The distribution of wealth around the world is often the source of heated discussion and debate throughout the internet. Quantitatively, the 62 richest people in the world are actually wealthier than half of the world’s population. Bill Gates, founder of…
Economy & Finance
EKO ATLANTIC: A GOLDEN OPPORTUNITY FOR NIGERIA’S SUPER RICH?
Bustling Urban Centres, from London to New York and Paris are underpinned by thriving financial hubs and districts. The Eko Atlantic Megacity project promises to be a pillar to help usher in a new age of prosperity in Nigeria by…
Meet Folorunsho Alakija, one of the richest woman in Nigeria
Mrs Folorunsho (or Folorunso) Alakija is a Nigerian businesswoman and Nigeria’s first female billionaire with a net worth of $2.5 billion. She is the Executive Vice Chairman of Famfa Oil Limited (oil exploration and production company) and also Group Managing…
Newly rich Africans are young, millennials willing to spend
The profile of a rich African is shifting from older white-haired males to younger, hip millennials who have found new ways to make and keep money in a changing global scene. There will be 3,933 ultra-wealthy individuals on the continent…
MAURITIUS RANKED THE RICHEST COUNTRY IN AFRICA
Mauritius’ population is the richest in Africa with an average wealth of US$21,700 per person a new Research and Markets report titled “The Africa 2016 Wealth Report” showed. Mauritius was ranked ahead of South Africa with a per capita wealth of $10,300 then…
GUCCI EXPECTS TO GROW MORE THAN TWICE AS FAST AS LUXURY MARKET
French luxury group Kering’s flagship Gucci brand has seen strong sales growth since March and expects to be able to grow more than twice as fast as the wider luxury market over the medium term, the company said. “In March…
MEET THE RICHEST MAN IN AFRICA – ALIKO DANGOTE
There’s only one person in all of Africa who makes the list of the 50 richest people on earth: Nigerian businessman Aliko Dangote. When our ranking was released, Dangote’s net worth stood at $14.3 billion, equal to 2.5% of Nigeria’s GDP. The majority of his wealth stems from…
THE RISE OF ALGERIA’S SHOPPING MALLS
More than 250km east of the Algerian capital in the city of Sétif, private holding company Prombati opened the Maghreb region’s second largest mall recently. Park Mall, a four storey shopping and leisure complex, has a total of 45,000 square…
NIGERIA’S JET SET: HOW THE SUPER RICH TRAVEL
Nigeria’s rich elite are increasingly buying private jets to avoid flying on commercial airlines. “There’s an average of nine aircrafts fixed here in the hangar,” says Peter de Waal of ExecuJet Aviation Nigeria, looking across at a line of sleek…
AFRICA TODAY IS LIKE CHINA IN THE 1980s
In the 1980s, China was far from the economic heavyweight it is today, but it was already in the midst of the economic reforms that would help make it the world’s largest economy by some measures. Today, plenty of retailers, especially…
