Two out of five companies you know are run by family members. Some companies have been around for ages and have grown a lot to this day. Africa has a number of companies of this type. While some people are skeptical about doing business with family members, these African energy companies have proven that doing business with family members is only the best in terms of durability, growth and commitment. Running a family business has its advantages, on the one hand everyone is committed and part of the team; Working towards a unified goal that transcends monetary values. It is about creating and passing on a legacy from one generation to another.
1. Dantata Organization Limited
Industry: Miscellaneous Business
Nationality: Nigerian
Annual Sales: Over $300 million
The patriarch of the multi-million naira business empire is Alhassan Dantata, a disciplined, thrifty and hardworking businessman. He started trading kola nuts and then ventured into selling other commodities such as peanuts. A business in the Kano markets has good potential as Kano was a business location attended by people from different African countries – Cameroon, Benin, Togo, Niger, Chad, Burkina Faso. He maintained business connections throughout West Africa, particularly in Ghana, where he went to live with his mother at an earlier age after the death of his father, who was also a notable wealthy man. At the time of his death in 1955, he was considered the richest man in West Africa.
His sons took over from him and created a marketing network that made the peanut business possible. Nigerian billionaire Dangote owes central support to the success of the Dantatas, who were also his maternal relatives. They provided credit for people like him (Dangote) at the time. Founded in 1910, the Dantata Organization is now a conglomerate serving diverse business interests – oil and gas, manufacturing, traditional merchandising, import and export, construction, and banking and finance. In fact, Dantata was the first businessman in Kano to have a bank account and deposit 20 camel loads of silver coins.
2. Mohammed Enterprise Tanzania (MET) Limited
Industry: Miscellaneous Business
Nationality: Tanzania
Net worth: $1.3 billion
Gulam Dewji is the Founder/Head of METL, the largest privately held conglomerate in Tanzania. Mohammed Gulan Dewji, his son, turned the typical national trading business into a money-spinning enterprise. Currently, Mohammed Forbes is the 31st richest African and the richest man in Tanzania. The METL group of companies is interested in textiles, manufacturing, distribution, real estate and agriculture. Mohammed invested in the privatization of state textile and soap companies.
3. Ibru organizations
Industry: Miscellaneous Business
Nationality: Nigerian
Net worth (income and earnings): $1.1 billion
Olorogun Micheal Ibru started the organization in 1956 with fresh fish distribution and later diverted to other businesses such as oil and gas, tourism, aviation, timber, agriculture, shipping and banking in the 1960s. In his youth, he partnered with Jimmy Large to form the short-lived trading company Laibru. He also trained and worked at the United African Company (UAC) and later began trading seafood. By the 1970s the fishing business had become an enormous success. Over time he turned to other business interests with all members of his family actively involved in running the group of companies as they were involved in the companies. Aside from the fact that Micheal’s personality as a shrewd businessman is an asset, his success cannot be matched by the strong support and support of family members, some of whom have become involved in politics and national affairs. The Ibru clan has never failed to give back to the Urhobo community, their homeland.
4. Select “n Pay”
Industry: retail
Nationality: South Africa
Net worth: $500 million
Raymond Ackerman is a philanthropist and owner of the Pick ‘n Pay chain of stores. He owns 53% of his company and hundreds of businesses in South Africa, Zimbabwe and Australia. Pick ‘n Pay is one of the largest and best-known supermarket chains in South Africa with around 50,000 employees. His children have taken over running the business with the eldest Gareth as head of the establishment. Ackerman worked at the South African grocery retailer Checkers in 1966. He was fired, but used his layoff pay to buy Jack Goldin’s Pick ‘n Pay stores. After four decades, 4 stores grew into a chain of more than 124 supermarkets, about 20 hypermarkets, 179 franchise stores and a number of stores.
5. Bidco Africa
Industry: Miscellaneous Business
Nationality: Kenya
Net worth: $700 million
Bhimji Depar Shah is an Asian-Kenyan businessman who started his business from making clothes. In 1985 he started making soap and then fully concentrated on the production of edible oils. Bidco Africa has a 49% share of the Kenya cooking oil market and owns over 40 brands in the country including Bidco Oil Refineries. As the largest consumer goods in Kenya, their products are also sold and distributed in 14 other African countries. Bidco Africa is equally owned by Bhimji and his sons. Vimal Shah, the eldest son, is the current CEO of Bidco Africa, a $500 million annual company.
6. Remgro Limited
Sector: Miscellaneous Business (Luxury Goods)
Nationality: South Africa
Net worth (income and earnings): $2.3 billion
Remgro Limited is a global empire founded by Anton Rupert, philanthropist and art enthusiast. He dropped out of medical school because he couldn’t afford it at the time. With a meager sum of £10 in 1941, he ventured into the tobacco industry, using his garage as a factory. In later years, its Voorbrand cigarettes had transformed into a leading tobacco and industrial conglomerate with successful international partnerships. Remgro Limited has two groups of companies – Richemont and Remgro. Both are run by Johann Rupert, who is Forbes 2nd richest in Africa. As an environmentalist, Anton is a founding member of the WWF-World Wild Life Fund. Anton’s businesses have survived several decades (60 years) and are still growing strongly under the leadership of his hardworking son. In 2006, Anton’s net worth was around $1.7 billion. Along the way, Remgro still shows interest in promoting education, art, music and the preservation of historic buildings. Her business interests include but are not limited to: petroleum products, medical services, printing and packaging services, automotive, food, banking and financial services.
7. Ramco Group
Industry: Miscellaneous Business
Nationality: Kenya
Annual sales: $265 million
Founded by Haresh Rambhai Patel, an Indian immigrant who found solace in Kenya. The Ramco Group is a conglomerate of 34 companies specializing in printing, stainless steel, IT and office supplies, as well as hardware and building materials. Ramco is one of the leading companies across East Africa – Uganda, Tanzania and Rwanda – and employs over 3000 people. The diverse empire was founded in 1948 as a simple hardware store. Haresh has three sons who are also part of the business.
8. Bakhresa Group
Industry: Miscellaneous Business
Nationality: Tanzania
Net worth: $520 million
Said Salim Bakhresa is a business mogul in Tanzania. He dropped out of school early and started selling potato mix. He then ran his small restaurant, which has grown into one of the largest conglomerates in East Africa. The Bakhresa conglomerate is a diverse group of companies with the largest milling company in East Africa, as well as the milling operations throughout the region. Bakhresa is known for the manufacturing and production of food in various forms – grain, confectionery, frozen food, beverage and packaging. As well as this obvious focus on groceries, Bakhresa has also dabbled in oil and gas and ferry deals. Said, the owner and founder of the consortium, is dedicated to malaria prevention.
9. Madhvani Group
Industry: Miscellaneous Business
Nationality: Uganda
Annual Sales: Over $100 million
Muljibhai Madhvani is a Ugandan businessman who migrated to Uganda from India at the age of 14. He previously had retail experience working for his uncles. The Madhvani family went through a difficult period when Idi Amin oppressed and expelled them. They later returned, obtained loans from several banks, and bounced back. Its conglomerate of over 34 companies employs over 10,000 people and even contributes 10% to Uganda’s GDP. Madhvani workers and dependents enjoy incredible fringe benefits such as free education, housing and group health care. His business grew from sugar, textiles, and beer, moving into oil and soap making, steel, tea, and glass production. his sons, who have contributed to the growth and revitalization of businesses also provided a basis for her father’s patriotic vision of providing scholarships to the less financially privileged. and sponsorship in key areas such as trade, agriculture, IT and science. Muljibhai Madhvani is a charismatic business mogul and outspoken philanthropist.
10. Kenyatta Conglomerate
Industry: Miscellaneous Business
Nationality: Kenya
Net worth: $500 million
Mzee Jomo Kenyatta was a one-time president and in fact the Kenyan ruler is known as the founding father of Kenya. Because of his position, Jomo was able to acquire the largest land holding during British colonial rule – 500,000 acres of land in Kenya. The Kenyatta family is also the owner of several companies such as the Mediamax Group, Commercial Bank of Africa, Brookside Diaries and Heritage Hotels which are kept secret and known only to the family. The political interest shown by the patriarch of this business still runs in the family.