By Kato Jamil
African millionaires are thriving in the commercial world. Their success is founded not only on their educational level, but also on their unwavering drive to succeed. Despite their lack of formal education, these millionaires have earned enormous riches.
Here are six African millionaires that excelled without a degree:
1. Johann Rupert – South Africa
Johann Rupert is a billionaire and the chairman of both Richemont, a luxury goods company, and Remgro, a South African company. He began studying Economics and Company Law before leaving college to seek entrepreneurial prospects. He gained business skills in New York before returning to South Africa and establishing Rand Merchant Bank and the Small Business Development Corporation in 1979. These ventures have created more than 600,000 jobs. Rupert is now considered as Africa’s second wealthiest person.
2. Justin Stanford – South Africa
At the age of 13, Justin Stanford started his business by selling apple juice to his classmates. He dropped out of high school because he found it dull and founded his first firm at the age of 18. Despite the fact that his first firm failed, he persevered and eventually became South Africa’s exclusive distributor of ESET antivirus software. His company now works in 20 Sub-Saharan nations and generates more than $10 million each year.
3. Cosmas Maduka – Nigeria
Cosmas Maduka, CEO of Coscharis Group, began working at the age of six, following the death of his father. He dropped out of primary school to help support his family by selling bean cakes. His uncle fired him when he was 17 years old, and he used his final money to start a spare parts firm. He later launched Coscharis Motors in 1977 with only 300 Naira. He secured one of Nigeria’s ten motor vehicle import licenses in 1982, which provided him with a significant advantage. His business is now a multimillion-dollar behemoth.
4. Anas Sefrioui – Morocco
5. Ashish J. Thakkar – Uganda
Ashish J. Thakkar launched Mara Group when he was 15 years old and had just left school. He began with a $5,000 loan to import and sell IT hardware. Mara Group is now a worldwide corporation with operations in IT services and real estate. Thakkar is also well-known for his efforts to promote young African businesses.
6. Said Salim Bakhresa – Tanzania
Said Bakhresa, the founder of Bakhresa Group, who began selling potato mash at 14 after dropping out of school. He eventually opened a restaurant and went into the grain milling business. He transformed his company into Tanzania’s largest conglomerate, including operations in food production, ferry services, and packaging. His enterprise has about 2,000 employees and is the largest milling plant in East Africa.
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