed Al Amoudi</a>, <a href="http://africanvibes.com/wordpressnew/tag/mohammed-ibrahim/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Mohammed Ibrahim</a>, <a href="http://africanvibes.com/wordpressnew/tag/naguib-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Naguib Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/nassef-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nassef Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/nicky-oppenheimer/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Nicky Oppenheimer</a>, <a href="http://africanvibes.com/wordpressnew/tag/onsi-sawiris/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Onsi Sawiris</a>, <a href="http://africanvibes.com/wordpressnew/tag/patrice-motsepe/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrice Motsepe</a>, <a href="http://africanvibes.com/wordpressnew/tag/patrick-soon-shiong/" rel="tag" style="color: rgb(34, 85, 170); text-decoration: none; ">Patrick Soon-Shiong</a></div></span>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com2tag:blogger.com,1999:blog-7828544376176973730.post-46937451330105874142012-07-11T10:50:00.000-07:002011-07-11T10:53:47.971-07:00Aliko Dangote: The Richest Black Man (Person) in the World<span class="Apple-style-span" style="font-family: 'Trebuchet MS', Verdana, Futura, Arial, Helvetica, sans-serif; font-size: 14px; "><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><b style="font-weight: 700; ">Who is <a target="_blank" title="Aliko Dangote" href="http://strategicbusinessteam.com/successful-entrepreneurs/aliko-dangote-the-richest-black-man-on-earth-and-the-bull-behind-one-of-africas-largest-conglomerate-dangote-group/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">Aliko Dangote</a>? How did Aliko Dangote become the <a target="_blank" title="richest black person" href="http://strategicbusinessteam.com/successful-entrepreneurs/aliko-dangote-the-richest-black-man-on-earth-and-the-bull-behind-one-of-africas-largest-conglomerate-dangote-group/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">richest black person</a> in the world</b>? Well, I will suggest you read on as there’s a lot to learn from this <b style="font-weight: 700; ">industrialist billionaire</b>.</p><p style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><span style="font-size: 11pt; line-height: 17px; font-family: Calibri, sans-serif; ">This is the <b style="font-weight: 700; ">inspiring story of how Aliko Dangote</b>, a man from the third world rose from a humble beginning to <b style="font-weight: 700; ">become not only the <a target="_blank" title="richest black man" href="http://strategicbusinessteam.com/successful-entrepreneurs/aliko-dangote-the-richest-black-man-on-earth-and-the-bull-behind-one-of-africas-largest-conglomerate-dangote-group/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">richest black man</a> in the world but also the richest black person in the world.</b></span></p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">Today, I am going to share <b style="font-weight: 700; ">some business lessons</b> from one of my mentors and role model. This mentor of mine controls over <b style="font-weight: 700; ">60% of <a title="Nigeria" href="http://www.strategicbusinessteam.com/small-business-opportunity/15-fastest-growing-business-opportunities-in-nigeria/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">Nigeria</a>'s sugar </b>market and over <b style="font-weight: 700; ">42% of the country's cement market</b>. I am talking of a country with over 150 million citizens. I bring to you, <b style="font-weight: 700; ">Aliko Dangote</b>; <b style="font-weight: 700; ">the richest black man in the world</b>.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><img alt="The richest black man in the world" class="size-full wp-image-756" height="188" src="http://strategicbusinessteam.com/wp-content/uploads/2010/01/richest-black-man-in-the-world.jpeg" title="the richest black man in the world" width="268" style="padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; " /><b style="font-weight: 700; ">Aliko Dangote is a business magnate, </b>whose <b style="font-weight: 700; ">business acumen and aggressiveness send fear into the mind of competitors</b>. He is <b style="font-weight: 700; ">the richest man in Africa, the richest man in Nigeria and the richest black person in the world</b>. <b style="font-weight: 700; ">This humble billionaire</b>currently sits atop one of <b style="font-weight: 700; ">Africa's largest conglomerate</b>, the <b style="font-weight: 700; ">Dangote Group</b>.</p><p style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><b style="font-weight: 700; "><span style="font-size: 11pt; line-height: 17px; font-family: Calibri, sans-serif; ">On the 9<sup>th</sup> of March 2011, Forbes magazine declared Aliko Dangote the richest black person in the world with a net worth of $13.8billion</span></b><span style="font-size: 11pt; line-height: 17px; font-family: Calibri, sans-serif; ">. It’s also worthwhile you know that <b style="font-weight: 700; ">Dangote is the 51th richest man in the world as at 9<sup>th</sup> March 2011</b></span>. But this was not so 25 years ago.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">Born on April 10, 1957 in Kano, state Nigeria, to the family of <b style="font-weight: 700; ">Muhammad Dangote and Hajiya Mariya Sanusi Dantata</b>. He had his primary and secondary education in Kano before he proceeded to <b style="font-weight: 700; ">Alazahar University, Cairo, Egypt</b> to obtain a degree. If not for the degree, he would probably have been on my list of the <b style="font-weight: 700; ">richest school <a target="_blank" title="drop out billionaires" href="http://strategicbusinessteam.com/successful-entrepreneurs/the-worlds-richest-school-drop-out-billionaires/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">drop out billionaires</a> in the world</b>.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">It was while working under his uncle, <b style="font-weight: 700; ">Sani Dantata that he found his passion and began developing his<a title="business skills" href="http://www.strategicbusinessteam.com/business-books-review/free-business-ebooks-you-can-download-to-increase-your-business-skills/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">business skills</a></b>. After developing his <b style="font-weight: 700; ">business skills and building his confidence</b>, he got a lot a <b style="font-weight: 700; ">loan of N500,000 (approximately $3,500 today)</b> from his uncle in 1977 to <b style="font-weight: 700; ">start his own business</b>. <b style="font-weight: 700; ">Aliko Dangote was also given a deadline of three years to repay the loan</b> but he repaid the loan in three months.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><b style="font-weight: 700; ">Aliko Dangote started business by trading in commodities</b> such as <b style="font-weight: 700; ">sugar, rice, salt, pasta, cotton, millet, vegetable oil, cocoa and textile</b>. In the course of <b style="font-weight: 700; ">running his business</b>, he developed <b style="font-weight: 700; ">strong business ethics and principles</b>. One of <b style="font-weight: 700; ">Aliko Dangote's business strategies</b> for succeeding in the commodity market was to <b style="font-weight: 700; ">develop a strong distribution network</b> and <b style="font-weight: 700; ">make the delivery of his goods faster than that of his competitors</b>.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">After gaining a <b style="font-weight: 700; ">strong hold on the commodities market</b>, <b style="font-weight: 700; ">Aliko Dangote ventured into manufacturing</b>and producing the same commodities he was importing. In an interview granted to a journalist by this billionaire, he stated that <b style="font-weight: 700; ">leaping from importation to manufacturing was his greatest business move</b>.</p><h1 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><span> </span>Aliko Dangote: The Richest Black Man in the World and founder of the Dangote Group</h1><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">Since he moved into manufacturing, <b style="font-weight: 700; ">Aliko Dangote has never looked back</b>. His company (<b style="font-weight: 700; ">Dangote Group</b>) controls over <b style="font-weight: 700; ">13 other companies</b> with most of them <b style="font-weight: 700; ">acquired through strategic mergers and acquisitions.</b> In celebration of his <b style="font-weight: 700; ">50th birthday anniversary in 2007</b>, he commissioned a <b style="font-weight: 700; ">one billion dollar factory</b> (<b style="font-weight: 700; ">Obajana Cement Factory</b>), which happens to be the <b style="font-weight: 700; ">largest cement factory in Africa</b>.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">Today, his group is made up of <b style="font-weight: 700; ">Dangote Sugar Refinery</b> (one of the <b style="font-weight: 700; ">most capitalized stocks</b> on the<b style="font-weight: 700; ">Nigerian stock exchange</b>), <b style="font-weight: 700; ">Dangote Flour Mills, Dangote sacks, Dansa Foods, Dangote transport, Obajana Cement</b> (<b style="font-weight: 700; ">Africa's largest cement factory</b>), <b style="font-weight: 700; ">National Salt Company Of Nigeria</b> (NASCON), <b style="font-weight: 700; ">Benue Cement Company Plc, the Bachita Sugar Company, Dangote Cement, Blue Star Shipping, Blue Star Investment and so on</b>. Just recently, he boosted his philanthropic activities with the launch of his foundation (<b style="font-weight: 700; ">Dangote Foundation</b>).</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">Dangote is respected in the business circle for his ability to <b style="font-weight: 700; ">buy and revive moribund companies</b>. He is also known for his strong belief. He strongly believes in Nigeria and he proved it by <b style="font-weight: 700; ">investing 100% in Nigeria</b>. To him, <b style="font-weight: 700; ">Nigeria is the best place to invest your money</b> and I think I agree with that.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><span> </span></p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Aliko Dangote: The Richest Black Person in the World</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">In acknowledgement of his <b style="font-weight: 700; ">business acumen</b>, <b style="font-weight: 700; ">Aliko Dangote</b> has been showered with many awards and has been listed as <b style="font-weight: 700; ">one of the 20 most outstanding CEO’s in Corporate Nigeria</b>. He was awarded the<b style="font-weight: 700; ">Most Respected CEO of the year</b>, by <b style="font-weight: 700; ">Price Water House Coopers/Business Day in 2005</b> and <b style="font-weight: 700; ">Cross River Roll of Honors Award</b>, <b style="font-weight: 700; ">Best Entrepreneur and Philanthropist of the year in 2002</b>. He was also conferred with the <b style="font-weight: 700; ">Officer of the Order of the Niger (OON) and Commander of the Order of the Niger (CON)</b>. Most recently, he was adjudged <b style="font-weight: 700; ">ThisDay Entrepreneur of the Year, 2006</b> and <b style="font-weight: 700; ">Best CEO of the Year also at the 11th Annual ThisDay Awards</b>. He has had a brief stint as <strong style="font-weight: 700; ">the president of the Nigerian Stock Exchange</strong>.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">In 2008, <b style="font-weight: 700; ">Aliko Dangote emerged the richest black man in the world with a net worth of $3.3 billion dollars</b> beating <b style="font-weight: 700; "><a target="_blank" title="Oprah Winfrey" href="http://strategicbusinessteam.com/successful-entrepreneurs/oprah-winfrey-the-most-famous-richest-black-woman-in-the-world/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">Oprah Winfrey</a></b>: who is the <a target="_blank" title="richest black woman" href="http://strategicbusinessteam.com/successful-entrepreneurs/oprah-winfrey-the-most-famous-richest-black-woman-in-the-world/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">richest black woman</a> in the world with a net worth of $2.5 billion dollars. This is with respect to Forbes ranking of world Billionaires.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">And in 2010, <strong style="font-weight: 700; ">Aliko Dangote merged his cement companies to become Dangote Cement and this new entity was listed on the Nigerian Stock Exchange</strong>. Thus, making <strong style="font-weight: 700; ">Aliko Dangote's cement company, one of the most capitalized company on the Nigerian Stock Exchange</strong> and <strong style="font-weight: 700; ">the biggest listing on the floor so fa</strong>r.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">The <strong style="font-weight: 700; ">total capitalization of the Dangote Group on the floor of the Nigerian Stock Exchange accounts for over 42% of the market capitalization</strong> (as at the time of the writing). Thereby making him "<strong style="font-weight: 700; ">Aliko Dangote" the biggest individual player on the exchange</strong>.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Five Lessons I Learned from Aliko Dangote: The Richest Black Man in the World and founder of the Dangote Group</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">In the course of studying the <b style="font-weight: 700; ">entrepreneurial lifestyle of this multi billionaire</b>, I was able to grab five<b style="font-weight: 700; ">business lessons and principles</b> that made him who he is today.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">1.<span> </span>Determination and Passion</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><img alt="Aliko dangote the richest black man in the world" class="size-full wp-image-757" height="225" src="http://strategicbusinessteam.com/wp-content/uploads/2010/01/Aliko-dangote.jpeg" title="Aliko dangote the richest black man in the world" width="225" style="padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; " /><b style="font-weight: 700; ">Aliko Dangote</b> is known for being a <b style="font-weight: 700; ">man of determination</b>. Anything he dreams, he set out to achieve. Just as he says "<b style="font-weight: 700; ">Passion is what drives me forward. Passion is what makes me go to bed at 2am and wake up at 6am</b>.” For you to <b style="font-weight: 700; "><a target="_blank" title="build a successful business" href="http://www.strategicbusinessteam.com/small-business-startups-advice/how-to-build-a-successful-business-from-scratch-my-entrepreneurial-journey-so-far/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">build a successful business</a></b>, you must <b style="font-weight: 700; ">passionate about <a title="building a business" href="http://www.strategicbusinessteam.com/small-business-startups-advice/how-to-build-a-successful-business-from-scratch-my-entrepreneurial-journey-so-far/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">building a business</a></b>. Passion will help you endure the challenges of the <a title="entrepreneurial process" href="http://strategicbusinessteam.com/small-business-startups-advice/the-entrepreneurial-process-to-building-a-business-from-scratch/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">entrepreneurial process</a>; without passion, forget about building a business.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><span> </span>"<b style="font-weight: 700; ">It is not really work if you are having fun.</b>" – Pierre Omidyar</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">2.<span> </span>The power of a strong mission</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">In course of understudying this role model of mine (<b style="font-weight: 700; ">Aliko Dangote</b>), I came to discover that his overall success is all hinged on one factor; <b style="font-weight: 700; ">his mission</b>. This mission is the fuel that drives his companies to<b style="font-weight: 700; ">dominate their market</b>. <b style="font-weight: 700; ">Aliko Dangote was able to <a target="_blank" title="become a billionaire" href="http://strategicbusinessteam.com/entrepreneurial-skills-development/how-to-become-a-self-made-billionaire/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">become a billionaire</a> because he has a very strong mission statement</b> and that mission is; "<b style="font-weight: 700; ">To provide the basic need of over 150 million Nigerians</b>"</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">I also learnt from <b style="font-weight: 700; ">Aliko Dangote that the spirit of the entrepreneur</b> is found in the mission statement and if this mission is strong, it will continue to drive the entrepreneur's companies to success even after his death.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">3.<span> </span>The power of a life purpose</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">Another lesson I picked from <b style="font-weight: 700; ">Aliko Dangote is the power of a life purpose</b>.<span> </span>Aliko Dangote has a strong life purpose and I will quote exactly what he said in an interview he granted:</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; text-indent: 0.5in; ">"<b style="font-weight: 700; ">After my death, I want to be remembered as Africa's greatest industrialist.</b>" – Dangote</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">This statement propelled me to also ask myself the question;</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; text-indent: 0.5in; ">"<b style="font-weight: 700; ">What will I be remembered for after I exit this world</b>?</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; text-indent: 0.5in; ">Now answer to the question above is what a life purpose is. To me, your life purpose is simply what you will be remembered for after your death.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">4.<span> </span>The power of strategy</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">While trading on commodities, Dangote developed a <b style="font-weight: 700; ">strategic plan that will set him apart from his competitors</b>. The first strategy he implemented was to create a <b style="font-weight: 700; ">strong brand</b> "<b style="font-weight: 700; ">Dangote Group</b>;” a brand that signifies quality. The second was to <b style="font-weight: 700; ">develop a strong distribution network throughout the country</b>, which in turn resulted in his <b style="font-weight: 700; ">ability to deliver his goods faster than his competitors</b>. The third strategy was to <b style="font-weight: 700; ">sell his product nationwide at uniform price</b>.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Aliko Dangote: The Richest Black Person in the World and founder of the Dangote Group</h2><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">In conclusion, despite the fact that <b style="font-weight: 700; ">Aliko Dangote emerged the richest black man in the world by 2008</b>, it took him <b style="font-weight: 700; ">30years to get there</b>. For 30years, he was <b style="font-weight: 700; ">committed and persistent to the entrepreneurial process of building a formidable business</b>. Along with this process come <b style="font-weight: 700; ">tough<a target="_blank" title="business challenges" href="http://strategicbusinessteam.com/entrepreneurial-skills-development/10-business-challenges-every-entrepreneur-must-face-when-building-a-business-from-scratch/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">business challenges</a></b>; if you stick to the process, you will hit the <b style="font-weight: 700; ">pot of gold</b>.</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><span> </span>“<b style="font-weight: 700; ">The <a target="_blank" title="Rich Dad" href="http://strategicbusinessteam.com/famous-small-business-quotes/rich-dads-quotes-famous-robert-t-kiyosaki-quotes-carved-out-from-his-rich-dads-lessons-part-1/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">Rich Dad</a> Company was an overnight success but it took us many years to get there.</b>” – <a target="_blank" title="Robert Kiyosaki" href="http://strategicbusinessteam.com/famous-small-business-quotes/rich-dads-quotes-famous-robert-t-kiyosaki-quotes-carved-out-from-his-rich-dads-lessons-part-1/" style="color: rgb(138, 2, 2); text-decoration: none; font-weight: 700; ">Robert Kiyosaki</a></p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; ">That brings me to the last lesson I learnt from this <b style="font-weight: 700; ">billionaire industrialist</b> and that lesson is this;<b style="font-weight: 700; ">Rome was not built in a day</b>. There is <b style="font-weight: 700; ">nothing like overnight, success requires hard work and persistence</b>. At this stage, I leave you with this quote:</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; text-indent: 0.5in; ">"<b style="font-weight: 700; ">The height attained by great men is not by sudden flight. For while their companions lay asleep, these men were toiling in the night.</b>" – Anonymous</p><p class="MsoNormal" style="margin-top: 1.2em; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.2em; text-align: justify; "><ins style="display: inline-table; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; height: 280px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: relative; visibility: visible; width: 336px; "></ins></p></span>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-85084776806118563752011-12-04T08:06:00.000-08:002011-12-04T08:07:34.585-08:00When Young Entrepreneurs Hosted Africa’s Richest Man, Aliko Dangote<div class="article-info-surround" style="padding-top: 0px; padding-right: 0px; padding-bottom: 9px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; font-family: Helvetica, Arial, sans-serif; font-size: 12px; line-height: 16px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><div class="article-info-surround2" style="padding-top: 10px; padding-right: 14px; padding-bottom: 10px; padding-left: 14px; "><p class="buttonheading" style="margin-top: 0px; margin-bottom: 0px; text-align: justify; margin-right: 0px; font-size: 1.2em; float: right; margin-left: 15px; "><a href="http://www.tribune.com.ng/sat/index.php/youth-achiever/5805-when-young-entrepreneurs-hosted-africas-richest-man-aliko-dangote.html?tmpl=component&print=1&layout=default&page=" title="Print" rel="nofollow" style="text-decoration: none; color: rgb(2, 105, 179); "><br /></a><br /></p><p class="articleinfo" style="margin-top: -13px; margin-bottom: 0px; text-align: justify; margin-right: 0px; font-size: 1.2em; line-height: 14px; margin-left: -13px; color: rgb(68, 68, 68); "><span class="createdate" style="display: block; "><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-size: 19px; line-height: 16px; ">Chairman, Dangote Group, Aliko Dangote, who the Forbes Magazine, America’s foremost business periodical publication sometime ago announced as Africa’s richest man was recently hosted to a roundtable discussion by Young African entrepreneurs among which are Nigerians.</span><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-size: 19px; line-height: 16px; "> </span><strong style="color: rgb(0, 0, 0); font-size: 19px; line-height: 16px; ">SEYI GESINDE </strong><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-size: 19px; line-height: 16px; ">reports.</span></span></p></div></div><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); "></p><div class="img_caption left" style="text-align: justify !important; color: rgb(0, 0, 153); font-size: 0.9em; float: left; margin-right: 1em; width: 250px; "><img class="caption" src="http://www.tribune.com.ng/sat/images/stories/feb2010/adangote%201.jpg" border="0" title="Dangote" align="left" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-align: center !important; " /><p class="img_caption" style="margin-top: 10px; margin-bottom: 15px; text-align: center; margin-right: 10px; font-size: 0.9em; line-height: 14px; clear: left; ">Dangote</p></div>Africa’s richest man and business mogul, Aliko Dangote was recently hosted to a roundtable talk by young African entrepreneurs in Lagos in the last episode of MTV Base Meets with... MTN. MTV is an American music television channel transmitting from New York, United States.<p></p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">Dangote was recently named by United States’ Forbes Magazine as the richest man in Africa and the 51st richest person in the world with a net worth of $13.8 billion.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">At the programme, the 54-year-old business magnate told the young entrepreneurs about the secret of success, beginning with his humble beginning in 1977.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">He made them know that all was not well from the onset – that it was not a bed of roses. He had to secure a loan from his rich uncle and what he sowed then with that little amount has now grown to become Africa’s largest business conglomerate – Dangote Group.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">Dangote, though started small, but now controls a business empire which boasts 12,000 employees. His business initiatives cover cement production, sugar manufacturing and transportation services, while he also has interest in oil and gas, banking, textiles and real estate.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">Among the four young entrepreneurs Dangote, spoke with at Eko Hotel, Lagos, venue of the programme, is an investment banker, a Nigerian and Masters in Business Administration (MBA) student, J.G. Ayodele.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">Others with him are Zimbabwean-born United States-based public administration and master’s degree student, Farayi Chipungu; a photographer, Yomi Black; another Nigerian and a Liberian singer, Jerrilyn.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">On every episode of MTV Base Meets…with MTN, African youths were given the opportunity to meet, speak with and ask questions from Africa’s political, cultural and business leaders.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">In the last editions of the programme, successful personalities in the world, among which are the music legend, Hugh Masekela; United Kingdom’s businessman, Richard Branson; Nigerian media guru, Ben Murray Bruce; South African politician, Julius Malema; Liberia’s president and a Nobel prize winner, who is the first and only Africa’s female president, Ellen Johnson-Sirleaf and Rwandan president, Paul Kagame had at a time been interviewed by Africa’s young entrepreneurs.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">Forbes Magazine had said that “the Nigerian businessman’s fortune surged 557 per cent in the past year, making him the world’s biggest gainer in percentage terms and Africa’s richest individual for the first time.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); "></p><div class="img_caption left" style="text-align: justify !important; color: rgb(0, 0, 153); font-size: 0.9em; float: left; margin-right: 1em; width: 200px; "><img class="caption" src="http://www.tribune.com.ng/sat/images/stories/feb2010/agroup.jpg" border="0" title="(A).Farayi , (B). Yomi , (c). Ayodele , (D). Jerrilyn" align="left" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-align: center !important; " /><p class="img_caption" style="margin-top: 10px; margin-bottom: 15px; text-align: center; margin-right: 10px; font-size: 0.9em; line-height: 14px; clear: left; ">(A).Farayi , (B). Yomi , (c). Ayodele , (D). Jerrilyn</p></div>“The catalyst was listing Dangote Cement, which integrated his investments across Africa with his previously public Benue Cement; it now accounts for a quarter of the Nigeria Stock Exchange’s total market cap.<p></p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">“Already the continent’s biggest cement maker, he has plants under construction in Zambia, Tanzania, Congo and Ethiopia and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">“Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering there later this year.</p><p style="margin-top: 10px; margin-bottom: 15px; text-align: justify; margin-right: 10px; font-size: 1.2em; line-height: 16px; font-family: Helvetica, Arial, sans-serif; background-color: rgb(255, 255, 255); ">“Dangote began his career as a commodities trader; built his Dangote Group into a conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.”</p>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com1tag:blogger.com,1999:blog-7828544376176973730.post-70418395690991661872011-12-04T08:00:00.000-08:002011-12-04T08:01:36.160-08:00Dangote, one good take<div class="article-tools clearfix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; 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padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 12px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: -webkit-auto; "></p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">President Goodluck Jonathan was battling to justify his conferment of the second highest national honour of Grand Commander of the Order of the Niger (GCON) on Alhaji Aliko Dangote. The presidential explanation came in the wake of criticisms to the effect that such exalted medal is reserved exclusively for the vice president, Senate president or any eminent public office holder. For the avoidance of doubt, there is no such ‘creed’ making the GCON the exclusive preserve of certain office holders. Since 1964 when the National Honours Act made national honours a nationally recognised reward instrument, over half a century Nigerians who were neither vice presidents nor presidents of the Senate had been honoured with the GCON medal.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">It was not therefore out of place for the president to honour Dangote with such exalted diadem. If anything, it was good he did. The argument ought to have been whether we should continue to honour more public office holders than those who have excelled in the private sector. Again, should we continue to hold the national honours ceremony annually or should we re-work the Act to make it biennially or once in four years?</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">And this is the context in which this year’s National Honours list is a cut above the ones of the previous years: its heavy content of private sector icons including members of the sports and Nollywood enterprise.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">In fact, the problem with national honour is the perception that it was nothing but a cheap reward system for indolent and often incompetent public office holders. Non-recognition of private sector whizkids and geniuses has over time robbed the ceremony of its lustre. All over the world, the common denominator among advanced nations is the useful synergy that exists between the government and the private sector. No responsible government in the Western world would ignore its private sector. Indeed, the trend is for major players in the private sector to be treated as special citizens; with utmost courtesy, care and comfort. At all times, the government seeks their opinion on major socio-economic issues.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">The reason is simple. It is these private sector maestros that create jobs and have the capacity to create more. In some cases, governments make commitment to these companies just to keep them going. When Bill Clinton was president of the United States and the fortunes of US aircraft manufacturers, McDonnell Douglas and Boeing were going down, it took the marketing skills of Clinton to convince the Saudi government to place orders for more aircraft in a deal worth $6 billion. That was in August 1993. Clinton as president had no stake in Boeing or Mc Donnell Douglas, he was only trying to keep those companies afloat just so their employees can keep their jobs and for more hands to be employed. It is called presidential encouragement (patronage).</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">In February this year when President Barack Obama was going all grey because of the dire job situation in the US , it was to the private sector icons that he looked. In a bid to sell his ‘win the future’ proposal, he met with the top cats of the Silicon Valley over dinner. But the meeting did not hold in the White House. Yes, the dinner held in the palatial home of John Doerr, a partner at the major Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers. There were 12 Silicon Valley CEOs in the room including Mark Zukerberg of Facebook, the late Steve Jobs of Apple, Oracle founder and CEO Larry Ellison, Reed Hasting of Netfix and Twitter CEO Dick Costolo.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">Obama wants to ‘win the future’ for America . He wants to drape America with high-speed wireless internet. In fact, he wants America to out-innovate the rest of the world through very ambitious funding of research and development all of which will translate to job creation. He could have invited the Silicon Valley magnates to the White House but never, he went ‘chasing’ after them. He wanted to honour them because they count. This happens in the West every time. Responsible governments work hard to protect private sector icons. They treasure them, honour them and never cease to let them know they are highly appreciated.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">This is the context the honour conferred on Dangote and other private sector recipients, particularly the entrepreneurs, should be seen as well thought out. Nigeria is perennially classified as one of the most difficult countries to do business. For someone to have grown a business from a mere start-up to a conglomerate employing over 12,000 workers and creating unquantifiable economies of scale on the same turf deserves both adulation and national recognition.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">The president was spot on when he said “those who by their innate abilities and creative energies have been able to make impact in our society even deserve more honour than those of us holding political offices. So, we would continue to encourage enterprise, creativity and Nigerians who have excelled in whatever form”. This should be the spirit. National honours should be for those who used their creative abilities, talent and skill to better the lot of humanity and not necessarily for those who by virtue of the public office they hold, are presumed to be working for the good of society. Sir Alex Ferguson of Manchester United and David Beckham were not honoured by the Queen of England because they functioned in 10 Downing Street or the House of Lords. They were honoured because they deployed their skills and creative energies in soccer artistry and management for the good of English football.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">The Nigerian award should be such that rewards more Dangotes, Tony Elumelus, Leo Stan Ekehs, Jim Ovias, outstanding academicians, writers, scientists and artisans. It is for men and women of rare heroics. And why, for instance, have we not honoured teenage brave-heart Detimbir Chia? Chia was the 14-year-old lad who in 2006 rallied his friends and community to rescue survivors of a military plane that crashed on Ngokugh Hill in Benue State . Chia, now 19, a first hand witness of the crash, did not only report the incident to his community folk, he was one of the five boys who climbed the hill to rescue the survivors. Such heroic deserves a national garland.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; ">As for Dangote, it was a damn good thing that the president honoured a Nigerian whose business acumen has thrust him as a veritable test case for the best Business schools. It was good we honoured our own who is today the richest black man (worth over $13.8 billion according to Forbes) on earth before others do it for us. My take: Dangote deserves his trophy.</p><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: justify; "></div><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: -webkit-auto; "></p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-31262937521475781342011-12-04T07:58:00.000-08:002011-12-04T07:59:41.220-08:00DR. ALIKO DANGOTE: AFRIPOL PERSON OF THE WEEK<h3 style="font: normal normal normal 15pt/normal arial; margin-top: 0px; margin-bottom: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(102, 102, 102); font-family: arial; text-align: -webkit-auto; "><span class="Apple-style-span" style="color: rgb(51, 51, 51); font-size: 13px; line-height: 21px; ">by</span><span class="Apple-style-span" style="color: rgb(51, 51, 51); font-size: 13px; line-height: 21px; "> </span><a href="http://www.groundreport.com/Afripol" style="font-size: 13px; line-height: 21px; text-decoration: none; color: rgb(13, 159, 184); ">Afripol</a><span class="Apple-style-span" style="color: rgb(51, 51, 51); font-size: 13px; line-height: 21px; "> </span><span class="Apple-style-span" style="color: rgb(51, 51, 51); font-size: 13px; line-height: 21px; "> </span><span class="Apple-style-span" style="color: rgb(51, 51, 51); font-size: 13px; line-height: 21px; "> </span><span id="article_date" style="color: rgb(51, 51, 51); font-size: 13px; line-height: 21px; ">November 23, 2011</span></h3><br /><br /><p style="font: normal normal normal 10pt/16pt arial; margin-top: 0px; margin-bottom: 4px; color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; "> <a href="http://afripol.org/afripol/item/411-aliko-dangote-afripol-person-of-the-week.html" style="text-decoration: none; color: rgb(13, 159, 184); ">http://afripol.org/afripol/item/411-aliko-dangote-afripol-person-of-the-week.html</a></p><br /><p style="font: normal normal normal 10pt/16pt arial; margin-top: 0px; margin-bottom: 4px; color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; ">Aliko Dangote is the brainy Nigerian based entrepreneur, the founder, CEO and president of Dangote Group. He is an industrialist, a manufacturer of commodities principally food and cement. The head office of Dangote Group is in Lagos, Nigeria but company's prowess is felt across Africa and beyond. Dangote can be described as the King of cement industry due to his vast, enormous and extensive investment in cement manufacturing throughout Africa.</p><br /><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "> No other Nigerian has done more than Alhaji Aliko Dangote for entrenchment, consolidation and promotion of capitalism, market economy and free enterprise particularly in Nigeria and Africa in general. With his industry, business acumen and dedication comes a great dividend and returns that has made Dangote the richest man in Nigeria and Africa. The world renowned capitalistic magazine Forbes has quantified his personal wealth at a tune of $10.1 billion and that is not bad at all for a person who started a business from a loan he got from an uncle. For his vanguard in business and investment in Nigeria, President Goodluck Jonathan awarded him Grand Commander Order of Niger,GCON, which he richly deserved and merit.</div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "> </div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; ">Forbes wrote that the "Nigerian commodities titan Aliko Dangote is also Africa's cement king. In late 2010, he listed Dangote Cement on the Nigerian Stock Exchange. The company integrated Dangote's cement investments across Africa, including Benue Cement, formerly listed on the Nigerian Stock Exchange. It's now the largest company on the Nigerian exchange, with a market capitalization of $10 billion. In August, Dangote received approval from the Central Bank of Nigeria to invest $4 billion to build a new cement facility in the Ivory Coast. He's also building a $115 million cement plant in Cameroon, and owns plants in Zambia, Senegal, Tanzania and South Africa, among others. Dangote started trading commodities more than three decades ago after receiving a business loan from his uncle. He then built the Dangote Group - a leading West African conglomerate with interests in cement manufacturing, sugar refineries, flour milling and salt processing. Venerable philanthropist has given away millions to education, health and social causes."</div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "> </div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; ">The great thing about Aliko Dangote is his commitment to Nigeria and Africa. Most of his investments are in Africa and with that he has shown that Nigeria and other African countries can be lucrative for investments due to large returns from them. Dangote is the largest private employer of labour in the continent and jobs given has aided to slow down rampant unemployment facing Nigeria and Africa. This has given hope to the youths and has sown the seed of fruitfulness in the emerging economies of Nigeria, Senegal, Zambia and many others in Africa. Dangote can now become a tril blazer, a role model to aspiring business executive and many rich Africans that they can invest in Africa's market. Dangote is the greatest rebranding that Nigeria needs because he has shown to the whole world by his handwork and patriotism that Nigeria and indeed Africa are ready for 21st century, that a century of innovations and possibilities can be spearhead by Nigerians and Africans.</div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "> </div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; ">For his unflinching patriotism, business commitment and investment in today and tomorrow’s Africa's, the board and staff of Afripol Organization chose the business giant and magnate ALIKO DANGOTE AS THE PERSON OF THE WEEK.</div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "> </div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "><strong>Africa Political and Economic Strategic Center (Afripol) is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa. http://afripol.org/ strategist@afripol.org</strong></div><div style="color: rgb(51, 51, 51); font-family: arial; font-size: 13px; line-height: 21px; text-align: -webkit-auto; "> </div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-8256755000018904032011-12-04T07:55:00.000-08:002011-12-04T07:57:52.563-08:00The sun shines bright The continent’s impressive growth looks likely to continue<h2 class="fly-title" style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.4em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); color: rgb(255, 0, 0); line-height: 21px; font-family: Verdana, Arial, sans-serif; text-align: -webkit-auto; ">Africa’s hopeful economies</h2><h3 class="headline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 2.2em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); line-height: 27px; color: rgb(51, 51, 51); font-family: Verdana, Arial, sans-serif; text-align: -webkit-auto; "><br /></h3><p class="ec-article-info" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); line-height: 20px; color: rgb(102, 102, 102); clear: both; float: left; font-family: Verdana, Arial, sans-serif; text-align: -webkit-auto; ">Dec 3rd 2011 | <em style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 11px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-style: normal; text-transform: uppercase; background-position: initial initial; background-repeat: initial initial; ">LAGOS</em> | from the print edition</p><div id="block-ec_components-share_inline_header" class="block block-ec_components" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 10px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); color: rgb(51, 51, 51); font-family: Verdana, Arial, sans-serif; text-align: -webkit-auto; "><div class="content clearfix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; 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border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><div class="content-image-full" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 15px; padding-top: 5px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: right; clear: both; "><img src="http://media.economist.com/sites/default/files/imagecache/full-width/images/articles/20111203_BBM998.gif" alt="" title="" class="imagecache imagecache-full-width" width="595" height="597" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; display: block; " /></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">HER $3 billion fortune makes Oprah Winfrey the wealthiest black person in America, a position she has held for years. But she is no longer the richest black person in the world. That honour now goes to Aliko Dangote, the Nigerian cement king. Critics grumble that he is too close to the country’s soiled political class. Nonetheless his $10 billion fortune is money earned, not expropriated. The Dangote Group started as a small trading outfit in 1977. It has become a pan-African conglomerate with interests in sugar and logistics, as well as construction, and it is a real business, not a kleptocratic sham.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Legitimately self-made African billionaires are harbingers of hope. Though few in number, they are growing more common. They exemplify how far Africa has come and give reason to believe that its recent high growth rates may continue. The politics of the continent’s Mediterranean shore may have dominated headlines this year, but the new boom south of the Sahara will affect more lives.</p><div class="related-items" style="margin-top: 4px; margin-right: 0px; margin-bottom: 10px; margin-left: 15px; padding-top: 15px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 3px; border-right-width: 0px; border-bottom-width: 3px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border-bottom-style: solid; border-bottom-color: rgb(170, 170, 170); border-top-style: solid; border-top-color: rgb(170, 170, 170); float: right; clear: both; width: 168px; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; display: block; background-position: initial initial; background-repeat: initial initial; ">Related topics</strong><div class="item-list" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "><ul class="related-item-list" style="list-style-type: none; list-style-position: initial; list-style-image: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><li class="first" style="list-style-type: none; list-style-position: initial; list-style-image: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.2em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.economist.com/topics/china" class="related-inline-topics" style="text-decoration: none; color: rgb(8, 82, 109); margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">China</a></li><li class=" even" style="list-style-type: none; list-style-position: initial; list-style-image: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.2em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.economist.com/topics/east-asia" class="related-inline-topics" style="text-decoration: none; color: rgb(8, 82, 109); margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">East Asia</a></li><li style="list-style-type: none; list-style-position: initial; list-style-image: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.2em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.economist.com/topics/india" class="related-inline-topics" style="text-decoration: none; color: rgb(8, 82, 109); margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">India</a></li><li class=" even" style="list-style-type: none; list-style-position: initial; list-style-image: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.2em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.economist.com/topics/world-bank" class="related-inline-topics" style="text-decoration: none; color: rgb(8, 82, 109); margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">World Bank</a></li><li class="last" style="list-style-type: none; list-style-position: initial; list-style-image: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 8px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.2em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.economist.com/topics/nigeria" class="related-inline-topics" style="text-decoration: none; color: rgb(8, 82, 109); margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Nigeria</a></li></ul></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">From Ghana in the west to Mozambique in the south, Africa’s economies are consistently growing faster than those of almost any other region of the world. At least a dozen have expanded by more than 6% a year for six or more years. Ethiopia will grow by 7.5% this year, without a drop of oil to export. Once a byword for famine, it is now the world’s tenth-largest producer of livestock. Nor is its wealth monopolised by a well-connected clique. Embezzlement is still common but income distribution has improved in the past decade.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Severe income disparities persist through much of the continent; but a genuine middle class is emerging. According to Standard Bank, which operates throughout Africa, 60m African households have annual incomes greater than $3,000 at market exchange rates. By 2015, that number is expected to reach 100m—almost the same as in India now. These households belong to what might be called the consumer class. In total, 300m Africans earn more than $700 a year. That’s not much, and many of those people could be pushed back into penury by a small change in circumstance. But it can cover a phone and even some school fees. “They are not all middle class by Western standards, but nonetheless represent a vast market,” says Edward George, an economist at Ecobank, another African banking group.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">As for Africans below the poverty line—the majority of the continent’s billion people—disease and hunger are still a big problem. Out of 1,000 children 118 will die before their fifth birthday. Two decades ago the figure was 165. Such progress towards the Millennium Development Goals, a series of poverty-reduction milestones set by the UN, is slow and uneven. But it is not negligible. And the mood among have-nots is better than at any time since the independence era two generations ago. True, Africans have a remarkable capacity for being upbeat. But it is seems that this time they really do have something to smile about.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">Lions and tigers (and bears)</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Since <em class="Italic" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">The Economist</em> regrettably labelled Africa “the hopeless continent” a decade ago, a profound change has taken hold. Labour productivity has been rising. It is now growing by, on average, 2.7% a year. Trade between Africa and the rest of the world has increased by 200% since 2000. Inflation dropped from 22% in the 1990s to 8% in the past decade. Foreign debts declined by a quarter, budget deficits by two-thirds. In eight of the past ten years, according to the World Bank, sub-Saharan growth has been faster than East Asia’s (though that does include Japan).</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Even after revising downward its 2012 forecast because of a slowdown in the northern hemisphere, the IMF still expects sub-Saharan Africa’s economies to expand by 5.75% next year. Several big countries are likely to hit growth rates of 10%. The World Bank—not known for boosterism—said in a report this year that “Africa could be on the brink of an economic take-off, much like China was 30 years ago and India 20 years ago,” though its officials think major poverty reduction will require higher growth than today’s—a long-term average of 7% or more.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">There is another point of comparison with Asia: demography. Africa’s population is set to double, from 1 billion to 2 billion, over the next 40 years. As Africa’s population grows in size, it will also alter in shape. The median age is now 20, compared with 30 in Asia and 40 in Europe. With fertility rates dropping, that median will rise as today’s mass of young people moves into its most productive years. The ratio of people of working age to those younger and older—the dependency ratio—will improve. This “demographic dividend” was crucial to the growth of East Asian economies a generation ago. It offers a huge opportunity to Africa today.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Seen through a bullish eye, this reinforces exuberant talk of “lion economies” analogous to the Asian tigers. But there are caveats. For one thing, in Africa, perhaps even more so than in Asia, wildly different realities can exist side by side. Averaging out failed states and phenomenal success stories is of limited value. The experience of the leaders is an unreliable guide to what will become of the laggards. For another, these are early days, and there have been false dawns before. Those of bearish mind will ask whether the lions can match the tigers for stamina. Will Africa continue to rise? Or is this merely a strong upswing in a boom-bust cycle that will inevitably come tumbling back down?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">More than diamond geezers</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><div class="content-image-float clearfix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 15px; padding-top: 5px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: right; clear: both; "><img src="http://media.economist.com/sites/default/files/imagecache/290-width/images/print-edition/20111203_BBC166_12.gif" alt="" title="" class="imagecache imagecache-290-width" width="290" height="299" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; display: block; " /></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Previous African growth spurts undoubtedly owed a lot to commodity prices (see chart 1). After all, Africa has about half the world’s gold reserves and a third of its diamonds, not to mention copper, coltan and all sorts of other minerals and metals. In the 1960s revenues from mining paid for roads, palaces and skyscrapers. When markets slumped in the 1980s the money dried up. The skylines of Johannesburg, Nairobi and Lagos are still littered with high-rise flotsam from the high-water marks of previous booms.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Recently revenues from selling oil and metals have helped to fill treasuries, create jobs and feed an appetite for luxury. In gem-rich Angola, high-grade diamonds are reimported after being cut in Europe to adorn the fingers of local minerals magnates and their molls.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Overall, though, only about a third of Africa’s recent growth is due to commodities. West and southern Africa are the chief beneficiaries. Equatorial Guinea gets most of its revenues from oil; Zambia gets half its GDP from copper. When commodity prices soften or tumble such countries will undoubtedly suffer. But it is east Africa, with little oil and only a sprinkling of minerals, that boasts the fastest-expanding regional economy on the continent, and there are outposts of similar non-resource-based growth elsewhere, such as Burkina Faso. “Everything is growing, not just commodities,” says Mo Ibrahim, a Sudanese mobile-phone mogul who is arguably Africa’s most successful entrepreneur.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">When the world economy—and with it commodity prices—tanked in 2008, African growth rates barely budged. “Africa has great resilience,” says Mthuli Ncube, chief economist of the African Development Bank. “A structural change has taken place.”</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">A long-term decline in commodity prices would undoubtedly hurt. But commodity-led growth on the continent is not as reversible as it used to be. For one thing, African governments have invested more wisely this time round, notably in infrastructure. In much of the continent roads are still dire. But there are more decent ones than there used to be, and each new length of tarmac will boost the productivity of the people it serves long after the cashflow that paid for it dries up. For another, Africa’s commodities now have a wider range of buyers. A generation ago Brazil, Russia, India and China accounted for just 1% of African trade. Today they make up 20%, and by 2030 the rate is expected to be 50%. If China and India continue to grow Africa probably will too.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">More jaw-jaw, less war-war</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">What’s more, many foreign participants in the African commodity trade have become less short-termist. They are likely to stick around after they finish mining; Chinese workers, of whom there are tens of thousands in Africa, have shown a propensity to morph into local entrepreneurs. A Cantonese construction company in Angola recently set up its own manufacturing arm to produce equipment that is difficult to import. Few Western competitors would do the same (though many of their colonial forebears did).</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Commodity growth may be more assured than it used to be. But two big drivers of Africa’s growth would still be there even if the continent held not a barrel of oil nor an ounce of gold. One is the application of technology. Mobile phones have penetrated deep into the bush. More than 600m Africans have one; perhaps 10% of those have access to mobile-internet services. The phones make boons like savings accounts and information on crop prices ever more available.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Technology is also aiding health care. The World Bank says malaria takes $12 billion out of Africa’s GDP every year. But thanks to more and better bed nets, death rates have fallen by 20%. Foreign investors in countries with high HIV-infection rates complain about expensively trained workers dying in their 30s and 40s, but the incidence of new infection is dropping in much of the continent, and many more people are receiving effective treatment.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">The second big non-commodity driver is political stability. The Africa of a generation ago was a sad place. The blight of apartheid isolated its largest economy, South Africa. Only seven out of more than 50 countries held frequent elections. America and the Soviet Union conducted proxy wars. Capital was scarce and macroeconomic management erratic. Lives were cut short by bullets and machetes.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Africa is still not entirely peaceful and democratic. But it has made huge strides. The dead hand of the Soviet Union is gone; countries such as Mozambique and Ethiopia have given up on Marxism. The dictators, such as Congo’s leopard-skin-fez-wearing Mobutu Sese Seko, that superpowers once propped up have fallen. Civil wars like the one which crippled Angola have mostly ended. Two out of three African countries now hold elections, though they are not always free and fair. Congo held one on November 28th.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">Friends and neighbours</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Even if many of the world’s most inept states can still be found between the Sahara and Kalahari deserts, governance has improved markedly in many places. Regulatory reforms have partially unshackled markets. A string of privatisations (more than 100 in Nigeria alone) has reduced the role of the state in many countries. In Nigeria, Africa’s biggest resource economy, the much-expanded service sector, if taken together with agriculture, now almost matches oil output.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Trade barriers have been reduced, at least a bit, and despite the dearth of good roads, regional trade—long an African weakness—is picking up. By some measures, intra-African trade has gone from 6% to 13% of the total volume. Some economists think the post-apartheid reintegration of South Africa on its own has provided an extra 1% in annual GDP growth for the continent, and will continue to do so for some time. It is now the biggest source of foreign investment for other countries south of the Sahara.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Somewhat belatedly, Africans are taking an interest in each other. Flight connections are improving, even if an Arab city, Dubai, is still the best hub for African travellers. Blocks of African economies have taken steps towards integration. The East African Community, which launched a common market in 2010, is doing well; the Economic Community of West African States less so. The Southern African Development Community has made the movement of goods and people across borders much easier. That said, barriers remain, and the economy suffers as a result. Africans pay twice as much for washing powder as consumers in Asia, where trade and transport are easier and cheaper.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><div class="content-image-float clearfix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 15px; padding-top: 5px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: right; clear: both; "><img src="http://media.economist.com/sites/default/files/imagecache/290-width/images/print-edition/20111203_BBC167_12.gif" alt="" title="" class="imagecache imagecache-290-width" width="290" height="281" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; display: block; " /></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">As in Asia a generation ago, relatively small increases in capital can produce large productivity gains. When, after decades of capital starvation, outside investors started to take that disproportionate return seriously, they helped Asia blossom. Now some of those investors are eyeing Africa. In financial centres such as London barely a week goes by without an Africa investor conference. Private-equity firms that a decade ago barely knew sub-Saharan Africa existed raised $1.5 billion for projects on the continent last year. In 2010 total foreign direct investment was more than $55 billion—five times what it was a decade earlier, and much more than Africa receives in aid (see chart 2).</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Foreign investors are no longer just interested in oil wells and mines. They are moving on to medium-sized bets on consumer goods. The number of projects—for example by retail chains such as Britain’s Marks & Spencer—has doubled in the past three years. Despite the boom in mining, the share of total investment going into extractive activities has shrunk by 13%. That said, the riches are far from evenly spread: three-quarters of all investments are in just ten big countries.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">The increased interest from outsiders that has been triggered by Africa’s political and technological changes is not, though, the heart of the story. Economic change has made life more rewarding for Africans themselves. They have more opportunities to start businesses and get ahead than they have enjoyed in living memory, and governments are showing some willingness to get out of their way. According to the World Bank’s annual ranking of commercial practices, 36 out of 46 African governments made things easier for business in the past year.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><div class="content-image-full" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 15px; padding-top: 5px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: right; clear: both; "><img src="http://media.economist.com/sites/default/files/imagecache/full-width/images/print-edition/20111203_BBP001_13.jpg" alt="" title="" class="imagecache imagecache-full-width" width="595" height="335" style="border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-style: initial; border-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; display: block; " /><span class="caption" style="display: inline; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-align: left; float: left; background-position: initial initial; background-repeat: initial initial; ">Talking to the future</span></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">No end to worries</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">That said, most African countries are still clustered near the bottom of the table. In all sorts of ways African governments need to run their countries more efficiently, more accountably and less intrusively. They also need to offer much better schooling, an area in which Africa woefully lags behind Asia. African businessmen constantly complain about the shortage of skills. Hiring qualified staff can be prohibitively expensive. The return of skilled exiles has helped in some newly peaceful countries, but often foreigners are needed, usually other Africans. Without better education, Africa cannot hope to emulate the Asian miracle.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Africa’s demographic dividend, too, is far from guaranteed. A growing population and a bulge of working-age citizens proved a blessing in Asia. But population growth always has its costs. All those extra people must be fed, educated and given opportunities. If illiberal policies obstruct growth and discourage firms from hiring, Africa’s extra millions may soon be jobless and disgruntled. Some may even take up arms—a sure recipe for disaster, both human and economic.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">An abundance of young people is like gearing on a balance sheet: it makes good situations better and bad ones worse. It is worrying that some of Africa’s fastest-growing populations are in economies not performing well at the moment; and fertility rates are not declining as uniformly, or as swiftly, as they did in Asia.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Africa’s extra people are flocking to cities. Some 40% of Africans are city dwellers now, up from 30% a generation ago. By 2025 the number is likely to be 50%. In Asia the rate is currently 52%. This is usually a good thing. Productivity is higher in cities. Transport costs are lower and markets are busier when people live close to each other. In bad times, the tight ethnic jumble of the city can be a powder keg. That said, Africa’s worst wars, such as those in Congo, Rwanda, Sudan and Somalia, have been fought in countries where most people are peasants or livestock herders.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Extra mouths will need to be fed. There is scope for this. Though Africa is now a net food importer, it has 60% of the world’s uncultivated arable land. It produces less per person now than in 1960. Africa’s land is often hard to farm, with large year on year variations in climate (a problem likely to get worse as the Earth heats up). Farmers lack access to capital for fertiliser and irrigation. More roads and storage depots are also needed; much of the harvest rots before it gets to market. And land ownership often raises thorny issues about who belongs to a place and who does not.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Agriculture is a long-term worry. A shorter term concern is how to deal with a coming slowdown and recession in the north. Investors fleeing risky assets in Europe are unlikely to put their cash into Africa. More likely they will pull back some of the money they have already invested there. The signs are that this is already happening. Bankers say the deal flow is slowing. But many remain generally bullish on Africa, convinced that its growth potential will reward patient investors and eventually lure back fickle ones.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Africa’s growth is now underpinned by a permanent shift in expectations. In many African countries people have at last started to see themselves as citizens, with the rights that citizenship brings. Greater political awareness makes it harder for incompetent despots to hold on to power, as north Africa has discovered. Bastions of the continent’s past—destitute, violent and isolated—are becoming exceptions.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 13px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; font-size: 1.3em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 20px; background-position: initial initial; background-repeat: initial initial; ">Africa is not the next China. It provides only a tiny fraction of world output—2.5% at purchasing-power parity. It is as yet not even a good bet for retail investors, given the dearth of stockmarkets. Mr Dangote’s $10 billion undeniably makes him a big fish, but the Dangote Group accounts for a quarter of Nigeria’s stockmarket by value: it is a small and rather illiquid pond. Nonetheless, Africa’s boom will continue to benefit Africans, serving the billion as well as the billionaires. That is no small feat.</p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-84015537794601128142011-12-04T07:53:00.000-08:002011-12-04T07:55:25.460-08:00Dangote’s Cement, Fertiliser Investment Hits $9bn<h2 id="page_content_Content9_oModuleContent_2_h2_TitleAlt" style="font-size: 3em; margin-top: 0px; margin-right: 0px; margin-bottom: 0.5em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><span class="Apple-style-span" style="font-size: 12px; font-weight: normal; ">29 Nov 2011</span></h2><div id="page_content_Content9_oModuleContent_2_div_InfoAlt" class="info-top" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0.6em; padding-right: 0px; padding-bottom: 0.6em; padding-left: 0px; border-top-width: 1px; 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margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Font Size: <a href="http://www.thisdaylive.com/articles/dangote-s-cement-fertiliser-investment-hits-9bn/103841/" class="font-smaller" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(11, 40, 134); text-decoration: none; ">a</a> / <a href="http://www.thisdaylive.com/articles/dangote-s-cement-fertiliser-investment-hits-9bn/103841/" class="font-bigger" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(11, 40, 134); text-decoration: none; ">A</a></p></div></div></div><div class="clear" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; "></div></div><div class="img" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; max-width: 540px; overflow-x: hidden; overflow-y: hidden; color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><img src="http://serving.thisdaylive.com/0bef99d6-acf5-4e2c-9779-8fa02ba3fcd4/assets/13011N.Alhaji-Aliko-Dangote.jpg?maxwidth=400&maxheight=540" id="page_content_Content9_oModuleContent_2_img_Banner" alt="13011N.Alhaji-Aliko-Dangote.jpg - 13011N.Alhaji-Aliko-Dangote.jpg" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; " /></div><div id="page_content_Content9_oModuleContent_2_div_Body" class="body" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; line-height: 1.5em; color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">President, Dangote Group, Alhaji Aliko Dangote</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">By Yemi Akinsuyi </strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">The President, Dangote Group, Alhaji Aliko Dangote, has said his investment in cement and fertiliser in Nigeria alone will hit $6 billion and $3 billion in other West African countries by 2012.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Dangote, who stated this in Abuja while receiving the Prince of Saudi Arabia, HRH Al-Waheed Bin Abdul-Aziz, enjoined the Prince not only to invest in entertainment industry alone but in transportation, education and tourism in Nigeria.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">The business mogul said Nigeria is a fertile land for investors and with the coming of the Saudi Arabian Crown Prince, both parties would have a lot to gain at the end of the day.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">“I want to heartily welcome you, your Royal Highness to Nigeria. Indeed, we are very happy to be your host and I want to assure you that the land will yield its abundant fruits unto you by the time you invest here.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">“Our people are friendly and will co-operate with you to move this nation forward. I and other business men and women here have invested in this country, in fact by next year, our cement and fertiliser investment in the country will hit $6 billion, while in other West African countries it will hit $3 billion,” Dangote disclosed.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Speaking on what the Crown Prince stands to gain in investing in entertainment industry, the Chairman, Dangote Groups said the industry is one of the fastest growing on in the country, with about seven and half per cent growth.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">While wishing Prince Abdul-Aziz a fruitful stay in the country, Dangote promised Federal Government readiness in providing the necessary incentives for his businesses to thrive in Nigeria.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Reiterating Dangote’s claim of environment friendly business in Nigeria, the Executive Secretary, Nigeria Investment Promotion Commission (NIPC), Mr. Mustafa Bello, said the Federal Government would provide five years corporate tax holiday, 140 per cent capital allowance in research and development, among others to the Saudi Arabian Crown Prince.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Bellopromised President Goodluck Jonathan’s readiness to do more for Abdul-Aziz whenever he kick-starts his purported investment plan in the country.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">The NIPC boss, who played host to the Prince, said his commission would do everything possible to fast-track the investment processes once it is ready.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Chief Femi Otedola, who was optimistic that one day the Prince would invest in Nigeria after his large investment in Sydney, said by the time Abdul-Aziz starts his investment in the country, he would not want to go back to any other country.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">“Your Royal highness, it is not a surprise to me that you have finally signified interest in investing in Nigeria. I knew you would one day do so after your initial investment in Sydney. I want to assure you sir, that by the time you finally come to Nigeria, you would not want to go back again because of the business environment friendly you will experience,” he said.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Otedola therefore called on the Saudi Prince not to delay in his coming as he would gain lots more in coming immediately to invest in the country.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">The Saudi Arabian Prince, who had earlier spoken through an interpreter that his main visit to Nigeria is to invest in entertainment industry in the country, said with the way he was well received and entertained, there is a clear indication that Nigeria is a place to be.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">He thanked President Jonathan and his host, Bello, for the kind reception he received so far from them and the business community.</p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-63015006430379849142011-12-04T07:52:00.000-08:002011-12-04T07:53:48.480-08:00Dangote stakes $7.7bn in Rivers Energy City<div class="article-tools clearfix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 12px; background-image: initial; background-attachment: initial; 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background-clip: initial; background-color: transparent; float: left; width: 381px; "><span class="createdate" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 11px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; "><br />MONDAY, 28 NOVEMBER 2011 00:00 </span><span class="createby" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; 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padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 12px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Tahoma, Verdana, sans-serif; line-height: 18px; text-align: -webkit-auto; "><div class="ja-thumbnailwrap thumb-right" style="margin-top: 0px; margin-right: 0px; margin-bottom: 10px; margin-left: 15px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; 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float: none !important; "><img src="http://www.businessdayonline.com/NG/images/resized/images/stories/1-alikodangote_200_200.jpg" border="0" align="left" style="margin-top: 5px; margin-right: 5px; margin-bottom: 5px; margin-left: 5px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: none !important; " /></a></div></div></div><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "><em style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">*FG’s $4 billion investment also coming</em></p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Aliko Dangote, president, Dangote Group, has directed his investment gaze in the direction of Rivers State with initial $7.7 billion (N1.2 trillion) stake in the state’s emerging energy city.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Rivers Energy City is part of the mega city concept known as the Greater Port Harcourt City which cuts across eight local councils including Ogu/Bolo, the host council of the energy city.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Dangote has already made open visits, having inspected the large expanse of land beside the waters at Okpokiri in Ogu/Bolo near Okrika Jetty along with the state governor, Chibuike Rotimi Amaechi. The energy city is on the other side of the multi-billion dollar Onne Oil and Gas Free Zone. A bridge is being constructed already to link the free zone and the energy city.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Dangote’s visit was a highlight of the recent Rivers Investors’ Forum which attracted international leaders and investors including immediate past prime minister of Britain, Gordon Brown, and the agric investment magnet in Belgium, Pierre Vendebeeck, chief executive of Siat NV.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">A top government source in Government House, Port Harcourt confirmed the decision of Dangote to storm the energy city with billions of dollars, saying the investment would span the petrochemical industry including methane, ethanol and fertiliser sub-sectors. Thousands of jobs are expected to gush out of the energy city project while subcontractors and suppliers as well as revenue sources for government are expected huge sizes.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Dangote would not be lacking competitors in his striving to venture into the petrochemical industry. There is the proposed $6 billion petrochemical project said to be the largest in Africa being floated by both the NNPC and a Saudi Arabian conglomerate, Xenel. There are also two proposed fertiliser plants by the Federal Government through the NNPC for $4 billion with Indian partners (Nararjuna) each with 1.3 million tons per annum.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Also, Indorama Eleme Petrochemical Company Limited (EPCL), which has successfully pioneered the petrochemical sector, is busy building a $2 billion fertiliser and ethanol plants at its present location as part of an expansion project in the face of rising global demands.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">The Rivers State government is said to be keen on cushioning Dangote’s landing in the energy city, and this may include revision of economic policies to attract more investors.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">The governor said at the investors’ forum that one of such areas is the public private partnership (PPP) law already enacted which, he said, provides the regulatory framework for collaboration between the state and the private sector.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">He said, “Our PPP law provides for viability funding gap where necessary, showing our determination to lean heavily in favour of the investor”.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Dangote is said to have been made to appreciate the fact that “Rivers State is the nerve centre of the Nigerian economy, accounting for 10 percent of the nation’s GDP, according to World Bank statistics”. The governor said the state accounts for over 40 percent of crude oil produced on-shore in the country and 100 percent of the liquefied natural gas exports from Nigeria. The state, according to him, is also quite attractively positioned, being the economic hub of the South South and South East regions of Nigeria. With its accessibility by land, air, water and rail, he said Rivers State is definitely Dangote’s ideal business destination.</p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-91275717586072653732011-12-04T07:50:00.000-08:002011-12-04T07:52:18.238-08:00In the Meantime, We Need Jobs<h2 id="page_content_Content9_oModuleContent_2_h2_TitleAlt" style="font-size: 3em; margin-top: 0px; margin-right: 0px; margin-bottom: 0.5em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><span class="Apple-style-span" style="font-size: 12px; font-weight: normal; ">04 Dec 2011</span></h2><div id="page_content_Content9_oModuleContent_2_div_InfoAlt" class="info-top" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0.6em; padding-right: 0px; padding-bottom: 0.6em; padding-left: 0px; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(204, 204, 204); border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(204, 204, 204); color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><div id="page_content_Content9_oModuleContent_2_div_InfoAltRight" class="info-top-right" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: right; "><div id="page_content_Content9_oModuleContent_2_ctl01_div_Container" class="control-font-size-zoom" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><div id="fontzoombtns" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Font Size: <a href="http://www.thisdaylive.com/articles/in-the-meantime-we-need-jobs/104212/" class="font-smaller" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(11, 40, 134); text-decoration: none; ">a</a> / <a href="http://www.thisdaylive.com/articles/in-the-meantime-we-need-jobs/104212/" class="font-bigger" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(11, 40, 134); text-decoration: none; ">A</a></p></div></div></div><div class="clear" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; "></div></div><div class="img" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; max-width: 540px; overflow-x: hidden; overflow-y: hidden; color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><img src="http://serving.thisdaylive.com/0bef99d6-acf5-4e2c-9779-8fa02ba3fcd4/assets/0101%20SK-backpagex.jpg?maxwidth=400&maxheight=540" id="page_content_Content9_oModuleContent_2_img_Banner" alt="0101SK-backpagex.jpg-0101SK-backpagex.jpg" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; " /></div><div id="page_content_Content9_oModuleContent_2_div_Body" class="body" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; line-height: 1.5em; color: rgb(51, 51, 51); font-family: Arial; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">SIMON KOLAWOLE LIVE. Email, simon.kolawole@thisdaylive.com</strong></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />Jobs. Jobs. Jobs. These days, I spend most of my time thinking about unemployment is Nigeria. My heart bleeds anytime I hear an armed robbery suspect confess: “I graduated in 2005… I looked for job for years without success… Then a friend told me he would introduce me to another friend so that I could make money… and then… ” Every day, youths swarm on internet cafés sending emails all over the world asking for people’s bank accounts to stash Abacha’s $50 million. Boko Haram recruits its members from the jobless, hapless populace. Latest statistics show that there are 32 million jobless Nigerians, most of them youths. Thirty-two million! An idle hand, it must be said, is tempting the devil. Much less 32 million pairs of idle hands! Any wonder why insecurity in the land is not abating? Any wonder then that the population of hired killers, armed robbers, kidnappers, et al, is not dwindling?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />There are times I ask myself: what if telecoms had not been deregulated and we were still stuck with NITEL? No MTN, no Glo, no Airtel, no Etisalat, no Visaphone, etc? What would unemployment be like in Nigeria today without the hundreds of thousands of jobs the telecoms industry has created in the last 10 years? Jobs for all categories of human beings—engineers, lawyers, accountants, journalists, recharge card sellers, phone importers, and so on and so forth. Many billionaires and millionaires have been produced by telecoms within a decade. I imagine that if the power sector is properly deregulated, we are talking about another employment boom with pleasant implications for economic growth, development and security. We would not only be talking of the massive boost stable power supply will bring to the economy, but also a sort of a new economy altogether. A well-thought-out deregulation of the petroleum industry even promises bigger economic and employment opportunities.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />I worry about unemployment also because I’m involved. I have scores of CVs on my desk and dozens in my email, everybody looking for a job, either at THISDAY or somewhere else. I’ve had graduates asking me to help them get “any job”—even as cleaners! It breaks my heart. One of my greatest joys is when I’m able to help someone secure a job—but, my God, jobs are so difficult to come by nowadays! The economic environment is stifling—and the inadequacy of infrastructure is not helping matters either. I tell people that what we spend monthly on diesel to power generators at THISDAY is enough to employ at least 50 fresh graduates. Can you also imagine if telecoms operators don’t have to spend billions buying tanker-loads of diesel to power thousands of generators everyday (every cell site has two generators running “relays” round the clock)? Not only would tariff crash automatically, the operators would be able to expand operations faster, improve service, reach more communities and create more and more and more jobs.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />That is why any initiative that creates jobs excites me. For me, President Goodluck Jonathan should focus his policies on creating the enabling environment for entrepreneurs to create jobs. Even government-financed projects must target jobs as well. There should be a job component. We need jobs badly. I know there are developments here and there but because of the enormity of our problems, they seem like drops in the ocean. My mood was brightened last week when Nigeria’s biggest industrialist, Alhaji Aliko Dangote, announced plans to expand production at the Ibese cement plant. Output is expected to double at the 6 million-metric tonne plant operated by Dangote Cement Plc. Dangote, rated Africa’s richest man with an estimated business worth of $13.8 billion by Forbes, is Nigeria’s biggest employer of labour with a workforce of 18,000. This figure will increase to 22,000 when his ongoing projects are completed. Obviously, he is the biggest tax payer in Nigeria. Dangote’s CSR spending this year alone is close to N15 billion, including supports for victims of riots and flood across the country.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />Last night, THISDAY Board of Editors hosted Dangote (and Petroleum Minister Diezani Alison-Madueke) to a dinner at Eko Hotel to celebrate the Grand Commander of the Order of the Niger (GCON)—the second highest national honour—bestowed on him by President Jonathan. I was amazed that some people considered Dangote’s GCON award worthy of criticism. The conventional wisdom was that such an honour was reserved for serving and former vice-presidents, senate presidents and chief justices. But, as it turned out, GCON had been awarded to scores of Nigerians who were none of the above. But one clearly unique feature is that the other GCON awardees were government officials at one time or the other. No single private sector person had ever been so honoured until Dangote. I think he more than deserves it. I completely disagree with those who think only generals and politicians deserve to be honoured with the GCON. Dangote has certainly touched more lives than most of them.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />Dangote, who surprisingly does not own any property outside Nigeria, started from a humble beginning. Some still remember Dangote as the importer of sugar and cement with very “brutal” trading strategies that stifled the competition. But Dangote has successfully transited from just an importer to a big manufacturer. This is how wikipedia describes him: “The Dangote Group, originally a small trading firm founded in 1977, is now a multi-trillion naira conglomerate with operations in Benin, Ghana, Nigeria, and Togo. Dangote's businesses include food processing, cement manufacturing, and freight. Dangote Group has moved from being a trading company to Nigeria's largest industrial group, including Dangote Sugar Refinery (the most capitalised company on the Nigeria Stock Exchange, valued at over US$3 billion with Aliko Dangote's equity topping US$2 billion), Africa's largest Cement Production Plant: Obajana Cement, Dangote Flour amongst others.”</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />What the Nigerian economy needs urgently is more Dangotes. More entrepreneurs. More investments. More jobs. What the government needs to do is make the environment friendly. I don’t expect electricity to be stable overnight, but I expect urgent, concentrated and sustained action, pursued with all sincerity, to improve the situation. This is as urgent as yesterday! The need to fix the transport infrastructure is as urgent as yesterday! Nevertheless, we didn’t have these perfect conditions before a Dangote emerged, so while we await the more suitable environment, we can still make some progress in spite of the odds. There have been many Nigerians who have benefited from government patronage or support over the years like Dangote but would rather go and buy property in London and Dubai than invest a kobo in the Nigerian economy. I do not even want to talk about those who loot the economy and then go to South Africa or wherever to set up refineries.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />Of course, I do not try to deceive myself by saying the only problem militating against job creation is infrastructure. Government policies also matter. Consistency is important. Policy summersaults often discourage investment as you are not sure what will happen next. There should also be incentives, which, as we have discovered, are usually abused in Nigeria even if the intention is clean. One moment, government says only those who are investing in the downstream sector that should get fuel import contracts; the next you see the names of even hair salon operators on the list of beneficiaries. This can only be counterproductive.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br />We often ask this question: what really is the problem with Nigeria? Ask a million of us and you'll get a million answers. It's Lord Lugard, it's colonialism, it's corruption, it's the economy, it's PDP, it's revenue sharing formula, it's leadership, it's the police, it's the military. Someone once told me the problem was lack of resource control in the Niger Delta. Another said it's the media. It is not just one problem, though. It’s a plethora of problems which we can argue and articulate in volumes of books. Personally, I've always believed and argued on this page that the economic situation is the biggest contribution to tension and rot in the land. I do not intend to deny that our peculiar political structure is deficient—neither do I ever seek to argue that we are getting the leadership right.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">In the meantime, while we await the resolution of our problems, our people need jobs. We need to get them off the streets, off crime, off militancy. President Jonathan should focus all his energy on creating the enabling environment for job creation. We need more Dangotes.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "></p><h4 style="font-size: 1.167em; margin-top: 0px; margin-right: 0px; margin-bottom: 0.5em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">AND FOUR OTHER THINGS...</strong></h4><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Farida’s Fall</strong><br />I was never a fan of the ousted chairman of the Economic and Financial Crimes Commission (EFCC), Mrs Farida Waziri. It was nothing personal. The circumstances that led to her appointment in 2008 were too tainted: there was a desperate bid to get rid of Malam Nuhu Ribadu by some crooked politicians who then nominated Waziri as replacement. And she never hid her mission from day one, doing everything possible to protect her benefactors, including writing THAT infamous letter to the British authorities absolving a former governor of all corruption allegations.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Her appointment was one of the early crises faced by the President Umaru Musa Yar’Adua. But at the end of the day, you could hardly blame Farida; political intrigues are part and parcel of the contradictions dogging the anti-graft war. Politicians always seem to have the final say. She did her best, obviously, but the original stain stuck like a badge.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Enter Lamorde (Again)</strong><br />You will never witness a bigger irony than that of Mr. Ibrahim Lamorde’s fate at EFCC. When Malam Nuhu Ribadu was eased out as chairman by Yar’Adua, Lamorde became the acting chairman and handed over to Mrs Farida Waziri. Now Waziri has handed over back to him as acting chairman, pending confirmation by the senate as required by law. Lamorde, who is regarded as a tough policeman, is seasoned in the anti-graft war, having been part of the pioneer team at EFCC in 2003. As Director of Operations, he was a big unseen hand in the successes recorded by Ribadu. The EFCC chair is very hot and Lamorde will soon begin to face his own battles. He will either be accused of being too harsh or too soft. Or that he is fighting a “selective” war. I have only one piece of advice for him: talk less and do more. He should never crave those sensational newspaper headlines.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Adieu Ibru</strong><br />I never met him. I never worked for the The Guardian. But I always admired Mr. Alex Ibru from afar. When he founded the newspaper in 1983, his dream was that it would become of the top five English newspapers in the world. I’m not too sure his dream has been fulfilled yet but he surely built an institution that has groomed and produced many fine journalists. Ibru also managed to keep the newspaper off any political leaning, a trait that almost cost him his life 16 years ago when, as Minister of Internal Affairs, he was expected by the murderous Sani Abacha regime to paint Guardian in the colour of the junta. He left the cabinet instead. He was later shot by the junta’s marksmen in a failed assassination attempt. He lost his eye but never lost his sight—or his foresight, for that matter.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Tears for Yasmin</strong><br />Last Sunday would qualify as one of the most depressing I’ve ever had. As I prepared to watch the English Premier League match between Swansea and Aston Villa, I learnt of the death of Wales manager, Gary Speed, who apparently committed suicide. He had had an encouraging start to his coaching career and, at 42, a bright future was ahead of him.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">I was still grieving over this tragedy when I heard the news of the death of Yasmin, the cerebral daughter of Malam Nasir el-Rufai. To think she died at 25—when she was about to launch fully into life with a clutch of impressive degrees—is all the more painful. My only prayer is that God will comfort her parents and the other members of the family at this trying period of their lives. </p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-78146625400316203532011-12-04T07:49:00.000-08:002011-12-04T07:50:41.493-08:00Dangote stakes $7.7b in Rivers Energy City<h1 class="page_title" style="padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 10px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; font-size: 30px; font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255); "><span class="Apple-style-span" style="color: rgb(119, 119, 119); font-size: 12px; font-weight: normal; ">By</span><span class="Apple-style-span" style="color: rgb(119, 119, 119); font-size: 12px; font-weight: normal; "> </span><span class="story_author" style="color: rgb(119, 119, 119); font-size: 12px; "><a href="http://www.thenationonlineng.net/2011/index.php/author/Tunde/" style="color: rgb(0, 128, 64); text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; ">Daniel Essiet and agency report</a></span><span class="Apple-style-span" style="color: rgb(119, 119, 119); font-size: 12px; font-weight: normal; "> </span></h1><div class="font_size" style="font-size: 11px; text-align: right; margin-bottom: 12px; font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255); ">Font size: <a href="http://www.thenationonlineng.net/2011/index.php/business/28180-dangote-stakes-7-7b-in-rivers-energy-city.html" style="color: rgb(0, 128, 64); text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; "><img alt="Decrease font" border="0" src="http://www.thenationonlineng.net/2011/themes/default/img/font_decrease.gif" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; vertical-align: bottom; padding-left: 3px; " /></a> <a href="http://www.thenationonlineng.net/2011/index.php/business/28180-dangote-stakes-7-7b-in-rivers-energy-city.html" style="color: rgb(0, 128, 64); text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; "><img alt="Enlarge font" border="0" src="http://www.thenationonlineng.net/2011/themes/default/img/font_enlarge.gif" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; vertical-align: bottom; padding-left: 3px; " /></a></div><div id="article_body" style="font-size: 14px; line-height: 1.6em; width: 600px; overflow-x: hidden; overflow-y: hidden; margin-bottom: 12px; font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255); "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">The President, Dangote Group, Aliko Dangote has directed his investment gaze to Rivers State with an initial $7.7 billion (N1.2 trillion) stake in the state’s emerging energy city. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">Rivers Energy City is part of the mega city concept known as the Greater Port Harcourt City, which cuts across eight local councils, including Ogu/Bolo, the host council of the energy city. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">Dangote, according to African Business Community, has already made open visits, having inspected the large expanse of land beside the waters at Okpokiri in Ogu/Bolo near Okrika Jetty along with the state governor, Chibuike Rotimi Amaechi. The energy city is on the other side of the multi-billion dollar Onne Oil and Gas Free Zone. A bridge is being constructed already to link the free zone and the energy city. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">Dangote’s visit was a highlight of the recent Rivers Investors’Forum, which attracted international leaders and investors, including the immediate past prime minister of Britain, Gordon Brown, and the agric investment magnate in Belgium, Pierre Vendebeeck, the Chief Executive of Siat NV. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">A source at the Government House, Port Harcourt confirmed the decision of Dangote to invest in the energy city, saying thist would span the petrochemical industry including methane, ethanol and fertiliser sub-sectors. Thousands of jobs are expected to gush out of the energy city project while subcontractors and suppliers as well as revenue sources for government are expected huge sizes. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">Dangote would not be lacking competitors in his striving to venture into the petrochemical industry. There is the proposed $6 billion petrochemical project said to be the largest in Africa being floated by both the NNPC and a Saudi Arabian conglomerate, Xenel. There are also two proposed fertiliser plants by the Federal Government through the NNPC for $4 billion with Indian partners (Nararjuna) each with 1.3 million tons per annum. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">Also, Indorama Eleme Petrochemical Company Limited (EPCL), which has successfully pioneered the petrochemical sector, is busy building a $2 billion fertiliser and ethanol plants at its present location as part of an expansion project in the face of rising global demands. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">The Rivers State government is said to be keen on cushioning Dangote’s landing in the energy city, and this may include revising of economic policies to attract more investors. </span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-family: georgia, palatino; font-size: small; ">The governor said at the investors’ forum that one of such areas is the public-private partnership (PPP) law already enacted, which he said, provides the regulatory framework for collaboration between the state and the private sector. </span></p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-61926105662786634982011-11-06T15:06:00.000-08:002011-11-06T15:10:22.018-08:00Aliko Dangote's Lie<div class="breadcrumb breadcrumbs" style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 11px; background-image: initial; 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"><span class="trail-before" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; "><span class="breadcrumb-title" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">Browse:</span></span> <a href="http://thestreetjournal.org/" title="THE STREET JOURNAL" rel="home" class="trail-begin" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; cursor: pointer; color: rgb(9, 55, 84); ">Home</a> <span class="sep" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">/</span> <a href="http://thestreetjournal.org/2011/" title="2011" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; cursor: pointer; color: rgb(9, 55, 84); ">2011</a> <span class="sep" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">/</span> <a href="http://thestreetjournal.org/2011/10/" title="October 2011" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; cursor: pointer; color: rgb(9, 55, 84); ">October</a> <span class="sep" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">/</span> <span class="trail-end" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">Aliko Dangote’s Lie!</span></div></div><div id="utility-before-content" class="sidebar utility" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; text-align: -webkit-auto; "><div id="rp_liscroll_ticker" class="widget widget_rpliscrollticker widget-widget_rpliscrollticker" style="color: rgb(51, 51, 51); font-family: Verdana, Geneva, Tahoma, sans-serif; font-size: 12px; line-height: 22px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; 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outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; width: 600px; height: 27px; overflow-x: hidden; overflow-y: hidden; "><div class="mask" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; position: relative; left: 10px; top: 8px; width: 588px; overflow-x: hidden; overflow-y: hidden; "><ul id="rpliscrollticker" class="newsticker" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; list-style-type: none; list-style-position: initial; list-style-image: initial; position: relative; left: 402.20000000000005px; font: normal normal bold 12px/normal Verdana; width: 551px; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; overflow-x: hidden; overflow-y: hidden; float: left; "><span style="margin-top: 0px; margin-right: 10px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">6th November, 2011 17:45</span><a href="http://thestreetjournal.org/2011/11/us-embassy-in-nigeria-warns-of-impending-terror-attacks/" style="margin-top: 0px; margin-right: 50px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; cursor: pointer; color: rgb(255, 0, 0); white-space: nowrap; font: normal normal bold 12px/normal Verdana; ">US Embassy In Nigeria Warns Of More Attacks</a></li></ul></div></div></div></div><div id="slidedeck_widget-3" class="widget slidedeck_widget widget-slidedeck_widget" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; overflow-x: hidden; overflow-y: hidden; border-width: initial; border-color: initial; "><div class="widget-wrap widget-inside" style="text-align: left; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; "><span class="Apple-style-span" ><span class="Apple-style-span" style="line-height: 25px;"><br /></span></span></div></div></div><div id="post-1996" class="hentry post publish post-1 odd author-newsadmin category-business" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 12px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; 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padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; "><a href="http://thestreetjournal.org/wp-content/uploads/2011/10/Aliko-Dangote.jpg" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; cursor: pointer; color: rgb(51, 102, 153); "><img class="alignleft size-thumbnail wp-image-1998" title="Aliko Dangote" src="http://thestreetjournal.org/wp-content/uploads/2011/10/Aliko-Dangote-150x150.jpg" alt="" width="150" height="150" style="margin-top: 0px; margin-right: 20px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; border-width: initial; border-color: initial; float: left; display: inline; max-width: 600px; height: auto; " /></a>Venue was the Aso Rock Villa and the event was the Presidential Retreat on Economic Development which held between13th -14<sup style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 10px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; position: relative; bottom: 0.3em; background-position: initial initial; background-repeat: initial initial; ">th</sup> October, 2011.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; ">The retreat had top government functionaries and captains of industries in attendance. The retreat was mainly with the private sector in order to carry them along in the government’s efforts to foster economic development</p><h6 style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 1.1em; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; font-weight: normal; font-family: Georgia, Times, 'Times New Roman', serif; color: rgb(68, 68, 68); ">While speaking at the Presidential retreat that was concluded on Friday, Nigeria’s foremost industrialist, Alhaji Aliko Dangote disclosed that he <span id="more-1996" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; "></span>would not invest in Nigeria’s power sector. He said “once you’re successful everybody wants to bring you down. Dangote has not gotten a waiver in the last 20 years. We will rather encourage others to invest because the moment Dangote jumps in to invest in power people will shout monopoly”.</h6><h6 style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 1.1em; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; font-weight: normal; font-family: Georgia, Times, 'Times New Roman', serif; color: rgb(68, 68, 68); ">Contrary to the billionaire businessman’s claim that he has not gotten a waiver in the last 20 years, documents in Street Journal’s possession show that his Dansa Oil and Gas actually benefited from a waiver around March 2011, thanks to the Central Bank Governor, Malam Lamido Sanusi and Intercontinental Bank Plc’s MD, Lai Mohammed.</h6><h6 style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 1.1em; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; font-weight: normal; font-family: Georgia, Times, 'Times New Roman', serif; color: rgb(68, 68, 68); "><a href="http://thestreetjournal.org/wp-content/uploads/2011/10/CBN3.jpg" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; cursor: pointer; color: rgb(51, 102, 153); "><img class="alignright size-medium wp-image-1997" title="CBN3" src="http://thestreetjournal.org/wp-content/uploads/2011/10/CBN3-223x300.jpg" alt="" width="223" height="300" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; border-width: initial; border-color: initial; float: right; display: inline; max-width: 600px; height: auto; " /></a>According to the loan schedule, Dansa Oil and Gas with the Facility Account Number 012tims09202001 had an outstanding balance of N 14, 529, 671, 115. 15 (Fourteen Billion Five Hundred and Twenty Nine Million, Six Hundred and Seventy One Thousand One Hundred and Fifteen Naira, Fifteen Kobo.). The Purchase Price was however put at N 943, 025, 587.62 ( Nine Hundred and Forty Three Million, Twenty Five Thousand Five Hundred and Eighty Seven Naira sixty Two Kobo) leaving a waiver of N 13, 586, 645, 527. 53 (Thirteen Billion Five Hundred and Eighty Six Million, Six Hundred and Forty Five Thousand Five Hundred and Twenty Seven Naira and Fifty Three Kobo).</h6><h6 style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; font-size: 1.1em; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; font-weight: normal; font-family: Georgia, Times, 'Times New Roman', serif; color: rgb(68, 68, 68); ">It will be recalled that Dansa Oil and Gas owned by the billionaire businessman was also on the list of Intercontinental Bank Plc’s debtors.</h6><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; vertical-align: baseline; outline-style: none; outline-width: initial; outline-color: initial; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; text-decoration: none; "> </p></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-66067670044011016442011-11-06T15:03:00.000-08:002011-11-06T15:06:08.838-08:00Dangote Pledges N2 Billion Housing Fund to Stimulate Industry<table width="1015px" border="0" bordercolor="#CC6633" style="font-family: tahoma; background-color: rgb(255, 255, 255); "><tbody><tr><td align="right" valign="top" style="font-size: 12px; color: rgb(30, 75, 118); "><div align="center"></div></td><td valign="top" width="100%" style="font-size: 12px; color: rgb(30, 75, 118); "><table width="100%"><tbody><tr><td style="font-size: 12px; color: rgb(30, 75, 118); "><table border="0" cellpadding="0" cellspacing="0" width="100%"><tbody><tr><td class="pageTitle" valign="middle" style="font-size: 14px; color: rgb(30, 75, 118); font-weight: bold; padding-left: 2px; "><h1 class="storytitle" style="font-weight: normal; font-size: 24px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 1px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 494px; color: rgb(0, 102, 153); ">Dangote Pledges N2 Billion Housing Fund to Stimulate Industry <a href="http://www.menafn.com/rss/Menafn_MostaPopular_global_en.xml" target="_blank" title=" World News RSS" style="color: rgb(63, 109, 139); text-decoration: none; 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" /></a></div></div><br /><div class="dots" style="background-image: url(http://www.menafn.com/images/Css_images/dots_h.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; margin-top: 1px; margin-right: 0px; margin-bottom: 1px; margin-left: 0px; overflow-x: hidden; overflow-y: hidden; height: 1px; background-position: initial initial; background-repeat: repeat no-repeat; "></div></td></tr><tr><td width="660px" class="newsDisp" id="resizeableText" valign="top" style="font-size: 12px; color: rgb(0, 102, 153); margin-right: 30px; top: 40px; "><div id="googleads"><ins style="display: inline-table; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; height: 60px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: relative; visibility: visible; width: 234px; "><ins id="aswift_0_anchor" style="display: block; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; height: 60px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: relative; visibility: visible; width: 234px; "><iframe allowtransparency="true" frameborder="0" height="60" hspace="0" marginwidth="0" marginheight="0" scrolling="no" vspace="0" width="234" id="aswift_0" name="aswift_0" style="left: 0px; position: absolute; top: 0px; "></iframe></ins></ins> <ins style="display: inline-table; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; height: 60px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: relative; visibility: visible; width: 234px; "><ins id="aswift_1_anchor" style="display: block; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; height: 60px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: relative; visibility: visible; width: 234px; "><iframe allowtransparency="true" frameborder="0" height="60" hspace="0" marginwidth="0" marginheight="0" scrolling="no" vspace="0" width="234" id="aswift_1" name="aswift_1" style="left: 0px; position: absolute; top: 0px; "></iframe></ins></ins></div><p class="NORMAL" style="text-align: justify; ">Oct 31, 2011 (Daily Trust/All Africa Global Media via COMTEX) -- President of Dangote Group, Alhaji Aliko Dangote has pledged to provide N2 billion fund to the Federal Government to tackle housing problems.</p><p class="NORMAL" style="text-align: justify; ">Nigeria needs about 18 million housing units to address the housing shortage of its over 150 million population that is projected to hit about 200 million soon.</p><p class="NORMAL" style="text-align: justify; ">Recently, the Minister of Housing and Environment, Amma Pepple said that there was urgent need to address the nation's housing deficit especially in view of the unemployment situation.</p><p class="NORMAL" style="text-align: justify; ">The Minister also explained that the housing deficit is a big challenge which could be turned to a job creation strategy in line with the objectives of the transformation agenda and the vision 20:2020.</p><p class="NORMAL" style="text-align: justify; ">Dangote said he offered to contribute to the efforts at providing houses as an opportunity to create jobs, according to a statement from the Dangote Group.</p><p class="NORMAL" style="text-align: justify; ">He said the N2 billion would serve as a revolving facility to stir the housing and construction industry of the economy and create jobs in different sectors of the industry.</p><p class="NORMAL" style="text-align: justify; ">President Goodluck Jonathan, at a recent retreat for the Economic Management Team canvassed the support of the private sector in rejuvenating the economy particularly the housing industry by reducing the housing deficit.</p><p class="NORMAL" style="text-align: justify; ">The Minister of housing said the job creation model using home construction will create a value addition and synergy in construction industry as various industry sector operators such as dealers in sand, stone, cement, iron rod, plumbing, electrical and engineering would earn more income from such constructions, thus creating the much needed jobs.</p><p class="NORMAL" style="text-align: justify; ">Dangote offered to provide the money to stimulate job creation through the construction of houses on a build- sell-off and replenish basis.</p><p class="NORMAL" style="text-align: justify; ">The details and terms of the facilities are being worked out between the business mogul and the Federal Ministry of Housing and Environment so that the scheme could take off as soon as possible.</p><p class="NORMAL" style="text-align: justify; ">Alhaji Dangote has always expressed the belief that the future of the country and Africa in general is in the hands of the citizens as no foreigner could love the nation or the continent more than the citizens themselves.</p><p class="NORMAL" style="text-align: justify; ">He told a forum recently that he shared in the report of Mckinsey that only Africans can genuinely work towards the development of the continent hence the decision to spread his investment round African countries.</p><p class="COPYRIGHT">Copyright Daily Trust. 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height: 6px; "><div class="boxcorner_ll" style="float: left; margin-top: 5px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; width: 1px; height: 1px; background-color: rgb(252, 252, 252); "></div><div class="boxcorner_lr" style="float: right; margin-top: 5px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; width: 1px; height: 1px; background-color: rgb(252, 252, 252); "></div></div></div></div><div style="width: 350px; position: relative; padding-top: 4px; padding-right: 4px; padding-bottom: 4px; padding-left: 4px; "></div></div></td></tr></tbody></table>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-60524810215038285192011-11-06T14:55:00.000-08:002011-11-06T14:59:51.549-08:00The world’s richest men target Kenya with investment billions<div id="article_tools" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; 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margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><div id="ratingStars_1267050" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><div class="stars" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 60px; height: 12px; position: relative; top: -14px; left: 42px; background-image: url(http://www.businessdailyafrica.com/image/view/-/539358/lowRes/737/-/10vf1v1/-/starrow_white.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: initial initial; background-repeat: initial initial; "><div class="currentStars" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: absolute; height: 12px; left: 0px; background-image: url(http://www.businessdailyafrica.com/image/view/-/539354/lowRes/735/-/q2cca8/-/starrow.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; width: 0px; background-position: initial initial; background-repeat: initial initial; "></div></div></div></div></span></div><img class="photo_article" src="http://www.businessdailyafrica.com/image/view/-/1267052/highRes/307760/-/maxw/600/-/1qsvvkz/-/MILLIONAIRE.gif" alt="Mr. Mohamed Mansour (right), Executive, Mansour Group net worth: $2bn, Mr Aliko Dangote (left), net worth: $13.8bn, owner, Dangote Group, net worth:$1bn, Mr Ratan Tata (centre), Chairman, Tata group" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-color: initial; color: rgb(68, 68, 68); font-family: Tahoma, Geneva, sans-serif; font-size: 12px; background-color: rgb(255, 255, 255); " /><p id="photo_article_caption" style="margin-top: 5px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.5em; color: rgb(51, 51, 51); font-size: 11px; font-family: Tahoma, Geneva, sans-serif; background-color: rgb(255, 255, 255); ">Mr Aliko Dangote (left), net worth: $13.8bn, owner, Dangote Group, net worth:$1bn, Mr Ratan Tata (centre), Chairman, Tata group, Mr. Mohamed Mansour (right), Executive, Mansour Group net worth: $2bn, </p><div id="articlemeta" style="margin-top: 15px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 10px; font-weight: bold; color: rgb(153, 153, 153); font-family: Tahoma, Geneva, sans-serif; background-color: rgb(255, 255, 255); "><br /><br />Posted Thursday, November 3 2011 at 23:08</div><div id="article_text" style="margin-top: 15px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; color: rgb(51, 51, 51); font-family: 'Trebuchet MS', Helvetica, sans-serif; font-size: 14px; background-color: rgb(255, 255, 255); "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; "></p><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Five of the world’s richest men have pumped billions of shillings into the Kenyan economy in the last five years, confirming Nairobi’s position as East Africa’s investment hub.</p></div><div style="margin-top: 5px; margin-right: 5px; margin-bottom: 5px; margin-left: 5px; padding-top: 2px; padding-right: 2px; padding-bottom: 2px; padding-left: 2px; float: left; background-color: rgb(237, 237, 237); "><div class="wide_google_ads" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><div id="google_ads_div_BD_336x280_ad_container" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><ins style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 336px; height: 280px; display: inline-table; position: relative; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; "><ins style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 336px; height: 280px; display: block; position: relative; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; "><iframe id="google_ads_iframe_BD_336x280" name="google_ads_iframe_BD_336x280" width="336" height="280" scrolling="no" marginwidth="0" marginheight="0" frameborder="0" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; position: absolute; top: 0px; left: 0px; "></iframe></ins></ins></div></div></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Nigeria’s Aliko Dangote, India’s Mukesh Ambani, Ratan Tata and the Sanghi brothers and Egypt’s Mansour brothers top the list of the world’s tycoons and rich families whose companies have recently put billions of shillings in new investments or expansion of established businesses.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Much of the investments in key sectors of the economy — including manufacturing, automotive, energy, property and mining — have been made in the past three years of global economic turbulence, confirming the billionaires’ faith in Kenya’s resilience.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Investment analysts said Kenya’s key attraction lies in the promise of a large and growing consumer goods market of 130 million people that has come out of East Africa’s integration project.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">“These billionaires and their companies are moving into Africa’s frontier markets in search of growth opportunities and are seeing Kenya as a gateway to the continent’s consumer market,” said Sammy Onyango, the chief executive of advisory firm Deloitte East Africa.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Mr Onyango said Kenya’s growing middle class, a relatively skilled workforce and ongoing movement towards better governance under the new Constitution are key factors driving foreign investor confidence in the country.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Tata Group, chaired by Indian billionaire Ratan Tata, has lined up big ticket investments, targeting some of the most lucrative and capital-intensive segments of Kenya’s economy.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Mr Tata’s net worth is estimated at $1 billion (Sh100 billion) – a figure thought to be grossly understated by the fact that most of his wealth – about 65.8 per cent — is in the form of shares held in charitable trusts.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Mr Tata’s final months in office are expected to be marked by an aggressive investment in African frontier markets, including Kenya.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; "><strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-weight: bold; ">Pump billions</strong><br />Tata operates locally as Tata Africa and is scouting for investment opportunities in pharmaceuticals, ICT, steel, construction, energy, tourism and mining where it is preparing to pump billions of shillings in the medium term.</p></div><div style="margin-top: 3px; 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margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 50px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; height: 60px; position: static; left: 0px; top: 0px; visibility: visible; "></iframe></div></span></div><div class="clear" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; "></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; "></p><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><div class="clear" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; "></div></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; "></p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">“Tata Group has the financial capability to invest in a wide range of sectors so long as they present good business opportunities,” said Naresh Leekha, the executive director of Tata Africa.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">The firm has in the past four years invested $100 million (Sh10 billion) to set up a second plant at Magadi Soda – the soda ash mining company it acquired in 2006.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">It is also a major player in the motor vehicle market where it is competing in public transport, construction and commercial segments of the market with its Tata brand.</p></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 1.3em; ">Early this year, Tata announced plans to either buy a stake in one of the local motor assembly plants or establish its own assembly for pick-ups and light commercial trucks at a cost of up to Sh2 billion.</p></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-16499382517957221162011-11-06T14:54:00.000-08:002011-11-06T14:55:47.467-08:00Dangote, Jacobs, Genevieve, Yobo, Osita Iheme, 359 others make national honours lists<div class="fix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; 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margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">OCTOBER 28, 2011</span> · <span class="sword" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; 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background-origin: initial; background-clip: initial; background-color: transparent; "><div id="___plusone_0" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 1px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; height: 20px; width: 90px; display: inline-block; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; float: none; line-height: normal; "><iframe allowtransparency="true" frameborder="0" hspace="0" id="I1_1320620006691" marginheight="0" marginwidth="0" name="I1_1320620006691" scrolling="no" src="https://plusone.google.com/u/0/_/+1/fastbutton?url=http%3A%2F%2Fwww.vanguardngr.com%2F2011%2F10%2Fdangote-jacobs-genevieve-yobo-osita-iheme-359-others-make-national-honours-lists%2F&size=medium&count=true&annotation=&hl=en-US&jsh=r%3Bgc%2F25095437-ce843676#id=I1_1320620006691&parent=http%3A%2F%2Fwww.vanguardngr.com&rpctoken=715241790&_methods=onPlusOne%2C_ready%2C_close%2C_open%2C_resizeMe" tabindex="-1" vspace="0" width="100%" title="+1" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: 90px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; height: 20px; position: static; left: 0px; top: 0px; visibility: visible; "></iframe></div></span><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "></p><div class="entry_content" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0.3em; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 1.1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 1.6em; background-position: initial initial; background-repeat: initial initial; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">By Emmanuel Aziken, Political Editor and Benjamin Njoku<br />LAGOS — President Goodluck Jonathan has listed 364 Nigerians to receive the 2011 national honours. Business mogul Alhaji Aliko Dangote who topped the list with the award of Grand Commander of the Order of the Niger, GCON becomes the first individual outside government to receive the nation’s second highest national honour.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">The GCON has mostly been awarded to Vice-Presidents, Chief Justices of the country and Senate Presidents.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Dangote is ahead of Speaker Aminu Tambuwal who is getting a CFR, Commander of the Federal Republic alongside the Attorney General of the Federation, Mohammed Adoke and a number of military and security chiefs. The newly appointed Head of Service of the Federation, Alhaji Isa Sali, former First Lady Mrs. Victoria Gowon and a handful of former military chiefs were also recognized by the President for the CFR award.</p><div id="attachment_213124" class="wp-caption alignnone" style="margin-top: 0px; margin-right: auto; margin-bottom: 1em; margin-left: auto; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(247, 247, 247); border-right-style: solid; border-bottom-style: solid; border-right-color: rgb(233, 233, 233); border-bottom-color: rgb(233, 233, 233); border-left-style: solid; border-left-color: rgb(221, 221, 221); border-top-style: solid; border-top-color: rgb(221, 221, 221); text-align: center; border-top-left-radius: 3px 3px; border-top-right-radius: 3px 3px; border-bottom-right-radius: 3px 3px; border-bottom-left-radius: 3px 3px; max-width: 98%; width: 422px; "><img class="size-full wp-image-213124" title="Genevieve-yobo" src="http://vml1.s3.amazonaws.com/wp-content/uploads/2011/10/Genevieve-yobo.jpg" alt=" , , " width="412" height="250" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; max-width: 100%; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-color: initial; " /><p class="wp-caption-text" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 6px; padding-right: 3px; padding-bottom: 2px; padding-left: 3px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 11px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 16px; ">Ginevive Nnaji, Osita Iheme, Mariam Usman, Olu Jacobs, Kanayo O Kanayo, Aliko Dangote and Joseph Yobo</p></div><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "> </p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">A handful of serving and former members of the National Assembly including the Deputy Speaker of the House of Representatives, Chief Emeka Ihedioha, former Senator Joy Emodi, Senator Smart Adeyemi, Senator James Manager, Senator Uche Chukwumerije and Senator Udoma Udo Udoma were all recognized with the Commander of the Order of the Niger, CON.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Also a handful of serving ministers including Olusegun Aganga, Emeka Wogu, Godsday Orubebe, Diezani Allison Madueke and Dr. Usman Shamsudeen were also honoured with CON. Mr. Jim Ovia and Mr. Atedo Peterside two bankers were also honoured with the CONSTITUTION.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Nigeria’s first female vice-chancellor, Prof. Grace Alele-Williams is honoured with an Officer of the Federal Republic, OFR alongside a number of Chief Justices of the states including the erstwhile Deputy Speaker of the House of Representatives, Mr. Babangida Nguroje who resigned that position at the peak of the crisis in the House in 2007.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Nigeria’s football captain, Joseph Yobo, 1984 bronze medalist Peter Konyegachi and Commonwealth medalist Mariam Usman are also honoured with the Member of the Order of the Niger, MON.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Nollywood artistes were also honoured. Among them are Ginevive Nnaji, Stephanie Okereke, Olu Jacobs and Kanayo O Kanayo who are receiving the Member of the Federal Republic, MFR award.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Mr. Osita Iheme popularly known as Pawpaw of the Aki and Pawpaw fame is also honoured with MFR. Chinedu Ikedieze known as Aki was honoured last year.</p></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-51454197393631325522011-11-06T14:50:00.000-08:002011-11-06T14:52:27.302-08:00Nigerian Billionaire Aliko Dangote Gets Highest National Honor<div class="article_head" style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 13px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; position: relative; width: 620px; color: rgb(60, 60, 60); font-family: Verdana, Arial, sans-serif; line-height: 13px; "><hgroup><h1 style="margin-top: 9px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 42px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); font: normal normal normal 42px/48px Georgia, 'Times New Roman', serif; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.forbes.com/sites/mfonobongnsehe/2011/10/28/nigerian-billionaire-aliko-dangote-gets-highest-national-honor/#comment_reply" class="scroll_to post_first_comment" initialized="true" style="font-family: Verdana, Arial, sans-serif; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 10px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(146, 10, 18); text-decoration: none; font-weight: bold; line-height: 12px; ">+ Comment now</a></h1></hgroup></div><div id="leftRail" class="fleft clearfix article" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; 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margin-right: 5px; margin-bottom: 20px; margin-left: 20px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; float: right; width: 300px; "><a href="http://www.forbes.com/pictures/ehed45eede/aliko-dangote-3#content" class="iconoverlay bloggalleryicon" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; 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border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-color: rgb(241, 241, 241); border-right-color: rgb(241, 241, 241); border-bottom-color: rgb(241, 241, 241); border-left-color: rgb(241, 241, 241); max-width: 100%; " /><span class="icon date" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 4px; padding-right: 30px; padding-bottom: 5px; padding-left: 15px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 11px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(6, 158, 236); position: absolute; display: block; top: 14px; right: 5px; font: normal normal bold 11px/14px Verdana, sans-serif; text-shadow: rgb(5, 138, 208) 0px -1px 0px; color: rgb(255, 255, 255); text-decoration: none; cursor: pointer; background-position: initial initial; background-repeat: initial initial; ">see photos<b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: url(http://images.forbes.com/media/assets/universal/sprite.png); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; position: absolute; display: block; top: 5px; left: 79%; overflow-x: hidden; overflow-y: hidden; height: 12px; opacity: 1; width: 9px; background-position: -7px -78px; background-repeat: no-repeat no-repeat; "></b></span><span class="photocredit" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 1px; padding-right: 2px; padding-bottom: 1px; padding-left: 2px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 11px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(0, 0, 0); display: block; position: absolute; bottom: 10px; right: 0px; font: normal normal normal 11px/13px Arial, sans-serif; color: rgb(204, 204, 204); text-decoration: none; cursor: default; background-position: initial initial; background-repeat: initial initial; ">Forbes Images</span></a><p class="wp-caption-text" style="margin-top: 4px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 5px; padding-bottom: 0px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(51, 51, 51); line-height: 24px; font-family: Georgia, 'Times New Roman', serif; word-wrap: break-word; font: normal normal normal 11px/15px Verdana, Arial, sans-serif; "><a href="http://www.forbes.com/pictures/ehed45eede/aliko-dangote-3#content" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(51, 51, 51); font: normal normal normal 11px/15px Verdana, Arial, sans-serif; ">Click for full photo gallery: Aliko Dangote</a></p></div><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); line-height: 24px; font-family: Georgia, 'Times New Roman', serif; word-wrap: break-word; background-position: initial initial; background-repeat: initial initial; "><a href="http://www.forbes.com/profile/aliko-dangote/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(15, 45, 95); ">Aliko Dangote</a>, Africa’s richest man and the first Nigerian to debut on the FORBES <a href="http://www.forbes.com/wealth/billionaires" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(15, 45, 95); ">World’s Billionaires list</a>, is to be conferred with the Nigerian national award of Grand Commander of the Order of the Niger, (GCON), the government announced Thursday.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); line-height: 24px; font-family: Georgia, 'Times New Roman', serif; word-wrap: break-word; background-position: initial initial; background-repeat: initial initial; ">The award is the country’s second highest national honor, after the Grand Commander of the Federal Republic (GCFR) – an award which is only reserved for Nigerian Presidents and Heads of state. Dangote becomes the first individual outside government to receive the nation’s second highest national honor. In the past, the GCON has only been awarded to Vice-Presidents, Chief Justices of the country and Senate Presidents.</p><aside class="vestpocket" position="4" style="width: 175px; float: left; margin-top: 8px; margin-right: 20px; margin-bottom: 1px; margin-left: 0px; overflow-x: visible; overflow-y: visible; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); position: relative; padding-bottom: 20px; border-top-width: 5px; border-top-style: solid; border-top-color: rgb(239, 239, 239); z-index: 1; border-top-left-radius: 0px 0px; border-top-right-radius: 0px 0px; border-bottom-right-radius: 5px 5px; border-bottom-left-radius: 5px 5px; "><div class="box gallery" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 20px; padding-right: 0px; padding-bottom: 20px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 5px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; position: relative; width: 175px; border-bottom-style: solid; border-bottom-color: rgb(239, 239, 239); "><a href="http://www.forbes.com/pictures/ehed45keh/ory-okolloh-%e2%80%93-kenyan-co-founder-ushahidi" class="thumb" style="margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 0px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-decoration: none; line-height: 0; font-family: Georgia, 'Times New Roman', serif; position: relative; display: block; "><span class="num_images" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 2px; padding-right: 6px; padding-bottom: 2px; padding-left: 6px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 10px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(6, 158, 236); display: block; font-family: Verdana, Arial, sans-serif; font-weight: bold; line-height: 13px; position: absolute; bottom: 0px; left: 0px; color: rgb(255, 255, 255); background-position: initial initial; background-repeat: initial initial; ">18 images<span class="icon" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "></span></span><img src="http://specials-images.forbes.com/imageserve/05fK5tSe65aUj/176x176.jpg?fit=scale&background=FFFFFF" alt="" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; max-width: 175px; -webkit-box-shadow: rgb(184, 184, 184) 1px 1px 6px; box-shadow: rgb(184, 184, 184) 1px 1px 6px; " /></a><a href="http://www.forbes.com/pictures/ehed45keh/ory-okolloh-%e2%80%93-kenyan-co-founder-ushahidi" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 21px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-decoration: none; line-height: 24px; font-family: Georgia, 'Times New Roman', serif; "><span class="label" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-style: italic; ">Photos: </span>The 20 Youngest Power African Women</a></div><div class="box article" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 20px; padding-right: 0px; padding-bottom: 20px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 5px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; position: relative; width: 175px; border-bottom-style: solid; border-bottom-color: rgb(239, 239, 239); "><a href="http://www.forbes.com/sites/mfonobongnsehe/2011/10/10/the-billionaire-whos-squandering-his-wealth-on-african-leaders/" class="thumb" style="margin-top: 0px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 0px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-decoration: none; line-height: 0; font-family: Georgia, 'Times New Roman', serif; position: relative; display: block; max-height: 175px; overflow-x: hidden; overflow-y: hidden; "><span class="icon" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "></span><img src="http://blogs-images.forbes.com/thumbnails/blog_1410/pt_1410_903_o.jpg?t=1318271518" alt="" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; max-width: 175px; -webkit-box-shadow: rgb(184, 184, 184) 1px 1px 6px; box-shadow: rgb(184, 184, 184) 1px 1px 6px; " /></a><a href="http://www.forbes.com/sites/mfonobongnsehe/2011/10/10/the-billionaire-whos-squandering-his-wealth-on-african-leaders/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 21px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-decoration: none; line-height: 24px; font-family: Georgia, 'Times New Roman', serif; ">The Billionaire Who's Squandering His Wealth On African Leaders</a><div class="box_byline" style="margin-top: 10px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 10px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(102, 102, 102); background-position: initial initial; background-repeat: initial initial; "><a class="avatar" href="http://blogs.forbes.com/mfonobongnsehe/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 21px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-decoration: none; line-height: 24px; font-family: Georgia, 'Times New Roman', serif; font: normal normal bold 10px/normal Verdana; display: block; "><img src="http://blogs-images.forbes.com/cache/gravatars/mfonobongnsehe_40.jpg" alt="Mfonobong Nsehe" style="margin-top: 0px; margin-right: 5px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; max-width: 100%; height: 20px; width: 20px; display: block; position: relative; top: 3px; float: left; " /></a><a href="http://blogs.forbes.com/mfonobongnsehe/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; font-size: 21px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); text-decoration: none; line-height: 24px; font-family: Georgia, 'Times New Roman', serif; font: normal normal bold 10px/normal Verdana; display: block; ">Mfonobong Nsehe</a><span class="desc" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Contributor</span></div></div></aside><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); line-height: 24px; font-family: Georgia, 'Times New Roman', serif; word-wrap: break-word; background-position: initial initial; background-repeat: initial initial; ">Meanwhile, Nigeria’s other billionaire, <a href="http://www.forbes.com/profile/mike-adenuga/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(15, 45, 95); ">Mike Adenuga,</a> was not nominated for a national award this year. His exclusion from the list may or may not be connected to the fact that in August he was charged by the Senate with bribery; it was revealed that several years ago he offered bribes to a Nigerian public official to undervalue a government-owned oil company which he eventually acquired at a fraction of its real market value. Adenuga did not deny the charges at the time; his office refused to comment on the matter. However, there was no apparent punishment as a result of the charges. (Read about the story <a href="http://www.forbes.com/saharareporters.com/news-page/mike-adenuga-gave-me-bribes-naira-and-dollars-undervalue-national-oil-conoil-during-privat?page=3" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(15, 45, 95); ">here</a>). Adenuga currently holds the national honor of Commander of the Order of the Niger, (CON) nevertheless.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); line-height: 24px; font-family: Georgia, 'Times New Roman', serif; word-wrap: break-word; background-position: initial initial; background-repeat: initial initial; ">Dangote’s GCON award is in recognition of the immense contributions he has made to the economic development of Nigeria. Dangote famously took a business loan from his maternal uncle over 30 years ago and went on to build one of Africa’s largest industrial conglomerates- the <a href="http://dangote-group.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(15, 45, 95); ">Dangote Group</a>, which has extensive interests in cement, flour, sugar, oil & gas and beverages. The company currently employs a workforce of over 20,000 people spread across about 11 African countries.</p><p style="margin-top: 15px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 0, 0); line-height: 24px; font-family: Georgia, 'Times New Roman', serif; word-wrap: break-word; background-position: initial initial; background-repeat: initial initial; ">Follow me on Twitter <strong style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">@<a href="http://twitter.com/EmperorDIV" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: initial; outline-style: none; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(15, 45, 95); ">EmperorDIV</a></strong></p></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-51136828881753811212011-11-06T14:48:00.000-08:002011-11-06T14:50:11.053-08:00National Salt of Nigeria Rises to 3-Week High as Profit Jumps<div id="story-body" class="clearfix" style="margin-top: 10px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 609px; word-wrap: break-word; color: rgb(51, 51, 51); font-family: Helvetica, Arial, sans-serif; font-size: 10px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><h1 style="margin-top: 0px; margin-right: 0px; margin-bottom: 6px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 2.8em; line-height: 1.2em; "><span class="Apple-style-span" style="color: rgb(102, 102, 102); font-size: 12px; font-weight: normal; 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margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 13px; line-height: 1.5em; clear: none; color: rgb(102, 102, 102); "><cite style="display: block; ">By Vincent Nwanma</cite></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">Oct. 31 (Bloomberg) -- National Salt Co. Nigeria Plc, a manufacturer of the condiment, rose to a more than three-week high after reporting a 33 percent increase in nine-month profit.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">The stock gained 2.3 percent to 4 naira by the 2:30 p.m. close in Lagos, the highest since Oct. 7.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">Net income rose to 1.36 billion naira ($9 million) for the period through September, from 1.02 billion naira a year earlier, the company said in a statement published on the website of the Nigerian Stock Exchange today.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">National Salt shares have fallen 30 percent this year, compared with the Nigerian Stock Exchange All-Share Index’s 17 percent decline over the same period.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">--Editors: Ana Monteiro, Karl Maier</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">To contact the reporter on this story: Vincent Nwanma in Lagos at vnwanma@bloomberg.net.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.</p></div><div id="social-tools-bottom-container" style="margin-top: 10px; margin-right: 0px; margin-bottom: 30px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; height: 70px; color: rgb(51, 51, 51); font-family: Helvetica, Arial, sans-serif; font-size: 10px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><div class="social-tools" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: auto; float: none; "><ul class="big-four" style="margin-top: 10px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 35px; padding-left: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(204, 204, 204); "></ul></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-45789397619728892492011-11-06T14:46:00.000-08:002011-11-06T14:48:04.583-08:00Dangote Sugar of Nigeria Falls to Record as Profit Dropped 49%<div id="story-body" class="clearfix" style="margin-top: 10px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 609px; word-wrap: break-word; color: rgb(51, 51, 51); font-family: Helvetica, Arial, sans-serif; font-size: 10px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><h1 style="margin-top: 0px; margin-right: 0px; margin-bottom: 6px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 2.8em; line-height: 1.2em; "><span class="Apple-style-span" style="color: rgb(102, 102, 102); font-size: 12px; font-weight: normal; line-height: 20px; ">November 02, 2011, 8:09 AM EDT</span></h1><div id="social-tools-top-container" style="margin-top: 10px; 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text-decoration: none; ">South African Stocks: Abil, Amplats, Basil Read, BHP, Foschini</a></li><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.2em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; list-style-type: none; list-style-position: outside; list-style-image: initial; font-size: 1.2em; font-weight: bold; "><a href="http://www.businessweek.com/news/2011-11-03/world-food-prices-slide-most-in-19-months-as-grains-slump.html" style="color: rgb(6, 69, 153); text-decoration: none; ">World Food Prices Slide Most in 19 Months as Grains Slump</a></li></ul></div></div><p class="partner" style="margin-top: 0px; margin-right: 0px; margin-bottom: 15px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 13px; line-height: 1.5em; clear: none; color: rgb(102, 102, 102); "><cite style="display: block; ">By Vincent Nwanma</cite></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">Nov. 2 (Bloomberg) -- Dangote Sugar Refinery Plc, Nigeria’s biggest producer of the sweetener by market value, fell to the weakest on record after reporting a 49 percent drop in nine- month profit.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">The stock lost 4.9 percent to 5.40 naira by 12:27 p.m. in Lagos, Nigeria’s commercial capital. A close at this price will be its lowest since March 2007, when the shares started trading.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">Net income retreated to 4.4 billion naira ($28 million) in the nine months through September from 8.57 billion naira a year earlier, the company said in a statement published on the website of the bourse yesterday.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">“The poor earnings were spurred by higher rebates management may have granted to its key clients and distributors as an incentive for higher purchase volumes,” Bunmi Njugo, a Lagos-based analyst with Stanbic IBTC Bank Plc, wrote today in a note e-mailed to clients.</p><p class="indent" style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">Higher raw-sugar prices also increased the company’s costs, she said. International sugar prices rose 8.2 percent in the first six months of the year. Dangote imports about 95 percent of its raw materials, according to Njugo.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">--Editors: Ana Monteiro, Peter Branton</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">To contact the reporter on this story: Vincent Nana in Lagos at vnwanma@bloomberg.net.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 1.4em; line-height: 1.5em; clear: left; ">To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net</p></div><div id="social-tools-bottom-container" style="margin-top: 10px; margin-right: 0px; margin-bottom: 30px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; height: 70px; color: rgb(51, 51, 51); font-family: Helvetica, Arial, sans-serif; font-size: 10px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><div class="social-tools" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: auto; float: none; "><ul class="big-four" style="margin-top: 10px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 35px; padding-left: 0px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(204, 204, 204); "></ul></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-199792228543725052011-11-06T14:44:00.000-08:002011-11-06T14:46:47.855-08:00Dangote cement in $2.5 bln Africa expansion plans<h1 style="font-family: arial, helvetica, sans; font-size: 30px; color: rgb(70, 70, 70); border-bottom-style: none; line-height: 1; margin-top: 0px; margin-bottom: 6px; margin-right: 0px; margin-left: -1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><br /></h1><div class="timestampHeader" style="font-size: 11px; color: rgb(85, 85, 85); margin-bottom: 0px; float: left; padding-left: 1px; ">Wed Nov 2, 2011 3:04pm GMT</div><div id="headerTools" style="font-size: 11px; font-weight: bold; float: right; position: relative; color: rgb(153, 153, 153); "> </div><div id="atools" class="articleTools" style="clear: both; float: left; width: 490px; padding-top: 1px; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(204, 204, 204); margin-top: 6px; margin-right: 0px; margin-bottom: 14px; margin-left: 0px; "><div id="autilities" class="articleUtilities" style="color: rgb(156, 170, 217); float: left; font-size: 13px; padding-top: 2px; padding-bottom: 2px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; width: auto; "><a id="toolPrint" href="http://af.reuters.com/articlePrint?articleId=AFL5E7M23JT20111102" target="printPopup" style="color: rgb(0, 90, 132); text-decoration: none; font-size: 11px; background-image: url(http://af.reuters.com/resources/images/iconPrint.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; padding-left: 14px; background-position: 0% 50%; background-repeat: no-repeat no-repeat; ">Print</a> | <a id="toolSingle" href="http://af.reuters.com/article/commoditiesNews/idAFL5E7M23JT20111102" style="color: rgb(0, 90, 132); text-decoration: none; font-size: 11px; background-image: url(http://af.reuters.com/resources/images/iconSingle.gif); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; padding-left: 11px; background-position: 0% 50%; background-repeat: no-repeat no-repeat; ">Single Page</a></div><div class="articleTextSizerFull" id="textSizer" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 12px; padding-top: 4px; padding-right: 3px; padding-bottom: 0px; padding-left: 0px; float: right; text-align: center; font-size: 11px; color: rgb(153, 153, 153); ">[<a href="http://af.reuters.com/article/commoditiesNews/idAFL5E7M23JT20111102" class="control" style="color: rgb(102, 102, 102); text-decoration: none; display: inline; padding-left: 1px; padding-right: 1px; ">-</a>] <a href="http://af.reuters.com/article/commoditiesNews/idAFL5E7M23JT20111102" style="color: rgb(102, 102, 102); text-decoration: none; display: inline; padding-left: 1px; padding-right: 1px; ">Text</a> [<a href="http://af.reuters.com/article/commoditiesNews/idAFL5E7M23JT20111102" class="control" style="color: rgb(102, 102, 102); text-decoration: none; display: inline; padding-left: 1px; padding-right: 1px; ">+</a>]</div></div><div class="linebreak" style="clear: both; height: 1px; overflow-x: hidden; overflow-y: hidden; margin-top: -1px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-size: 1px; "></div><div id="resizeableText" style="overflow-x: hidden; overflow-y: hidden; margin-top: 12px; font-size: 13px; "><span id="midArticle_start" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><span class="articleLocation">LAGOS</span> Nov 2 (Reuters) - Nigeria's Dangote Cement said on Wednesday it planned to spend around $2.5 billion building manufacturing plants and import terminals across Africa to build a further 19 metric tonnes capacity across Africa, part of its plan to build a pan-African cement empire.<span id="midArticle_byline"></span></p><span id="midArticle_0" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">It added that in its domestic Nigerian market it had achieved a production capacity of 19 metric tonnes in 2011 and expected to increase that to 29 metric tonnes by 2015. (Reporting by Chijioke Ohuocha; Writing by Tim Cocks)</p><div><br /></div><span id="midArticle_1" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-40723143941266910772011-11-06T14:42:00.000-08:002011-11-06T14:44:13.362-08:00Dangote Cement’s 9-Month Profit Rises 23% on Expansion<div id="story_head" class="clearfix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Arial, Helvetica, sans-serif; line-height: 14px; text-align: -webkit-auto; background-repeat: no-repeat no-repeat; "><h1 class="disqus_title" style="margin-top: 0px; margin-right: 0px; margin-bottom: 12px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 30px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; clear: both; line-height: 1.3em; background-position: initial initial; background-repeat: no-repeat no-repeat; "><span class="Apple-style-span" style="font-size: 9px; font-weight: normal; line-height: 14px; ">Q</span></h1><div id="story_meta" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-repeat: no-repeat no-repeat; "><cite class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 11px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; width: 640px; color: rgb(111, 111, 111); display: block; font-style: normal; line-height: 1.3em; background-position: initial initial; background-repeat: initial initial; ">By Vincent Nwanma - <span class="datestamp" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Nov 2, 2011 12:01 PM CT</span></cite></div></div><div id="story_content" class="clearfix" style="margin-top: 0px; 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margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; "><a topic_url="http://topics.bloomberg.com/dangote-cement-plc/" href="http://www.bloomberg.com/apps/quote?ticker=DANGCEM:NL" density="sparse" title="Get Quote" ticker="DANGCEM:NL" class="web_ticker" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">Dangote Cement Plc (DANGCEM)</a>, <a href="http://topics.bloomberg.com/africa/" density="full" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">Africa</a>’s biggest producer of the building material, posted a 23 percent increase in nine-month profit as cement sales rose.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">Net income in the nine months to Sept. 30 rose to 92.8 billion naira ($589 million), or 7.97 naira per share, from 75.3 billion naira, or 5 naira a share, a year earlier, the Lagos- based company said in an e-mailed statement today. Revenue climbed 19 percent to 173.8 billion naira as cement sales advanced 9.2 percent to 6.4 million metric tons, it said.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">“The result was driven by growth in volume, which rose more than we had expected at Obajana plant, and a 3 percent increase in cement prices,” Tomi Ajayi, an analyst with <a topic_url="http://topics.bloomberg.com/stanbic-ibtc-bank-plc/" href="http://www.bloomberg.com/apps/quote?ticker=IBTCCB:NL" density="sparse" title="Get Quote" ticker="IBTCCB:NL" class="web_ticker" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">Stanbic IBTC Bank Plc (IBTCCB)</a> in Lagos, said in an interview. Stanbic had forecast a 9 percent rise in net income, she said.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">Dangote, which is also Nigeria’s biggest company by market value, is spending more than $2.5 billion on eight new plants across Africa as well as constructing cement import terminals in five countries. By the end of this year it expects to have production capacity of 19 million tons in Nigeria, rising to 29 million tons in 2015. A further 19 million tons of capacity is planned in plants across the continent by 2015.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">“Dangote Cement is highly optimistic about the future given the increasingly strong economic performance of Nigeria and the African countries into which it is expanding,” the company said.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 20px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.3em; background-repeat: no-repeat no-repeat; ">Nigerian Growth</h2><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; "><a href="http://topics.bloomberg.com/nigeria/" density="sparse" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">Nigeria</a>’s economy expanded at an annual rate of 7.7 percent in the second quarter, the company said. Dangote Cement’s full year revenue is expected to be 238 billion naira and operating profit of 124 billion naira.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">The Ibese plant in Ogun, in southwest Nigeria will have capacity of 6 million tons by the end of the year and will be twice that size in 2015.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">At Obajana in central Nigeria, where the plant is being expanded to double output to 10 million tons, the facilities are “being readied for production,” Dangote said. Expansion at the Gboko plant in central Benue state is expected to begin in the second half of 2012 and planned upgrades will deliver additional 1 million tons.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">In <a href="http://topics.bloomberg.com/senegal/" density="sparse" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">Senegal</a>, construction of the plant is scheduled to be completed in the first quarter of 2012, while production will begin in the second quarter, Dangote Cement said.</p><h2 style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 20px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 18px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.3em; background-repeat: no-repeat no-repeat; ">London Listing</h2><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">The company “may list on the London Stock Exchange sometime next year,” Executive Officer Devakumar Edwin said on a conference call from Lagos. The company is not in a “hurry” to do so, as it wants to consolidate its expansion into African countries, he said.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">The company’s stock fell 5.01 naira, or 4.6 percent, by the close in Lagos, giving it a market value of 1.6 trillion naira. Dangote Cement has declined 14 percent this year compared with an 18 percent decline in Nigeria’s benchmark index.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">The fall in price may have been because some investors were disappointed that Dangote failed to pay a dividend for the nine months, as it did last year, Ajayi said. “This could be a reason for the sell-off, but it is unclear that this will be sustained.”</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">To contact the reporter on this story: Vincent Nwanma in Lagos at <a href="mailto:vnwanma@bloomberg.net" title="Send E-mail" density="mailto" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">vnwanma@bloomberg.net</a></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 10px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 15px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; font-family: Arial; line-height: 1.6em; ">To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at<a href="mailto:asguazzin@bloomberg.net" title="Send E-mail" density="mailto" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; color: rgb(0, 51, 204); text-decoration: none; background-repeat: no-repeat no-repeat; ">asguazzin@bloomberg.net</a>.</p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-25008864766864201972011-11-06T14:40:00.000-08:002011-11-06T14:42:02.941-08:00Nigeria's Dangote Cement pre-tax profit up 22 pct<h1 style="font-family: arial, helvetica, sans; font-size: 30px; color: rgb(70, 70, 70); border-bottom-style: none; line-height: 1; margin-top: 0px; margin-bottom: 6px; margin-right: 0px; margin-left: -1px; border-top-style: none; border-right-style: none; border-left-style: none; border-width: initial; border-color: initial; "><br /></h1><div class="timestampHeader" style="font-size: 11px; color: rgb(85, 85, 85); margin-bottom: 0px; float: left; padding-left: 1px; ">Wed Nov 2, 2011 5:22pm GMT</div><div id="headerTools" style="font-size: 11px; font-weight: bold; float: right; position: relative; color: rgb(153, 153, 153); "> </div><div id="atools" class="articleTools" style="clear: both; float: left; width: 490px; padding-top: 1px; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(204, 204, 204); margin-top: 6px; margin-right: 0px; margin-bottom: 14px; margin-left: 0px; "><div id="autilities" class="articleUtilities" style="color: rgb(156, 170, 217); float: left; font-size: 13px; padding-top: 2px; padding-bottom: 2px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; 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margin-right: 0px; margin-bottom: 0px; margin-left: 12px; padding-top: 4px; padding-right: 3px; padding-bottom: 0px; padding-left: 0px; float: right; text-align: center; font-size: 11px; color: rgb(153, 153, 153); ">[<a href="http://af.reuters.com/article/investingNews/idAFJOE7A10KT20111102" class="control" style="color: rgb(102, 102, 102); text-decoration: none; display: inline; padding-left: 1px; padding-right: 1px; ">-</a>] <a href="http://af.reuters.com/article/investingNews/idAFJOE7A10KT20111102" style="color: rgb(102, 102, 102); text-decoration: none; display: inline; padding-left: 1px; padding-right: 1px; ">Text</a> [<a href="http://af.reuters.com/article/investingNews/idAFJOE7A10KT20111102" class="control" style="color: rgb(102, 102, 102); text-decoration: none; display: inline; padding-left: 1px; padding-right: 1px; ">+</a>]</div></div><div class="linebreak" style="clear: both; height: 1px; overflow-x: hidden; overflow-y: hidden; margin-top: -1px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-size: 1px; "></div><div id="resizeableText" style="overflow-x: hidden; overflow-y: hidden; margin-top: 12px; font-size: 13px; "><span id="midArticle_start" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><div class="inlineRelatedContent" style="float: left; margin-right: 12px; width: 192px; "><table cellpadding="0" cellspacing="0" border="0" style="float: left; "><tbody><tr><td id="articlePhoto" valign="middle" align="center" class="articlePhoto" style="width: 192px; height: 155px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(240, 240, 240); background-position: initial initial; background-repeat: initial initial; "><a href="http://af.reuters.com/article/investingNews/idAFJOE7A10KT20111102" style="color: rgb(0, 90, 132); text-decoration: none; "><img src="http://af.reuters.com/resources/r/?m=02&d=20111102&t=2&i=526195956&w=&fh=&fw=&ll=192&pl=155&r=AJOE7A116J900" border="0" alt="A construction worker polishes a cement wall on a building site in north London August 17, 2011. REUTERS/Suzanne Plunkett" title="A construction worker polishes a cement wall on a building site in north London" /></a></td></tr></tbody></table><div class="inlineSlideControls" style="float: left; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(229, 242, 251); padding-top: 2px; padding-right: 0px; padding-bottom: 2px; padding-left: 0px; margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; width: 192px; border-top-width: 1px; border-top-style: solid; border-top-color: rgb(204, 204, 204); position: relative; background-position: initial initial; background-repeat: initial initial; "><span id="slideshowStatus" style="display: inline; position: relative; float: left; font-size: 10px; margin-top: 4px; margin-right: 2px; margin-bottom: 4px; margin-left: 4px; line-height: 0.8; color: rgb(51, 51, 51); ">1 of 1</span><span id="slideshowLaunch" style="display: inline; position: relative; float: right; font-size: 11px; font-weight: bold; margin-top: 3px; margin-right: 3px; margin-bottom: 3px; margin-left: 3px; line-height: 0.8; "><a href="http://af.reuters.com/article/investingNews/idAFJOE7A10KT20111102" style="color: rgb(0, 90, 132); text-decoration: none; ">Full Size</a></span></div></div></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><span class="articleLocation">LAGOS</span> (Reuters) - Nigeria's biggest listed company, Dangote Cement, said on Wednesday its pre-tax profit rose 22 percent to 93.9 billion Nigerian naira in the first nine months of the year to September.<span id="midArticle_byline"></span></p><span id="midArticle_0" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">In a statement, the cement producer also said it expected revenues of 238 billion naira by the end of the full year, with 124 billion naira in operating profit.</p><span id="midArticle_1" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">It said it planned to spend around $2.5 billion constructing manufacturing plants and import terminals across Africa to build a further 19 metric tonnes capacity, part of its plan to build a pan-African cement empire stretching from Senegal to Ethiopia.</p><span id="midArticle_2" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">"Sub-Saharan Africa continues to enjoy strong and sustainable growth and remains an attractive market for capital investment, particularly for infrastructure development," Chief Executive Devakumar Edwin said.</p><span id="midArticle_3" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">"With our strategic goal to build substantial new capacity in Africa's growth economies, Dangote Cement is well on its way to becoming one of the leading cement producers in the world," Edwin said.</p><span id="midArticle_4" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">He added that in its domestic Nigerian market it had achieved production capacity of 19 metric tonnes in 2011 and expected to increase that to 29 metric tonnes by 2015.</p><span id="midArticle_5" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">"Dangote Cement is committed to increasing production as quickly as possible in order to achieve its aim of helping Nigeria become self-sufficient in cement," the statement said.</p><span id="midArticle_6" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span><p style="font-family: verdana, helvetica, sans; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); ">It added that it had plans to expand into a further 12 African countries, with a plant in Senegal expected to start production in the first half of 2012.</p><div><br /></div><span id="midArticle_7" style="font-family: arial, helvetica, sans; line-height: 15px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "></span></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-28997521646607549822011-11-06T14:39:00.000-08:002011-11-06T14:40:44.214-08:00Dangote Cement makes N98.3b profit<h1 class="page_title" style="padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; margin-top: 10px; margin-right: 0px; margin-bottom: 10px; margin-left: 0px; font-size: 30px; font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255); "><span class="Apple-style-span" style="color: rgb(119, 119, 119); font-size: 12px; font-weight: normal; ">By</span><span class="Apple-style-span" style="color: rgb(119, 119, 119); font-size: 12px; font-weight: normal; "> </span><span class="story_author" style="color: rgb(119, 119, 119); font-size: 12px; "><a href="http://www.thenationonlineng.net/2011/index.php/author/Rilwan/" style="color: rgb(0, 128, 64); text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; ">Victor Oluwasegun and Dele Anofi, Abuja</a></span><span class="Apple-style-span" style="color: rgb(119, 119, 119); font-size: 12px; font-weight: normal; "> </span><span class="story_date" style="color: rgb(119, 119, 119); font-weight: normal; font-size: 11px; padding-left: 5px; ">03/11/2011 00:00:00</span></h1><div class="font_size" style="font-size: 11px; text-align: right; margin-bottom: 12px; font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255); ">Font size: <a href="http://www.thenationonlineng.net/2011/index.php/business/25045-dangote-cement-makes-n98-3b-profit.html" style="color: rgb(0, 128, 64); text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; "><img alt="Decrease font" border="0" src="http://www.thenationonlineng.net/2011/themes/default/img/font_decrease.gif" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; vertical-align: bottom; padding-left: 3px; " /></a> <a href="http://www.thenationonlineng.net/2011/index.php/business/25045-dangote-cement-makes-n98-3b-profit.html" style="color: rgb(0, 128, 64); text-decoration: none; outline-style: none; outline-width: initial; outline-color: initial; "><img alt="Enlarge font" border="0" src="http://www.thenationonlineng.net/2011/themes/default/img/font_enlarge.gif" style="border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; vertical-align: bottom; padding-left: 3px; " /></a></div><div id="article_body" style="font-size: 14px; line-height: 1.6em; width: 600px; overflow-x: hidden; overflow-y: hidden; margin-bottom: 12px; font-family: Arial, Helvetica, sans-serif; background-color: rgb(255, 255, 255); "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-size: small; font-family: georgia, palatino; ">Shareholders of Dangote </span><span style="font-size: small; font-family: georgia, palatino; ">Cement Plc (DCP) have an</span><span style="font-size: small; font-family: georgia, palatino; "> nounced a gross profit of N98.30 billion for the third quarter of te year which ended on September 30, 2011.</span><br /><span style="font-size: small; font-family: georgia, palatino; "></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-size: small; font-family: georgia, palatino; ">This indicates an increase of N18.7 billion over the N79.63 billion posted in the corresponding period of the previous year.</span><br /><span style="font-size: small; font-family: georgia, palatino; "></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-size: small; font-family: georgia, palatino; ">The results approved by the Council of the Nigerian Stock Exchange (NSE) showed that the firm posted a turnover of N173.84 billion in the review period in contrast to N146.56 billion at the corresponding period in the preceding year. This depicts a N27.28 billion increase.</span><br /><span style="font-size: small; font-family: georgia, palatino; "></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-size: small; font-family: georgia, palatino; ">Dangote Sugar posted a profit before tax of N6.5 billion, indicating a drop of 49 per cent over the N12.6billion recorded in the previous year. Post-tax profit also dipped by 49 per cent, from N8.6billion to N4.4billion. </span><br /><span style="font-size: small; font-family: georgia, palatino; "></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-size: small; font-family: georgia, palatino; ">The company’s turnover however, rose by 22.1 per cent, from N65.2billion to N79.6 billion. </span><br /><span style="font-size: small; font-family: georgia, palatino; ">The drop in profitability was attributed to the increase in price of raw sugar in the international market, which has impacted negatively on the performance of sugar companies in the country.</span><br /><span style="font-size: small; font-family: georgia, palatino; "></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 10px; padding-left: 50px; "><span style="font-size: small; font-family: georgia, palatino; ">With the introduction of a new retail Dangote Vitamin A fortified sugar package in one kilogramme, 500 grams and 250 grammes, the Management said it “strongly believes that the high activity expected in the retail market will boost the company’s activities by impacting positively on the sales volume, earnings and ultimately profitability.”</span></p></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-81659032509498435032011-11-06T14:36:00.000-08:002011-11-06T14:39:22.248-08:00Questions on Dangote’s GCON<div class="entry_wrap fix" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 255); font-family: Georgia, 'Times New Roman', Times, serif; line-height: 22px; text-align: -webkit-auto; "><div class="entry_content" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0.3em; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 1.1em; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; line-height: 1.6em; background-position: initial initial; background-repeat: initial initial; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; "><br />By Ochereome Nnanna<br />FOR sure, Alhaji Aliko Dangote is an extraordinary Nigerian. He is the richest African in recorded modern history. Just about three years ago, he was estimated by Forbes (first time a Nigerian was making it to the charmed circle of 400 richest men in the world) as worth a little over US$3 billion. Dangote disputed the figure, stressing that he was worth over five billion.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">In March this year, Forbes upgraded Dangote’s rating to nearly US$14 billion. His business surged 557 per cent within the past one year, thus breasting the tape as the world’s biggest gainer.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Dangote is mainly into sugar, flour and cement. In fact, in those fields of manufacturing and importation, he is a virtual or absolute monopolist. His group controls about one quarter of the value of the Nigerian Stock Exchange, NSE. Dangote is easily the private sector’s largest employer of labour. I don’t know how well he pays his staff, but I hardly hear his labour force going on strike or threatening to do so. Dangote’s wealth is made in Nigeria through mainly manufacturing efforts. He is not like the others who looted government treasuries and hid their monies in foreign banks where they serve the interests of foreign powers at the expense of Nigerians.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">While many other indigenous (and even foreign multinationals) have gone under or bolted from the country as a result of the harsh operating climate, Dangote continues to grow from strength to strength. I am sure, every morning, Aliko Dangote wakes up humming TY Bello’s inspiring Nigeria patriotic song: The Land Is Green. This is a man who made his wealth in an environment devoid of public power supply, with roads and infrastructure all but collapsed, little support from the agricultural and mining sectors to feed his factories with raw materials; a man who grew fat in a land that famished his co-travellers.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">It was for these and so many other attributes that the President Goodluck Jonathan Federal Government has nominated him for the award of Grand Commander of the Order of the Niger, GCON, the highest national honour ever bestowed on a “civilian” (non-occupant of governmental office). And so, wherein lies my questions on this award?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Let me clear the air. I am not questioning the award per se. I am only expressing my reservations about the man’s rise to fame and how he has used his wealth to touch the lives of the ordinary Nigerian, or failed to do so. Many will not easily forget that it was while Dangote and others were controlling the affairs of the NSE that many struggling Nigerians lost over three trillion naira of their life’s savings after investing in stocks and shares (some for the first time in their lives).</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">While paid workers, retirees, traders and pensioners had their investment up in flames after falling prey to the hype to invest in shares, Dangote’s outfits ( which issued Initial Public Offers many times over) came out of that situation launching their president among the richest men in the world. Perhaps you cannot blame Dangote for successfully taking advantage of an opportunity. Still, millions of Nigerians suffered untold hurt and some have gone to their early graves.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Secondly, Dangote is seen as a government-made billionaire. More than any other Nigerian entrepreneur, his group is reputed as having enjoyed generous Federal Government freebies, such as waivers and uncommonly favourable terms that drove co-competitors out of the market. The controlling power Dangote wields over cement, sugar and flour puts Nigerians at the mercy of its pricing mechanism. It required a presidential ultimatum for Dangote to crash the prices of its cement products from N2,500 to N1,500 in May this year, only for the product to skyrocket again to N2,800 in August in parts of the Lagos metropolis.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Quite apart from what is seen as unusual government favouritism to his businesses, Dangote, the multi-billionaire, is not a household name in the area of Corporate Social Responsibility, CSR. A man who made almost all his fabulous billions from the Nigerian market is hardly heard of when it comes to giving back to society. On a visit to Jigawa State in 2007, I learnt that for years, Aliko Dangote’s alma mater, Government Secondary School, Birnin Kudu in Jigawa State, was in ruins.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">All entreaties on him to help restore it to its old glory, even by traditional rulers, failed. It was not until Governor Sule Lamido went into partnership with some banks that the school was completely rehabilitated.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">There is one Nigerian business group that I always hold up as an example for Dangote to emulate: The Globacom Group, with Otunba Mike Adenuga as the Chairman. In March this year when Adenuga was rated by Forbes as the second Nigerian to make its list with a little over US$2 billion (though the group hotly disputed this as a gross under-rating). But Adenuga, through his telecoms giant, is almost everywhere, touching the lives of Nigerians, not just those working in the companies or their shareholders. Globacom has sponsored the Nigerian Football Federation’s activities for many seasons. Many artistes in our highly enterprising film industry (Nollywood), comedians and musicians are making decent living out of Globacom’s generous endowments to the entertainment industry.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">In fact, this year, the company surprised my community, Abiriba, by sponsoring our colourful Iri Ama festival, following it up with a gig in which many top musicians featured, a package that cost the company nearly N20 million!</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">With the little that Globacom is getting (compared to that of Dangote) it is touching the lives of many ordinary people, giving them opportunities to grow. Glo is the only telecoms company that gave out complimentary lines to top performing journalists at very generous discount.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">As Alhaji Aliko Dangote (GCON) steps forward to take delivery of the highest honour ever given to a non-governmental functionary, let him reflect on the issues raised and realise that he owes a lot to Nigerians. This country gave him everything he has. He has done excellently with the opportunities he was offered. It is now time to pay back. So much is expected from him in form of Corporate and Personal Social Responsibility.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">Bill Gates, his senior on the Forbes list, is currently financing the eradication of polio in Nigeria. He was here in 2001 with his money to tackle the HIV/AIDS scourge. Mo Ibrahim is paying millions of dollars every year to encourage good governance in Africa.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; ">With our second highest national honour proudly dangling from his neck, we want to see Aliko Dangote rolling out his own endowments to give back to a system that gave him what it has denied millions of other Nigerians.</p></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-89189472381538908242011-11-06T14:35:00.000-08:002011-11-06T14:36:36.820-08:00Aliko Dangote - the ultimate business leader<div class="asset-header" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-family: arial; font-size: 12px; line-height: 18px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><h1 class="blog_heading" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 12px; font-weight: normal; width: 607px; border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(187, 189, 191); float: left; "><b style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 15px; color: rgb(128, 129, 132); float: left; text-transform: uppercase; position: relative; top: 7px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; ">BUSINESS LEADERS </b><span style="margin-top: 14px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: left; width: auto; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(187, 189, 191); height: 2px; background-position: initial initial; background-repeat: initial initial; "></span></h1><div class="clr" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; "></div><div class="teaser_content" style="margin-top: 5px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: left; width: 622px; font-size: 15px; ">Billionaire scoops another award to top off a remarkable year for the Nigerian<span class="fright" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: right !important; "><iframe src="http://www.facebook.com/plugins/like.php?href=http%3A%2F%2Fwww.africanbusinessreview.co.za%2Fbusiness_leaders%2Faliko-dangote---the-ultimate-business-leader&layout=&show_faces=false&width=&action=&font=&colorscheme=&height=35" scrolling="no" frameborder="0" allowtransparency="true" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; overflow-x: hidden; overflow-y: hidden; height: 35px; "></iframe></span></div><div class="full_width mt10 blog_big_pic" style="margin-top: 10px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 622px; float: left; height: 330px; "><div class="top_ten_widget" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 610px !important; height: 335px !important; float: left; "><div id="slider" class="nivoSlider" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: relative; float: left; width: 610px; background-image: url(http://www.africanbusinessreview.co.za/business_leaders/assets_c/2011/11/Aliko%20Dangote-thumb-610x335-52576.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; height: 335px; background-position: initial initial; background-repeat: no-repeat no-repeat; "><a href="http://www.africanbusinessreview.co.za/business_leaders/aliko-dangote---the-ultimate-business-leader" class="nivo-imageLink" style="margin-top: 0px; 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background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -369px 0%; background-repeat: no-repeat no-repeat; "></div><div class="nivo-slice" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: absolute; z-index: 50; height: 0px; left: 410px; width: 41px; opacity: 0; background-image: url(http://www.africanbusinessreview.co.za/business_leaders/assets_c/2011/11/Aliko%20Dangote-thumb-610x335-52576.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -410px 0%; background-repeat: no-repeat no-repeat; "></div><div class="nivo-slice" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: absolute; z-index: 50; height: 0px; left: 451px; width: 41px; opacity: 0; background-image: url(http://www.africanbusinessreview.co.za/business_leaders/assets_c/2011/11/Aliko%20Dangote-thumb-610x335-52576.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -451px 0%; background-repeat: no-repeat no-repeat; "></div><div class="nivo-slice" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: absolute; z-index: 50; height: 0px; left: 492px; width: 41px; opacity: 0; background-image: url(http://www.africanbusinessreview.co.za/business_leaders/assets_c/2011/11/Aliko%20Dangote-thumb-610x335-52576.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -492px 0%; background-repeat: no-repeat no-repeat; "></div><div class="nivo-slice" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: absolute; z-index: 50; height: 0px; left: 533px; width: 41px; opacity: 0; background-image: url(http://www.africanbusinessreview.co.za/business_leaders/assets_c/2011/11/Aliko%20Dangote-thumb-610x335-52576.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -533px 0%; background-repeat: no-repeat no-repeat; "></div><div class="nivo-slice" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: absolute; z-index: 50; height: 0px; left: 574px; width: 36px; opacity: 0; background-image: url(http://www.africanbusinessreview.co.za/business_leaders/assets_c/2011/11/Aliko%20Dangote-thumb-610x335-52576.jpg); background-attachment: initial; background-origin: initial; background-clip: initial; background-color: initial; background-position: -574px 0%; background-repeat: no-repeat no-repeat; "></div><div class="nivo-caption" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 20px; position: absolute; left: 0px; bottom: 0px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(0, 0, 0); color: rgb(255, 255, 255); opacity: 0.8; width: 590px; z-index: 89; height: 40px; font-family: Helvetica, Arial, sans-serif; font-weight: bold; text-align: left; text-shadow: none; top: -5px; background-position: initial initial; background-repeat: initial initial; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 0px; padding-bottom: 5px; padding-left: 0px; position: relative; top: 3px; font-size: 15px; "> Aliko Dangote</p></div><div class="nivo-controlNav" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; left: 450px; position: absolute; top: 5px; z-index: 1000; "><a class="nivo-control active" rel="0" style="margin-top: 0px; margin-right: 3px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: none !important; outline-style: none; outline-width: initial; outline-color: initial; color: red; position: relative; z-index: 99; cursor: pointer; display: block; width: 12px; height: 22px; font-weight: bold; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; float: left; border-style: initial; border-color: initial; background-position: 0px -22px; ">1</a></div></div></div></div><div class="date_author" style="margin-top: 20px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; width: 607px; border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(187, 189, 191); float: left; "><div class="date_data" style="margin-top: 5px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 15px; color: rgb(128, 129, 132); float: left; text-transform: uppercase; position: relative; top: 7px; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; height: 51px; "><div class="asset-meta author_content" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-size: 13px; border-top-width: 0px !important; border-top-style: solid !important; border-top-color: rgb(255, 255, 255) !important; color: rgb(119, 119, 119); border-bottom-width: 0px !important; border-bottom-style: solid !important; border-bottom-color: rgb(255, 255, 255) !important; height: 0px; border-right-width: 0px !important; border-left-width: 0px !important; border-right-style: solid !important; border-left-style: solid !important; border-right-color: rgb(255, 255, 255) !important; border-left-color: rgb(255, 255, 255) !important; "><span class="byline" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: left; "><a href="http://www.africanbusinessreview.co.za/business_leaders/author/m.rudd/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; outline-style: none; outline-width: initial; outline-color: initial; color: rgb(146, 23, 18); "><img src="http://www.africanbusinessreview.co.za/whitedm/mt-static/support/assets_c/userpics/userpic-3190-100x100.png" alt="Melissa Rudd" width="22" style="margin-top: 0px; margin-right: 5px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-style: initial; border-color: initial; border-top-style: none; border-right-style: none; border-bottom-style: none; border-left-style: none; border-width: initial; border-color: initial; border-width: initial; border-color: initial; width: 47px; height: 53px; top: auto; left: auto; " /> </a><abbr class="published" title=" 2 Nov 2011" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; color: rgb(156, 156, 156); ">2 NOV 2011</abbr> <span class="vcard author" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font-style: italic; color: rgb(0, 0, 0); text-transform: capitalize; "><a href="http://www.africanbusinessreview.co.za/business_leaders/author/m.rudd/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; outline-style: none; outline-width: initial; outline-color: initial; color: rgb(0, 0, 0); ">Melissa Rudd</a></span></span></div> </div><em style="margin-top: 14px; margin-right: 0px; margin-bottom: 0px; margin-left: 10px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: left; width: auto; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(187, 189, 191); height: 2px; background-position: initial initial; background-repeat: initial initial; "></em></div></div><div class="asset-content entry-content mt20 fleft w_100" style="margin-top: 20px; margin-right: 0px; margin-bottom: 5px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; position: static; clear: both; float: left !important; width: 622px; font-family: arial; font-size: 12px; line-height: 18px; text-align: -webkit-auto; background-color: rgb(255, 255, 255); "><div class="asset-body" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; height: 1032px; width: 622px; float: left; "><div class="facebook_iframe" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><iframe src="http://widgets.fbshare.me/files/fbshare.php?size=large&url=http://www.africanbusinessreview.co.za/business_leaders/aliko-dangote---the-ultimate-business-leader&title=Aliko%20Dangote%20-%20the%20ultimate%20business%20leader%20-%20African%20Business%20Review&google_analytics=true&badge_color=#647BAD&badge_text=#ffffff" width="53" height="69" frameborder="0" scrolling="no" allowtransparency="true" style="margin-top: 0px; margin-right: 17px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: left; width: 53px; height: 70px; "></iframe></div><div class="twitter_content" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; "><iframe src="http://platform.twitter.com/widgets/tweet_button.html#_=1320618910540&count=vertical&id=twitter_tweet_button_0&lang=en&original_referer=http%3A%2F%2Fwww.africanbusinessreview.co.za%2Fbusiness_leaders%2Faliko-dangote---the-ultimate-business-leader&text=Aliko%20Dangote%20-%20the%20ultimate%20business%20leader%20-%20African%20Business%20Review&url=http%3A%2F%2Fwww.africanbusinessreview.co.za%2F" allowtransparency="true" frameborder="0" scrolling="no" class="twitter-share-button twitter-count-vertical" title="Twitter For Websites: Tweet Button" style="margin-top: 0px; margin-right: 17px; margin-bottom: 0px; margin-left: 0px; padding-top: 10px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; width: 55px; float: left; height: 62px; "></iframe></div></div><div class="mt-70" style="margin-top: -70px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; "><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">When Aliko Dangote looks back and reflects on 2011, he probably does so with a big grin on his face, and rightly so.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Dangote was named the 2011 Business Leader of the Year at the African Business Awards, beating off competition from Nizar Juma
of Jubilee Holdings, James Mwangi of Equity Bank,
Phuthuma Freedom Nhleko
of MTN and Vimal Shah of Bidco Oil Refineries.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">At the same awards, organised by African Business and the Commonwealth Business Council, the Dangote Group was crowned African Business of the Year.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">The name 'Dangote' is a household name in Nigeria, thanks to the Dangote Group's wide variety of products found on the country's supermarket shelves and beyond.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">The biggest brand in the group is Dangote Cement, the largest company on the Nigerian Stock Exchange. Aliko Dangote, the founder, made the 2011 Forbes list of world billionaires in 2011 after his fortune increased by 557 percent, making him now worth an estimated $13.8 billion.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Those who haven't a Dangote product in their kitchen cupboards have probably seen a Dangote exporter truck or even helped to contribute to the Group's success indirectly seeing as it dominates the sugar market in the country, supplying soft drinks manufacturers, breweries and confectioners.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">The Dangote Group has 13 subsidiaries spread all over Nigeria to include salt, flour, pasta, noodles, logistics, real estate, telecommunications, steel, oil and gas among others, and operates in 14 African countries.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">So who is the man behind the multi-billion dollar fortune?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Well you don't become the second richest man in Africa and the Middle East, and the 51st richest man in the world without a fair amount of business acumen and bold leadership strategies.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Born in 1957, Alhaji Aliko Dangote was a graduate of Business Studies from the Al-Azahar University in Cairo, Egypt. His humble beginnings in business started in 1977 when he began trading in rice, sugar and cement, before he ventured into full-scale manufacturing.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">He established the Dangote Group as a trading business in 1981, initially focusing on cement. In the years that followed, this progressed into a conglomerate trading cement, sugar, flour, salt and fish.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">In 1999, Dangote travelled to Brazil to study the up and coming manufacturing sector. It was this trip that signalled the real explosion in growth for the Dangote Group.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Dangote made the brave decision to change his Group from a trading based business into a complete manufacturing empire – exploiting a gap in Nigeria, a country which had previously relied on imports for consumable goods.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">Since the millennium, Dangote's business plan has centred around the ambitious construction of flour mills, a sugar refinery and a pasta factory and in the same year the Group acquired government-owned Benue Cement. Obajana Cement Plant, the largest in sub-Saharan Africa, was opened in 2003.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">The Group's core business of providing local, value-added products and services that meet the 'basic needs' of the Nigerian population has certainly worked. In 2010, it recorded a turnover in excess of $3 billion (N450 billion) and has much more potential, too.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">In September it was announced that Dangote plans to build the largest fertiliser plant in Africa in an effort to aid the country’s agriculture industry and to cut down on food shortages, scheduled to come into operation by 2014.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">When accepting his Business Leader award, Dangote said he was confident that a new era had begun in terms of doing business on the continent.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">“Reforms are changing the face of doing business in the continent,” he said. “Over 84 percent of economies in sub-Saharan Africa have implemented regulatory reforms making it easier to do business.</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0.75em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">“There are still challenges to doing business in Africa but there is hope. This is a new Africa. Governance is much better. Yes, there is corruption and it is still an issue. But looking at where we have come from, things are getting better and fast.” </p></div></div></div>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-62530070399419867342011-10-26T10:23:00.000-07:002011-10-26T10:24:58.453-07:00Aliko Dangote and Standard Bank mark their leadership atAABLA<span class="Apple-style-span" style="color: rgb(68, 68, 68); font-family: Arial; font-size: 12px; "><h2 style="color: rgb(221, 85, 0); text-decoration: none; font-size: 1.7em; margin-top: 5px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: Georgia; "><br /></h2><div class="meta" style="font-size: 0.9em; margin-bottom: 10px; color: rgb(119, 119, 119); ">Published: 24 October 2011</div><h3>Captains of Industry from across Africa gathered in one room on Thursday, 20 October to attend the inaugural <i>All Africa Business Leader Awards (AABLA)</i> ceremony where Aliko Dangote and Standard Bank were winners in two separate categories each.</h3><div style="overflow-x: auto; 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background-clip: initial; background-color: white; border-bottom-style: solid; border-bottom-width: 1px; border-bottom-color: rgb(238, 238, 238); font-size: 0.9em; display: block; padding-top: 4px; padding-right: 4px; padding-bottom: 4px; padding-left: 4px; margin-top: 1px; background-position: initial initial; background-repeat: initial initial; ">CNBC Africa brings you the ultimate corporate golf challege</a></div><div class="divStoryText" id="divStoryBody">Earlier this year ABN Productions announced the launch of <i>AABLA</i>in an attempt to identify and honour those leaders who are making a difference through innovation and inspiration in their industry sectors. The event proved to be a huge success with guests leaving inspired and motivated to achieve more.<br /><br />Amongst the honoured guests in attendance at the ceremony was MEC for Economic Development Qedani Dorothy Mahlangu, Director General Sibusiso Xaba of the Department of Arts and Culture, retail pioneer, Raymond Ackerman and representatives from the office of Aliko Dangote.<br /><br />The winners in all the categories are as follows:<br />Young Africa Business Leader of the Year<br />• James Mworia, CEO, Centum Investment<br /><br /><b>Africa Businesswoman of the Year</b><br />• Maria Ramos, Group CEO, Absa Group, South Africa<br /><br /><b>CNBC Africa Business Success in Africa Award</b><br />• Sim Tshabalala, Deputy CEO, Standard Bank Group<br /><br /><b>Africa Business Leader of the Year </b><br />• Aliko Dangote, Founder, Dangote Group, Nigeria<br /><br /><b>Africa Entrepreneur of the Year</b><br />• Aliko Dangote, Founder, Dangote Group, Nigeria<br /><br /><b>Leadership in Arts Award</b><br />• Sim Tshabalala, Deputy CEO, Standard Bank Group<br /><br /><b>Lifetime Achievement Award </b><br />• Raymond Ackerman, Founder, Pick ‘n Pay<br /><br />Founder of <i>AABLA</i> and vice chairman for ABN Group, Rakesh Wahi’s vision for the awards is for it to continue to serve as a platform to discover the business leaders who are creating a culture of entrepreneurship, developing best practices and carving out powerful and sustainable models of business in the global economy. He says “<i>AABLA</i> is set to be an annual event, with plans to expand into regional awards across the continent.”<br /><br /><i>AABLA 2011</i> was sponsored by IDC, ABSA, Telkom, Sanlam and the Department of Arts & Culture, Department of Economic Development, TATA and Pernord Ricod. CNBC Africa covered the event with live crossings on the <i>Business Tonight</i> show.</div><br /><br /><b>Tagged Publications:</b><br /><div style="overflow-x: auto; overflow-y: auto; padding-top: 20px; padding-right: 20px; padding-bottom: 20px; padding-left: 20px; "><a href="http://mediaupdate.co.za/?pub=85" class="aButton" style="color: rgb(161, 0, 0); text-decoration: none; display: block; float: left; padding-top: 5px; padding-right: 8px; padding-bottom: 5px; padding-left: 8px; font-size: 12px; margin-top: 2px; margin-right: 1px; margin-bottom: 1px; margin-left: 0px; white-space: nowrap; background-color: rgb(238, 238, 238); border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-right-color: rgb(187, 187, 187); border-bottom-color: rgb(187, 187, 187); border-top-color: rgb(245, 245, 245); border-left-color: rgb(245, 245, 245); 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background-clip: initial; background-color: white; border-top-style: solid; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-color: rgb(204, 204, 204); border-right-color: rgb(204, 204, 204); border-bottom-color: rgb(204, 204, 204); border-left-color: rgb(204, 204, 204); background-position: initial initial; background-repeat: initial initial; "><a href="http://mediaupdate.co.za/?IDStory=42714" style="color: rgb(221, 85, 0); text-decoration: none; display: block; text-align: left; font-size: 1.3em; margin-top: 10px; margin-right: 10px; margin-bottom: 10px; margin-left: 10px; ">Wild and wonderful things on National Geographic and Nat Geo Wild in November →</a><a href="http://mediaupdate.co.za/?IDStory=42705" style="color: rgb(221, 85, 0); text-decoration: none; display: block; text-align: left; font-size: 1.3em; margin-top: 10px; margin-right: 10px; margin-bottom: 10px; margin-left: 10px; ">Taking on the SLS on <i>Cars in Action Online</i> →</a><a href="http://mediaupdate.co.za/?IDStory=42704" style="color: rgb(221, 85, 0); text-decoration: none; display: block; text-align: left; font-size: 1.3em; margin-top: 10px; margin-right: 10px; margin-bottom: 10px; margin-left: 10px; ">Looking at lions on <i>50/50</i> →</a><a href="http://mediaupdate.co.za/?IDStory=42703" style="color: rgb(221, 85, 0); text-decoration: none; display: block; text-align: left; font-size: 1.3em; margin-top: 10px; margin-right: 10px; margin-bottom: 10px; margin-left: 10px; ">CNBC Africa and SAT host tourism debate →</a><a href="http://mediaupdate.co.za/?IDStory=42678" style="color: rgb(221, 85, 0); text-decoration: none; display: block; text-align: left; font-size: 1.3em; margin-top: 10px; margin-right: 10px; margin-bottom: 10px; margin-left: 10px; ">Shaping beauty on <i>Nip/Tuck</i> →</a></div></div></div></span>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0tag:blogger.com,1999:blog-7828544376176973730.post-12700023073042699002011-10-09T06:44:00.000-07:002011-10-09T06:45:32.812-07:00Dangote Assures Shareholders of Higher Returns<span class="Apple-style-span" style="color: rgb(51, 51, 51); font-family: Arial; font-size: 12px; background-color: rgb(255, 255, 255); "><div class="img" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; max-width: 540px; overflow-x: hidden; overflow-y: hidden; "><img src="http://serving.thisdaylive.com/0bef99d6-acf5-4e2c-9779-8fa02ba3fcd4/assets/Alhaji-Aliko-Dangote-2308.jpg?maxwidth=400&maxheight=540" id="page_content_Content9_oModuleContent_2_img_Banner" alt="Alhaji-Aliko-Dangote-2308.jpg - Alhaji-Aliko-Dangote-2308.jpg" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; " /></div><div id="page_content_Content9_oModuleContent_2_div_Body" class="body" style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; clear: both; line-height: 1.5em; "><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">President, Dangote Group, Aliko Dangote</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; "><br /><br />By Goddy Egene</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">The Chairman of Dangote Flour Mills Plc, Alhaji Aliko Dangote, has assured shareholders of the company and sister firms listed on the Nigerian Stock Exchange (NSE) of improved returns on their investments in the years ahead.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Dangote gave the assurance at the Annual General Meeting (AGM) of Dangote Flour Mills held in Kano last Thursday, saying the N76.24 billion dividend the four companies paid for the year ended December 31, 2010, would be improved upon.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">The four companies are: Dangote Cement Plc, Dangote Sugar Refinery Plc, Dangote Flour Mills Plc and National Salt Company of Nigeria (NASCON).</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Before last week, three of the companies had paid a dividend of N74.34 for the 2010 financial year. However, shareholders of Flour Mills approved the N1.9 billion proposed by the directors at the AGM last Thursday, thus bringing the total dividend to N76.24 billion, compared to N60.21billion paid in 2009.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Market analysts said the total dividend paid out by the Dangote companies was very significant considering the fact that many quoted companies could hardly made profit owing to the harsh economic and operating environment.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Going by the annual reports and accounts of the listed companies, Dangote Cement paid N65.84 billion, Dangote Sugar paid N7.2 billion, while NASCON paid out N 1.3 billion dividend.<br />Excited shareholders showered praises on the management of the companies under the group for rewarding them bountifully despite the economic down turn in the capital market.<br />Chairman of Shareholders’ Trustees Association of Nigeria Alhaji Mukhtar Mukhtar described the dividend pay-out as remarkable considering the fact some companies were unable to do so as result of unfavourable investment climate in Nigeria.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">“We are encouraged by Alhaji Aliko Dangote. In addition to the dividend, his companies have been creating jobs and feeding Nigerian families. All Nigerians should emulate him,” Mukhtar said.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">Addressing shareholders of Dangote Flour Mills, Dangote, said going forward, the company would perform better as its expansion project to enlarge its manufacturing and packaging facilities, which started some years back, was almost completed.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">“Our dedicated plant for production of our wheat meal brand Alkama and Danvita would soon be ready for commissioning any moment from now.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">This would no doubt, tremendously boost our top line growth in year 2011 as plans are already in place to massively launch the products and increase the distribution networks to all the hinterlands,” he said.</p><p style="font-size: 12px; margin-top: 0px; margin-right: 0px; margin-bottom: 1em; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-align: justify; ">He added that the plan to commence direct and indirect export into Chad, Cameroon, Senegal and Liberia was already yielding fruits, disclosing that “We intended to intensify efforts to deepen and strengthen the business relationship already established along the West Africa Coast.”</p></div></span>Mikehttp://www.blogger.com/profile/04435688323070862183noreply@blogger.com0