Wednesday, November 13, 2013

South Africa Tops Africa's 50 Richest, Johann Rupert Is Country's Richest Man

South Africa leads the African continent in names appearing on Forbes list of Africa’s 50 Richest. With 14 individuals on the list, the country trumps both Nigeria (11 fortunes) and Egypt (9 fortunes). South Africa’s 14 richest have a combined net worth of $28.79 billion, and an average net worth of $2.06 billion.

Johann Rupert, whose fortune – comprised largely in shares of luxury goods maker Richemont — grew 39% to $7.9 billion, allowing him to leapfrog Oppenheimer to become South Africa’s richest man. South Africa’s largest fortunes have seen slow growth in the past year, weighed down by meager gains in the resources and mining sectors. Nicky Oppenheimer ($6.6 billion), who recently sold diamond mining firm De Beers to mining giant Anglo American for $5.1 billion; African Rainbow Minerals chairman Patrice Motsepe ($2.7 billion) and Assore chairman Desmond Sacco ($1.4 billion) barely saw their fortunes move compared to a year ago.

The real standout success story in South Africa this year is Stephen Saad and his drug company Aspen Pharmacare. His fortune is up more than 50% from a year ago to $1.5 billion. The stock surge also introduced a newcomer to the richest Africans list: Saad’s deputy and Aspen’s cofounder, Gus Attridge. He debuts on the list with a fortune of $525 million.

 Troubling trends continue. Only two of South Africa’s 14 richest are black – and most of the remaining fortunes have roots in Apartheid-era South Africa (still better, it should be noted, than America’s 1-in-400 figure; Oprah Winfrey is the US’s only black billionaire). None of the country’s richest are women.
But there’s reason for hope. In December 2012, investor-entrepreneur Cyril Ramaphosa ($700 million) was elected Deputy President of the country’s ruling African National Congress party.


Saturday, November 2, 2013

Samsung gives Apple a run in Tablet category

Samsung tablets have edged out iPads for the first time in JD Power's biannual customer-satisfaction survey; although some observers say the results don't quite add up. Samsung topped JD Power's rankings with a score of 835 out of 1,000, narrowly beating out Apple's 833. Amazon was third in customer satisfaction at 826, followed by Asus and Acer.

The rankings are based on the experiences of 3,375 tablet owners who responded between March and August of this year, and don't include the new iPad Air and iPad Mini, which went on sale Friday. But some tech pundits questioned the market-research company's scoring system. Survey respondents scored Apple's iPad higher than Samsung's tablets in four of five categories: performance, ease of operation, styling/design, and features -- while Samsung scored higher in just one: cost.

A Samsung Galaxy Tab 3 with an almost 8-inch screen, Wi-Fi-only connectivity and 16GB of storage sells for $299, compared to $399 for a comparable iPad Mini. The survey found that before buying their tablet, 50% of consumers rely on recommendations from friends, family members or colleagues, while 49% gather information from the manufacturer's website. Other factors that determine tablet-buying choices include brand reputation (42%) and past experience with the brand (32%).

Source: CNN