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10 African Millionaires Under 40
Nothing beats being young and rich. While most people attain multi-million dollar and billion dollar fortunes in their 40s and 50s, a few savvy entrepreneurs hit the big time while in their 20s and 30s.
Mfonobong Nsehe, who contributes for Forbes reported that there are a handful of young African entrepreneurs who’ve legitimately built multi-million dollar companies while in their 20s and 30s.
A few of them have taken the helm of small companies and spun them into companies with valuations of $1 billion or more.
All aged 39 and under, they are worth watching closely.
Mohammed Dewji, Tanzania: Manufacturing
Dewji, 38, a Tanzanian businessman and politician, is the CEO and leading shareholder of Mohammed Enterprise Limited (METL), one of the largest industrial conglomerates in East Africa.
His father, Gulam Dewji, founded the conglomerate decades ago as a trading company but ‘Mo’ as he is popularly called, now calls the shots.
He was solely responsible for engineering the group’s transformation from a trading house to a manufacturing powerhouse.
METL, which records an annual turnover of close to $2 billion, owns 21st Century Textiles, one of the largest textile mills in sub-Saharan Africa by volume.
The group also manufactures soap, beverages, edible oils and other food products as well as bicycles and motorcycles.
Other assets include an insurance firm, a petroleum marketing outfit and a container depot in Tanzania’s capital city of Dar Es Salaam.
The group employs over 24,000 full-time employees. Mo Dewji is a World Economic Forum Young Global Leader and a Member of Parliament for Tanzania’s Singida Urban constituency.
(I met with Dewji in Tanzania recently and will be writing a detailed piece on Dewji’s business holdings).
Igho Sanomi, Nigeria: Oil Trading
In 2004, Igho Sanomi founded the Taleveras Group, a Nigerian energy trading company. Taleveras trades over 100 million barrels of crude oil as well as several million tons of gasoline, LPG and jet fuel.
In April 2012, Taleveras acquired production sharing contracts (PSCs) for three offshore oil blocks in Ivory Coast.
In June 2013, Taleveras sold a 65% stake in one of its Ivorian offshore upstream projects to Lukoil of Russia for an undisclosed price. Taleveras also owns a stake in a power distribution firm in Nigeria. Sanomi is 38 years old.
Quinton van der Burgh, South Africa: Mining
The 36 year-old South African coal magnate is the founder and chairman of Quinton van der Burgh Investments, a diversified holding company that is the controlling shareholder in Eyethu Coal, a company that mines coal in South Africa’s Mpumalanga region. Eyethu owns two operational mines and is a major supplier of coal to Eskom, South Africa’s dominant power provider.
Van der Burgh’s portfolio also includes Iyanga Coal- a company that owns a mine with proven reserves of 18 million tons of coal and Burgh Plant Hire- a company that leases earth-moving equipment to clients like BHP Billiton, Xstrata and Anglo-American.
Van der Burgh is also a TV personality. He stars in Clifton Shores, an American/South African reality show filmed in Cape Town.
Gerald Wamalwa, Kenya: Engineering & Construction
In 2003, at age 28, Gerald Wamalwa quit his job as a field civil engineer and went on to start Mellech, an engineering outfit.
Today, Mellech Engineering & Construction is now one of East Africa’s leading construction and infrastructure engineering company.
The company offers services in the construction of building projects, roads, and water & sewer projects and related civil engineering infrastructure projects in Kenya, Southern Sudan and Uganda and grosses over $11 million a year revenues.
Wamalwa also owns ACP Telecoms, a company that provides turnkey telecommunication network infrastructure solutions.
Sibongile Sambo, South Africa: Private Aviation
Sibongile Sambo, 39, is the founder of SRS Aviation, a successful South African private aviation company. SRS started off in 2004 by brokering contracts between aviation services and those with air-transport needs. Later in the year, when the South African government invited aviation service companies to bid on a lucrative contract for cargo transport, SRS won the bid. Over time, SRS morphed from its cargo business into an integrated provider of private aviation services. SRS now offers clients from Southern Africa professional and personal flight options to international destinations including VIP Charter, tourist charter and helicopter services. The company also provides maintenance, sales and fleet management services to private jet owners. SRS refused to disclose revenues, but a source in the company says annual revenues are several million dollars.
Khanyi Dhlomo, South Africa: Publishing
The Harvard MBA grad and South African media mogul began her career as a news presenter at SABC, the television station owned by the South African government, at age 20 while she was still a journalism student at the University of Witwatersrand.
She went on to become the editor of True Love, a popular South African women’s magazine at age 22. In 2007, she founded Ndalo Media, a 50-50 joint venture with Media 24, the publishing arm of Naspers, Africa’s largest media company.
Ndalo Media publishes Destiny and Destiny Man, two of South Africa’s most popular lifestyle magazines. Ndalo also publishes Sawubona, the in-flight publication for South African Airways, which is distributed on all local and international SAA flights.
She also owns Luminance, a startup high-end fashion and lifestyle store in South Africa.
Patrick Ngowi, Tanzania: Alternative Energy
Ngowi, a 28 year-old Tanzanian, is the founder of Helvetic Solar, East Africa’s leading renewable energy company. Companies in the group are involved in the handling, supply, installation and maintenance of hydro turbines, solar power and thermal systems in East Africa.
According to Ngowi, Helvetic’s revenues are expected to hit $7 million before the end of this year and the company is extremely profitable.
The company’s major clients include the United Nations, World Vision and the Tanzanian Army. An emerging philanthropist, he offers basic lighting facilities to Tanzania’s rural poor through his Light For Life foundation.
Ken Njoroge, Kenya: Mobile technology
Njoroge, 37, is the founder of Cellulant, a leading Pan-African mobile commerce company that manages, delivers and bills for content and commerce services over mobile networks.
Cellulant provides mobile banking, mobile payments, music, information services and other mobile related services.
Njoroge founded the company in 2004 along with a Nigerian partner, Goke Akinboro. It now has a presence in 8 African countries and boasts a clientele of African blue-chips like Barclays Bank, Standard Chartered, MTN and other companies. Cellulant’s revenues for 2012 exceeded $120 million.
Colin Thornton, South Africa: Computer Services
In 1998, when he was 20, South African computer whiz Colin Thornton dropped out of the University of Witwatersrand where he was pursuing a BSc in Computer science.
He raised $1,000 (R5, 000) from friends and family to print out flyers and other marketing material promoting his startup company which would fix computers.
Today, that company is Dial-A-Nerd, a company that provides computer support services dedicated to homes and businesses.
Dial a Nerd’s team of mobile technicians are able to repair, build, upgrade or even replace PCs at your premises. The company has annual revenues of close to $10 million, 14 branches and 150 staff.
Alan Knott-Craig Jr., South Africa: Technology, Investments
The 36 year-old South African entrepreneur is the founder of World Of Avatar (WOA), the private investment holding company that acquired MXit from Namibian founder Herman Heunis and Naspers for $50 million in August 2011.
Mxit is a mobile instant messaging services which offers social networking, mobile voice clips, music & entertainment, banking access and other community-based applications.
It currently has over 20 million users. Alan also has stakes in popular South African online publication Daily Maverick; advertising network Shinka, which sells ad space on MXit; and market research company Pondering Panda. Alan is a 2009 World Economic Forum Young Global Leader.
News
INTERPOL Report Shows AI Powers 55% of Cybercrimes in Africa Amid $484m Losses

INTERPOL’s African Cyberthreat Assessment Report 2026 revealed that Artificial intelligence accounts for 55 per cent of reported cybercrimes across Africa and making attacks faster, more sophisticated and increasingly difficult to detect.

The report warns that the continent’s rapid digital transformation, marked by more than 1.1 billion mobile subscribers in 2025, is being matched by an equally rapid evolution in cybercrime, while fragmented legislation and limited AI readiness among law enforcement agencies continue to weaken responses.
The 40-page assessment, based on survey data from 36 African member countries, said cybercrime has shifted from isolated criminal activity to an industrialised, borderless ecosystem powered by AI.
According to the report, East Africa has become a hotspot for mobile money fraud and ransomware attacks targeting critical infrastructure, while business email compromise (BEC) and romance scams are widespread across Central and West Africa.
Southern Africa, it noted, has become an attractive target for international cybercriminals due to its high level of internet connectivity.
The report also highlighted the growing financial impact of cybercrime across the continent, revealing that losses have more than doubled since 2024, rising from 192 million dollars to 484 million dollars.
It attributed the increase largely to AI-enabled scams, credential harvesting and automated social engineering attacks.
INTERPOL said online scams remained the most commonly reported form of cybercrime in 2025, with criminals exploiting mobile money platforms, social media and AI-generated content to deceive victims.
It added that 72 per cent of surveyed countries reported the existence of scam centres, with the highest concentration recorded in Southern and West Africa.
The report further identified digital sextortion and online harassment as persistent threats, driven increasingly by AI-generated deepfakes and synthetic media.
According to data from TrendAI, one of INTERPOL’s partners, about 600,000 sextortion incidents were detected during the reporting period.
Business email compromise schemes have also become more sophisticated, with AI being used to generate highly convincing email communications.
The report said Africa-based threat actors are increasingly targeting victims in Europe and North America using cyber infrastructure spread across multiple jurisdictions.
INTERPOL warned that the absence of real-time information sharing between banks, telecommunications companies and law enforcement agencies has created significant vulnerabilities in tackling financial cybercrime.
It said cybercriminals are no longer relying solely on stolen credentials but are now creating AI-generated synthetic identities by combining genuine personal information with fabricated details.
These synthetic identities, the report noted, have been used to bypass biometric verification systems, open bank accounts, obtain mobile loans and register SIM cards under false identities.
Neal Jetton, Director of INTERPOL’s Cybercrime Directorate, described cybercrime as one of the most significant criminal threats facing Africa.
“Cybercrime has emerged as one of the most significant criminal threats to the region. AI is automating every stage of a cyberattack from reconnaissance and phishing to extortion and evasion.
“However, we see that when countries work together, cybercriminal infrastructure can be identified, disrupted and dismantled,” he said.
Despite the growing threat, the report highlighted progress in strengthening cybersecurity across the continent.
It disclosed that 17 African countries enacted or amended cybercrime legislation in 2025, while Senegal launched an online reporting platform to improve responses to online offences affecting children.
The report also noted that regional capacity-building initiatives are helping to improve long-term cyber resilience.
INTERPOL said four major cybercrime operations conducted in 2025, Operation Serengeti 2.0, Operation Contender 3.0, Operation Sentinel and Operation Red Card 2.0, resulted in more than 1,500 arrests, the seizure of hundreds of electronic devices and the recovery of over 100 million dollars.
To address the growing threat, the report recommended the adoption of standardised digital forensic capabilities, stronger cross-border collaboration, greater investment in AI literacy for law enforcement personnel and formal public-private partnerships to improve cybercrime prevention, detection and response.
The African Cyberthreat Assessment 2026 forms part of INTERPOL’s African Joint Operation against Cybercrime initiative, funded by the United Kingdom’s Foreign, Commonwealth and Development Office, with data contributions from Fortinet, Mastercard, the Shadowserver Foundation, S2W and TrendAI.
News
Nigeria Expands Deep-tech Skills Pipeline

Nigerian students will soon design, assemble, test and fly drones as part of their university education, following a partnership between Miva Open University and Abuja-based defence technology company Terra Industries.

The collaboration comes as Nigeria intensifies efforts to develop indigenous capabilities in advanced manufacturing and defence technology, with both organisations seeking to strengthen Africa’s pipeline of deep-tech talent.
The partnership will see students gain hands-on experience in drone engineering and related technologies through dedicated labs and industry collaboration.
The partners will establish robotics, drone and virtual reality laboratories across Miva’s study centres, beginning with a pilot facility in Abuja.
Students will also gain access to industry-led workshops, research opportunities, internships and mentorship in artificial intelligence, robotics, cybersecurity and autonomous systems.
According to the partners, Terra’s engineering teams will work alongside Miva faculty to integrate hands-on hardware training into academic programmes, exposing students to real-world engineering challenges and building industry experience before graduation.
Nathan Nwachuku, co-founder and CEO of Terra Industries, said Africa’s technological future depends on developing engineers capable of building solutions for local challenges.
“The engineers who will build Africa’s future must learn by building. This partnership creates opportunities for students to work with the technologies shaping modern security, infrastructure and autonomous systems,” said Nwachuku.
Miva Open University said the initiative forms part of its commitment to experiential learning, adding that students will have the opportunity to “design, test and fly drones as part of their academic experience”.
The partnership builds on Terra’s expanding role in Nigeria’s defence technology sector. Earlier this year, the company signed a joint venture with the Defence Industries Corporation of Nigeria to localise the production of drones, robotics systems and cybersecurity infrastructure, supporting efforts to strengthen domestic manufacturing and reduce reliance on imports.
News
Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
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