There are a handful of African entrepreneurs who’ve already built large fortunes by identifying and taking advantage of the opportunities available on the continent’s web space.
Massive broadband fiber optic cables from the West cost to the East, North and the South, allow Africans to build web-based companies providing simple solutions for some of the continent’s most daunting challenges and inconveniences.
Some people that already have made millions in the process, are:
- Abasiama Idaresit
Abasiama Idaresit is a Nigerian-born digital marketing expert and founder and CEO of Wild Fusion, one of Africa’s leading digital marketing agencies. Idaresit founded Wild Fusion in 2010 without any external funding and transformed it into a $10 million (annual revenues) digital marketing firm that offers Internet marketing and digital strategy solutions to some of the largest international corporations in in sub-Saharan Africa.
- Justin Clarke and Carey Eaton
Justin Clarke and Carey Eaton co-founded One Africa Media (OAM), Africa’s largest online classifieds group which owns some of Africa’s most prestigious and lucrative online properties, including a leading property website, a leading job website, West and East Africa’s largest online auto marketplace and South Africa’s leading travel and accommodation booking website.
- Jason Njoku
Jason Njoku is the founder of iRokoTV, the world’s largest distributor of Nigerian movies. iRokoTV streams Nigerian and Ghanaian movies for free online, while users who want to gain access to newer content have to pay a monthly subscription fee.
By 2013 iRoko had more than 500 000 registered subscribers and had raised over $10 million in venture funding from New York-based private equity and hedge fund Tiger Global Management, and $2 million from Swedish investment firm Kinnevik.
- Leah Uwihoreye
Leah Uwihoreye is a Rwandan computer engineer, who founded Made in Rwanda, an e-commerce platform that connects women artisans to online markets.
During a visit to her family’s village she realised many women produced high-quality handicraft but could only sell it sporadically to a few foreign visitors who stopped by the village and started the business to lift them out of poverty.
Made in Rwanda allow women artisans from all over Rwanda to exhibit and trade their products.
- Uju Uzo Ojinnaka
Uju Uzo Ojinnaka is the founder and CEO of Traders of Africa in Nigeria and is still helping others to connect via the power of technology.
Ojinnaka trains women from remote areas of Rwanda to become computer literate and delivers regular talks to female university students to encourage them to embrace the digital economy.
- Herman Heunis
Herman Heunis grew up in Namibia and was the original founder of MXit, Africa’s largest social network and the continent’s first mobile instant messenger.
More than 20 million people in more than 120 countries across the world now use MXit on multiple mobile and computing platforms. In 2011, investment company World Of Avatar (founded by South African millionaire Alan Knott Graig Jr.) acquired MXit from Heunis for over $50 million.
- Sandile Shezi
Sandile Shezi is a South African Forex trader who was living in a ghetto and started by putting his tuition money in the Foreign exchange market while he was still attending the local school.
After his initial investment, he made a solid profit that eventually put him in the list of the best forex traders in the country. Now Shezi is one of the richest and best traders in South Africa.
Shezi owns Global Forex Institute where he teaches young entrepreneurs about Forex trading and how to understand the tools and markets, create powerful trading strategies and to become successful traders.
- Nelisiwe Masango
Nelisiwe Masango is the director of the Forex trading company Bear Run Investments.
Masango developed a love for finances and investments while still at school and soon after starting to learn entrepreneurial management, started trading and became so successful at it that she became one of the top forex traders in South Africa.
Masango also established “Female and Finances” to promote financial awareness and security amongst the women in South Africa, and “Gentle Hands Agency”, a recruitment agency to help the people suffering from the lack of job opportunities.
- Ayisi Makatiani
Ayisi Makatiani, a Kenyan, made his first fortune by co-founding Africa Online, one of the earliest Internet service providers in Africa, in 1994. Africa Online provides dial-up, leased line and wireless connectivity services in Kenya and around East Africa.
In 2000, Makatiani sold a significant share of the company to African Lakes Corporation PLC of Britain, retaining a minority stake. He now runs Fanisi Capital, an African-focused private equity and venture capital fund.
- Njeri Rionge
Njeri Rionge earned her first fortune from co-founding Wananchi Online, an Internet service provider which is now East Africa’s leading cable, broadband and IP (internet-based) phone company. Emerging Capital Partners, an American private equity firm, acquired a 50% stake in the company for $26 million in 2011.
She now runs Ignite Consulting, a successful business consultancy based in Nairobi.
