Monthly Archives: September 2012

Uhuru kenyatta Among the Rich People in Africa

Methodology Used
The list focused on citizens of African countries – thereby excluding potential members like Sudanese-born billionaire Mo Ibrahim, who’s a U.K. citizen; South African-born Ivan Glasenberg (the CEO of commodities trader Glencore, who is an Australian citizen) and former South African billionaire Donald Gordon (who has become a British citizen and lives in the U.K.). We calculated the fortunes using stock prices and currency exchange rates from close of business Wed. November 2. To value privately-held businesses we couple estimates of revenues or profits with prevailing price-to-sales or price-to-earnings ratios for similar public companies.

We have purposely excluded dispersed family fortunes such as the Chandaria family of Kenya and the Madhvanis of Uganda, because the wealth is believed to be held by dozens of family members. We do include wealth belonging to a member’s immediate relatives if the wealth can be traced to one living individual; in that case, you’ll see “& family” on our list as an indication.

Here is a description of the two Kenyans on the list and their sources of wealth.

Uhuru Kenyatta

Uhuru Kenyatta

Uhuru Kenyatta:  Position 23

Net Worth: $500 Million. Source of Wealth:  Land Age: 50 Marital Status: Married

Kenya’s Deputy Prime Minister Uhuru Kenyatta is the son of Kenya’s first president, Jomo Kenyatta, and heir to some of the largest land holdings in Kenya. He owns at least 500,000 acres of prime land spread across the country. The land was acquired by his father in the 1960s and 1970s when the British colonial government and the World Bank funded a settlement transfer fund scheme that enabled government officials and wealthy Kenyans to acquire land from the British at very low prices. Uhuru and his family also own Brookside Dairies, Kenya’s largest dairy company, as well as stakes in popular television station K24 and a commercial bank in Nairobi, among other interests.

Chris Kirubi

Chris Kirubi

Chris Kirubi: Position 31

Net Worth: $300 Million. Source of Wealth: real estate Age: 70

Kenya’s most flamboyant tycoon, Chris Kirubi got an early start buying up small, dilapidated residential and commercial real estate in Nairobi, then renovated the properties and flipped them for a profit. He now owns Nairobi’s landmark International House building, one of the city’s longest standing and most prestigious commercial properties, as well as several other commercial and residential buildings in Nairobi. Other assets include a 49% stake in Haco Tiger Industries, which manufactures consumer products; a controlling stake in Centum, a Nairobi Stock Exchange-listed private equity firm; UAP Insurance, one of Kenya’s largest insurance companies and Sandvik East Africa, a Kenyan construction firm. Also owns the DHL Franchise in Kenya, and Capital FM, Kenya’s most popular radio station. Devout disciple of social media keeps active Twitter and Facebook accounts. Avid golfer.

Here is the complete list of the 40 richest Africans.

Rank Name    Net Worth ($mil)      Age
1 Aliko Dangote 10,100 54
2 Nicky Oppenheimer & family 6,500 66
3 Nassef Sawiris 4,750 50
4 Johann Rupert & family 4,700 61
5 Mike Adenuga 4,300 58
6 Miloud Chaabi 3,000 82
7 Naguib Sawiris 2,900 57
8 Christoffel Wiese 2,700 70
9 Onsi Sawiris 2,600 81
10 Patrice Motsepe 2,500 49
11 Othman Benjelloun 2,400 79
12 Anas Sefrioui 1,750 54
13 Mohamed Mansour 1,700 63
14 Yasseen Mansour 1,550 50
14 Youssef Mansour 1,550 66
16 Mohamed Al Fayed 1,300 78
17 Jim Ovia 775 57
18 Lauritz (Laurie) Dippenaar 750 63
19 Shafik Gabr 730 59
20 Stephen Saad 640 47
21 Theophilus Danjuma 600 72
22 Alami Lazraq 575 61
23 Samih Sawiris 560 54
24 Oba Otudeko 550 67
25 Raymond Ackerman 545 80
26 Uhuru Kenyatta 500 50
27 Gerrit Thomas (GT) Ferreira 460 63
28 Hakeem Belo-Osagie 450 56
29 Abdulsamad Rabiu 400        NA
30 Mohammed Indimi 330 63
31 Chris Kirubi 300 70
31 Jannie Mouton 300 64
33 Michiel Le Roux 290 62
34 Adrian Gore 280 47
34 Strive Masiyiwa 280 51
36 Cyril Ramaphosa 275 59
36 Giovanni Ravazzotti 275 68
38 Mohamed Bensalah 270 41
39 Markus Jooste 260 50
40 Paul Harris 250 61


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