He’s a Nigerian by the name of Aliko Dangote. He owns a sugar and cement company. I heard on the radio today that he controls a company that supplies European candy makers with most of their refined sugar. I did not know that most of Europes refined sugar comes from Africa. His company also supplies the Nigerian government with the cement it is using to build roads, buildings, etc, etc….
I suppose since Forbes has him on the list, his money is relatively clean (based on African standards at least). The article says he is also a close ally of former president Obasanjo. No age was given, but he looks to be either in his mid-fifties or early sixties (link to article here).
He became a billionaire after his company was listed on the Nigerian stock exchange. It’s pretty clear now that if you want to become a billionaire, you have to take your company public.
- Kenya grows sugar. What do the farmers do with it? Do they have to sell it through one of those useless government controlled boards?
- Why doesn’t Kenya allow agricultural commodities to be listed on the Nairobi Stock exchange? They are listed everywhere else in the world (in America, in brazil, etc, etc).
I’ve never understood why those boards continue to exist. They are a relic of the colonial era and the British used them to ensure their own wealth. Then of course, African governments kept them after independence and used them as repositiries for political favors, graft and corruption. There was a time Moi decreed that coffee and tea from central province should not only be sold at less quantities, but that it should be bought for less money (tea from Kericho took precedence and that was one of the reasons that Kenya’s coffee and tea industries in central province collapsed during his presidency). How do you get rich by trying to take or destroy other people’s wealth? Don’t you have to create new wealth? isn’t that the answer?
**There is a black South African on the list.