Africa’s richest man, Aliko Dangote, has dropped out of the list of top 100 richest people in the world. This is largely due to the devaluation of the Naira. Dangote who owns the second largest sugar-refinery in the world, remains richer than American billionaires, Donald Trump, and Oprah Winfrey who ranks as the second richest black woman in the world.
Dangote is now worth $11.1 billion, while Trump and Oprah are estimated at $4.5 billion and $3.1 billion, respectively.
Nigeria Naira Ranked The Worst Performing Currency In Africa
The World Bank has ranked the Nigerian Naira among the worst-performing currencies in Sub-Saharan Africa. In a report titled “Africa’s Pulse: An analysis of issues shaping Africa’s economic future (October 2023 | Volume 28)”, it was stated that the Naira has weakened by 40 percent since the mid June 2023 devaluation. It was also noted … Read more