Black People : 55 African Billiionaires reported.

Discussion in 'Black People Open Forum' started by KingSango, Oct 8, 2013.

  1. KingSango

    KingSango Banned MEMBER

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    Ventures magazine said on Monday in a report on the continent's mega-rich that there are far more African billionaires than we think, but that the number of Africans living in extreme poverty has also shot up.
    Previous Africa-rich-lists named as few as 16 billionaires, but Ventures said its exhaustive research had identified at least 55 on a continent where the wealthy often fiercely protect details about their fortunes.
    The pan-African business magazine said it was able to uncover dozens of new billionaires by using "on-the-ground knowledge" to overcome hurdles that may have "hampered" other researchers.
    Of the 55, 20 are Nigerian, including several oil barons, while South Africa and Egypt boast nine and eight respectively.
    Ventures supported reports by Forbes that listed Nigeria's Aliko Dangote as Africa's richest man with a fortune of $20.2-billion.
    Dangote, who made his fortune in cement, heads a multi-interest empire, profiting from products including flour and sugar, while eyeing a massive investment in oil refining.
    The continent's richest woman is Nigeria's Folorunsho Alakija, whose Fama Oil owns an offshore oil block, which she acquired in 1993 "at a relatively inexpensive price", likely through a helpful connection, the magazine said.
    Alakija studied fashion in London, then made dresses for Maryam Babaginda, the late wife of Nigerian military dictator Ibrahim Babaginda.
    The former designer "is believed to have ridden on the crest of this relationship to acquire an oil block," off the Niger Delta in southern Nigeria, said Ventures.
    The most prominent South African named is Nicky Oppenheimer, worth an estimated $6.5-billion, whose fortune came largely from the diamond mines his family controlled for decades, which were operated by De Beers.
    Oppenheimer sold his family's stake in De Beers two years ago.
    'Underestimate'
    ​The figure of 55 is "actually an underestimate" of Africa's billionaires, Chi-Chi Okonjo, the founder of Ventures, told Agence France-Presse.
    "People are not comfortable disclosing their wealth," he said. Corruption is rife on the continent and the rule of law still unevenly applied.
    African business moguls often face accusations that their fortunes were illegitimately earned, including with extra-legal help from political patrons.
    The apparently rising number of ultra-rich Africans has come amid broader economic growth on the continent, which has seen an average of 5% GDP expansion since 2010.
    But economic growth has not kept up with a rising population.
    "There are more than twice as many extremely poor people living in sub-Saharan Africa today [414-million] than there were three decades ago [205-million]," the World Bank said in April.
    It is the only region where "the number of poor people individuals has risen steadily and dramatically", over the last 30 years, the bank said. – AFP
     
  2. KingSango

    KingSango Banned MEMBER

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    Now is the time yall, I can't stress it any more that if we are going to make a serious move now is the time.
     
  3. Kadijah

    Kadijah Banned MEMBER

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    Iweala said he was excited to find several Africans who have become wealthy through manufacturing and financial services showing "we're moving away from a continent that is just resource-based."

    He found Africa's billionaires "very bullish on Africa: They believe this is the environment to make fortunes and to make changes ... they are not taking their money and running" abroad.

    And he found Africa's richest people are becoming more transparent about their wealth and more formal in returning wealth to the community: "As people have more and more money we're seeing more and more foundations putting money back, and in a more structured way."

    Alakija's Rose of Sharon Foundation helps support widows and orphans all over Nigeria, for instance.

    According to Ventures Africa, the 61-year-old Alakija studied fashion design in London in the 1980s and returned home to set up Supreme Stitches, which became an exclusive label catering to a wealthy clientele including Mariam Babangida, wife of former Nigerian military dictator Ibrahim Babangida. In 1993, the Babangida regime gave Alakija a license to explore for oil in a block that has become one of the most prolific in the oil-rich country, producing some 200,000 barrels a day, according to the magazine.

    It credited Alakija for holding on to her license and entering into a joint venture with an international oil exploration company at a time when many Nigerians given licenses, mainly military generals, sold them off to international oil firms.

    Alakija fought a court case for more than a decade when a civilian government forcefully awarded itself a 50 percent interest in her company, after the field was confirmed in 2000 to hold reserves in excess of 1 billion barrels. A court last year voided the government's acquisition and returned the stake to Alakija's Famfa Oil, which she runs as a family business with her husband and four sons.

    Ventures Africa said the value of Alakija's 60 percent stake in the block, based on recent sales in Nigeria, is between $6.44 billion and $8.3 billion.







    http://www.philly.com/philly/business/20131008_ap_61e61554ac424d8ab7a475b9825...
     
  4. Alarm Clock

    Alarm Clock Well-Known Member MEMBER

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    And combined they are doing what to end starvation and dependence on the former colonizer?

    To be honest and adult about this, what is the dif between the White one percent and thew Black one percent, in having a care or concern for the plight of the grassroots?
     
  5. KingSango

    KingSango Banned MEMBER

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    Revolution and change always starts from the bottom not the top, rich people lose a lot of freedom for their vast wealth. You get no where without a rich, strong and influential persons or group backing you and they get no where without us poor people coming forth with new vision.
     
  6. Alarm Clock

    Alarm Clock Well-Known Member MEMBER

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    Now that you want to go onto the subject of revolution, what revolution do you know of that did not come from the top down?

    What was the class aand level of wealth of the starters of
    The French revolution, the American revolution, the Russian Revolution, the Cuban revolution, the Chinese revolution?

    Lenin, Mao, Che and Castro , were all a part of the vested well to do bougousie educated gentry, and were all hated by the one percent billionaires in each nation!
     
  7. Alarm Clock

    Alarm Clock Well-Known Member MEMBER

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    The only place were the weathy supported revolution was in China , when the wealthy millionaires of China supported Sun Yat Sen against the empire, and the European invaders but as far as us Africans there is maybe one out of 47 Black nations that has that kind of "nationality" and people first ideology!

    The hardest thing Nyerere and Nkhurmah and Kenyatta and Kaunda and Ture said during the liberations, was to get the wealthy Blacks to understand or even care about the masses and understand a need for wealth redistribution! Not wealth redistribution were they must give up all to the poor, but at least as far as creating institutions with a small amount of their wealth to help folks get out of poverty!
     
  8. Kadijah

    Kadijah Banned MEMBER

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    Revolutions are ALWAYS started by the middleclass - NEVER the rich and NEVER the poor.
     
  9. Kadijah

    Kadijah Banned MEMBER

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    When speaking of blacks in ANY economic group, we must always remember that we are indeed, speaking African people, not European. We must not ASSume that blacks of means will act like Europeans. To do so would be to negate African culture. What African billionaires will do with their fortunes is not a foregone conclusion as evidenced by Alakija starting her Rose of Sharon Foundation to help her people. In addition to Alakija, there's also Mo Ibrahim:

     
  10. KingSango

    KingSango Banned MEMBER

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    My point is simple, Africans are making billions in Africa, this negates that Africa is in total chaos and controlled totally by European arguments. People think Africans are starving but you can go online and see African restaurants preparing and serving delicious cuisines.

    Optimism and faith are great to have because it goes like this, if happy even if you don't complete your goal at least you have happiness. It is good to see others are getting rich it lets you know things aren't as bad as some would have us to believe.

    Seek ye the Kingdom, and all these things shall be given unto thee. What that means to me is we can have a kingdom in Africa to the likes we can never have in America. We come here to Destee some of us to complain about our injustices, well we know White people are evil so will complaining make them change? Injustices will continue, Police brutality will continue, discrimination in hiring will continue, healthcare disparities will continue, mass incarceration will continue, abortions of 1000s of black babies will continue, insults through media will continue, brainwashing and outlying will continue, none of things will cease from the hearts of our oppressors. To keep complaining, whining and going about your life protesting every evil they do is wasteful. The Bible says, don't let evil flourish, do good to overcome evil. We must organize and form a coalition of Black Nationalists to fund and launch a change in Africa, where by we can plant our seed back in the Motherland and forsake this Satanic country. And who wants to remain with the barbarians then complain about their barbarism?
     
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