Africa is home to 135,200 high-net-worth individuals (HNWIs) with $1 million or more in liquid, investable wealth. Also, there are currently 54 African-born billionaires in the world, yet the continent has some of the world’s poorest countries.
Several of the billionaires, if not all, engage in humanitarian activities in a bid to support Africa’s development. According to an article on The New Humanitarian website, an estimated $7 billion is given away every year by Africa’s philanthrocapitalists to provide home-grown solutions to local needs.
Below, meet five of Africa’s most powerful philanthropists:
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Francois van Niekerk: South Africa
Francois van Niekerk is a South African entrepreneur and philanthropist. He is the founder of Mertech Group, and according to the report on The New Humanitarian website, he has given 70 percent of his equity (valued at $170 million) to his Mergon Foundation, which funds education, health, and skills-building initiatives.
Theophilus Danjuma: Nigeria
Theophilus Danjuma is a distinguished businessman who is the founder of South Atlantic Petroleum Limited (SAPETRO), a Nigerian oil and gas exploration and production company focused on creating value in the exploration, development, and production of African opportunities. SAPETRO holds the second-largest operating acreage in all of offshore east and southern Africa.
He reportedly gave $100 million to set up the TY Danjuma Foundation, a grant-making organization that partners with NGOs in education, health, policy, and poverty-related fields.
Aliko Dangote: Nigeria
Aliko Dangote is not only Africa’s richest man but also the wealthiest black man in the world. The story of how he started his company from scratch will always inspire many entrepreneurs. He borrowed $3,000 from his uncle shortly after receiving his college degree at 21 to import and sell food products in Nigeria.
Today, he is also one of Africa’s biggest philanthropists through the Dangote Foundation. He has reportedly made contributions totaling $35 million. In 2012, he gave $500,000 to victims of a munitions blast in Brazzaville, Congo. He has also contributed to flood relief and an NGO that develops low-cost housing and universities in Nigeria.
Tony O. Elumelu: Nigeria
Tony O. Elumelu is one of Africa’s and Nigeria’s richest businessmen and philanthropists. He is behind The Tony Elumelu Foundation (TEF), the leading philanthropy empowering young African entrepreneurs from across 54 African countries. On its website, TEF says it has disbursed over $100 million in direct funding to 20,000 young African entrepreneurs from across 54 African countries.
Precious Moloi-Motsepe: South Africa
The Motsepe Foundation was founded in 1999 by Precious Moloi-Motsepe and her husband Patrice Motsepe to “improve the lifestyles and living conditions of the poor, unemployed, women, youth, workers and marginalized South Africans,” its website says. In 2014, Patrice Motsepe announced a $10 million donation to U2 singer and activist Bono’s (RED) campaign which fights HIV/AIDS in Africa.
His wife has also been an advocate for Gender Responsive Budgeting Initiatives and supported the university education of over 2,500 students.
