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Saturday, September 24, 2011

Cyril Ramaphosa, African Entrepreneur

Born: November 17, 1952, Soweto
Company: Shanduka Group, Millennium Consolidated Investments
Position: Chairman
Industry: Investments, Media
Country: South Africa

Matamela Cyril Ramaphosa was previously a major figure in South African national politics, and has in recent years become a prominent member of the business community.
He has held executive positions in numerous political organisations in South Africa beginning as a student leader. In 1982, he became the first General Secretary of the National Union of Mineworkers. Mr. Ramaphosa was elected ANC Secretary-General in 1991.
The Shanduka Group is a leading African black owned and managed investment company established in November 2000. Their investment portfolio comprises Resources, Financial Services, Property, Energy, Beverages and Industrial & General.
Millennium Consolidated Investments is the exclusive investment vehicle of Cyril Ramaphosa, which was incorporated in March 2001. Cyril is the Chairman of MCI as well as the single largest shareholder in the company.
Ramaphosa is a member of the advisory boards of the Sanlam Development Fund and the AIG Africa Infrastructure Fund, the Deputy Chairman of Rebserve Holdings Limited, Chairman of Johnnic Holdings Limited and a board member of SAB plc, First Rand Limited and SASRIA.
He is the past Chairman of the Black Economic Empowerment Commission, a past Deputy Executive Chairman of New Africa Investments Limited and has held various leadership positions in the National Union of Mineworkers.
He is also well known for the pivotal role he played as a member of the Constituent Assembly that drafted South Africa's constitution. He is National Executive Member and former Secretary General of the African National Congress (ANC). Mr. Ramaphosa has a bachelor's degree in law from the University of South Africa.
Ramaphosa is a member of the Coca-Cola Company International Advisory Board as well as the Unilever Africa Advisory Council. He was also the first deputy chairman of the Commonwealth Business Council.

Along with the ex-president of Finland, Martti Ahtisaari, he was appointed an inspector of the Irish Republican Army weapons dumps in Northern Ireland. Ramaphosa also sits on the International Commission on Intervention and State Sovereignty and is the Honorary Consul General for Iceland in South Africa.

Sifiso Dabengwa, Group President and CEO of MTN Group


Born: 1958, Zimbabwe,
Company: MTN Group,
Position: Group President and CEO,
Industry: Telecommunications,
Country: South Africa

Sifiso Dabengwa
Sifiso Dabengwa is Group President and CEO of MTN Group, Africa's leading telecommunications provider, operating in 21 countries across the region. He was appointed Group President and CEO of MTN Group effective April 1, 2011. Mr. Dabengwa had been MTN’s COO and has been with the group for 11 years.
Prior to joining MTN Group in 1999, Mr. Dabengwa was employed at South Africa’s electricity generator Eskom as Executive Director.
Mr. Dabengwa holds B.Sc. in Electrical Engineering, MBA from the University of Witwatersrand and EDP.

Susan Mashibe, a Fortune Most Powerful Women


Born: Kigoma,Tanzania,
Company: TanJet,
Position: Founder & Executive Director,
Industry: Aviation & Aerospace,
Country: Tanzania

Susan Mashibe is the founder and executive director of Tanjet, an international Fixed Base operations service, providing logistical support for corporate, diplomatic, and private jets. TanJet  is the first company of its kind in Tanzania and has transformed the way business aviation operates in East Africa. Tanjet’s clients include Heads of State, monarchs, Fortune 500 executives, celebrities, and military flights. She founded Tanjet in 2003.
Ms. Mashibe is also the owner of Kilimanjaro Aviation Logistic Center, a company that processes landing and overflight clearances for private jets throughout the African continent.
Ms. Mashibe was recently recognized by World Economic Forum as a 2011 Young Global Leader. The honor recognizes up to 200 outstanding young leaders from around the world for their professional accomplishments, commitment to society and potential to contribute to shaping the future of the world.
She was also recognized as a Fortune Most Powerful Women Mentee, Tanzania women of Achievement Award, Women in Aviation Int'l Achievement Award and Archbishop Tutu Fellowship.
She’s a Undergrad, Aviation, Western Michigan University. FAA certified commercial pilot and aircraft maintenance engineer, first female with such qualifications in Tanzania.

Tuesday, September 20, 2011

Africa’s Billionaires of 2011 – Nigerian Emerges as Africa’s Richest Man

Africa’s Billionaires on the Forbes list made records this year with a few surprises. 6 new Billionaires added to last year’s list of 11 bringing them to 17 Billionaires. Topping the list is Nigeria’s Aliko Dangote who displaced Ethiopian Self Made Billionaire, Mohammed Al Amoudi as Africa’s Richest man.
Although no other countries from Africa added to the list this year, Egypt managed to double its Billionaires from 4 to 8. Nigeria and South Africa also gained 1 new billionaire addition to the list. Overall African Billionaires on this year’s list are worth a combined 71 Billion, with last year’s billionaires alone increasing their wealth by a combined 18 Billion. The biggest increase was experience by our new Richest man, Dangote who made 10.7 Billion, putting him at the top of the list making him number 51 on the World’s Richest list.
NameAfrica RankForbes RankNet WorthAgeSourceCountry of Citizenship/HomeTown
Aliko DangoteAliko Dangote151$13.8 B53sugar, flour, cementNigeria
Mohammed Al AmoudiMohammed Al Amoudi263$12.3 B66oilSaudi Arabia/Ethiopia
Nicky Oppenheimer & familyNicky Oppenheimer & family3136$7 B65De BeersSouth Africa
Nassef SawirisNassef Sawiris4182$5.6 B50constructionEgypt
Patrick Soon-ShiongPatrick Soon-Shiong5196$5.2 B59generic drugsUnited States/South Africa
Johann Rupert & familyJohann Rupert & family6219$4.8 B60luxury goodsSouth Africa
Naguib SawirisNaguib Sawiris7310$3.5 B56telecomEgypt
Patrice MotsepePatrice Motsepe8336$3.3 B49MiningSouth Africa
Onsi SawirisOnsi Sawiris9393$2.9 B81constructionEgypt
Mohamed MansourMohamed Mansour10595$2 B63DiversifiedEgypt
Mike AdenugaMike Adenuga10595$2 B57telcom, banking, oilNigeria
Yasseen MansourYasseen Mansour11692$1.8 B49DiversifiedEgypt
Yasseen MansourYoussef Mansour11692$1.8 B65DiversifiedEgypt
Mohammed IbrahimMo Ibrahim11692$1.8 B64communicationsUnited Kingdom/Sudan
Christoffel WieseChristoffel Wiese12782$1.6 B69consumer retailSouth Africa
Samih SawirisSamih Sawiris13879$1.4 B54hotelsEgypt
Mohamed Al Fayed & familyMohamed Al Fayed & family14993$1.2 B78RetailEgypt

Africa’s Billionaires of 2010

It must be nice to be Ethiopian Self Made Billionaire, Mohammed Al Amoudi, Africa’s Richest man. His wealth grew by a billion despite the economic downturn. It is that time of year again and Forbes has put together a list of the World’s richest. On it are 11 Africans 4 from one family in Egypt, 4 from South Africa, 1 from Sudan, 1 from Nigeria and 1 from Ethiopia.
There was 1 new addition to the list this year, Samih Sawiris, son of Egyptian billionaire, Onsi Sawiris whose other 2 sons are on the list as well. Nigeria did loose a billionaire this year, Femi Otedola who had a bitter disagreement with fellow billionaire Aliko Dangote last year. Despite some major challenges, Dangote still made it on the list as the 9th richest man in Africa.
Photo By Hans Berggren
Africa’s Billionaires (No. 1)
  • Name: Mohammed Al Amoudi
  • Net Worth: 10 Billion
  • Origin: Ethiopia
  • Age: 65
  • Fortune: Self Made
  • Source: Oil
  • Education: N/A
    Forbes World Ranking #64

AP Photo
Africa’s Billionaires (No. 2)
  • Name: Nassef Sawiris
  • Net Worth: 5.9 Billion
  • Origin: Egypt
  • Age: 48
  • Fortune: Inherited and Growing
  • Source: Construction
  • Education: Bachelor of Science

AP Photo
Africa’s Billionaires (No. 3)
  • Name: Nicky Oppenheimer & Family
  • Net Worth: 5 Billion
  • Origin: South Africa
  • Age: 65
  • Fortune: Inherited
  • Source: Metals and Mining
  • Education: Bachelor of Arts / Science and Master of Arts

Photo from
Africa’s Billionaires (No. 4)
  • Name: Patrick Shoo-Shiong
  • Net Worth: 5 Billion
  • Origin: South Africa
  • Age: 58
  • Fortune: Self Made
  • Source: Generic Drugs
  • Education: Bachelor of Arts / Science; Medical Doctor

Africa’s Billionaires (No. 5)
  • Name: Onsi Sawiris
  • Net Worth: 3.1 Billion
  • Origin: Egypt
  • Age: 80
  • Fortune: Self Made
  • Source: Construction
  • Education: N/A

AP Photo
Africa’s Billionaires (No. 6)
  • Name: Naguib Sawiris
  • Net Worth: 2.5 Billion
  • Origin: Egypt
  • Age: 55
  • Fortune: Inherited
  • Source: Telecom
  • Education: Bachelor of Arts / Science; Master of Science

Photo by 2010 FIFA World Cup Organising Committee South Africa/Getty Images
Africa’s Billionaires (No. 7)
  • Name: Johann Rupert & Family
  • Net Worth: 2.3 Billion
  • Origin: South Africa
  • Age: 59
  • Fortune: Inherited
  • Source: Luxury Goods
  • Education: Bachelor of Arts / Science

Africa’s Billionaires (No. 8)
  • Name: Patrice Motsepe
  • Net Worth: 2.3 Billion
  • Origin: South Africa
  • Age: 48
  • Fortune: Self Made
  • Source: Mining
  • Education: Bachelor of Arts / Science; Doctor of Jurisprudence

Africa’s Billionaires (No. 9)
  • Name: Aliko Dangote
  • Net Worth: 2.1 Billion
  • Origin: Nigeria
  • Age: 52
  • Fortune: Inherited
  • Source: Sugar, Flour, Cement
  • Education: N/A

Sipa Press/Newscom
Africa’s Billionaires (No. 10)
  • Name: Mohammed Ibrahim
  • Net Worth: 2.1 Billion
  • Origin: Sudan
  • Age: 64
  • Fortune: Self Made
  • Source: Communications
  • Education: Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering

Arnd Wiegmann / Reuters
Africa’s Billionaires (No. 11)
  • Name: Samih Sawiris
  • Net Worth: 1.5 Billion
  • Origin: Egypt
  • Age: 53
  • Fortune: Inherited
  • Source: Hotels
  • Education: Bachelor of Science/Electrical Engineering; Masters/Electrical Engineering

Wednesday, September 14, 2011

The Successful Habits of African-American Millionaires

Interesting. I normally pride myself on operating under the radar, but Dennis Kimbro, one of the two authors of Think and Grow Rich: A Black Choice, has figured me out…well almost. I imagine the bulk of Black millionaires are over 30, probably early 40′s, and embrace sports and golfing and tennis because they can’t move like they used to. Maybe they’re all family men and women, have or had positions of influence within a corporation, and left the hood so to speak; thus, subject to being under the influence of their Caucasian counterparts and suddenly love golf and tennis as sports.

I too, attend a local church at least twice weekly. Men’s bible study surely helps curb the usual, worldly temptations that power, prestige, and the ability to purchase property typically offer. I definitely slip in and out the back, low-key, and would rather have coworkers, family, and friends thinking I’m broke rather than affluent.

I hate to admit this, but Black folks can be a jealous, hateful bunch sometimes. I have family members that I haven’t seen in years talk trash behind my back, suggesting I’m living check to check because I don’t advertise my wealth in terms of clothing, cars, and jewelry. Image is not everything; stop watching BET videos.

In fact, I would argue that most millionaires are minimalists: financially, professionally, and personally. I genuinely embrace the concept of living lean because that’s how a millionaire runs his business, efficiently. Their checkbook and investment portfolio aren’t too far behind.Professionally, millionaires are often pretty good at calculating shortcuts. We’ll observe the business model and identify its cost driver and exploit it for success. Personally, it’s a lot cheaper to know someone that owns a yacht and condo in Maui, than owning it yourself-even if you’re a millionaire.

The Habits of African-American Millionaires (per Dr. Dennis Kimbrow, 3.5 years of data):
All surpassed SAT scores > 1000
Collegiate G.P.A. circa 2.9 (males) 3.4 (females)
At least 3.5 hours of physical activity per week
All earned at least a 100k/annually by 30
Appraised value of home valued at 300k or less (I bet nearly every American falls in the category!)
Attends church at 2x weekly
Attends a small church comprised of 2,500 people or less.
Get up at 5:30 and go retire by 11:00 p.m.
Most, modest, unassuming, and humble
Less than $10,000k in credit card debt
69% finished or attended college
One out of 5 Black millionaires were business majors.
Own 4 cars, one of which is a Lexus or Mercedes.
10-15% to charity (males) and 10-15% to church (females)
Men buy clothing off the rack, while women love the brands, St. John, Dolce & Gabbana, Gucci
Average Black millionaire is 52 years of age
Normally created 18 businesses or money-making ideas that are not successful until 18th attempt
3.2% of Black millionaires file for bankruptcy
Suits are often not worth more that $400 retail
Car is usually 5 years old
Married for at least 20 years

Most are confirmed. I’m not a business major though, but have always been interested in business. I always thought a bachelors degree in business, or anything else besides a STEM coursework (science, technology, engineering, and mathematics), would be too general and expendable in today’s struggling, competitive economy. I would only consider business in the form of an M.B.A. or 3 year joint M.B.A./.J.D. program.

Wow, 5:30 a.m.-11 p.m., not quite, but I’m a night owl and sleep when I have time. Sure, my car is about 5 years old, but it looks new. A $1,000 paint job would take care of any questions, but I’d rather let someone else drive off that depreciation and buy the vehicle at cost on a rainy day.

Not married, but why would I get married? Prenuptial agreements cost $20,000 and and barely enforceable, but the average weeding is $23,000. However, I’d be open to having a ceremony and honeymoon; I just don’t want to sign anything…lol. Who buys a stock (enter a marriage) that has a 50/50 chance of losing half its value within 5 years? Maybe when I’m 52…nah, I’ll pass.

Concerning credit card balances, it depends, I’ll borrow at 0% for 18 months (4% fee) an invest it hoping to make 100% over 12-18 months. Rinse, wash, and repeat until you reach your magical retirement number. For me, that’s a lot more than usual, due in part that a million dollars isn’t what is used to be.

Don’t get me wrong, golf, yoga, and lifting weights are great, but tennis? I love Serena and Venus too, but seriously, how many of us play tennis regularly? Hmm…I’d say none of us do, then again, I’m fortunate in that I’m a bit younger than most Black millionaires.

Buying clothes off the rack…check. Why? Because clothes don’t make me much money. I suppose if I was an attorney, financial consultant, or real estate professional by trade, I would think differently. Business meetings are the only exception, but how many people wear a $1,200 suit to a networking event? I can feel the hate as I walk through the door now. However, like cars and communication devices, items upon which African-Americans spend most of their disposable income, clothes are depreciating assets that quickly lose value after purchasing.

Expensive vehicles parked in a garage or nearby lot eat away at your bottom line in terms of costly insurance, gas, or the many upgrades you never use. I love that Lexus has a car, the LS 460, that can park itself, but should I drop another $10,000 for that feature. Nice clothes and expensive suits sort of hang in the closet, doing nothing, and immediately lose value upon wearing them in the local club: filled with smoke, soon to be spilled alcoholic drinks, and groupies that only want you because of your expensive gear.

“Oooh, who’s that? Girrrrl. Look at his watch-and did you see his car. He must be ballin’,” she says. Yes, the groupies, your future ex-wife awaits because those nice clothes and new car will cost you in the long run. The flesh is week bra and you will fall once she grinds you a few times and offers herself to you for the evening. Never mind the wear and tear to that Hugo Boss suit, you’ll drop $40-$60 for dry cleaning because you’re sure the red wine will wash right out. Avoid ‘groupie-grinding,’ as it’s the leading cause of divorce in this country. I suppose marriage is too if you think about it, 50/50 chance of success, but I digress.

When Dr. Kimbro mentions a Lexus and/or Mercedes as types of vehicles Black millionaire own, I was concerned. We own 4 cars, seriously? If it’s true, it must be related to media hype. If you’ve never had the pleasure of driving a 100k vehicle for awhile, trust me, the difference between a Mercedes sedan and Chysler 300 is negligible in terms of an $60,000 price difference. Let’s face it, you know that you’re not supposed to drive over 60 mph anyway and that both vehicles can reach that speed in less than 5 seconds.

Do you really expect to use all 8 horses in the engine in major traffic? I doubt it. Therefore, I urge you. No, I implore you…to not to purchase any vehicle over 20k. Mathematically, with respect to residual value, it doesn’t make millionaire-sense. Please observe the illustrations below:

According to, the above graph best represents what happens after two years of car ownership. This graph was generated using an automobile residual value tool from This particular chart is for a mix of American, Asian, and European mid-sized sedans, but the data trends look similar for almost any car type.

What we can glean from this information one should never buy a brand new vehicle. Purchase a car when it’s 2 years young and invest the money you would have spent on the car payment elsewhere (Rule of 72). Future posts on the Rule of 72 and How to Negotiate at a Car Dealership will come soon. Until then, I suppose you’re not going to listen to this advice, so I included a listing of the car models offer the best residual value.

I hate to live to up to a stereotype, but I listen hip-hop-still. Drake is one of my favorite lyricists at the moment and I thought he said it best when describing money in his hit “Successful,”

Ahh yeah Trey I fuckin’ feel ya…

They be starin’ at the money like it’s unfamiliar…

I get it-I live it to me there’s nothing realer…

just enough’ll solve your problems…

too much’ll kill you. —Drake

You should get it too, moderation in everything.

Monday, September 12, 2011

Nigerian Enterprenuer Jason Njoku of CEO Iroko Partners/NollywoodLove

Jason Njoku of Nollywood Love/Iroko Partners

Jason Njoku, the C.E.O. of the company that brought the popular viral movie, Blackberry Babes to the web as well as hundreds of Nollywood movies to You Tube legally was recently interviewed by Sara Lacy of Techcrunch during her visit to Nigeria.
Njoku through his startup is digitizing Nollywood content and signing exclusive content partnership deals with hundreds of Nollywood producers in places like Alaba.
Business Model: Njoku hires employees to watch Nollywood movies all day and then uploads the best of them to You Tube. The content is afterwards streamed on You Tube legally and in full for Nigerians online. The content is then monetized via You Tube ads.
Watch the interesting interview below.

Jason Njoku

Founder & CEO
  • Founder at Iroko Partners
  • University of Manchester - Manchester Business School
111 connections

Jason Njoku's Experience


Iroko Partners

Entertainment industry
January 2010 – Present (1 year 9 months) London, United Kingdom
Who are IROKO Partners? - Since our launch in December 2010

- We are the largest distributors of Nollywood movies (both English and Yoruba) globally online
- We have aggressively protected the industry from piracy
- IROKO Partners are the largest licensee of Nollywood movies with over 700 titles in our library - more titles than DStv / Africa Magic and HiTV combined
- We have returned over $500,000 to our 150+ Nollywood Production house partners in the last 6-months - value which was never realized before
- We are Africa's largest content partners on YouTube and Dailymotion - both in revenue, unique viewers and monthly views.
- Our brands attract 1.8 Million unique viewers from 231 countries
- Our music our movie brands generate 15-17 million views per month on YouTube and Dailymotion
- We are experts on YouTube and have a dedicated work force of 49 gurus in Festac
- We have been covered by numerous media outlets from CNN, CNBC Africa, NN24, Techcrunch, Wall Street Journel, 234Next and many many more.

Jason Njoku's Education

University of Manchester - Manchester Business School

2002 – 2005

Jason Njoku's Additional Information

Media, Technology, Macro Economics, Chemistry, Physics and Philosophy.
Groups and Associations:

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