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Friday, July 29, 2011

Meet Africa's richest man, Onsi Sawiris, and he didn't have to be a Head of State to get there.....

The World's Billionaires

#307 Onsi Sawiris

03.10.10, 06:00 PM EST 

Net Worth:$3.1 bil
Fortune:Self Made
Country Of Citizenship:Egypt
Marital Status:Married, 3 children
Founding patriarch of Egypt's most famous business dynasty; remains chairman. Shares in primary holding, Orascom Construction Industries, have doubled over the past year as projects have picked up. In January announced joint venture with investment bank, Morgan Stanley, to invest in infrastructure assets in the Middle East and Africa. His 3 sons run construction, telecommunications and tourism divisions. Studied agriculture in college after lawyer father urged him to pursue farming. Found it boring, instead opened a small contracting firm in Upper Egypt. Construction baron forced to rebuild empire after it was nationalized in 1960s.

Meet Africa's richest man and he didn't have to be a Head of State to get there.....

Egyptian business magnate Onsi Sawiris and Africa's richest man.
Egyptian business magnate Onsi Sawiris and Africa's richest man.
Of course we have all heard of the vast fortunes stolen form their countries by the likes of Sani Abacha, Mobutu Sese-Seko and other of Africa’s less illustrious sons. We are inundated with tales of massive corruption and blatant greed from across Africa, what we don’t hear enough of those who are the entrepreneurs, the commercial magnates, and the titans of industry.

Well the ClickAfrique team has decided to do just that and we profile Onsi Sawiris who is widely believed to be the richest business magnate in Africa.
Born 76 years ago in the Sohag a predominately Coptic city in Upper Egypt halfway between Aswan and Cairo, Sawiris enjoyed an early life typical of the Upper Egyptian gentry that his family was part of, later on heading off to University where he received a degree designed to prepare him for managing the family’s land holdings. Working on the land however did not appeal to the young Sawiris and instead in turned his mind to construction, setting up a contracting firm, which operated initially in Upper Egypt but later on, moved its operations to Cairo and the delta provinces.
His firm enjoyed a lot of success and benefited from the patronage of the Egyptian government, which meant by the 60’s it had grown into one of the largest construction firms in Egypt. The 60’s however were turbulent times for the country and Sawiris found his firm swept up in the nationalisation fever that swept the country under the leadership of Gamal Abdel Nasser.

Sawiris was forced to work as employee of his now nationalised firm for five years; eventually he was forced to leave Egypt as the situation deteriorated. Sawiris and his family set up in Libya where they lived from 1966 to 1977; there Sawiris was able to rebuild his fortune using his construction expertise to build water works and other construction project for the oil-rich nation.
On return to Egypt, Sawiris began rebuilding his Egyptian operations, taking on complex projects through out Egypt either as the lead contractor or in conjunction with international construction firms. So successful was this growth phase that Sawiris was able to take his firm public in 1999 on the Cairo Stock Exchange. This was also the period that saw the beginning of a greater involvement for his sons, Naguib, Sameeh and Naseef in the business.
Since then the company has expanded into a conglomerate spanning construction, cement, telecommunications, and tourism and operates across the world.
Two companies that have been spawned from the Sawiris’s original business Orascom Telecom and Orascom Construction Industry rate amongst the largest companies in the world. Sawiris will certainly be proud of his success as Forbes Magazine hailed him amongst the riches men in the world with a fortune of $4.8 Billion ranking him as the 129th richest man in the world.

Egyptian movie star ( Randa EL beheiry) pictures

The Rise and Rise of Philip Chiyangwa

Love him or hate him, Phillip “Tsivo” Chiyangwa is undoubtedly a great example of African entrepreneurial success. He has the business acumen and most importantly, the guts to make some very shrewd investment decisions that have seen his empire grow from obscurity to the well renowned Native Africa Investment Group (NAIG). It would never surprise to see NAIG being listed on one of the world exchanges one day.

Chiyangwa did not just find himself where he is today, and at times people speak of him as if banknotes rain in his bed while he is deep in his sleep. His is a case of hard work and determination and having his sights onsuccess. Chiyangwa, unlike most here today gone tomorrow Zimbabwean millionaires who have the tendency to squander seed money, seems knows when and where to spend his money.

Re-investment and venturing into uncharted territory has been the hallmark of his success. The overtly flashy Chiyangwa does so with restraint because there are so many people who never thought Chiyangwa was splashing without touching the base of his finances but most have been proven wrong.

Born in 1959 Phidza has had his share of the hard times, rising from the dusty environs of his village roots in Chegutu, in the Mashonaland West province of Zimbabwe to pride himself of probably one of the best houses in Zimbabwe at the moment. One thing that makes him a genuine and sincere example is that Chiyangwa has never made a secret of his humble beginnings. Neither has he ever hidden his desire to succeed, an outright recipe for success.

Over and above what people know and have seen of him struggled to get where he is now, Chiyangwa has made his own case chronicling how he started off vending vegetables and at times washing cars for those who had them then. One of his only known regular jobs was his short stint in the BSAP in the years to independence in 1980. The rest have been literally scrounging his way to success.

I remember meeting or rather seeing Chiyangwa for the first time in 1990 at the shopping centre in Harare’s Meyrick Park on the outskirts of Malbereign where my uncle used to operate a welding and mechanical workshop. He (my uncle) was doing a gate for Chiyangwa’s Meyrick Park house.

There were a few other businesses running from behind the dura wall and most prominent among them was Green Minicab, a taxi operator. Meyrick Park was a quieter and more secluded version of Warren Park’s Mereki where some of the “boys” in town would converge on the odd weekend to sip cold beers while readily available henchmen roasted chunks of beef and pork for them from conveniently located brae stand.

One by one the nicely polished cars would pull up and get parked carefully as space was limited. Careless parking would always attract the ire of other patrons and nobody dared double parking.

Then on this sunny Saturday afternoon pulled up a gold Mercedes Benz and out of it came a man in a colourful suit and he was almost inatsantly, literally mobbed by everyone who greeted him with great affection. Then a few words with my uncle and he was gone. Later on I asked my uncle who he was and what he wanted.

My uncle replied while pointing to a gate that looked quite massive and said that’s why he was there to check progress and they would be fitting it later on that day. I was surprised that although he seemed quite popular and everyone would have loved him to stay, Chiyangwa made his excuses and sped away.

From then on and into the mid 1990’s I would see Chiyangwa a lot especially in the morning while he drove into town along Sherwood Drive and then into Pat Palmer Avenue. Driving was and understatement because Chiyangwa literally swept past motorists alongside the left verge leaving a cloud of dust.

He would weave in and out of traffic hurriedly if not dangerously, leaving everyone asking themselves if they too were in a hurry. Even when he got into town, Chiyangwa remained an untamed motorist because he had several run-ins with Harare City council parking attendants who found his reckless parking in front of his offices along Samora Machel something of an insult to their profession.

Chiyangwa finally broke on to the national scene in the most prominent fashion when he teamed up with the late Peter “Pams” Pamire to start the Affirmative Action Group AAG. This was a rival business empowerment vehicle that was specifically set up to compete with the now defunct Indigenous Business Development Centre IBDC that was then led by John Mapondera.

The AAG was the more militant and youthful version that catered especially for the young entrepreneurs. Most importantly, the AAG was purely business oriented then, with very little or no dabbling with politics to gain cheap mileage or grabbing the news headlines. Neither the organisation nor its leadership were ever involved in the frogmarching of foreign owned company executives or toy-toying in front of company premises to force them to do business with clients they were uncomfortable with.

There is a confusing or misconceived notion that the naturally entrepreneurial Chiyangwa is successful because of his connection or relationship to President Robert Mugabe. That’s not a very fair assessment in the context of his business success because ZANU PF has actually tended to lean more on Chiyangwa than he on ZANU PF.

There are closer relations of President Mugabe who have also shown similar zeal to venture into business but have not been as successful as Chiyangwa and again this has been purely down to their own business ethics. Notable among President Mugabe’s relations are his nephews especially Leo Mugabe.

Leo is the best example of survival in business through connection because was it not for his name or his uncle, he would not be in business today. I remember his (Leo’s) steel company in Southerton would struggle to pay its suppliers and it would be a real struggle to get any form of payment at all.

Chiyangwa has actually had his own share of ill treatment at the hands of ZANU PF. He was arrested and jailed in 2006 but then went on to be released without charge. If Chiyangwa’s businesses were in any way a direct result of ZANU PF benefaction he couldn’t have left ZANU PF at will because he would have been mortgaged to the party.

Chiyangwa did dabble with politics but he kept his business at arms length and he even admitted after his ordeal that there was nothing to be gained through politics if one wanted to be successful in business. There are times when political power does facilitate the advancement of business interests, but there has to be the business acumen on the ground to meet with that facilitation without there would be no success story.

Most criticism directed towards Chiyangwa seems to be out of petty personal jealousy. Chiyangwa has build a very strong business based on turnover and investment and that is what gives him more money to re-invest into even more ventures. Unlike most children of rich people, most of Chiyangwa’s numerous children have and continue to be moulded into well educated and hardworking young entrepreneurs who remain an integral part of their family empire.

There are so many people who have benefited from Chiyangwa’s exploits through employment that his businesses create. He has helped a lot of young Zimbabweans realise their dreams and potential through investing in entertainment and beauty shows. His involvement with the Miss Zimbabwe pangeant and his sponsorship allowed a lot of Zimbabweans girls realise their dreams and some became household names.

In typical fashion, Chiyangwa brought the late Michael Jackson to Zimbabwe in 2002 and it was an an experience of a lifetime for many Zimbabweans who attended the show at the then Sheraton Hotel. He also had a hand in the promotion of Don Williams who played for charity concerts in Harare in 1997 and those were events that put Zimbabwe on the world entertainment map. Instead of Zimbabweans seeing a lot of bad in Chiyangwa, there are a lot positives that could be drawn from his personal story.

The whole world has people who have helped shape it through their different contribution to its success. He may not be Saint Phillip but Chiyangwa is a classic example of hardwork and determination because so many people never thought he would get far especially because of his big mouth. But he does seem to put his money where his mouth is or maybe is it his mouth where his money is?


Ok ..we landed on this list somewhere on but we aint sure how this list was arrived at....What do you think? Are these the Richest Kenyans for real?

1).Philip Ndegwa family [ICEA, AM bank, Lions of Kenya insurance,Unga group, Riverside park estate,NIC bank,Mitchell Colts, Mackenzie Kenya,East kenya bottlers,Kenya national mills, Howse N Mcgeorge)

2).Manu Chandaria :EA match co, Kaluworks and the 2billion dollaz a year mabati.

3). Simeon Nyachea ( Kabansora, Prime bank

4) Anoop Vohra(Sarova Hotels/Athi river mining co [cement N minerals] / the Avenue Park estate

5). Kentan Somaia (UTC group of hotels)

6). 'sir' Charles Njonjo: (CFC bank, CMC, an 200 hao estate in Kitasuru- lakeside I think, it's right next to Kibaki's estate, Car & General, shares in BA, Barclays Bank & Standard Bank, Brooke Bond, Alico Insurance, Ibonia farms)

7).Chris Kirubi : International Life House, capital fm, DHL Kenya, Haco ind.[think bic biro pens,Gillett razor blades etc], Nai. bldg's, Uchumi shares......

8). Chief Samuel Koriata (The largest land owner in Kenya)

09) Duncan Ndegwa [Unga group, real estate]

[10]. Stanley 'Don King' Githunguri [Lilian towers, tassia coffee estate]

11] Gethere wa Mbugwa family (property in Nai & Mombasa)

[12] Da Gama Rose [computer applications/ grand total of 20 companies]

13] Laxmanbhai Raghvani (contractor))

[14] Naushad Merali :The Sameer czar N probably the richest Kenyan. Kencell, Firestone, Sameer ind. park, Ever-ready Battaries, Equatorial finance co., First Americn bank, Sasini tea & coffee, Ryce motors, Commercial bank of Africa, Marshalls etc etc......

14] The Ramji Shah & Jadavji Rughani family of Sarit Center and text book center

[15] Wilfred Murungi (Mastermind tobacco)

16] John Michuki [Windor hotel]

[17] Mike Maina (Arch Marble N pelican paints)

18] Adbul Jaffer

[19] Mohamed Zubedi

20] Jimmah Mbaru [Jimba group of companies]

[21] SK Macharia [royal card, ribshack, citizen group, AA (kenya)]

22] Lalit Pandit [EABS with assets of 10 billion built Akiba estate
N Fedha'the little lavington',EABS towers N Westminister House in Nai.,Akiba bank 2billion in assest N Mercantile life and General Assurance co.]

[23] Nicholas Biwott ( Lima ltd, yaya centre, Kengeles, construction, property ie he built Nairobi Dam estate, HZ construction, H young)

24] Hayer Bishan singh

[25] Baba Moi & Sons (Kenya) Limited. (half of kenya!. 2 many 2 mention)

26] Tahir Said Sheik

[27] Hosea Kiplagat

28] Mulji Devaj brothers

[29] Ephraim Maina (Kirinyaga construction Ltd)

30] HJ Paunrana Family (Athi river mining company)

[31] Mohamed said Bawazir

32] Nginyo Kariuki (Nginyo towers, hotel)

[33] 'Kinuthia young-trader' [Manga hotels, Hillock inn]

34] Maganlal Chandaria [not related to Manu] : comcraft ind. and madhupaper.

[35] Jerad Kagwana [the Mall, communication centre]

36] Munish Shah [Village market/ kingsway motors/ car tires/ Charterhouse bank]

37] Karanja Kabage [insurance/ KBS]

38] Haban Singh

[39] Philip wahome [Silver Springs hotel, Green hills hotel,Dreams 90,Cafe-D-Paris N real estate, continental bank]

40] Terry Childs (Brookside schools)

[41] Micheal Somen of Hutching Biemer.

[42] Udi Gechaga [Masharik Motors]

[43] Shaukat Noorani [Glory hotels, driving sch. etc]

[44] SS Metha (Construction tycoon)

[45] Nemubhai Shah [Nakumatt supermakets]

[46] Pius Ngugi [Amazon motors'vovlo',Norwich Union bldg., Stedler Pencile Kenya, Kenya nuts company, Thika coffe mills,]

[47] Wilson kipkoti [prudencial bank, standard assurance co.,hotel Sirikwa]

48] Ruben Block (Block family)

49] Kenyatta family.... (thru ENK Holding they own brookside dairy, the 1 billion heritage hotels group, presitige air, Village market, Commercial bank of Africa, pepponi sch., second largest land owners in Kenya, buildings in Nai & Mombasa)

50] Chief Lerionka ole Ntutu (another large scale land owner)

51] David Bowen (Kenya Charity sweepstake)

52] Andrew Muthama [minerals'jemstones']

53] Mulu Mutisya family [half of Ukambani land and every thing that's sold there]

54] Matu wamae [Ngong hills hotel, sera coating, dunlop kenya, coffee plantations]

55] Basil Critico ( land scale land owner)

56} John Kariuki N his brother James Kanyotu [the ex-special branch boss] [have interest in Sarova hotels, Kuni kenya, commercial bank of africa, firestone]

57] MA Bayusuf brothers [fleet of Haulage trucks]

58] Lord Cole (Africa Air Rescue)

59] Salim Alibhai (Salodin paints, Silentnight & Kenya orchards)

60] Davidson Kuguru (Kuguru Food company)

61] Martin Dunford [carni/ Termarid group]

62] Samuel Gichuru

63] Harbinder Seti

64] D*cky Evans (Homegrown)

65] Swale Nguru (mombasa largest prime land owner and easily the most richest man in costo)

66] Chuta's behind horticulture company KHT

67] Vora family (Sarova Hotels)

68] Sunil Behal

69] Edwin Yinda [Hardrock cafes/ shipping magnet/ insurance]

70] Gideon Toroitich (Moi's Nephew Agricultural finance Corporation)

71] The Akasha family (madawa ya kulevia)

72] Humphrey Kariuki [hotel Diplomat/green corner/ property]

73] Abdul Karium Popat [Simba colt motors/ Imperial bank/ 20th. century]

74] Kibathi family (sagret hotels)

75] Kenneth Matiba ( Alliance hotels, Hillcrest schools, College house)

76] John Harun Mwau (kidogo questionable dealer N wheeler)

77] Ngenga Karume: Cianda house., tusker house, coffee plantation,real estate, cianda flowers, clayworks, Jacaranda hotels[mayfair,molo highland inn etc],united finance ltd.......

78] The Kunyiha family {Coopers Kenya Ltd.]

79) Julius Gechau (interest in DT Dobie, Hillcrest group of Schs.)

80) PK Jani ( CFC Bank & heritage insurance)

81) Joshua Kulie (moi's business manager)

90) Kimani wa mbagi (Kenyatta's business manager) -(Agip house & property)

91) The Kantari Family (Prime Bank)

92). The shah family (I&M bank)

93). GK Kirima (property, half of riva rolly)

94). Joe Wanjui ( UAP Insurance, hotels, horticulture)

95). Samuel Gichuru ( KBS, chaka place,

96). Eric Kotut (Goldenberg money)

97). Chamanlal Kamanis: (kamson body builders & anglo licensing)

98). Kamlesh Pattni: (chief architect of goldenberg, Grand regency, Safariland, duty free kenya)

99). George Saitoti: (Goldenberg money, Sulmac, Property in Kileleshwa & Nyali)

100) Mohammed Sajjad (mombasa commodity trader)

Nigerian Celebrities, The Richest Musicians and Entertainers In Nigeria

Don Jazzy -  founder of Mo’Hits, reputed to be one of the best and most sought after producers, showbiz. At age five, Don Jazzy already had eyes for the microphone, the music console and was always in the studio. He was a member of Good Morning Kids, a group created by his father.

Don Jazzy is known for his business dexterity. Little wonder he successfully built Mo’Hits from scratch to become one of the biggest entertainment empires in the country. He recently signed a recording deal with international superstar, Kanye West – a move that not only boosted his reputation as an entertainer, but also his wealth.

D'banj – Popularly known as the Kokomaster or Mr. Endowed, is one artiste that has a penchant for making money. D’Banj certainly has a passion for business. Apart from music, Mr. Endowed has other businesses, which include Koko Mansion, a TV reality show, Koko Lounge, an upscale hangout in Lagos and UK, Koko Foundation, a charity and the recently-launched Koko Mobile under his label christened, Koko.

The bulk of his money comes from endorsements – his endorsement deal with Globacom telecommunications cost N70m. He has a multimillion naira endorsement with an energy drink, Power Fist; a deal with the makers of Virgin Colour soft drink; and another multi-million naira deal with a popular jeweller. He has a deal running into millions with Chris Aire, as the face of his watches and another one with UAC Foods. He collects between N5m and N7m as performance fee for local gigs; $80,000 to $150,000 for African shows; £40,000 to £60,000 for UK shows; and $50,000 to $60,000 for American shows. Like his boss, Don Jazzy, D’banj also bagged a recording deal with Kanye West’s G.O.O.D Music; this will not only boost his career, but also the fee he attracts.

D’Banj once said, “I work hard so that money, awards, endorsements, bookings and kokolets chase me.”

Tuface Idibia - a former member of the band, Plantashun Boyz, is said to be among the richest artistes in the industry, with two platinum records in his kitty. He became the wave in the music industry, after his debut album as a solo artist. The album which include "African blow him across the African continent and the world at large. The song earned him an MTV award, his first international award outside Africa. Tuface is speculated to be worth about N550m. It comes as no surprise as he has had endorsement deals with brands like Guinness, which earned him N20m and Airtel, which earned him N22m this year.

He was also said to have earned N30m from the producers of Phat Girls movie, and charges between N4m and N5m depending on the show. The artiste has invested heavily in real estate and stocks, where he earns big bucks. He once said he was set to recover all the wealth taken from Africa.

Banky W – Also known as Mr. Capable. Banky W has proved to Nigerians that he is capable of being among the richest entertainers in the industry. He makes the bulk of his wealth from gigs. He is said to charge between N2.5m and N3m per show and performs three to four times in a week. He is a brand ambassador of Estisalat, one of Nigeria’s telecommunications giants, where he featured in their popular commercial, 0809ja for life.

He also featured in Coca Cola-Nigeria’s World Cup theme song and Microsoft’s Anti-cyber Crime Initiative. Banky W is an entrepreneur and has invested heavily in businesses that are fetching him good money. As a philanthropist, he founded the Mr. Capable Foundation, where he provides tuition fees for indigent and brilliant students.

P Square – The singing and dancing duo, Peter and Paul Okoye, are unarguably among the richest in the industry. They won the KORA award for Best Africa Artiste 2010. The award came with $1m (N150m). Shortly after, the duo got an endorsement deal with Globacom telecommunications worth about N240m for four years. The hip-hop artistes had one of their greatest international gigs last year. Their American tour of seven cities earned them a whopping $1m (N150m).

After a misunderstanding with their landlord, the duo built a house they named Squareville in the same neighbourhood. The house, which they completed in less than six months, is valued at N300m. They own Rayfield Hotel, Jos, and two multi-million naira factories in the same city, where they built a multimillion naira bakery and sachet water companies for their dad and mum, among other investments. The bulk of their wealth comes from concerts, especially in Africa. The duo have sold above 14 million copies of their CDs since 2005. They are said to charge about N2m per show

P Square No One Like You (Official Video)


Tuesday, July 26, 2011

Strive Masiyiwa, Econet Wireless Executive Chairman, an African millionaire

Founder and chief executive officer, Econet Wireless Holdings
Nationality: Zimbabwean.
Born: 1961, in Zimbabwe.
Education: University of Wales, BS, 1983.
Family: Married Tsitsi (maiden name unknown; director, Econet charitable trust); children: four.
Career: Zimbabwe Posts and Telecommunications Corporation, 1984–1988, senior engineer, then principal engineer; Retrofit Engineering, 1988–1994, founder and CEO; Econet Wireless Holdings, 1994–, founder and CEO; Associated Newspapers of Zimbabwe, 2000–, chairman.
Awards: Businessman of the Year, Republic of Zimbabwe, 1990; Manager and Entrepreneur of the Year, Republic of Zimbabwe, 1998; Ten Most Outstanding Young Persons of the World, Junior Chamber International (JCI), 1999; Global Influentials, Time , 2002.
Address: Econet Wireless International, 107 Johan Avenue, P.O. Box 785743, Sandton 2146 South Africa;
■ Strive Masiyiwa was the maverick founder, chairman, and CEO of Econet Wireless Holdings, a diversified international telecommunications group based in South Africa with operations on three continents. A devout Christian noted for his determination and social conscience, Masiyiwa was called a hero for helping millions of Africans gain access to the modern world through affordable cellular telephones.


Strive Masiyiwa was born in 1961 in Zimbabwe, which was then called Rhodesia. When he was seven, his family fled the country as Ian Smith's embattled government began to crumble. The family settled in Kitwe, a city in north central Zambia known for its copper mines. Masiyiwa's mother was an entrepreneur

Strive Masiyiwa. AP/Wide World Photos.
Strive Masiyiwa.
AP/Wide World Photos

preneur with interests in retail sales, small-scale farming, and transportation. His father worked at first in one of the nearby mines but later joined the family business. By the time Masiyiwa was 12 years old, his parents could afford to provide him with a coveted European education. They sent him to private school in Edinburgh, Scotland. When he graduated in 1978, he traveled back to Zimbabwe, intending to join the anti-government guerilla forces there. "One of the senior officers told me 'Look, we're about to win anyway, and what we really need is people like you to help rebuild the country'" ( Time , December 2, 2002). Masiyiwa took the man's advice and returned to school in Britain, earning a degree in electrical and electronic engineering from the University of Wales in 1983. He worked briefly in the computer industry in Cambridge, England, but soon returned to Zimbabwe in 1984, hoping to aid the country's recovery after the war of independence it had won in 1980.
Masiyiwa joined the Zimbabwe Posts and Telecommunications Corporation (ZPTC), the state-owned telephone company, as a senior engineer. ZPTC quickly promoted him to the position of principal engineer. Masiyiwa became frustrated with the government bureaucracy, however, and left ZPTC in 1988 to start an electrical contracting firm named Retrofit Engineering. He was chosen as Zimbabwe's youngest-ever Businessman of the Year in 1990.


Masiyiwa recognized the great potential for wireless telephones in sub-Saharan Africa because the region had only two fixed-line telephones for every hundred people in the 1990s. He saw that wireless networks would be quicker and less expensive to build than land-based networks that required stringing miles of telephone lines across rough terrain. Wireless telephone service would also be less vulnerable than traditional landlines to the theft of copper wire for resale. Masiyiwa first approached ZPTC about forming a mobile telephone network in Zimbabwe. The company wasn't interested, however, saying that cell phones had no future in the country.
Masiyiwa then decided to create a cell phone network on his own. He sold Retrofit Engineering in 1994 and started to finance Econet Wireless through his family company, TS Masiyiwa Holdings (TSMH). He met with fierce opposition, first from ZPTC, which told him it held a monopoly in telecommunications, and second from the Zimbabwean government, which swamped him with red tape and demands for bribes. As a devout Christian, Masiyiwa was opposed to paying bribes and kickbacks to government officials. He decided to pursue his case through the courts. After a landmark four-year legal battle that went all the way to the nation's Supreme Court, Econet finally won a license to provide cell phone service in Zimbabwe. The court declared that the government monopoly on telecommunications had violated the constitution's guarantee of free speech. Econet's first cell phone subscriber was connected to the new network in 1998.
While Masiyiwa waited to gain the government's approval for operations in Zimbabwe, he was able to start a cell phone network in neighboring Botswana. Econet Wireless Holdings then established a presence in over 15 countries, including other African nations, New Zealand, and the United Kingdom. The company also diversified into satellite communications, fixed-line telephone services, and Internet service.
Masiyiwa decided to relocate his family and the Econet headquarters to the Republic of South Africa in 2000. Some observers suggested that he was going into exile from his homeland once again. Masiyiwa himself said simply that South Africa was the best place from which to launch a multinational corporation because it had the continent's most vibrant economy.


Masiyiwa further antagonized the Zimbabwe government when TSMH bailed out the financially strapped opposition newspaper, the Daily News . Masiyiwa eventually became a major shareholder in the newspaper's parent company, Associated Newspapers of Zimbabwe, as well as the company's chairman. The government responded by shutting down the newspaper in the fall of 2003. The paper continued to publish sporadically, though, through early 2004, and maintained an online version from South Africa. Masiyiwa sued for permission to restart the presses in Zimbabwe. The Zimbabwean government countered by starting criminal proceedings against fourDaily News directors in June 2004 on charges of illegally publishing the paper without a license. Government officials also threatened to revoke Econet's license to operate in Zimbabwe at that time.
The board of directors of Econet Wireless Nigeria (EWN), a company in which Masiyiwa held a stake, ousted him in 2003 when he failed to acquire necessary financing. A critic told South Africa's Financial Mail that Masiyiwa "'talks up a storm' but often falls short on his promises to raise capital" (December 5, 2003). The board turned instead to Vodacom, a large South African telecommunications firm, which agreed to provide capital in return for management rights. According to the New York Times , however, Masiyiwa vowed to regain control of EWN. He said, "We've taken on Goliaths before" (January 15, 2004).

"Strive is driven by focus, determination and passion," Norman Nyazema told the Financial Mail . "Failure is not an option, no matter how many obstacles are thrown in his way" (December 5, 2003). Nyazema, who was a professor of pharmacology at South Africa's University of the North and chairman of Econet Wireless Zimbabwe (EWZ), had gone to school with Masiyiwa.
In the early months of 2004 Econet signed a 50/50 joint-venture agreement with Allied Technology (Altech), a South African information technology company. With Altech's capital and Econet's experience in telecommunications, the new company—dubbed Newco—announced its intention to pursue an aggressive expansion strategy in the developing countries of Africa and Asia.
Masiyiwa became a role model for other young African entrepreneurs through his vision and persistence. He won numerous national and international honors, including a place on Time magazine's list of the world's most promising young executives in 2002. Masiyiwa attributed his success in part to the ethical integrity he developed through the devotional practice of reading the Bible for an hour every morning. He served on the boards of such international development agencies as the Southern African Enterprise Development Fund and the Rockefeller Foundation. He and his wife Tsitsi also founded and funded a charitable trust that had provided scholarships for more than five thousand AIDS orphans as of 2003.

STRIVE T. MASIYIWA joined the Rockefeller Foundation board of trustees in 2003.
Mr. Masiyiwa is founder and Executive Chairman of South African-based, diversified international telecommunications group Econet Wireless. Under his leadership and guidance, Econet Wireless has developed, since its formation in 1993, into a global telecommunications enterprise with a presence in more than 15 countries in Africa, Europe and the East Asia-Pacific region. The company operates in the core areas of mobile cellular telephony, fixed public networks, and internet and satellite services. A recognised entrepreneur, Mr. Masiyiwa has also been involved in the development of Africa’s independent media.
He is a well-known international business leader who has won international recognition and numerous awards for business excellence.  In 1999 he was named by the Junior Chamber International (Jaycees) as one of the “Ten Most Outstanding Young Persons of the World.” In 2003 he was chosen as one of the “15 Global Influentials of the year” in a CNN/Time magazine poll.
Over the years Mr. Masiyiwa has served on many international boards, and has also been involved in numerous initiatives to promote entrepreneurship and social development in Africa. He is currently on the boards of the Nelson Mandela Advisory Committee and Endeavor SA.
Outside his business interests, Mr. Masiyiwa is also active in promoting awareness of the impact of AIDS in Africa.  A foundation he and his wife founded and fund currently provides scholarships to more than 25,000 orphans.
As one of the most respected African business leaders today, Mr. Masiyiwa speaks regularly on African business at major international business gatherings and has been regularly featured in leading international publications and television programs, among them the EconomistNewsweekBarron’s of New YorkFinancial Times and CNN


Saturday, July 2, 2011

Julius Malema, ANC Youth League South Africa, millions, houses, cars, watches, fame and bling

Breitling Watch: R250 000
By Angelique Serrao
You do the maths ...

  • Two houses: R4,6m

  • Cars: R1,2m plus
    Car: R1.2million plus

  • Breitling watch: R250 000

  • Monthly salary: R20 000

    Julius Malema, the ANC Youth League president, owns two multimillion-rand homes - both of which he bought for cash.
    This disclosure, which adds to questions surrounding how the youth league president affords his lavish lifestyle, comes just a day after Finance Minister Pravin Gordhan announced that targeted lifestyle audits would be conducted this year.
    The Star has discovered that Malema bought his three-bedroom home in Sandown for R3,6-million in December last year.
    And, according to the Deeds Office, he owns two houses. The other is a mansion he bought in Polokwane in 2007 for R1m.
    The house in Sandown is in Silvela Road and the Deeds Office indicates that he bought it for R36m. But according to the previous owner, the house was sold for R3,6m.
    The Sandown house has been described as luxurious, with three bedrooms, an office, a TV room, a lounge, a pool and a large garden.
    It is the same house in which Malema held a controversial house-warming party in September last year.

    A police reservist said at the time that he was assaulted by the youth league leader. Neighbours complained about the noise and mess that Malema's party had caused. It was a sophisticated bash. YFM DJ Oskido provided the music, and guests were treated to R700-a-bottle Johnnie Walker Gold Label whisky and Mo√ęt et Chandon French Champagne.
    When asked how he could afford to buy a R3.6m house cash, Malema reacted angrily.
    "You and your husband and your family - that's who you need to write about. You go away, just go away," he said before slamming down the phone.
    ANC Youth League spokesperson Floyd Shivambu said The Star was being nonsensical. "I think you need to rethink what you are doing. What business is this of yours? How dare you call me and ask for comment on this?"
    It's not the first time questions surrounding the scale of Malema's lifestyle have emerged.
    Sources in the youth league have said he earns R20 000 a month.
    At the same time that the transfer of the Sandown house went through, Malema attended a press conference in a Gucci suit, and sported a Breitling watch worth about R250 000.
    The 28-year-old politician owns a black Mercedes-Benz AMG, which retails at R734 000, and reportedly drives an Aston Martin and a red Range Rover Sport, too. Last night he went to a lecture at Wits University in a brand-new white Range Rover - with no number plates - which sells for R1,2m.
    Malema is the director of four companies: 101 Junjus Trading CC, Blue Nightingale Trading 61, Ever Roaring Investment and SGL Engineering Projects.
    DA youth league leader Khume Ramulifho said he had heard that Malema earned a lot more than the R20 000 he claims.
    "It is said that he earns as much as a minister, and that is why he will not go to Parliament or take up any other office," said Ramulifho, who owns one car - an Audi A4 - and a house in Riverlea
    His Sandton mansion!

    With all the talk of "benefiting under Apartheid", I thought it would be good to take a look at Malema's house in Johannesburg. Apparently he only earns R20,000 per month (approx $2,800). I must have missed the "benefit" boat somewhere.

  • Just look at that, nice nehhhhhhh, I love the mountain views….

    Now this is really funny. The guy built a room for his car, not a garage people, a room upstairs for his range rover sport. Sho ha ke tsebe he hore ke chelete kapa o rata koloi ya hae nahhh???


    Look at the room upstairs
    I thought that was funny enough until I saw his car REGISTRATION.

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