Here are Top Family dynasties with control over Africa’s economy

Family dynasties have earned a significant amount of control over a portion of Africa’s economy through their multi-billion business empires.

While they are quite common, only a handful enjoy longevity since the survival rate of most of these businesses beyond the founder’s generation is extremely low.

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Here is a list of multi-million-shilling empires that have emerged from the continent over the years with an annual net turnover of Sh.5 billion and at least 30 percent voting rights and equity stake by family, as highlighted by Forbes

1. Remgro

Anton Rupert, a South African businessman, started manufacturing cigarettes from his garage with a £10 (Sh1,250) investment in 1941. Rembrandt, the cigarette company he founded, went on to become one of Africa’s biggest tobacco firms.

Rupert diversified the company from tobacco manufacturing into the industrial and luxury branded goods sectors. In 1988, his son Johann split it into two divisions – Remgro, a Johannesburg Stock Exchange listed investment company – and Richemont, a Swiss-based luxury goods company.

2. Pick n Pay

Raymond Ackerman was fired from his position as a South Africa’s food retailer Checkers managing director in 1966. He used his severance package to buy up three retail outlets in Cape Town which traded under the name Pick n Pay.

Ackerman built Pick n Pay to become one of the most popular and largest retail outlets in South African. Pick n Pay now has close to 800 stores in southern Africa. Ackerman’s first son Gareth Ackerman took over as chairman in 2010.

3. Dantata Organisation

Dantata Organisation was founded around 1910 by Alhassan Dantata who traded in kolanuts, cocoa, beads and groundnuts in Lagos and Accra under Alhassan Dantata & Sons Ltd.

Upon Alhassan’s death in 1955, the mantle on running the business fell on his four sons, Mamuda, Sanusi, Ahmadu and Aminu. Aminu is now in charge of the overall family business.

The Dantata Organisation, with a Sh30 billion revenue annually, is a large conglomerate with interests in oil exploration, manufacturing, banking and finance.

4. Ibru Organisation

In 1957 Nigerian businessman Olorogun Michael Ibru started importing and selling frozen fish from the back of a truck. As his fish trading business grew, he chartered his first fishing boat and went into large scale fishing, acquiring fishing trawlers.

From fishing, the company expanded into brewing, construction, petroleum distribution and bulk storage. Ibru’s first son, Oskar, took the helm of the organisation in the 1980s.

5. METL Group

Mohammed Enterprise Limited (METL) is one of the largest industrial conglomerates in East Africa. Gulam Dewji founded the conglomerate in 1960 as a commodities trading firm until his eldest son, Mohammed ‘Mo’ Dewji joined the business.

Mo began acquiring government-owned textile and soap manufacturing entities. METL’s turnover now exceeds Sh100 billion, mainly driven by its textile and soap manufacturing units.

6. Chandaria Industries

Chandaria Industries is the largest company within Chandaria Group’s portfolio and was established on by billionaire entrepreneur and philanthropist Manu Chandaria.

The company started out as a small tissue converting operation and today is the largest tissue and hygiene products manufacturer in Kenya, East, and Central Africa. The business is managed by the Group Managing Director, Mahesh Chandaria and his two sons Darshan Chandaria and Neer Chandaria.

7. Bidco Africa

Bidco Oil Refineries was founded in 1970 by Bhimji Depar Shah as a garment manufacturing outfit, before he and his sons shifted their focus to edible oils.

Bidco has a 49 per cent share of the edible oils market in Kenya. Bhimji’s eldest son Vimal Shah currently serves as the chief executive of the Sh50 billion valued company. Bidco Africa has manufacturing factories in Kenya, Tanzania and Uganda with more than 40 brands distributed across 17 African countries.

8. Bakhresa Group

Said Salim Bakhresa laid the foundation of the Bakhresa group as a teenager when he began selling potato mix after dropping out of school in Tanzania. He subsequently opened up a series of small business operations including a small restaurant and an ice cream manufacturing operation and reinvested his profits in setting up a grain milling operation.

Today, Bakhresa group is Tanzania’s dominant food manufacturing company. Bakhresa’s two sons, Mohammed and Abubakar, are both Executive Directors of the company. Now known as Azam Bakhresa Group,its market value is placed at more than Sh80 billion.

9. Madhvani Group

In 1918, Muljibhai Madhvani acquired a piece of land in Kakira, Uganda and established a sugar factory. Kakira Sugarworks today produces an estimated 165,000 tonnes of sugar annually.

It is also the flagship company of the Madhavani Group, a large Ugandan conglomerate that owns numerous hotels, tea estates, construction, insurance and distribution companies. Madhvani’s youngest son, Mayur Madhvani, currently holds the reins as CEO.

10. Ramco Group

Kenya’s Ramco Group was founded by Rambhai Patel, an Indian immigrant who settled in Nairobi in the early 1940s and founded a hardware store in the city’s downtown district.

His three sons, Kirit, Mahendra and Chandrakant joined the family business after completing their studies and helped expand Ramco’s holdings into print, stainless steel, IT and office supplies. Ramco now has an annual turnover in excess of Sh22 billion. The first son Kirit currently serves as chairman.

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