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NIGERIA: BUSINESS MOGUL DANGOTE TOPS AFRICA’S RICHEST LIST

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Aliko-Dangote

Africa’s richest man, Nigerian billionaire Alhaji Aliko Dangote may be top of the rankings in Africa but at the global level, he rounded off as the 100th richest.

This is according to U.S.-based Forbes Magazine in the latest release of its annual list of the world’s richest persons (2018).

With a fortune estimated at $14.1 billion, CEO of the Dangote group who has significant business interests in cement production across Africa and agriculture back home maintained a slot he has occupied for a while now.

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Two other Nigerian billionaires who made the list were oil and telecoms mogul Mike Adenuga whose fortune is currently estimated at $5.3 billion.

Folorunsho Alakija, a self-made businesswoman in the oil sector is also on the list. Alakija has various interests but known mainly for her oil business, she with a fortune estimated at $1.7 billion.

Angola’s Isabel dos Santos, who has stakes in telecommunications , oil and gas and also banking – maintained her place as the continent’s richest woman with a net worth of $2.6 billion.

She is daughter to former Angolan president Jose Eduardo dos Santos and was fired as chairperson of the Angola’s state oil company by new President Joao Lourenco on allegations of financial impropriety – she flatly denies all the allegations.

Other Africans on the list are Zimbabwean telecoms tycoon Strive Masiwiya ($1.39 billion) and South African mining magnate Patrice Motsepe ($2.5billion.)

Amazon founder and CEO Jeff Bezos estimated to be worth $112 billion topped for the first time unseating Bill Gates with a fortune of $90 billion who came second in the list released on Wednesday (March 7).

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EFF demands the sacking of South Africa’s finance minister Nene.

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South Africa’s political players are headed for a collision course over the fate of the finance minister, who the Treasury on Tuesday said is traveling to Indonesia for an International Monetary Fund (IMF) meeting.



Pressure has been piling on finance minister Nhlanhla Nene to resign, following his disclosure to the state-capture inquiry commission, that he had met the Gupta brothers between 2010 and 2013.

The Business Day on Monday reported that Nene had asked president Cyril Ramaphosa to relieve him of his duties as finance minister.

Ramaphosa’s office responded and said they were not aware of Nene’s request.

And on Tuesday, Treasury spokesman Jabulani Sikhakhane said the finance minister was expected to arrive in Indonesia on Wednesday.

Nene is also expected to read the mid-term budget later this month.

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The news that Nene is continuing with his duties is likely to anger opposition supporters including the Economic Freedom Fighters (EFF), whose leader, Julius Malema on Monday asked Ramaphosa to sack Nene.

In a written letter to Ramaphosa, Malema argued that the country, whose economy is in recession, had very serious challenges that needed a credible finance minister to address them.

‘‘Public servants at all spheres and levels of government will have no obligation to responsibly manage state fiscal resources under a compromised minister of finance,’‘ Malema said.

He then added that that Nene can no longer inspire much needed confidence to revive the economy.

‘‘The Medium-Term Budget Policy Statement (MTBPS)‚ which is supposed to be a statement to build confidence amongst all important economic role players‚ cannot‚ and should not‚ be delivered by a minister who was part of the Gupta criminal syndicate.”

For the EFF, Nene’s position as finance minister is no longer tenable and they are determined to win what they are now calling a battle.

Malema had threatened on Sunday that streets protests might be organised to demand for the removal of Nene as finance minister.

The Gupta brothers are accused of using their friendship with former president Jacob Zuma to influence government decisions including unfairly winning state contrcats.

Both Zuma and the Guptas have denied any wrongdoing.

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South Africa: Ex-minister reveals Zuma’s Gupta deals.

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South Africa’s Finance Minister Nhlanhla Nene said on Wednesday he was fired by former president Jacob Zuma for refusing to approve contracts that would financially benefit the Gupta family, friends of Zuma accused of corruption.



Nene, who was giving testimony at a judicial inquiry into influence-peddling, said the main reason he was he was sacked was for rejecting a proposed plan to build a fleet of nuclear power plants. The project could have cost up to $100 billion.

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Zuma and the Gupta family deny allegations they colluded to inappropriately divert state funds.

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