Not all wealthy tycoons sit in their money bins, counting every penny. A few like to give back in the forms of donations and foundations. Forbes compiled a list of Africa’s most generous philanthropists in 2012...
Ashish J. Thakkar, Uganda
CEO, Mara Group
Estimated Giving: $1.1 million
Thakkar is Africa’s youngest billionaire and created an empire out of humble beginnings, selling computer systems to friends and family. Today the Mara Group has a presence in over 18 African countries and employs several thousand people. Known for his active philanthropy, Thakkar established the Mara Foundation with a $1 million endowment: this foundation helps solve social problems in East Africa, such as refurbishing schools. Last year it launched Mara.com, which aims to help entrepreneurs and create business networks for newcomers.
Manu Chandaria, Kenya
Chairman, Comcraft Group
Estimated Giving: $1.2 million
Chandaria is a pillar of Kenyan business: Comcraft Group, founded by his family in 1915, is an industrial giant, manufacturing and selling aluminium, plastic and steel products across the continent and world. His Chandaria Foundation is only a little younger - established in 1956 it has been helping the needy for over five decades. Last year Chandaria used it to donate over a million dollars to the Gertrude’s Children’s Hospital, which will be used to construct and equip a new facility called The Chandaria Medical Centre.
Naushad Merali, Kenya
Chairman, Sameer Group
Estimated Giving: $1.2 million
One of Africa’s richest people, Merali amassed a fortune through steering the Sameer Group conglomerate, as well as numerous other businesses forged in his 30-year career. The tycoon is good at giving back to the region: the foundation named after him and his wife Zarina donated money to the Kenya Red Cross society in 2011 and last year gave over a million to the Kenyatta National Hospital.
Mike Adenuga, Nigeria
Chairman, Globacom
Estimated Giving: $3.2 million
Adenuga was always destined for bigger things, making his first million by age 26. Since then he has grown substantially wealthier through his telecommunications company Globacom and Conoil Producing, a major oil refiner in Nigeria. Though the billionaire has kept a foot in charity through the foundation named after him, his giving nature got a real boost in 2012 when he donated over $3 million towards flood-relief efforts that struck the country that year.
Prince Arthur Eze, Nigeria
Chairman, Atlas Oranto Petroleum
Estimated Giving: $6.3 million
One of Nigeria’s top oil men, Eze’s Atlas Oranto Petroleum has oil and gas claims in several African countries. Two years ago it sold several of its Liberian interests for $250 million, most of which went to Eze. But he pays it forward and is known for his giving habits: he is the patron of a Nigerian football team and regularly donates to universities. But in 2012 his biggest contributions went towards flood victims.
He has also reportedly donated $12 million (1.8 billion Nairas) to fund the construction of an Anglican church-affiliated Youth Development Center in Nigeria. This happened this year after Forbes released this list which should really put as second on this list.
Tony Elumelu, Nigeria
Chairman, Heirs Holdings
Estimated Giving: $6.3 million
An investment mogul, Elumelu recently retired from a long and lucrative career in banking. He established the Tony Elumelu Foundation in 2010, with the aim of promoting business excellence and entrepreneurship in Africa. But the foundation also helps the unfortunate and matched the N1 billion ($6.3 million) donations fellow billionaires made towards flood relief operations.
Strive Masiyiwa, Zimbabwe
Founder, Econet Wireless
Estimated Giving: $6.4 million
With his mobile telecoms firm Econet being the largest in Zimbabwe, it’s not hard to calculate where Masiyiwa’s wealth comes from. But he worked hard for it - not the least a gruelling battle to secure the license in 1998. Since then Zimbabwe’s richest person has expanded his business reach into banking and other ventures, but also towards charity. In 2012 he created a foundation to fund the education of African undergraduates and also supports a foundation that cares for orphans. Masiyiwa has also served on the boards of several international foundations.
Jim Ovia, Nigeria
Founder, Zenith Bank
Total estimated giving: $6.6 million
A fixture in Nigeria’s banking sector, Ovia also built his wealth with savvy real estate deals and telecoms. As with many Nigerian tycoons on this list, he donated handsomely to the government’s 2012 flood relief effort. But his charitable efforts go back further: he is the founder of both Mankind United to Support Total Education, which provides scholarships to students who can’t afford education, and the Youth Empowerment / ICT Foundation, which focuses on helping entrepreneurs in the technology world.
Aliko Dangote, Nigeria
President, Dangote Group
Estimated Giving: $35 million
Africa’s richest man has had a very giving 2012: his contributions for the year are more than the rest of this list combined. Foremost is his donation to the flood relief effort in Nigeria, to which he gave more than double of any other person’s contribution. With a fortune made in commodities such as cement, sugar and flour, Dangote has shown a keen interest in philanthropy, noting the charitable habits of billionaires such as Warren Buffett and Bill Gates. He has given liberally to education and even in 2011 offered $600 for each person displaced in Nigeria’s election violence.
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