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Forbes – Ten Young African Millionaires To Watch
Forbes – Ten Young African Millionaires To Watch
Posted by Nigerian Live on 3:01 pm //

Mark
Shuttleworth, South African
Age: 38
Founder, Knife Capital
When Shuttleworth was 22, he founded Thawte, a digital certificate and internet
security company which he sold to VeriSign for $575 million in 1999, when he
was 26. Shuttleworth used a fraction of his proceeds to start HBD Capital (now
called Knife Capital), a Cape Town-based emerging markets investment fund. HBD
has made a series of successful exits including Fundamo, a mobile financial
services company which was acquired byVisa for $110 million in 2011; and
csense, which was acquired by GE Intelligent Platforms the same year.
Shuttleworth also founded and funds Ubuntu, a computer operating system which
he distributes as free open source software. Shuttleworth has a net worth north
of $500 million.
Ashish Thakkar, Ugandan
Age: 29
Co-Founder and CEO, Mara Group
Thakkar, 29 is a co-founder and CEO of Mara Group – a Ugandan conglomerate with
tentacles in financial services, hotels, renewable energy, technology and
manufacturing. Annual revenues are approximately $100 million and the group has
an active presence in 16 countries on four continents. Devoted philanthropist:
Through his Mara Foundation, Thakkar provides mentorship and seed funding to
young East African entrepreneurs. Also funds Next Generation Schools, an
independent charity focused on improving education quality in disadvantaged
secondary schools in Uganda.
The Mara Group recently signed a $300 million deal with the Tanzanian
government to develop a 3.5 million square foot state of the art mini-city.
Ladi Delano, Nigerian
Age: 30
Founder and CEO, Bakrie Delano Africa
The jet-setting Nigerian serial entrepreneur made his first millions as a
liquor entrepreneur while living in China. In 2004, at age 22, he
founded Solidarnosc Asia, a Chinese alcoholic beverage company that made Solid
XS, a premium brand of vodka. Solid XS went on to achieve over 50% market share
in China and was distributed
across over 30 cities in China,
and pulled in $20 million in annual revenue. Delano
subsequently sold the company to a rival liquor company for over $15 million
and ploughed his funds into his next venture-The Delano Reid Group, a real
estate investment holding company focused on mainland China. Today, Delano is the co-founder
and Chief Executive Officer of Bakrie Delano
Africa(BDA) – a $1 billion joint venture with the $15 billion (market cap)
Bakrie Group of Indonesia.
Bakrie Delano Africa serves as the investment partner of the Bakrie Group in Nigeria. The
Indonesian conglomerate has provided over $900 million worth of funds to invest
in Nigeria
and Bakrie Delano Africa is responsible for identifying investment
opportunities in mining, agriculture and oil & gas and executing them.
Justin Stanford, South African
Age: 28
Founder & CEO, 4Di Group
South African-born Stanford is a software entrepreneur and venture capitalist.
After dropping out off high school, Stanford set out to launch an internet
security company which flopped. When he came across ESET, a Slovakian
anti-virus software package, he negotiated with its manufacturers and cornered
the exclusive, lucrative Southern African distribution for the product. Today,
Stanford’s ESET Southern Africa operates the ESET brand in the region and sells
ESET’s range of internet security products in about 20 sub-Saharan countries,
leveraging on an extremely successful internet business platform and digital
distribution model for online software sales and service. Today, Stanford’s
ESET brand records over $10 million in annual turnover and controls 5% of the
anti-virus market in Southern Africa. Stanford
is also the founding partner of 4Di Capital, a Cape Town-based venture capital
fund. Stanford is also a co-founder of the Silicon Cape Initiative, a
non-profit movement that aims to turn the Cape into Africa’s own Silicon Valley.
Magatte Wade, Senegalese
Age: 36
Founder, Adina World Beat Beverages & Tiossan
In 2004 Magatte Wade founded Adina World Beat Beverages, a San
Franciscobeverage company that manufactures coffee, tea and fruit juices using
traditional beverage recipes across Africa and organic ingredients sourced from
smallholder farmers in Africa and Asia. Within five years of launching, Adina
raised over $30 million in venture capital from institutional investors and the
products began being sold by Whole Foods and United Natural Foods. Magatte
stepped down from her position as CEO to grow her second company,Tiossan, a
manufacturer of luxury skin care products based on indigenous Senegalese
recipes.
Mike Macharia, Kenyan
Age: 36
Founder & CEO, Seven Seas Technologies
When he was 25, Macharia, a Kenyan national, founded Seven Seas Technology, now
easily East Africa’s most reputable IT
services firm. The $50 million (annual sales) company is a leading provider of
integrated business and technology solutions across Africa
in the telecom, financial, Real Estate, service industry and government. Seven
Seas is gearing up to get listed on the Nairobi Stock Exchange next year.
Vinny Lingham, South African
Age: 33
Founder, Yola Inc
Lingham, a South African national, is the founder ofYola Inc, a San
Francisco-based Web 2.0 outfit that provides free website building, publishing
and hosting services to over 3 million active users across the globe. Yola has
attracted over $30 million in venture capital financing from institutional
investors such asColumbus Venture Capital, a subsidiary of South African
billionaire Johann Rupert’s Richemont Group. Prior to Yola, Lingham
foundedClick2Customers, a hugely successful search engine marketing company
with offices in London, Cape
Town, and Los Angeles.
Click2Customers rakes in about $100 million in annual revenues. Lingham is a
co-founder of the Silicon Cape Initiative along with fellow South African
entrepreneur Justin Stanford.
Kamal Budhabatti, Kenyan
Age: 36
CEO, Craft Silicon
Kamal is the founder and CEO of Craft Silicon, a $50 million (market value)
Kenyan software company which provides software in core banking, microfinance,
mobile, switch solutions and electronic payments for over 200 institutional
clients in 40 countries spread across four continents.
Yolanda Cuba, South African
Age: 35
Executive Director, South African Breweries
The only woman to make it to this list. When Yolanda Cuba was 29 she was
appointed CEO of Mvelaphanda Holdings, a Johannesburg Stock Exchange-listed
investment holding company. She was awarded stock options worth over $10
million which she exercised before stepping down as CEO last year. She
subsequently took up a job as an Executive Director at South African Breweries.
Cuba
still serves on the boards of South African blue chips such as Steinhoff
International Holdings and Absa Group.
Jason Njoku, Nigerian
Age: 31
Founder & CEO Iroko TV
The maverick Nigerian Internet entrepreneur is founder of Iroko TV, the world’s
largest digital distributor of African movies. Iroko TV has been dubbed the
‘Netflix of Africa’. Earlier this year, Iroko TV raised $8 million in venture
capital from Tiger Global Management, a New York-based private equity and hedge
fund run by billionaire Chase Coleman. IrokoTV enjoys lucrative content
distribution deals with Dailymotion, iTunes, Amazon and Vimeo. Njoku is
unwilling to divulge figures, but analysts believe IrokoTV could be worth as
much as $30 million. Njoku is the company’s largest individual shareholder.
.