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10 African Millionaires Under 40

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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.


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NAEC to Deploy Nuclear Science for Power Generation

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Nigeria Atomic Energy Commission (NAEC), in collaboration with the Centre for Energy Research and Training (CERT) at Ahmadu Bello University, Zaria is set to leverage nuclear science and technology to enhance electric power generation in Nigeria.

NAEC to Deploy Nuclear Science for Power Generation

Prof Yusuf-Aminu Ahmed, chairman of NAEC, made this known during the 20th Anniversary Symposium of Nigeria’s first Nuclear Research Reactor-1 (NNR-1) in Zaria.

Prof Ahmed emphasised the accumulated expertise in nuclear power at the center, asserting Nigeria’s readiness to advance to the next stage of power generation through nuclear reactors. “We have utilised the reactor for research and development extensively, and now we are poised to employ it for electricity generation,” Mr Ahmed stated.

He further disclosed that President Bola Tinubu has tasked the commission with contributing to Nigeria’s clean energy initiatives, with the nuclear energy programme set to play a significant role, and noted the signing of intergovernmental agreements with some vendors.

Sen. George Akume, secretary to the government of the federation, lauded the 20 years of safe operation of the nuclear research reactor as a testament to Nigeria’s commitment to the safe application of nuclear energy.

He underscored that the successful operation of the nuclear research reactor paved the way for considering a nuclear reactor for electricity generation, echoing President Tinubu’s advocacy for nuclear energy in Nigeria’s power sources.

In his remarks, Prof Sunday Jonah, director of the center, highlighted the event’s purpose of celebrating two decades of safe operation, maintenance, and utilisation of the NNR-1.

However, amidst the achievements celebrated, Prof Jonah expressed concern over a purported attempt by NAEC to wrest control of the center from the university through the proposed NAEC Bill 2022 and cautioned that such a move would contradict the original vision of the center’s establishment within universities, designed to foster a culture of research and development.

 

 

 

 

 


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INTERPOL Appoints Uche, Nigerian CP as Chairman, African Heads of Cybercrime Units

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International Police Organization (INTERPOL), has appointed  Ifeanyi Henry Uche, Nigerian Police Commissioner, as the chairman of the African heads of cybercrime units comprising heads of 54 countries.

INTERPOL Appoints Uche, Nigerian CP as Chairman, African Heads of Cybercrime Units

Uche who is the Commissioner of Police in charge Nigeria Police Force National Cyber Crime Centre (NPF -NCCC) is taking over from Ratjindua Tjivikua, head of Cybercrime of Namibia after his tenure expired.

Speaking at the closing of the Africa Working Group Meeting on Cybercrime on Friday, Uche said, “The high penetration rate of new technologies in Africa increasingly exposes the sub-regional cyberspace as potential targets for cybercriminals as most African countries still have low levels of commitment to cybersecurity.

“It is important that we join the operational sub groups created by INTERPOL to bolster our collective efficiency in the fight against cybercrime in the subregion.

He said, “Resource sharing, the level of information and intelligence among African law enforcement is still at its lowest ebb largely blamed on extant domestic laws.

“I advocate for the establishment of African Incident Response Mechanism and Cybersecurity Frameworks on a Police-to-Police basis to eliminate the bottlenecks impeding free flow of resources.

“We must leverage the INTERPOL NCB 1/247 communication network and existing capabilities with regard to sharing of classified intelligence.”

Uche said this should be done with “Establishment of Specialized Cybercrime Units, noting it is rather unfortunate that most African countries do not have a specialized Cybercrime Unit dedicated for the investigation of Cybercrime and cyber-enabled crime. I implore member states to under-study the Nigeria police model of the Nigeria police Force National Cybercrime Center (NPF-NCCC).

“Investment in Technology, Infrastructure and Capacity building through a deliberate effort by member states to make the multi-million-dollar commitment in acquiring the much-needed technology and digital solution as a prelude to efficient cybercrime response and prevention. We must begin to look inwards by developing indigenous technologies to address our peculiar socio-cultural challenges.

“Legislative support to push the advocacy and lobby the governments to make and enforce robust cybersecurity laws and regulations that address cybercrime effectively. This includes laws on data protection, online privacy, electronic transactions, and cybercrime prevention.

“With the Fourth Industrial Revolution and emergence of Al and IOT, the undeniable reality is that the global cyberspace is undergoing profound and rapid changes given the penetration of new technologies and growing interconnection of the system.

“Though this evolution offers opportunities for innovations, diversification, and cost optimization, it also carries with it increased exposure to new and devastating risks of imminent cyber-attacks. These attacks permeate and affect the entire global digital ecosystem equally with no exception to geographic belts hence it affects businesses of all sizes both in public and private sectors in all regions at a breakneck speed.

“Cybercrime poses a significant threat to our societies, economies, and security”,  he said. “it is imperative that we work together to address this growing challenge. As Chairman, I am committed to lead from the front, fostering the much-desired collaboration among our member Units to enhance our collective ability to prevent and investigate cyber crimes effectively in Africa.

“I consider this as a call to champion the enthronement of a new charter of technological renaissance and home-grown cybersecurity ethics in Africa and a paradigm shift from absolute dependence on external solutions to African nurtured technological initiatives, adaptive to our Socio-Political ecosystem.

In her remarks at the event, Hajia Imaan Suleiman Ibrahim, minister of State, Police Affairs, said, “The Government of Nigeria is fully committed to reforming our police force, recognizing that cybersecurity is an integral component of our national security agenda.

“We understand that a secure cyberspace is essential for our immediate and long-term development objectives. Therefore, we are dedicated to enhancing our cybersecurity capabilities, investing in the necessary resources, and fostering collaboration both domestically and internationally.

“Consistent with the Renewed Hope Agenda of Mr President, we are working assiduously to move beyond mere conversations to working with key stakeholders to strengthen Nigeria’s cybersecurity legal and regulatory frameworks.

“We are working to enhance the provision of the requisite tools, equipment, and facilities to strengthen the cybersecurity architecture of the Nigeria Police Force, and we remain committed to regional and international cooperation mechanisms.”


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History as Nigeria Acquire First Cosmic Rays Detector in Africa

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National Space Research and Development Agency (NASRDA) said Nigeria has made history by becoming the first country in Africa to acquire a cosmic ray muon detector to aid climate change and atmospheric research.

History as Nigeria Acquire First Cosmic Rays Detector in Africa

The muon detector acquired by Nigeria for monitoring cosmic rays and space weather was built and designed by the Physics and Astronomy Department of Georgia State University (GSU), USA;  Prof. Babatunde Rabiu, director of UN- African Regional Centre for Space Science and Technology Education in English (UN-ARCSSTEE), a research and development centre of NASRDA, disclosed.

He spoke at a symposium on Cosmic Rays and Space Weather was organised by UN-ARCSSTEE in collaboration with Georgia State University (GSU), USA in Abuja.

According to Prof Rabiu a cosmic ray is a natural radiation that is not ionized in the atmosphere. He added that cosmic rays vary in location, latitude, and altitude of location and can be modified when certain anthropogenic activities occur.

“More than ever, scientists are curious about predicting weather, and studying space weather, especially now that climate change is becoming obvious, which is the condition in outer space.

“Cosmic rays are everywhere and it has to do with the earth, and it is useful in studying the climate but is yet to be fully impacted because it is ongoing research.

“That is why we hope that with the measurements, we are taking with the muon detector, we will be able to have effective predictability of our climate system,’’ he said.

Rabiu, while speaking on space weather activities in Africa, said it dated back to 2004 with the distribution of manometers across Africa by donor agencies.

He said that although few countries in Africa had their Global Navigation Satellite System (GNSS) receivers, the continent needed more monitoring systems for space weather.

Prof. He Xiaochun, director of Physics, at GSU, USA, said the project was targeted at exploring living in space, understanding it, and its adaptation, and providing information for stakeholders to protect and make informed decisions.

Xiaochun explained that cosmic ray radiation, mostly proton particles, is produced far in deep space and gets into the solar system and produces cosmic ray showers in the earth’s upper atmosphere.

“We measure the shower particles at the surface of the earth and decode the state of the space and earth weather.

“One needs a network IP address to be able to share data and reconfigure the detector with remote access,” he said.

Dr Bonaventure Okere, director of the Centre for Basic Space Science and Astronomy, said that the facility would aid astronomy studies and enhance research and development in that area.

The symposium highlighted cosmic radiations, how it interacts with the atmosphere, and environments, the impact of climate change, and how such radiations could be studied and analysed using the cosmic rays muon detector.

The meeting also discussed the need for stakeholders to make informed decisions on the reduction of gas emissions and having clean air for sustainable human development.

 

 

 


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