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Nigeria, SA top young millionaires list

19 January 2015, 07:55Tintswalo Baloyi

Johannesburg - Nigeria and South Africa lead Africa's newest crop of young millionaires aged below 40 years.

This is according to a new report suggesting out of the ten African millionaires under 40, three each were from Nigeria and South Africa.

According to Ventures Africa, the ten young millionaires embraced the new technology in one hand with foreign investment that boosted building business that diversified Africa’s economic landscape.

The ten comprise Mark Shuttleworth (39), Vinny Lingham (34) and Nic Haralambous (29), all South Africans, and Nigerians Sim Shagaya (38), Abasiama Idaresit (34) and Jason Chukwuma Njoku (32).

Also Read: Okonjo-Iweala denies claims of squandering of money

These made most of their money through technology innovation, property, mining exploration as well as brokering of lucrative government contracts

Apart from three Nigerians and three South Africans on the top list, other young African millionaires are drawn from Ghana, Uganda, Kenya and Tanzania respectively.

Others from different parts of Africa include Roland Agambiri (39) of Ghana, Michael King’Ori Macharia (38) of Kenya, Patrick Ngowi (28) of Tanzania and Ashish Thakkar (31) of Uganda.

While Zimbabwe's Frank Buyanga (34) is not listed among the top ten new African young millionaires under the age of 40, it is widely believed he is among the richest.

Buyanga boasts huge investments in the United Kingdom, South Africa, Zambia and Zimbabwe.  

- CAJ News


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