BREAKING NEWS 🚨‼️
South African has officially suspended all American businesses within South African territory and stopped to export of minerals to the United States. 🇿🇦✂️🇺🇸
This comes just few days after Donald Trump cut off all fundings from the US to South Africa and the USAID to South Africa.
The South African government categorically made it clear to Trump that America is nothing without minerals from Africa and if he thinks Africans are nothing but mere beggars, then he should go look for minerals elsewhere because Africa is tired of the blatant d8srespect and disregard they keep getting from the Western world 🌍
The US makes over $25-billion in profits from South Africa annually. This is gonna affect both the American and South African economy very badly.
No African country has ever stood up against the United States like this 🙌
@PatternFin
South African has officially suspended all American businesses within South African territory and stopped to export of minerals to the United States. 🇿🇦✂️🇺🇸
This comes just few days after Donald Trump cut off all fundings from the US to South Africa and the USAID to South Africa.
The South African government categorically made it clear to Trump that America is nothing without minerals from Africa and if he thinks Africans are nothing but mere beggars, then he should go look for minerals elsewhere because Africa is tired of the blatant d8srespect and disregard they keep getting from the Western world 🌍
The US makes over $25-billion in profits from South Africa annually. This is gonna affect both the American and South African economy very badly.
No African country has ever stood up against the United States like this 🙌
@PatternFin
A Game-Changing Partnership!
Arts TV has officially signed a strategic partnership with ArifPay, paving the way for a groundbreaking integration of e-commerce and showbiz.
Through our flagship programs “ኩል", "ቅዳሜ ገበያ", and "እፍታ", we’re creating a dynamic platform that promotes e-commerce, digital transactions, and the creative economy, redefining the media landscape like never before.
@PatternFin
Arts TV has officially signed a strategic partnership with ArifPay, paving the way for a groundbreaking integration of e-commerce and showbiz.
Through our flagship programs “ኩል", "ቅዳሜ ገበያ", and "እፍታ", we’re creating a dynamic platform that promotes e-commerce, digital transactions, and the creative economy, redefining the media landscape like never before.
@PatternFin
👍1
የንብ ባንክ አዳዲስ የክፍያ ሥርአት ማብሰርያ መርሐ ግብር ተካሄደ የንብ ኢንተርናሽናል ባንክ ደንበኞች ሥራቸውን ለማቀላጠፍና ምቹ የክፍያ ሥርአት መፈጸም የሚያስችላቸውን ንብ አምበር ፔይ እና ንብ ፔይስትሪም የተሰኙ የዲጅታል አገልግሎት መተግበሪያዎች ማብሰርያ መርሐ ግብር ተካሄደ፡፡
@PatternFin
@PatternFin
Pattern Finance and Investment - ፋይናንስ
የንብ ባንክ አዳዲስ የክፍያ ሥርአት ማብሰርያ መርሐ ግብር ተካሄደ የንብ ኢንተርናሽናል ባንክ ደንበኞች ሥራቸውን ለማቀላጠፍና ምቹ የክፍያ ሥርአት መፈጸም የሚያስችላቸውን ንብ አምበር ፔይ እና ንብ ፔይስትሪም የተሰኙ የዲጅታል አገልግሎት መተግበሪያዎች ማብሰርያ መርሐ ግብር ተካሄደ፡፡ @PatternFin
የንብ ባንክ አዳዲስ የክፍያ ሥርአት ማብሰርያ መርሐ ግብር ተካሄደ የንብ ኢንተርናሽናል ባንክ ደንበኞች ሥራቸውን ለማቀላጠፍና ምቹ የክፍያ ሥርአት መፈጸም የሚያስችላቸውን ንብ አምበር ፔይ እና ንብ ፔይስትሪም የተሰኙ የዲጅታል አገልግሎት መተግበሪያዎች ማብሰርያ መርሐ ግብር ተካሄደ፡፡
በባንኩ ዋና መሥሪያ ቤት የካቲት 5 ቀን 2017 ዓ.ም የመተግበሪያዎቹ ሥራ ለማስጀመር በተዘጋጀው ፕሮግራም ላይ የባንኩ ዋና ሥራ አስፈጻሚ አቶ ሔኖክ ከበደ ባደረጉት ንግግር፣ “ወደ ሥራ ከሚገቡት ፕሮጀክቶች አንዱ የሆነው ንብ አምበር ፔይ በንግድ ሥራ ላይ ለተሰማሩ የባንካችን ደንበኞች ለሚሰጡት አገልግሎት ከደንበኞቻቸው የሚከፈሉ ክፍያዎችን በቀላሉ በአስተማማኝ መንገድ በመተግበር፤ ክፍያን ከመቀበያነት በተጨማሪ ደንበኞች የንግድ እንቅስቃሴያቸውን በቀላሉ በእጅ ስልካቸው የሚከታተሉበትን መንገድ ተግባራዊ አድርጓል” ብለዋል።
ሁለተኛው ወደ ሥራ የሚገባው ፕሮዳክት ንብ ፔይስትሪም የተሰኘው የአገልግሎት መተግበሪያ ሲሆን፤ በበይነ መረብ የሚደረጉ ግብይቶችን ለማቀላጠፍ ታስቦ የተተገበረ ሲሆን ይህን መተግበሪያ በመጠቀም የንግዱ ማኅበረሰብ ለሚሰጧቸው አገልግሎቶች ክፍያቸውን በኦንላይን መቀበል የሚያስችላቸው መሆኑ ዋና ሥራ አስፈጻሚው አስረድተዋል፡፡
ወደ ሥራ እየገባ ያለዉ ንብ አምበር ፔይ ለንግዱ ማኅበረሰብ ካቀረባቸው አራት የገንዘብ መቀበያ ዘዴዎች በተጨማሪ፤ መተግበሪያው ከአንድ በላይ የሽያጭ ሠራተኞች ላሏቸው የንግድ ተቋማትና ድርጅቶች ለሽያጭ ሠራተኞቹ በሚሰጥ የሞባይል መተግበሪያ ከአንድ ቋት ገንዘብ እንዲቀበሉ የሚያስችል በመሆኑ ከአንድ በላይ የሽያጭ ሠራተኞች በሚሰማሩባቸው የንግድ ቦታዎች ጉልህ ሚና እንደሚኖረው ይጠበቃል፡፡
ንብ ኢንተርናሽናል ባንክ ለትግበራ ያበቃቸው የዲጂታል ፕሮዳክቶች ዘመኑ የሚፈልገውን በተገቢው መንገድ በመረዳት፤ የደንበኞቻችን ምቾትና የሥራ ጥራት በዲጅታል ሥርዓት ለመለወጥ እየተደረጉ ያሉ ጥረቶች ከማሳየት ባሻገር በባንኩ የውስጥ አቅም በሚሠሩ የቴክኖሎጂ ሥራዎች ፍሬያማ ጉዞ መጀመሩን የሚያሳዩ እንደሆኑ አቶ ሔኖክ ጠቁመዋል፡፡
በቀጣይም ባንኩ ጥረቱን አጠናክሮ፣ አዳዲስ ቴክኖሎጂዎችን እየተከታተለ ሥራ ላይ ማዋሉን እንደሚቀጥል በሥነ ሥርአቱ ላይ ተገልጿል፡፡
በባንኩ ዋና መሥሪያ ቤት የካቲት 5 ቀን 2017 ዓ.ም የመተግበሪያዎቹ ሥራ ለማስጀመር በተዘጋጀው ፕሮግራም ላይ የባንኩ ዋና ሥራ አስፈጻሚ አቶ ሔኖክ ከበደ ባደረጉት ንግግር፣ “ወደ ሥራ ከሚገቡት ፕሮጀክቶች አንዱ የሆነው ንብ አምበር ፔይ በንግድ ሥራ ላይ ለተሰማሩ የባንካችን ደንበኞች ለሚሰጡት አገልግሎት ከደንበኞቻቸው የሚከፈሉ ክፍያዎችን በቀላሉ በአስተማማኝ መንገድ በመተግበር፤ ክፍያን ከመቀበያነት በተጨማሪ ደንበኞች የንግድ እንቅስቃሴያቸውን በቀላሉ በእጅ ስልካቸው የሚከታተሉበትን መንገድ ተግባራዊ አድርጓል” ብለዋል።
ሁለተኛው ወደ ሥራ የሚገባው ፕሮዳክት ንብ ፔይስትሪም የተሰኘው የአገልግሎት መተግበሪያ ሲሆን፤ በበይነ መረብ የሚደረጉ ግብይቶችን ለማቀላጠፍ ታስቦ የተተገበረ ሲሆን ይህን መተግበሪያ በመጠቀም የንግዱ ማኅበረሰብ ለሚሰጧቸው አገልግሎቶች ክፍያቸውን በኦንላይን መቀበል የሚያስችላቸው መሆኑ ዋና ሥራ አስፈጻሚው አስረድተዋል፡፡
ወደ ሥራ እየገባ ያለዉ ንብ አምበር ፔይ ለንግዱ ማኅበረሰብ ካቀረባቸው አራት የገንዘብ መቀበያ ዘዴዎች በተጨማሪ፤ መተግበሪያው ከአንድ በላይ የሽያጭ ሠራተኞች ላሏቸው የንግድ ተቋማትና ድርጅቶች ለሽያጭ ሠራተኞቹ በሚሰጥ የሞባይል መተግበሪያ ከአንድ ቋት ገንዘብ እንዲቀበሉ የሚያስችል በመሆኑ ከአንድ በላይ የሽያጭ ሠራተኞች በሚሰማሩባቸው የንግድ ቦታዎች ጉልህ ሚና እንደሚኖረው ይጠበቃል፡፡
ንብ ኢንተርናሽናል ባንክ ለትግበራ ያበቃቸው የዲጂታል ፕሮዳክቶች ዘመኑ የሚፈልገውን በተገቢው መንገድ በመረዳት፤ የደንበኞቻችን ምቾትና የሥራ ጥራት በዲጅታል ሥርዓት ለመለወጥ እየተደረጉ ያሉ ጥረቶች ከማሳየት ባሻገር በባንኩ የውስጥ አቅም በሚሠሩ የቴክኖሎጂ ሥራዎች ፍሬያማ ጉዞ መጀመሩን የሚያሳዩ እንደሆኑ አቶ ሔኖክ ጠቁመዋል፡፡
በቀጣይም ባንኩ ጥረቱን አጠናክሮ፣ አዳዲስ ቴክኖሎጂዎችን እየተከታተለ ሥራ ላይ ማዋሉን እንደሚቀጥል በሥነ ሥርአቱ ላይ ተገልጿል፡፡
👍1
Norway is set to become the first country to fully transition to electric vehicles
Norway, which boasts vast oil and gas reserves, has long been recognized as a global leader in sustainable transportation.
The country’s electric vehicle sales have increased from less than 1% of total auto sales in 2010 to a whopping 88.9% last year.
“This is the new normal,” Norway’s Deputy Transport Minister Cecilie Knibe Kroglund told CNBC.
#CNBC
@PatternFin
Norway, which boasts vast oil and gas reserves, has long been recognized as a global leader in sustainable transportation.
The country’s electric vehicle sales have increased from less than 1% of total auto sales in 2010 to a whopping 88.9% last year.
“This is the new normal,” Norway’s Deputy Transport Minister Cecilie Knibe Kroglund told CNBC.
#CNBC
@PatternFin
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Foreign Banks Entry.pdf
347.2 KB
How will the entry of foreign banks benefit consumers?
The entry of foreign banks promises increased competition, greater credit access, and improved services. However, risks like high fees, limited access, and complex products may require careful consideration.
Consumers must be informed, compare options, and understand product terms.
Financial planners and consumer protection bodies can offer valuable guidance. Ultimately, these changes can pave the way for a more secure and inclusive financial system.
©️Haimanot & Advocates
@PatternFin
The entry of foreign banks promises increased competition, greater credit access, and improved services. However, risks like high fees, limited access, and complex products may require careful consideration.
Consumers must be informed, compare options, and understand product terms.
Financial planners and consumer protection bodies can offer valuable guidance. Ultimately, these changes can pave the way for a more secure and inclusive financial system.
©️Haimanot & Advocates
@PatternFin
AFRICA will no longer accept to be misjudged by the scales of global credit rating agencies that overlook our reality - says Kenya’s in Ethiopia 🇪🇹.
“By relying on flawed models, outdated assumptions, and systemic bias, these agencies have painted an unfair picture of our economies, leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs.”
“The establishment of an Africa Credit Rating Agency, backed by credible data that accurately reflects Africa’s reality, will unlock the much-needed finance to fund the continent’s development programmes and bring meaningful change to the people.”
@PatternFin
“By relying on flawed models, outdated assumptions, and systemic bias, these agencies have painted an unfair picture of our economies, leading to distorted ratings, exaggerated risks, and unjustifiably high borrowing costs.”
“The establishment of an Africa Credit Rating Agency, backed by credible data that accurately reflects Africa’s reality, will unlock the much-needed finance to fund the continent’s development programmes and bring meaningful change to the people.”
@PatternFin
Pattern Finance and Investment - ፋይናንስ
African Union launches rating agency to tackle bias by global firms
African Union launches rating agency to tackle bias by global firms
The African Union has announced the launch of its own rating agency, the African Credit Rating Agency (AfCRA), to address biases by global rating firms.
A study by the Africa Peer Review Mechanism and the United Nations Development Programme highlights that biased grading has cost Africa a staggering USD75 billion in lost opportunities.
According to Ruto, improving Africa’s rating by one notch could unlock $15.5 billion in additional funding for the continent, which could help replace a significant portion of official development assistance or be invested in Africa’s infrastructure needs.
Despite Africa’s abundant natural wealth, only two African nations are currently ranked as investment grade. “It is time for Africa to use the right scale, one that reflects its true weight,” Ruto added.
The African Union has previously criticized global rating agencies’ characterization of African economies. In January, the AU pointed out that Moody’s Ratings’ fluctuating assessment of Kenya’s outlook was flawed.
“As the continent continues its march towards economic integration and resilience, the establishment of the African Credit Rating Agency (AfCRA) represents a pivotal step in asserting Africa’s position on global financial governance.”
The agency aims to provide fair, transparent, and development-focused credit ratings that reflect the realities and potential of African economies.
The idea of creating an African credit rating agency has been in the pipeline for years. In September 2023, the AU officially announced its plans to move forward with the project.
This decision comes after repeated criticism of the “Big Three” rating agencies—Moody’s, Fitch, and S&P—accused of applying a “negative bias” when assessing African economies.
Critics argue that these ratings often lead to higher borrowing costs for African countries and, in some cases, make it harder for them to access international financial markets.
The push for an African credit rating agency indeed gained momentum in 2022 when Senegal’s former president Macky Sall, who was then chair of the AU, called for a new system to “end the injustices” faced by African countries.
@PatternFin
The African Union has announced the launch of its own rating agency, the African Credit Rating Agency (AfCRA), to address biases by global rating firms.
A study by the Africa Peer Review Mechanism and the United Nations Development Programme highlights that biased grading has cost Africa a staggering USD75 billion in lost opportunities.
According to Ruto, improving Africa’s rating by one notch could unlock $15.5 billion in additional funding for the continent, which could help replace a significant portion of official development assistance or be invested in Africa’s infrastructure needs.
Despite Africa’s abundant natural wealth, only two African nations are currently ranked as investment grade. “It is time for Africa to use the right scale, one that reflects its true weight,” Ruto added.
The African Union has previously criticized global rating agencies’ characterization of African economies. In January, the AU pointed out that Moody’s Ratings’ fluctuating assessment of Kenya’s outlook was flawed.
“As the continent continues its march towards economic integration and resilience, the establishment of the African Credit Rating Agency (AfCRA) represents a pivotal step in asserting Africa’s position on global financial governance.”
The agency aims to provide fair, transparent, and development-focused credit ratings that reflect the realities and potential of African economies.
The idea of creating an African credit rating agency has been in the pipeline for years. In September 2023, the AU officially announced its plans to move forward with the project.
This decision comes after repeated criticism of the “Big Three” rating agencies—Moody’s, Fitch, and S&P—accused of applying a “negative bias” when assessing African economies.
Critics argue that these ratings often lead to higher borrowing costs for African countries and, in some cases, make it harder for them to access international financial markets.
The push for an African credit rating agency indeed gained momentum in 2022 when Senegal’s former president Macky Sall, who was then chair of the AU, called for a new system to “end the injustices” faced by African countries.
@PatternFin
የብሔራዊ ባንክ የግምጃ ቤት ሰነድ ወለድ ከግሽበት እና ፖሊሲ ምጣኔ በላይ መሆኑን አስታወቀ
የኢትዮጵያ ብሔራዊ ባንክ የግምጃ ቤት ሰነዶች (Tbills) የወለድ ምጣኔ ላይ ከፍተኛ ጭማሪ ማሳየቱንና ለመጀመሪያ ጊዜ ከፖሊሲ ምጣኔ በላይ መሆኑን አስታውቋል፣ ይህም አዎንታዊ ምጣኔን ያመለክታል ነው የተባለው።
የኢትዮጵያ ብሔራዊ ባንክ የካቲት 6፤2017 ዓ.ም. ባሳተመው አጭር ሪፖርት መሠረት የአንድ ዓመት የግምጃ ቤት ሰነዶች የወለድ ምጣኔ በበጀት ዓመቱ መጀመሪያ ላይ ከነበረው ጋር ሲነጻጸር በ57 በመቶ ጨምሯል።
በሐምሌ ወር 10 በመቶ የነበረው ምጣኔ በስድስት ወራት ውስጥ ወደ 15.7 በመቶ ከፍ ብሏል፣ ይህም ጥር ላይ ከተመዘገበው የ15.5 በመቶ የዋጋ ግሽበት እና የ15 በመቶ የፖሊሲ ምጣኔ አንጻር ከፍተኛው መጠን ሆኖ እንዲቀመጥ ያደረገ ነው።
በቲ-ቢል ምጣኔዎች ላይ የቅርብ ጊዜ ጭማሪ የአለም አቀፋዊ የገንዘብ ድርጅት (አይኤምኤፍ ) የሚሰጠውን ምክር ተከትሎ የመጣ ሲሆን፣ ይህም ማዕከላዊ ባንክ ተጨማሪ ተጫራቾችን ለመሳብ እና ሀብት ለማሰባሰብ የሚረዳ መሆኑ ነው አይኤምኤፍ ሲገለጽ የቆየው፡፡
አሁን ላይ የተቀማጭ ወለድ ከግሽበት አንጻር በከፍተኛ መጠን ቅናሽ ያለው መሆኑ ይጠቀሳል፡፡ በተመሳሳይ የመግስት የግምጃ ቤት ሰነድ ጨረታ ላይ ማእከላዊ ባንኩ የሚቀበለው የወለድ ምጣኔ ከ10 በመቶ አይበልጥም ነበር፡፡
በመሆኑም ከፍ ያለ ወለድ የሚጠይቁ ተጫራቾች በጨረታው አያሸንፉም ነበር፡፡ ሆኖም ባለፉት ጥቂት ወራት ባንኩ ከፍ ያሉ የወለድ መጠኖችን እየተቀበለ መምጣቱ ነው የሚነገረው፡፡ #Capital
@PatternFin
የኢትዮጵያ ብሔራዊ ባንክ የግምጃ ቤት ሰነዶች (Tbills) የወለድ ምጣኔ ላይ ከፍተኛ ጭማሪ ማሳየቱንና ለመጀመሪያ ጊዜ ከፖሊሲ ምጣኔ በላይ መሆኑን አስታውቋል፣ ይህም አዎንታዊ ምጣኔን ያመለክታል ነው የተባለው።
የኢትዮጵያ ብሔራዊ ባንክ የካቲት 6፤2017 ዓ.ም. ባሳተመው አጭር ሪፖርት መሠረት የአንድ ዓመት የግምጃ ቤት ሰነዶች የወለድ ምጣኔ በበጀት ዓመቱ መጀመሪያ ላይ ከነበረው ጋር ሲነጻጸር በ57 በመቶ ጨምሯል።
በሐምሌ ወር 10 በመቶ የነበረው ምጣኔ በስድስት ወራት ውስጥ ወደ 15.7 በመቶ ከፍ ብሏል፣ ይህም ጥር ላይ ከተመዘገበው የ15.5 በመቶ የዋጋ ግሽበት እና የ15 በመቶ የፖሊሲ ምጣኔ አንጻር ከፍተኛው መጠን ሆኖ እንዲቀመጥ ያደረገ ነው።
በቲ-ቢል ምጣኔዎች ላይ የቅርብ ጊዜ ጭማሪ የአለም አቀፋዊ የገንዘብ ድርጅት (አይኤምኤፍ ) የሚሰጠውን ምክር ተከትሎ የመጣ ሲሆን፣ ይህም ማዕከላዊ ባንክ ተጨማሪ ተጫራቾችን ለመሳብ እና ሀብት ለማሰባሰብ የሚረዳ መሆኑ ነው አይኤምኤፍ ሲገለጽ የቆየው፡፡
አሁን ላይ የተቀማጭ ወለድ ከግሽበት አንጻር በከፍተኛ መጠን ቅናሽ ያለው መሆኑ ይጠቀሳል፡፡ በተመሳሳይ የመግስት የግምጃ ቤት ሰነድ ጨረታ ላይ ማእከላዊ ባንኩ የሚቀበለው የወለድ ምጣኔ ከ10 በመቶ አይበልጥም ነበር፡፡
በመሆኑም ከፍ ያለ ወለድ የሚጠይቁ ተጫራቾች በጨረታው አያሸንፉም ነበር፡፡ ሆኖም ባለፉት ጥቂት ወራት ባንኩ ከፍ ያሉ የወለድ መጠኖችን እየተቀበለ መምጣቱ ነው የሚነገረው፡፡ #Capital
@PatternFin
👍1
The richest man in Africa, Aliko Dangote, will set up a second production line at his cement factory in Ethiopia – increasing its capacity to 5 million tonnes per annum, up from 2.5 million tonnes currently.
In addition, the Nigerian billionaire’s conglomerate will set up a new grinding unit near the Ethiopian capital, with a capacity of 3 million tonnes per annum and a Urea production plant.
Dangote is also interested in Ethiopia’s sugar industry, including enhancing operations at the Omo Kuraz sugar company.
#TheKenyanWallStreet
@PatternFin
In addition, the Nigerian billionaire’s conglomerate will set up a new grinding unit near the Ethiopian capital, with a capacity of 3 million tonnes per annum and a Urea production plant.
Dangote is also interested in Ethiopia’s sugar industry, including enhancing operations at the Omo Kuraz sugar company.
#TheKenyanWallStreet
@PatternFin
African Stock Market and Export Growth.pdf
19.1 MB
African stock exchanges and Export Growth;
An Analytical Perspective
African stock exchanges play a vital role in financing export-driven industries, driving economic growth and global competitiveness. Understanding this connection is key for investors and policymakers.
Read the attached resourceful document!
Doc prepared by #Bruh_Finance
@PatternFin
An Analytical Perspective
African stock exchanges play a vital role in financing export-driven industries, driving economic growth and global competitiveness. Understanding this connection is key for investors and policymakers.
Read the attached resourceful document!
Doc prepared by #Bruh_Finance
@PatternFin
Ethiopia bond investors accuse IMF over debt relief
Debtholders committee says government finances boosted by jump in coffee and gold exports
#TheFinancialTimes
Link; https://www.ft.com/content/40c35ffd-fa86-445f-9c4c-dc434b61de25
Debtholders committee says government finances boosted by jump in coffee and gold exports
#TheFinancialTimes
Link; https://www.ft.com/content/40c35ffd-fa86-445f-9c4c-dc434b61de25
Pattern Finance and Investment - ፋይናንስ
Photo
Africa's richest man just got a lot richer.
Meet Aliko Dangote.
He's now worth an estimated $23.9 billion.
Almost double the $13.9B Forbes pegged him at last year.
And according to an article published in the magazine just yesterday, he insists he's even richer. 👀
Here's how the GOAT of African industrialization got there.
Born in Kano, Nigeria, in 1958.
To a wealthy trading family.
Started as an 8-year-old trader.
Used his allowance to buy sweets in bulk.
Recruited a team to sell at school.
Collected the profit.
Went on to study business.
In Cairo at Al-Azhar University.
Graduated.
Got a $500k loan from his uncle.
Started an import-export trading firm in Lagos.
But he had bigger dreams.
Nigeria was transitioning from military rule to democracy.
He saw an opportunity to build, not just trade.
Seized it.
Pivoted to manufacturing.
Started with sugar, flour, and cement.
Built Dangote Cement Plc into an empire — generating 60%+ gross margins most years.
Then in 2013, he made his boldest bet (yet).
A $23 billion investment in oil refining.
Africa's largest petroleum refinery.
Everyone said it couldn't be done.
11 years of setbacks and challenges.
65 million cubic meters of sand dredged.
Still ~$3 billion in outstanding debt today.
But he persisted.
Today, that bet has paid off:
• Africa's largest refinery
• Processing 500,000 barrels per day
• 7th largest globally
• Made Nigeria a net exporter of jet fuel, naphtha, and fuel oil
• Doubled his fortune to $23.9B (at minimum)
His mission now?
Provide a blueprint for African industrialization.
"Africa has been a mere dumping ground for finished products. We have to build our own nation by ourselves. We have to build our own continent by ourselves."
Next up?
• Taking the refinery public
• Building a subsea gas pipeline
• Doubling fertilizer production
"I've been fighting battles all my life, and I haven't lost one yet." — Aliko Dangote
@PatternFin
Meet Aliko Dangote.
He's now worth an estimated $23.9 billion.
Almost double the $13.9B Forbes pegged him at last year.
And according to an article published in the magazine just yesterday, he insists he's even richer. 👀
Here's how the GOAT of African industrialization got there.
Born in Kano, Nigeria, in 1958.
To a wealthy trading family.
Started as an 8-year-old trader.
Used his allowance to buy sweets in bulk.
Recruited a team to sell at school.
Collected the profit.
Went on to study business.
In Cairo at Al-Azhar University.
Graduated.
Got a $500k loan from his uncle.
Started an import-export trading firm in Lagos.
But he had bigger dreams.
Nigeria was transitioning from military rule to democracy.
He saw an opportunity to build, not just trade.
Seized it.
Pivoted to manufacturing.
Started with sugar, flour, and cement.
Built Dangote Cement Plc into an empire — generating 60%+ gross margins most years.
Then in 2013, he made his boldest bet (yet).
A $23 billion investment in oil refining.
Africa's largest petroleum refinery.
Everyone said it couldn't be done.
11 years of setbacks and challenges.
65 million cubic meters of sand dredged.
Still ~$3 billion in outstanding debt today.
But he persisted.
Today, that bet has paid off:
• Africa's largest refinery
• Processing 500,000 barrels per day
• 7th largest globally
• Made Nigeria a net exporter of jet fuel, naphtha, and fuel oil
• Doubled his fortune to $23.9B (at minimum)
His mission now?
Provide a blueprint for African industrialization.
"Africa has been a mere dumping ground for finished products. We have to build our own nation by ourselves. We have to build our own continent by ourselves."
Next up?
• Taking the refinery public
• Building a subsea gas pipeline
• Doubling fertilizer production
"I've been fighting battles all my life, and I haven't lost one yet." — Aliko Dangote
@PatternFin
👍1
Exciting Update!
AliExpress is set to start transactions in local currency beginning February 24, 2025! This significant milestone will greatly enhance trade and business operations in Ethiopia and other African countries, making it easier for local entrepreneurs to engage in international commerce.
This move not only simplifies transactions but also fosters a more inclusive trade environment. Let's embrace this new era of smoother trade!
@PatternFin
AliExpress is set to start transactions in local currency beginning February 24, 2025! This significant milestone will greatly enhance trade and business operations in Ethiopia and other African countries, making it easier for local entrepreneurs to engage in international commerce.
This move not only simplifies transactions but also fosters a more inclusive trade environment. Let's embrace this new era of smoother trade!
@PatternFin