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04.06.2014 General News

Asantehene is Africa's 5th richest King


  Asantehene is Africa's 5th richest King
JUN 4, 2014 GENERAL NEWS

Asantehene, Otumfuo Osei Tutu II, is Africa's fifth richest king according to Forbes.

The Asantehene who recently celebrated his 15th year on the Golden Stool is estimated to be worth $10 million.

His source of wealth, according to Forbes , is from mining equipment, property and jewellery.

It said the Asante King also owns extensive real estates in Ghana and South Africa as well as a collection of gold crown jewels.

Otumfuo Osei Tutu who ascended the throne in 1999 is the owner of Transpomech Ghana, a $12 million (sales) company that provides mining equipment to several large industrial companies in Ghana. 

Otumfuo Osei Tutu II came behind King Mswati III of Swaziland and he is estimated to be worth at least $50 million mainly from investments.

The 46-year old is said to control Tibiyo TakaNgwane, an investment holding company that owns stakes in sugar refining giants Ubombo Sugar and Royal Swaziland Sugar Corporation (RSSC), dairy company Parmalat Swaziland, spirits manufacturer Swaziland Beverages and hotel chain Swazi Spa Holdings. The company has assets worth over $140 million.

Third on the list is 84-year old Oba Okunade Sijuwade II of Ile-Ife, Nigeria and is estimated to be worth at least $75 million. 

His source of wealth, according to Forbes is from construction, property and oil.

Oba Okunade Sijuwade II is the founder of the Sijuwade Group, a Nigerian conglomerate with interests in oil & gas, construction, property development and hospitality, which he incorporated in 1975. 

Oba Obateru Akinrutan, the traditional King of Ugbo Land, Nigeria is the second richest African King, according to Forbes.

The founder of Obat Oil, is estimated to be worth $300 million.

Making the top of the list is King Mohammed VI of Morocco and he is estimated to be worth $2 billion.

According to Forbes, he derives his fortune from his control of Société Nationale d'Investissement (SNI), a large Moroccan investment holding company with assets valued at more than $10 billion. 

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