Business
Aliko Dangote ousted as wealthiest person of African origin
Tuesday, March 13, 2012
Nigerian billionaire Aliko Dangote. PHOTO/File
Ethiopian tycoon, Sheikh Mohammed Ali Al-Amoudi, who is worth an estimated US$12.5 billion, tops the Forbes 2012 Black Billionaires List announced last week.
The Ethiopian-born Saudi billionaire ousted Nigerian billionaire Aliko Dangote, worth US$11.2 billion. Dangote, who is ranked second, remains Africa’s wealthiest individual.
Al-Amoudi, 67, is the 61st richest person in the world. He is presently involved in various construction projects in Ethiopia, where he has invested more than US$2 billion.
He is preparing to undertake additional US$3 billion investment in the coming five years in various sectors including agriculture, cement production, steel and transport.