“Don’t
come to Africa and help, come and make money,” said Mo Ibrahim,
Africa’s pioneer telecom billionaire. As its economic promise continues
to take shape, so Africa is churning out millionaire businessmen after
multi-million dollar business. But just how are these super-successful
tycoons amassing their riches?
Over the last decade or so, we have
witnessed the blossoming of the knowledge economy. The software and
technology sectors have taken off, birthing a new breed of billionaires –
Steve Jobs, Larry Page, Mark Zuckerberg – and cementing their
viability. While this has made many exceptionally prosperous, it has not
been a major source of income for Africa’s wealthiest.
When talking about financial fortunes on
the continent, one needs only look at the usual suspects: oil and gas,
investments, manufacturing, construction, financial services, real
estate and other traditional terms of commerce.