Connect with us

TRULY FAB

Forbes Names Nigerian Businessman, Mike Adenuga “The Biggest Billionaire Gainer In Africa In 2016”

Published

on

Nigerian billionaire, Dr. Mike Adenuga has been declared “The Biggest Billionaire Gainer In Africa In 2016” by Forbes. This was made known in an article by Forbes’ Kate Vinton published on the forbes official website.
Exactly half of Africa’s 20 billionaires got richer in 2016. The continent’s biggest gainer — in both dollar and percentage terms – is Nigerian oil and telecom tycoon Mike Adenuga, whose net worth increased $2.7 billion to $5.8 billion since December 31, 2015. No other African billionaire added more than $1 billion to his or her net worth in the past year. Overall, the combined net worths of African billionaires decreased $3.1 billion in 2016.

The increase in Adenuga’s net worth is largely due to new information FORBES obtained in 2016 about the value of his assets. Adenuga owns Nigerian telecom company Globacom and Nigerian oil company Conoil Producing. While Adenuga’s net worth has increased since the beginning of 2016, it has dropped significantly since March 2016, when FORBES valued his fortune at $10 billion on the 2016 Billionaires List. Since then, his net worth has dropped $4.2 billion, due to the devaluation of the Nigerian Naira and the country’s struggling oil sector. Adenuga was the only Nigerian billionaires whose net worth increased this year. (Aliko Dangote, the richest Nigerian and Africa’s richest man, saw his fortune drop nearly 28% to $12.4 billion over the course of 2016.)

South African mining billionaire Patrice Motsepe and Egyptian billionaires Nassef Sawiris and Naguib Sawiris were the next biggest gainers in Africa, each adding $500 million to their fortunes over the year. Motsepe was also Africa’s second biggest percentage gainer; his net worth increased by 32% in 2016, bringing his fortune to $1.5 billion. The stock price of Motsepe’s African Rainbow ARBJY +% Minerals has risen nearly 130% in the past year, following a steep decline in 2015.

Nassef Sawiris the richest billionaire in Egypt with a fortune that FORBES pegs at $5.2 billion, runs one of the largest nitrogen fertilizer producers in the world, OCI, and also owns 7% of Adidas and nearly 5% of cement giant LafargeHolcim. While OCI stock is down 27% over the past year, Adidas stock is up 58% and LafargeHolcim is up 7%, leading to the bump in his net worth. Egyptian telecom billionaire Naguib Sawiris, who has a $3.5 billion fortune announced that he was stepping down as CEO of Orascom Telecom Media & Technology in December 2016.

Egypt and South Africa were the only African countries where more than half of the country’s billionaires got richer in 2016. In both, four out of seven billionaires added to their wealth in the past year. In Nigeria, meanwhile, only one of four billionaires got richer this year.

In total, the twelve African billionaires whose net worths increased this year added a combined $6.2 billion to their fortunes in 2016. The continent outperformed the overall FORBES World Billionaires List, where only 46% of billionaires saw their fortunes increase in 2016. The year’s biggest global gainer, American billionaire Warren Buffett, has a fortune that jumped almost twice that amount in 2016.

Related image

http://www.forbes.com/sites/katevinton/2016/12/31/nigerian-telecom-tycoon-mike-adenuga-is-africas-biggest-billionaire-gainer-in-2016/#38b425714e9a

Continue Reading

ARTS & CULTURE

See Proud Moments At “A GAPS Inspired Nutrition Guide” Book Launch By Tolu Olumide

Published

on

By

"A GAPS Inspired Nutrition Guide" By Tolu Olumide | fab.ng

Tolu Olumide, a young and inspiring business leader under 40, has written a new book. The book is titled “A GAPS Inspired Nutrition Guide“. Tolu is the cousin to Familusi Akin Babajide., CEO at UNDER40CEOs.

The book was launched at a special event and FAB.NG, a Nigerian media company, was there to see it happen live.

This book, “A GAPS Inspired Nutrition Guide” is essential for several reasons.

First, it takes a complete approach to health. It gives practical advice about food and nutrition. This advice can help manage and maybe even improve the health and behaviour of people with certain conditions. These conditions include autism, ADHD, ADD, dyslexia, and allergies. It also covers other conditions that affect how people develop.

Second, the book is full of useful information. It shares ideas that are based on scientific evidence. This makes it a valuable resource for many people. Parents can use it to help their children. Caregivers can use it to support better the people they look after. Professionals who work with people who have these conditions can also learn a lot from this book.

Third, the book gives power to families. It provides clear steps that families can take. These steps can help create a healthier home environment. This environment can better support family members who have these conditions.

On sharing this information on his social media, Familusi expressed how very proud he is of Tolu. His caption read,

Proud moments at the launch of “A GAPS Inspired Nutrition Guide” @cleanthishealthis by my cousin, an inspiring Under 40 CEO – Tolu Olumide @lagosmealprepsociety

Familusi believes the book is something everyone should read.

He thinks it will be especially helpful for people who care for individuals with autism, ADHD, ADD, dyslexia, allergies, or other similar conditions.

At the end of the post, Familusi reiterated his pride in his cousin by saying, “Congratulations on this incredible achievement Tolu!’

Tolu has achieved something amazing by writing this book. It shows her dedication to helping others. She has used her knowledge and experience to create a resource that can make a real difference in people’s lives.

The launch of the book was a special moment. It was a chance to celebrate Tolu’s hard work and the potential impact of her book. Having FAB.NG there to witness the event adds to its significance. It shows that the book launch was an important event that attracted media attention.

See pictures from the event below:

Check out more updates here.

Continue Reading

BUSINESS

Watch! Mitsubishi Motors Presents Drive Your Ambition – Under 40 CEOs Featuring Olaotan Towry-Coker

Published

on

By

Who else is as excited about getting into the 5th gear in Week 5 of Under 40 CEOs – Drive Your Ambition? Forget August Visitors as we have lined up an amazing set of August Riders who will be taking a ride with Mr FAB as usual. This week he drives the Chief Executive Officer at Afritickets to work in the Mitsubishi Eclipse Cross. We know you’re itching to watch, but who exactly is Olaotan Towry-Coker?


Olaotan Towry-Coker is a passionate entrepreneur with over 14 years experience in incubating and growing early-stage businesses. His professional background spans multiple sectors including Oil and gas, publishing, advertising, technology and real estate. Driven by a continual search for excellence and a passionate desire and drive to solve problems and impact people across many divides, Olaotan Towry-Coker exemplifies what it means to be a young African professional and entrepreneur on a journey of conceiving ideas, creating solutions and delivering change that gives greater meaning to lives. Olaotan Towry-Coker is the founder and CEO of Afritickets.

Watch the video below

More About Massilia Motors
Massilia Motors is the joint venture of the CFAO group and the Chanrai group uniting forces to deliver customer satisfaction. With operations run by the CFAO group, Massilia Motors is the sole distributor of Mitsubishi Motors in Nigeria.
The Nigerian Line-up includes: ASX, Eclipse Cross, Outlander, Pajero, Pajero Sport and the L200 pick-up.

Visit the official website for more information.

More About Under 40 CEOs
Under 40 CEOs launched on TVC Entertainment and TVC News on the 9th of October, 2015 and subsequently launched on Silverbird Television Network on the 13th of January, 2016 and has spotlighted inspiring young business leaders aged 40 and under from Nigeria, Ghana, Rwanda and South Africa. Business leaders that have been featured on the show include Adebola Williams of Red Media; Audu Maikori of Chocolate City Group; Noble Igwe of 360 Group; Bola Ray of EIB Networks; Alex Brahm of SMSGH; Oluyomi Ojo of Printivo whilst discovering inspiring CEOs like lawyer Aderemi Oguntoye of Oguntoye and Oguntoye; Senyo Hosi of Ghana Chambers of Bulk Oil Distributors;Farida Bedwei of Logiciel; Ukinebo Dare of Poise; Abiola Adekoya of RMB Stockbrokers; Ran Neu-Ner, Co-CEO at The Creative Counsel; Shukri Toefy, CEO at creative adverting agency, Fort and Ade Adegoke of Oando Foundation amongst others.
With over 100 episodes till date, and serial entrepreneur, Familusi Akin Babajide, Mr FAB as the host, Under 40 CEOs has since gone on to inspire and motivate millions of would-be young business leaders across Africa to take action and join in the rebuilding and re-shaping of the African continent. Under 40 CEOs currently reaches an odd 875,000 viewers every week with a social media following of over 170,000 and growing with a cumulative social media content reach of over 9million.

Follow Massilia Motors on social media:
Instagram: @mitsubishi_motors_nigeria
Facebook: Mitsubishi Motors Nigeria
LinkedIn: Mitsubishi Motors Nigeria
_____________________
Follow Under 40 CEOs on social media:
Facebook: @under40ceosafrica
Instagram: @under40ceos
Twitter: @under40ceosng

Continue Reading

COMEDY

Nigerian Singer Davido Claims His Gateman Has Two Houses And 3 Cars

Published

on

By

Nigerian singer Davido has always cultivated a culture of sharing is caring in all aspects of his life.


The Nigerian star Davido shares his heart equally with three women: two baby mamas who gave birth to his daughters and his girlfriend Chioma.
And that is not enough. The musician has always been praised for always helping the people around him despite their status in the community.

Now, the 26-year-old father of two has caused a stir on Twitter after casually saying his watchman owns two houses and three cars.

Yes, as you struggle to at least get free rides on Mr sponsor’s car, Davido is busy elevating his employees.
It all started when a tweep named Obong Roviel shared his excitement over news that the musician was working with upcoming act, Lyta.

Obong praised Davido for always supporting everyone who approaches him either in terms of growing their music brand or elevating their businesses.
A proud and happy Davido then said on top of helping Lyta, he has made sure his watchman has cars and houses.

Scrolling through the comment section, nearly everyone agreed with Obong and echoed his sentiments.

Despite the singer being riddled with controversy in the past, he has managed to show he has a heart of gold.

 

Continue Reading

Latest

YouTube Live Concert in Nairobi: Ayra Starr to headline | fab.ng YouTube Live Concert in Nairobi: Ayra Starr to headline | fab.ng
MUSIC54 mins ago

Ayra Starr To Headline Inaugural YouTube Live Concert In Nairobi

Ayra Starr, the Grammy-nominated Nigerian music artist, will perform a special YouTube Live concert from Nairobi, Kenya, streaming to a...

Falz says he wasn't pressured to become a lawyer | fab.ng Falz says he wasn't pressured to become a lawyer | fab.ng
ENTERTAINMENT2 hours ago

I Wasn’t Pressured To Become A Lawyer Like My Dad – Falz

Nigerian rapper Falz has clarified that he was not pressured to study law due to his father’s success in the...

Piece of My Heart: Wizkid releases new single | fab.ng Piece of My Heart: Wizkid releases new single | fab.ng
FAB FRESH3 hours ago

Wizkid Drops Highly Anticipated Single “Piece Of My Heart”

After months of anticipation, Wizkid has finally released his first single of 2024, “Piece of My Heart,” featuring American RnB...

Nuno Espirito Santo given three-match touchline ban | fab.ng Nuno Espirito Santo given three-match touchline ban | fab.ng
SPORTS4 hours ago

Nottingham Forest Manager, Nuno Espirito Santo Given Three-Match Touchline Ban

Nottingham Forest manager, Nuno Espirito Santo and midfielder Morgan Gibbs-White have been suspended. Meanwhile, Brighton & Hove Albion boss Fabian...

Sheye Oladejo at AFWL 2024 with her 'Èjìré' Collection | fab.ng Sheye Oladejo at AFWL 2024 with her 'Èjìré' Collection | fab.ng
FASHION5 hours ago

SheyeOladejo Wows At Africa Fashion Week London 2024 With Her ‘Èjìré’ Collection

The 2024 edition of Africa Fashion Week London (AFWL) was a resounding celebration of African heritage, creativity, and craftsmanship. One...

Kobbie Mainoo out for a few weeks due to muscle injury | fab.ng Kobbie Mainoo out for a few weeks due to muscle injury | fab.ng
SPORTS8 hours ago

Manchester United’s Kobbie Mainoo Out For A Few Weeks Due To Muscle Injury

Manchester United has confirmed that their promising 19-year-old midfielder Kobbie Mainoo will remain sidelined for several weeks. Initially, Mainoo sustained...

Tiwa Savage unveils snippet to new single, Forgiveness | fab.ng Tiwa Savage unveils snippet to new single, Forgiveness | fab.ng
MUSIC10 hours ago

Tiwa Savage Unveils Snippet To Upcoming Single, “Forgiveness”

Nigerian music superstar Tiwa Savage has announced she will release her new single, ‘Forgiveness,’ on Friday, October 18, 2024. Tiwa...

NBA 2K25 soundtrack album: Asake's 'Wave' makes the list | fab.ng NBA 2K25 soundtrack album: Asake's 'Wave' makes the list | fab.ng
MUSIC1 day ago

Asake’s “Wave” Makes NBA 2K25 Soundtrack Album

Asake, the Nigerian superstar, has achieved another milestone as his collaboration with British rapper Central Cee earned a spot on...

Bobrisky Breaks Silence on Falz Defamation Claims | fab.ng Bobrisky Breaks Silence on Falz Defamation Claims | fab.ng
ENTERTAINMENT1 day ago

Bobrisky Breaks Silence On Falz Defamation Claims

Following a 24-hour ultimatum to retract defamatory statements made against Nigerian singer Falz and his father in a viral voice...

Samson Dauda Wins Mr. Olympia 2024 | fab.ng Samson Dauda Wins Mr. Olympia 2024 | fab.ng
SPORTS1 day ago

Samson Dauda Wins Mr. Olympia 2024 And Surpasses 1 Million Instagram Followers

After clinching the ₦1 billion prize and being crowned Mr. Olympia 2024, Samson Dauda has now surpassed 1 million followers...

-Ad-

under40ceos-starting-a-business
under40ceos-starting-a-business

Trending