South Africa has a new black billionaire - Who is Xolane Ndhlovu?

Billionaire XolaneNdhlovu is a beacon of light in the world of entrepreneurship. Having started life with no generational wealth, Ndhlovu has taken the business world by storm with DafriBank.👇 DafriBank

Ndhlovu's foray into tech has propelled his personal fortune to R6 billion as of 2021 stemming from his holdings in Binance and bets in tech focused startups which include DafriBank, Bolt and Polkadot. The newly minted billionaire was the only African in the list of The 50 Richest People in Crypto 2021. His newest bet, DafriBank, is a financial technology company founded on the notion that a bank should be less-authoritarian and more socialising.

The businessman, founded UMEH Group a household brand in the media and hotel sectors, played a crucial role in the merging of UMEH with DafriGroup PLC in 2020, in a transaction worth more than R1 billion , according to sources close to the deal. The firm invested in media and tech startups and had R500 million under management before the merger.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

brieflyza /  🏆 10. in ZA

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'South Africa is ready and open for business': Ramaphosa addresses South Africa Day at Expo2020President Cyril Ramaphosa delivered the keynote address at the South Africa Day celebrations at the Expo 2020 in Dubai.
Read more »

India denied by South Africa in last-ball World Cup thrillerThe Proteas women produced their highest successful ODI chase to secure victory.
Read more »

Ramaphosa arrives in UAE to lead South Africa Day celebrations at Dubai ExpoPresident Cyril Ramaphosa has touched down in the United Arab Emirates (UAE) where he will lead the celebration of South Africa Day at the Dubai Expo 2020 on Monday.
Read more »

Working out your bond calculations in South Africa: how much you pay right nowWith interest rates likely to rise over the next few years, homeowners who haven’t looked over their bond commitments should do so, advise property experts Paul Stevens and Carl Coetzee.
Read more »

South Africa records 1,497 positive COVID-19 cases in the last 24 hours
Read more »