Africa Business Communities

Glenn Davies: African Empires - The Modern Day Pharaoh’s

When we think about Africa and the history behind it, we are presented with a massive intricate and complex array of events that have shaped the continent’s past, from the early men and women who left their footsteps in mud and clay to the liberation of Nelson Mandela, and a whole lot of wars, conquests, civilizations and revolutions in between.

In early settlement, Victorian missionaries liked to think they were bringing the beacon of ‘civilisation’ to the ‘savages’ of Africa, but the truth is that Africans were developing commercial empires and complex urban societies while the Europeans was still running after wildlife with clubs. Many of these civilisations were small and short-lived, but others were truly great, with influence that reached far beyond Africa and into Asia and Europe.

Africa is without doubt the most significant continent on earth - without it we wouldn’t exist. For thousands of years powerful men and women have built vast empires across the continent - some which are still recognized today as being the most powerful forces to have ever ruled. From Ghana to Cameroon, Chad to Nigeria and from Benin to Egypt - Pharaoh’s, Kings and Queens built, conquered and ruled Africa.

Fast forward to present day and Africa is now ruled, developed and controlled not by the Kings and Queens with swords and shields but by Men and Women with pens and mobile phones.

These are the modern day Pharaoh’s of Africa.

So who are these women and men that are shaping and re-building this great continent into what once was?

To give justification to this question would take many more words than I can present in this article. Today there are over 100,000 millionaires in Africa - each successfully contributing to the building of the fastest growing continent on earth in their own rights. So instead I’ve listed some key influencers and powerful contributors who I feel make up this prestigious list.

It’s no surprise that Mr Aliko Dangote makes the cut as a modern day Pharaoh of the business world. Nigerian born, he is recognized today as Africa's richest man. Mr. Dangote owns the Dangote Group, which has interests in commodities. The company operates in Nigeria and other African countries, including Benin, Cameroon, Ghana, South Africa, Togo and Zambia. As of January 2015, he had an estimated net worth of US$18.6 billion.

Kenya has it’s own ‘Commercial King’ in billionaire Naushad Merali. Mr Merali  recently revealed that he is planning to build a Sh2.8 billion milk factory in Nakuru which is Africa’s fastest growing dairy market. He might have his work cut out for him though as Dangote also last year unveiled plans to enter the dairy market in Kenya.

But Africa is not being built by men alone. There are a large number of modern day Pharaoh Queens who are definitely helping to mould Africa’s future. Dr Ngozi Okonjo-Iweala is well-known for her role as the Managing Director, World Bank and her part in shaking up Nigeria’s finances. She also founded the Makeda Fund, investing in helping African women entrepreneurs.

Folake Folarin-Coker is a CEO, Fashion designer of Tiffany Amber, and responsible for revolutionising the Nigerian fashion industry in the late 90’s. She is the first African designer to have shown at New York fashion week twice.

A power player in Botswana is Ms Linah Mohohlo. An ex-Governor, she has also worked as International Monetary Fund Special Appointee and been a member of the International Monetary and Financial Committee. An eminent academic, she has published several papers, books and chapters in the field of economics, reserves management and governance. She is the recipient of Botswana’s highest public service award, Presidential Order of Honour.

Helping to build Ghana is Mr John Kofi Agyekum Kufuor, a businessman and politician who once served as president. And in Mozambique Mr Armando Emílio Guebuza also a politician serving as President of Mozambique from 2005 to 2015 and has been instrumental in the countries growth and development.

Across to the North in Egypt, Naguib Sawiris was recently listed in Forbes magazine as the 544th richest person in the world, with a personal wealth of $3.1 billion. Staying with the North in Morocco, Mr Aziz Akhannouch is a multibillion-dollar conglomerate with interests in petroleum, gas and chemicals through its publicly-traded subsidiaries Afriquia Gas and Maghreb Oxygene.

Moving to the East in Tanzania, Mr Mohammed Dewji has turned a trading house founded by his father into an industrial conglomerate called the MeTL Group. He owns 75% of the group and has definitely put Tanzania on the map when it comes to audacious business ventures.

Whilst in the South, Patrice Tlhopane Motsepe is a South African mining magnate. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. In 2012, Motsepe was named South Africa's richest man, topping the Sunday Times' annual Rich List with an estimated fortune of R20.07 billion ($2.4 billion).

Glenn Davies is Group CEO of Inigmah

 

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