Of Africa’s 54 countries, 8 are home to billionaires. That’s up from just 4 in 2011
ll it took was a new currency in Zimbabwe to wipe out half of Strive Masiyiwa’s net worth. The country’s only billionaire,built a fortune primarily in telecom. He owns large stakes in two companies that trade on Zimbabwe’s stock exchange. But his country’s decision in June to ban all foreign currencies and use only the Zimbabwe dollar accelerated inflation and sent the value of the newly instituted dollar plummeting.
While the problems in Zimbabwe are extreme, doing business in Africa is sometimes unpredictable and often volatile.Abdulsamad Rabiu Altogether the continent’s billionaires are worth a combined $73.4 billion, up from $68.7 billion a year ago, mostly due to higher stock prices.
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