Dangote loses position as Africa’s richest person to South African billionaire

Billionaire businessman and industrialist, Alhaji Aliko Dangote has lost his position as Africa’s richest man to South African businessman, Johann Rupert.

In the latest data from the Bloomberg Billionaires Index released on Tuesday, Rupert, chairman of luxury goods conglomerate Richemont, overtook Dangote, chairman of Dangote Industries Limited, as Africa’s richest person.

According to the BBI, Rupert’s net worth has soared to $14.2 billion, surpassing Dangote, whose fortune has declined to $13.4 billion.

READ ALSO: Oil producers reject government order forcing them to sell to Dangote refinery

Data shows that Rupert’s wealth has increased by $1.87 billion this year, while Dangote’s wealth has decreased by $1.69 billion.

Nicky Oppenheimer, another South African billionaire, came in third with a net worth of $11.3 billion, followed by Nassef Sawiris, an Egyptian businessman, with $9.37 billion, and Natie Kirsh, a South African investor, rounding out the top five with $9.14 billion.

Dangote’s decline in net worth is largely due to Nigeria’s challenging macroeconomic environment in which his conglomerate operates.

By; Babajide Okeowo

Dangote loses Africa’s richest man spot to South African billionaire first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.

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        Introduction  A free, independent, and vibrant press is one of the strongest pillars of any democratic society. It is against this background that most democratic countries  make constitutional provisions for a free press . Others even go further to enact specific laws to make affairs of governments freely available to the public. Currently, there are more than  130 countries in the world that have free press laws. They include Sweden, United States, France, South Africa and Nigeria. Nigeria did not only make  constitutional provisions in Sections 22 and 39(1) of the 1999 Constitution ( as amended) but also went ahead to enact the Freedom of Information Act  in 2011. Section 22 of the 1999  Constitution states: “ “The press, radio, television and other agencies of the mass media  shall at all times be free to uphold the fundamental objectives contained in this chapter( ie Chapter II) and uphold the responsibility and accountability of the Government to the people”  Section 39(1)  of same Constitution states : “Every person shall be entitled to freedom of expression, including freedom to hold opinions and to receive and impart ideas and information without interference” ..  To complement these constitutional provisions, Section 1 (1) of the Freedom of Information Act (FOIA) states “Notwithstanding anything contained in any other Act, law or regulation, the right of any person to access or request information, whether or not contained in any written form, which is in the custody or possession of any public official, agency or institution howsoever described, is established.” while Section  2(2), states that: “A public institution shall ensure the proper organization and maintenance of all information in its custody in a manner that facilitates public access to such information”  Primary Purpose of FOIA  According to the Act, its primary purpose is to make information about public records freely available to every Nigerian in the public interest. …

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