Africa’s billionaires became richer in 2021 despite the devastating impacts of the global pandemic on businesses around the world, a new report by Forbes has revealed.
The report published on Monday is a product of a study that tracked the wealth of African billionaires who reside in Africa or have their primary business within the continent. According to the report, soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of the tycoons, as demand for products from cement to luxury goods ticked up.
Luxury goods magnate, Johann Rupert of South Africa, who was ranked fourth among the billionaires, rose to second spot in the latest rankings. “The biggest gainer in percentage terms–up 125%—is Strive Masiyiwa of Zimbabwe, worth $2.7 billion, up from $1.2 billion last year. Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750% in the past year, helping to drive up the size of his fortune,” the report partly reads.
How much be cement today compare to 2020? Omolomo
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