🔅 Who Leads Africa's Billionaire Club? & South Africa's Presidential Advisory Scandal
Plus, Johannesburg's Shocking Fire Confession & Addis Ababa's Fashion Week Highlights
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Brief & Bright: Africa's Top Five
Dangote Still Tops Billionaire Club. Who Else Is On The List?
It's that time of the year when Forbes rolls out its list of Africa's wealthiest, and lo and behold, Nigeria's Aliko Dangote is still the king of the cash pile. For the 13th year running, he's sitting pretty atop Africa's rich list, proving that even in tough economic times, some folks just keep rolling in it. The combined wealth of the continent's 20 billionaires is $82.4 billion, and while Forbes notes that making and keeping a billion-dollar fortune in Africa is no cakewalk, these tycoons are clearly up to the task.
Dangote, who is the king of cement and sugar and now owns an oil refinery in Lagos, saw his fortune jump by $400 million last year, hitting $13.9 billion. Taking the silver medal is South Africa's luxury goods businessman, Johann Rupert, followed by Nicky Oppenheimer, who once was a diamond miner. The Rainbow Nation boasts four more money mavens on this list, while Egypt fields five and Nigeria four. Morocco's got a pair, and Algeria, Tanzania, and Zimbabwe each proudly present their solo billionaires.
South Africa's Presidential Advisor Axed Over a PhD Fiasco
Cyril Ramaphosa, South Africa's President, just gave the boot to Thabi Leoka, a high-flying economist, from his advisory panel. It turns out there's a bit of an issue with her PhD – or the lack thereof. Leoka claimed the London School of Economics (LSE) handed her the degree, but journalists did some digging and found nothing.
When the LSE was asked for answers, they answered with a "Thabi who?" They have no record of Leoka. Despite this, Leoka insists that she did not misrepresent her qualifications. Before the incident, she was a well-known figure in South Africa's economic circles, dishing out advice to the government and hanging out in boardrooms.
Johannesburg Shocking Confession Turns Inquiry Upside Down
In a jaw-dropping twist at a public inquiry, a 29-year-old man (identity under wraps) confessed to starting one of South Africa's deadliest fires. This blaze, which consumed a Johannesburg building last August, wasn't just a tragic accident; it was a murder cover-up gone horribly wrong. The man, a self-admitted drug user, spilled the facts about strangling someone in the building's basement on the orders of a Tanzanian drug dealer. His solution to hide the crime? Douse the body in gasoline and light it up.
This confession was a bombshell for the inquiry, which was digging into the fire's cause, and the police swooped in post-testimony, slapping him with 76 murder counts and 120 attempted murder counts. Court date? Pending.
To add to the shock of the situation, the man was attending the inquiry as a resident who had been called in for his side of the story, not a suspect. Imagine the collective gasp when his confession echoed through the room.
This tragedy shines a spotlight on Johannesburg's issue with "hijacked buildings." These rundown, squatter-occupied structures epitomize the decay in parts of the city; even though this particular building was owned by the city, it was commandeered by illegal landlords renting out space to hundreds of poor.
The Top Designers From Addis Ababa's Fashion Week
Addis Ababa's Hub of Africa Fashion Week recently put Africa's sizzling style on the map. The Ethiopian capital hosted a catwalk carnival showcasing the continent's sleekest designers. From Mastewal Alemu's zero-waste chic to Tibebu's modern twist on tradition, and from Afthoro's wedding dress wonders to Zemenay's vibrant plus-size fashion, it was a dazzling display of diverse design. Take a closer look at the booming creativity in this article by Vogue.
Are Kenya's SAPs From the 1990s Back?
The Structural Adjustment Programmes of the early 1990s imposed by the IMF and the World Bank left ordinary Kenyans reeling under extreme economic hardship. Three decades later, are Kenyans going through round II of the SAPs? Mwangi Githahu weighs in.
Food for Thought
“Do not blame God for creating the tiger, just thank Him for not giving it wings."
— Ethiopian Proverb