OPINION: Why is the list of top African billionaires dominated by non-black?

 

Its clear, the richest man in Africa and the black community is Aliko Dangote as for the year 2022.  But i have noticed that there are few blsck bollionaires on the continent. Most of them have got Asian, European or American origin. I came to figure out what might be the reason behind and i came up with the following:

• Colonial effects. Since the colonial period, much of the means of production was controlled by Asian and Europeans. Africans were used as labourers. Many of these outsiders have been able to accumulate much profits through their investments over time.
• Poor financial services among the African continent may have contibuted to poor performance of businesses.
• In-ability to incubate start-ups. Many start ups have been failing to grow due to lack of support from the government institutions.
• Many Africans fail to adapt with modern technologies which can give them a competitive advantage.
• Threats. In some parts, rich peoples safety is compromised with some of them being kidnapped.

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