Are billionaires good for Africa? | The Conversation | Focus on Africa

Twenty-five years ago, Africa had no dollar billionaires. Today, there are 23, with a combined net worth of more than $100 billion. According to Oxfam, the continent’s four richest individuals now own more wealth than half of Africa’s population combined. As billionaire wealth continues to grow alongside rising inequality, an important question emerges: are billionaires good for Africa? In this episode of the Focus on Africa Podcast, host Charles Gitonga sits down with Tanzanian businessman and philanthropist Mohammed Dewji - Africa’s youngest billionaire - to discuss how he built his fortune, the role of wealth creation on the continent, and whether Africa’s billionaires have a responsibility to help close the widening inequality gap. 00:00 Coming up 00:40 How much is Mohammed Dewji worth? 02:10 Quick-fire questions 04:00 What does it feel like to be a billionaire? 05:10 The challenges of becoming wealthy 07:20 The origins of Mohammed Dewji's family business 08:25 Expanding the business into manufacturing 09:30 Did Mohammed Dewji think he would become a billionaire? 10:49 Celebrating billionaire status 13:00 Hearing from Oxfam on inequality in Africa 15:50 Mohammed Dewji on creating employment and philanthrophy 18:30 Taxes for the super-rich 19:30 Do we need to change the system to tackle inequality? 22:35 Philanthropy and giving back Presenter: Charles Gitonga Producers: Fana Negash and Basma El Atti Senior Producer: Carolyne Kiambo Editors: Priya Sippy and Maryam Abdalla Subscribe: http://bit.ly/subscribetoafrica Website: https://www.bbc.com/africa Facebook:   / bbcnewsafrica   Twitter:   / bbcafrica   Instagram:   / bbcafrica