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Cabinet Shake Up Imminent As Pressure Mounts On Tinubu

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•Two-third of ministers underperforming – Opposition

Strong indications have emerged that President Bola Tinubu is planning to rejig his cabinet to ease out underperforming ministers.

Tinubu has been facing increasing pressure from within and outside his party, the All Progressives Congress, to sack ministers some of whom appeared to have been inactive.

The President had last year set up the Result and Delivery Unit, headed by the Special Adviser to the President on Policy Coordination, Mrs Hadiza Bala-Usman, to measure the performance of ministers and other top government officials serving in his administration. He warned that any minister or aide that underperformed would be sacked.

Last week, Tinubu replaced the directors-general of the National Intelligence Agency and the Department of State Services after the heads of the agencies resigned their appointments.

Sources in the Presidency revealed that a cabinet reshuffle was imminent.

The officials, who requested anonymity because they were not authorised to discuss the matter, revealed that some ministers would be dismissed, while others would be reassigned to other ministries for improved effectiveness.

However, the sources did not disclose the ministers likely to be affected.

“What I can tell you is some (ministers) will go. A few will swap positions, then new people will be brought on board. But the President will be focused more on capacity now; on people who can easily add value to his government”, a source stated.

Another source disclosed that Tinubu’s close associates agreed that the President required a stronger cabinet to implement his policies effectively.

The source stated, “The general concern among some of his aides, friends, and even the public is that the cabinet can be far better than this. There is a consensus among his (Tinubu) close friends that he needs a stronger cabinet to push through with his policies. It is one thing to announce policies and it is another thing for your ministers to deliver the outcomes you want. Oftentimes, it is the capacity of your cabinet members and heads of agencies that determines how you will deliver on those outcomes.

“If you look at the editorial by Financial Times earlier this week, it was not palatable at all. And what they were saying is that, yes, he has taken bold decisions, the reforms are good, but he has a weak cabinet that cannot help him to deliver on those reforms. That is why it appears like we are wobbling. So, he needs to bring in people with more energy and expertise, who are more patriotic and willing to roll up their sleeves and work for Nigeria and turn things around.

“If the past one year has not been eventful, he cannot afford to waste another year. This next one year is very critical. It is the next one year that will define the government.”

What You Need to Know About Canada’s Visitor-to-Work Permit Policy Termination

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Canada’s Immigration, Refugees and Citizenship Canada (IRCC) has recently ended a temporary public policy that allowed visitors to apply for a work permit from within the country. This move has significant implications for prospective migrants, including a considerable number of Nigerians who have viewed Canada as a promising destination for both work and education opportunities.

Background of the Policy

Introduced in August 2020, the policy was a response to the unique challenges posed by the COVID-19 pandemic. With international travel heavily restricted, many visitors in Canada found themselves unable to leave. The IRCC’s policy allowed these visitors to apply for a work permit without having to exit the country, providing a lifeline for those stranded due to the pandemic.

Furthermore, the policy extended benefits to foreign nationals who had previously held a work permit but had since changed their status to “visitor.” These individuals were allowed to work legally in Canada while awaiting a decision on their new work permit application, a measure that provided much-needed stability in uncertain times.

Why the Policy Was Ended

Although the temporary policy was initially set to expire on February 28, 2025, the IRCC announced its early termination as part of broader efforts to manage the number of temporary residents in Canada and to maintain the integrity of its immigration system. According to the Canadian government’s statement, the decision was influenced by concerns that some individuals were exploiting the policy, misleading foreign nationals into unauthorized work in Canada.

However, the IRCC has assured that applications submitted before August 28, 2024, under this policy, will still be processed, offering a brief window for those who acted before the deadline.

Implications for Prospective Migrants

The suspension of this policy will likely have a profound impact on potential migrants, including those from Nigeria, who may have been considering this pathway as a means to secure a stay in Canada. The decision comes at a time of growing tensions within Canada’s immigration landscape, as evidenced by the recent protests by tens of thousands of international students. These protests were sparked by new immigration policies that could lead to the deportation of up to 70,000 students, further complicating the situation for those seeking to establish a life in Canada.

The Broader Context

Canada has long been a preferred destination for Nigerians seeking better opportunities, particularly in light of the ongoing “Japa” wave, which refers to the mass exodus of Nigerians in search of greener pastures abroad. The suspension of the visitor-to-work permit policy marks a significant shift in Canada’s immigration approach and underscores the challenges that lie ahead for those looking to make the country their new home.

Conclusion

As Canada recalibrates its immigration policies, prospective migrants need to stay informed about the changing landscape. The end of the visitor-to-work permit policy is a reminder of the complexities and evolving nature of immigration law, and it highlights the importance of seeking accurate, up-to-date information when planning a move to another country.

Lagos State Pledges Development, Environmental Protection

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The Lagos State government has pledged to deepen efforts aimed at achieving the sustainable development goals and environmental protection for the present and future generations.

It also assured residents that the inaugural Lagos Sustainability Summit (LSS) will further drive sustainable development across all sectors and mitigate environmental challenges in the state.

Special Adviser to the Lagos State Governor on Sustainable Development Goals (SDGs) Dr Oreoluwa Finnih, who stated this in a chat with journalists in Lagos, Nigeria’s south-west, explained that through strategic planning, resource mobilisation, and rigorous monitoring, it plans to build a more equitable, inclusive and prosperous city for residents.

You can also read: Malaria Unmasked: The Environmental Connection And Prevention

Finnih said the government is encouraging investments in projects that support the SDGs and integrate Environmental Social Governance (ESG) criteria into financial decision-making and building resilient networks to ensure responsible waste management, local sourcing, and ethical labour practices.

According to her, the summit to be hosted by hosted by the State Office of Sustainable Development Goals in partnership with the State’s Environmental Protection Agency (LASEPA) and Safety Commission will also chart a course for Lagos to emerge as a model for sustainable urban development, characterised by harmonious parlance between social equity, economic prosperity and environmental stewardship.

Finnih argued that as the world is undergoing profound changes through climate change, technological advancements, and shifts in global dynamics redefining what it means to be a thriving society; the government is focused on the mission of ensuring that the path to the 2030 goal leaves no one behind.

She said the event, themed, “Building a Resilient and Sustainable Lagos,” would serve as a call to action and roadmap to forge a city that is prosperous, equitable, and environmentally sound.

The General Manager, LASEPA, Dr Babajide Ajayi, said the agency activities of industries commercial services, public and private sectors, and communities, ensure that firms, facilities and businesses run their business

He said the agency is committed to emission reduction, limiting pollution, and discharge into water.

He disclosed that the state is collaborating with the Ogun State government to halt the current open defecation on the stretch of Lagos Ibadan Expressway Road median, adding that the authorities have initiated enforcement, and lighting up the axis to stop the habit.

The Director General of the state’s safety commission, Dr Lanre Omojola, harped on occupational safety, health and creating a safe workplace, adding that the commission is committed to its mandates in compliance with the related sustainable development goals.

“We have a robust arm from school, oil and gas, the market to the construction sector on how to work safely. Every establishment must imbibe the culture of safety. Every worker must be able to perform their duty without fear of disease, harassment, and death,” he said.

On his part, the Senior Special Adviser to the governor on Budget Planning, Dr Lekan Balogun, highlighted the crucial role of partnership in deepening a sustainable environment in the state.

Ajaokuta Steel: Group Demands Thorough Probe Of Employment, Salary Structure

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The youth wing of apex Igbo socio-cultural organisation, Ohanaeze Ndigbo Youth Council Worldwide, has demanded a thorough probe of employment process and salary structure at the Ajaokuta Steel Company.

The umbrella body of Igbo youth organisations said this in a statement made available to journalists on Friday, signed by its national president, Mazi Okwu Nnabuike.

This is coming amid concerns over the state of the federal government-owned facility.

Okwu alleged that an enquiry carried out showed that there were questions within the company’s staff recruitment process.

Ohanaeze youths said, “in our continuous drive to expose the economic sabotage and high level corruption in the Ajaokuta Steel Company, we beamed a searchlight on the company’s employment process.

“To our greatest chagrin, findings showed that staff members are not paid the same amount as outlined in their appointment letters.

“One of such irregularities is the case of one of the staff members who was recruited as “Graduate Manpower”, and placed under N100,000 (One hundred thousand Naira) monthly salary. However, shockingly, the staff member receives N18,000 (Eighteen thousand Naira) as monthly salary, leaving a deficit of N82,000 (Eighty two thousand Naira).

Also read: Ajaokuta Free Trade Zone to Attract Foreign Investments

“Another heartbreaking case is that of another staff member, who was also recruited as ‘Graduate Manpower’, with the proviso that he had been placed on GL 8/4 basis salary. The staff had also been receiving N18,000 as monthly salary.

“This is just a tip of the anomalies going on at the Ajaokuta Steel Company, and to worsen matters, instead of engaging staff directly, the appointment states that “we are pleased to inform you that you have been engaged as Graduate Manpower under a company.

“Why should a third party be involved in the employment and salary payment of staff working in Ajaokuta Steel Company?

“We ask again- who are those taking undue advantage of hapless Nigerians? Who are those perpetuating this fraud against humanity?

“This must not be allowed to continue. We urge the Economic and Financial Crimes Commission, EFCC, and the ICPC to immediately initiate a probe of the recruitment process and salary payment in the Ajaokuta Steel Company.

“The anti-graft commission should do well to demand appointment letters of staff members and juxtapose it with their monthly earnings as would be shown in their respective statements of accounts.”

The youth leader said the group remained committed to the realization of President Bola Tinubu’s Renewed Hope Agenda “and would not stand by and watch anyone jeopardise the interest of the youth population.

“The youths are most affected whenever it comes to issues of employment and this is why we won’t rest until all those behind these acts are brought to book.”

The group also demanded “absolute disclosure of the partnership agreement of the company with a consortium.

“Nigerians are fed up with shaddy agreements like that of Mambilla Hydropower, which was trapped by mischievous consortium partners. Nigerians deserve to know what is being signed.

“The agreement on Ajaokuta Steel Company should be between the Federal Government and the consortium. No more middlemen in the process of the agreement.”

Red Sea Attack: Greek-Flagged Oil Tanker Poses Environmental Hazard

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A Greek-flagged oil tanker carrying 150,000 tons of crude oil is posing an “environmental hazard” after it came under attack from projectiles and arms fire in the Red Sea.

The 25-person crew of the Sounion oil tanker was rescued after the attack by a vessel from Eunavfor Aspides, a European Union defensive maritime security operation aimed at protecting merchant and commercial vessels in the Red Sea, the Indian Ocean and the Gulf.

You can also read: Titan Submersible: Investigators Examine Vessel’s Catastrophic Implosion

The vessel, damaged and without engine power, is now anchored between Yemen and Eritrea, a maritime security source said.

Delta Tankers said it is working on a plan to move the tanker to a safer destination for further checks and repairs.

Eunavfor Aspides said all those on board the boat were transported to Djibouti, in east Africa, which was the nearest safe port of call.

Attacks on container vessels in the Red Sea have been wreaking havoc on one of the world’s most important trade routes for months.

Iran-backed Houthi militants stepped up their attacks on ships in late November last year, in retaliation for Israel’s war against Hamas.

The damage to the vessel poses a “navigational risk and a serious and imminent threat of regional pollution,” according to Eunavfor Aspides, a European Union defensive maritime security operation aimed at protecting merchant and commercial vessels in the Red Sea, the Indian Ocean and the Gulf.

“There’s no oil spill, and the ship is still anchored and not drifting,” Eunavfor Aspides said in a post on X on Wednesday, adding that fires have been detected in several locations on the main deck.

The fires currently burning on the deck of the Sounion are unlikely to spread, according to another captain involved in maritime oil shipping who likened the situation to a gas stove: The fires on the ship are like the burners on the stove and are being fed by vapors in its cargo tanks. Because the gas inside the tanks is inert, and lacks oxygen, the fire isn’t likely to spread further, according to the source.

The easiest way to stop the fires on the deck is with a combination of foam and smothering, the captain said, adding that once the fires are put out, it becomes a routine oil salvage recovery.

The damage to the vessel poses a “navigational risk and a serious and imminent threat of regional pollution,” according to Eunavfor Aspides, a European Union defensive maritime security operation aimed at protecting merchant and commercial vessels in the Red Sea, the Indian Ocean and the Gulf.

“There’s no oil spill, and the ship is still anchored and not drifting,” Eunavfor Aspides said in a post on X on Wednesday, adding that fires have been detected in several locations on the main deck.

The fires currently burning on the deck of the Sounion are unlikely to spread, according to another captain involved in maritime oil shipping who likened the situation to a gas stove: The fires on the ship are like the burners on the stove and are being fed by vapors in its cargo tanks. Because the gas inside the tanks is inert, and lacks oxygen, the fire isn’t likely to spread further, according to the source.

The easiest way to stop the fires on the deck is with a combination of foam and smothering, the captain said, adding that once the fires are put out, it becomes a routine oil salvage recovery.

Colombia Sees Deforestation Fall To Lowest Level In 23 Years

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Deforestation in Colombia has fallen by 36% in 2023 – its lowest level in 23 years, with most gains being made in the Amazon rainforest and this is according to government figures.

In total, deforestation fell from 1,235sq km in 2022 to 792sq km last year.

It is the second successive sharp decrease in deforestation, and it means tree loss fell by 54% between 2021 and 2023, well above the national target of 20%.

This comes after Colombian president Gustavo Petro launched an ambitious strategy in 2022 to fight deforestation by working with indigenous groups to improve economic conditions in 22 deforestation hotspots.

You can also read: Exploring Amazon Theatre, In The Heart Of Amazon Forest, Brazil

The government also increased surveillance to stop logging and limited agribusiness expansion into the forest, as well as creating reserves where indigenous communities could harvest rubber, acai and other non-timber forest products.

Key to this is paying farmers to protect the land and speaking to armed groups who are the de facto authority in deforestation hotspots. 

You might be interested: https://education.nationalgeographic.org/resource/deforestation/

To keep up the momentum, the government has also called on rich nations to cancel foreign debt in order to help the country in its fight against deforestation. 

Colombia, the world’s second most biodiverse nation, after neighbouring Brazil, is due to host the Cop16 biodiversity conference in Cali.

Deforestation is the purposeful clearing of forested land. Throughout history and into modern times, forests have been razed to make space for agriculture and animal grazing, and to obtain wood for fuel, manufacturing, and construction.

Deforestation has greatly altered landscapes around the world. About 2,000 years ago, 80 percent of Western Europe was forested; today the figure is 34 percent.

In North America, about half of the forests in the eastern part of the continent were cut down from the 1600s to the 1870s for timber and agriculture.

China has lost great expanses of its forests over the past 4,000 years and now just over 20 percent of it is forested. Much of Earth’s farmland was once forests.

Some skill-sets will not be relevant in five to 10 years – Hiring expert

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A considerable skills gap exists in Nigeria. It is mainly driven by outdated educational curricula, lack of training and the emigration of skilled workers.

Skill gaps worsen employment challenges and create social imbalance. To remain competitive, job seekers in Nigeria need to enhance their market visibility, continuously upskill, and familiarize themselves with modern hiring practices in the face of the labour market facing macro-environmental challenges.

For sustained employability and business success, continuous learning and development are therefore crucial for both individuals and organizations.

In this interview, Mr Shehu Zubairu, Senior Learning and Development Manager, speaks on the changing dynamics in the labour market.

Zubairu is a licensed facilitator and instructional designer who has developed various training programmes for different individuals, positioning them in Tier 1 banks and the top 5 organisations across many sectors.

He shares insights on the changing world of work and advises job seekers to upskill and develop themselves for fulfilling career paths characterized by continuous learning.

The Nigerian labour market is characterized by a high rate of unemployment and underemployment. What do you think contributed to this?

The Nigerian labor market is marked by high levels of unemployment and underemployment. This situation is exacerbated by numerous macroeconomic challenges affecting the various industries within this ecosystem.

Business operations in Nigeria face unique difficulties, including issues of insecurity, unreliable power supply, high inflation, fluctuating foreign exchange rates, and various political and sociocultural challenges. These are significant macroeconomic factors that compel businesses to make crucial decisions to remain viable. One such decision is to downsize or right size in order to manage costs effectively, particularly payroll expenses, which are substantial during these challenging times.

Additionally, there is a prevalence of unskilled labor in the market. Many workers are not as proficient as required, leading businesses to invest in training. Despite the availability of job vacancies across numerous organizations, finding individuals with the appropriate skill sets has become increasingly difficult.

This issue is intensified by the “Japa” syndrome, where skilled workers emigrate in search of better opportunities, leaving behind a workforce that is often under qualified for available positions.

This creates a significant skills gap, knowledge gap, and competency gap within the country. Moreover, organizations that lack a culture of employee development often opt to operate without expanding their workforce. These factors collectively contribute to the ongoing issues of unemployment and underemployment in Nigeria.

The labor market in Nigeria is divided into white-collar and blue-collar jobs, with blue-collar positions often offering more opportunities. This trend is driven by factors such as cost-effectiveness and impact, particularly in manufacturing, which employs a significant number outside of government roles.

However, there is a disconnect between educational curricula and market demands, leaving many graduates unprepared for the workforce. Consequently, organizations spend substantial amounts on training to bridge this gap, but only a few, financially robust companies can afford these costs.

Additionally, the lack of a learning culture within many organizations leads to a depreciation in worker value over time due to outdated skills and limited experience enhancements. This situation results in employees being used temporarily and replaced once their immediate utility wanes.

Moreover, there is a general deficiency in both the depth and breadth of skills among workers, which limits their ability to perform diverse and strategic roles effectively. To save costs, job descriptions are increasingly broadened, requiring employees to handle the workload of multiple positions, yet such versatile individuals are rare.

The effectiveness of labor laws also varies, with some industries maintaining high ethical standards while others exploit workers. Issues like lack of succession planning, career development, and inadequate performance management contribute to workers remaining in temporary roles with stagnant compensation despite expanding job responsibilities.

In all, the Nigerian labor market faces challenges in skill development, employment ethics, and legal enforcement, which affects both the employability of graduates and the operational strategies of organizations.

There is so much emphasis on having the right skills to position one for the right jobs. What are some of the major skills that young graduates lack, especially for corporate organizations?

The skill sets required for various roles are rapidly evolving due to a dynamic business environment and changing customer behaviors influenced by technology advancements. The days when a specific skill set could remain relevant for 5 to 10 years are gone. In response, businesses now require agility to navigate frequent market disruptions and intense competition, spurred by customers having numerous options.

However, many employees have struggled to keep up with these changes, especially in adapting their competencies to match new business models and strategies. There is a pressing need for ongoing development in digital skills across all fields, including law, engineering, and accounting, as these skills are essential for modern job functions.

Moreover, there is a growing demand for soft skills such as teamwork, collaboration, emotional intelligence, interpersonal communication, business writing, and business acumen. These skills are vital for effective leadership and can be honed through both formal and informal learning methods.

Additionally, a deficiency in problem-solving, creativity, and innovation skills significantly impedes businesses’ ability to address challenges and remain competitive.

Irrespective of your role in a particular organization, you must acquire digital skills, which are fundamental to any job, whether you are a lawyer, engineer, or accountant. These skills are critical because they are tools that businesses need.

Data analytics is also a good skill for young graduates. In general, employees must proactively enhance and expand their skill sets to stay relevant and contribute effectively in an ever-changing business landscape.

Many job seekers fail to secure positions due to outdated skills and lack of visibility in the market. They often do not keep up with the latest trends or skills required by businesses, nor are they active on essential platforms like LinkedIn, where crafting a visible and searchable profile is crucial. Job seekers frequently use obsolete language that fails to reflect current competencies, making them less likely to appear in search results and fit the specific demands of job roles.

Another significant issue is self-devaluation and a lack of confidence, often stemming from being underpaid in previous roles. This lack of confidence can adversely affect their performance in interviews and their overall job search strategy.

Additionally, many are unaware of modern selection processes, such as aptitude tests and competency-based interviews, which differ significantly from traditional methods. Some job seekers are unfamiliar with assessment centers, which use various tools to evaluate candidates thoroughly.

Moreover, in the era of artificial intelligence (AI) and automated screening, using the correct keywords and phrases becomes crucial to pass initial screenings and interviews. Competency-based interviews require specific answers tailored to real-life scenarios, and rehearsing generic responses can lead to failure.

In summary, job seekers must update their skills, enhance their market visibility, and familiarize themselves with current hiring processes, including AI-driven and scenario-based interviews, to improve their chances of employment success.

We learnt there’s a difference between curriculum vitae (CV) and resume. Can you shed more light on this?

A CV is a comprehensive career biography detailing all of one’s experiences, skills, and educational background. It’s a working document that should be continually updated. In contrast, a resume is a concise, targeted document designed for a specific job role.

It should selectively extract relevant information from your CV to demonstrate the skill set and experience required for the job at hand, making it easy for employers to see your qualifications for the position.

Regarding information relevance, a resume should focus only on skills and experiences pertinent to the job you’re applying for, unlike a CV, which is more comprehensive. Therefore, you should submit a resume tailored to each job application, not a generic CV.

From experience, which sector has been toughest for prospective employees to receive employment?

The toughness of recruitment processes varies by sector and is heavily influenced by an organization’s goals, mission, and vision.

Companies at the top of their industry, particularly those with significant revenue and strong market positioning, often have the most rigorous selection processes.

These organizations aim to attract the best candidates using global standards and competitive selection methods, driven by their high employee value propositions and branding. As such, understanding and preparing for each organization’s unique selection process is crucial for applicants.

Some organizations don’t pay attention to learning and development to foster career growth. How can business and HR leaders in Nigeria change this narrative?

Many businesses overlook the importance of learning and development (L&D), focusing instead on relationships and loyalty over competence and skills. Such organizations may post substantial profits but lack structured systems for performance management and skills development.

L&D is crucial for up-skilling employees and enhancing competencies that drive performance. Without a proper competency framework, organizations struggle to prioritize learning effectively.

The fast-changing global landscape, characterized by volatile, uncertain, complex, and ambiguous (VUCA) conditions necessitates a shift in this approach.

Even government agencies are now developing competency frameworks. Businesses need to adopt sustainable methods to ensure longevity, regardless of individual employee presence. Global organizations, which often incorporate structures from overseas show that proper performance management and learning and development (L&D) structures are essential for survival.

A significant challenge is demonstrating the return on investment (ROI) of L&D. Many managers fail to communicate the indirect benefits of L&D to the business, even though these benefits are substantial. Leadership’s attitude towards L&D must align with the value it brings. Concerns that trained employees might leave should be balanced against the risks of retaining underdeveloped, underperforming staff.

For businesses to remain competitive and attract the current generation of workers, it is crucial to invest in L&D as a key engagement tool. This not only enhances the organization’s brand and value proposition but also fosters a strong organizational culture.

Who is Johann Rupert? Africa’s Richest Man 2024

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Johann Rupert, a South African billionaire and influential business magnate, has risen to prominence as Africa’s richest man in 2024, according to the latest Bloomberg Billionaires Index. With a net worth of $14.2 billion, Rupert has overtaken Aliko Dangote, the Nigerian industrialist who held the top spot for several years. Rupert’s fortune is rooted in his control over Cie Financiere Richemont, the world’s largest luxury watchmaker, and a diversified portfolio of investments that span across multiple industries.

Early Life and Career Beginnings

Born on June 1, 1950, in Stellenbosch, South Africa, Johann Rupert is the eldest son of the late business tycoon Anton Rupert, the founder of Rembrandt Group. Johann Rupert attended the University of Stellenbosch but left before completing his degree to pursue a business career. He started his professional journey in the United States, working at Chase Manhattan Bank and Lazard Frères, where he gained valuable experience in the financial industry.

Building an Empire: Richemont and Beyond

In 1988, Johann Rupert founded Cie Financiere Richemont in Switzerland as a spin-off of Rembrandt Group’s international assets. Richemont quickly became a global leader in the luxury goods market, housing prestigious brands such as Cartier, Jaeger-LeCoultre, and Montblanc. The company’s focus on high-end products, particularly luxury watches, has made it a dominant player in the industry, contributing significantly to Rupert’s wealth.

In addition to Richemont, Rupert also holds a controlling interest in Remgro, an investment vehicle based in Stellenbosch, South Africa. Remgro has stakes in more than 30 companies, ranging from banking and healthcare to consumer goods and energy. This diverse investment strategy has helped solidify Rupert’s financial position and expand his influence in both the South African and global markets.

Africa’s Richest Man in 2024

Johann Rupert’s ascension to the title of Africa’s richest man in 2024 marks a significant milestone in his career. According to the Bloomberg Billionaires Index, Rupert’s net worth increased by $1.87 billion year-to-date, propelling him ahead of Aliko Dangote, whose wealth saw a decline of $1.7 billion during the same period. Rupert’s financial success can be attributed to the strong performance of Richemont, as well as his strategic investments through Remgro. With a net worth of $14.2 billion, he is currently ranked, Africa’s richest man and holds the 147th position in the global ranking.

Personal Life and Philanthropy

Despite his immense wealth, Johann Rupert is known for leading a relatively private life. He is married to Gaynor Rupert, and they have three children. Rupert is also deeply involved in philanthropic activities, particularly in the fields of education and conservation. He has donated significant sums to various causes in South Africa, including the preservation of wildlife and the support of higher education institutions.

Legacy and Influence

Johann Rupert’s influence extends far beyond his business ventures. As Africa’s richest man, he is a prominent figure in global finance and luxury goods. His strategic vision and ability to navigate complex markets have earned him respect both in South Africa and internationally. Rupert’s legacy is one of innovation, resilience, and a commitment to excellence, making him a pivotal figure in the world of business.

In 2024, Johann Rupert’s success story continues to inspire entrepreneurs and business leaders across the continent and beyond. His rise to the top of Africa’s wealth rankings is a testament to his business acumen and the enduring value of his investments in the luxury goods industry.

Johann Rupert Overtakes Dangote as Africa’s Richest Man in 2024

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South Africa’s billionaire, Johann Rupert, has officially overtaken Aliko Dangote, the President of the Dangote Group, to become the richest man in Africa. Rupert’s rise to the top was highlighted in the latest Bloomberg Billionaires Index. Dangote, who held the title for several years, experienced a $1.7 billion decline in his wealth year-to-date. In contrast, Rupert saw his wealth increase by $1.87 billion during the same period.

The Bloomberg Billionaires Index, a daily ranking of the world’s wealthiest individuals, now positions the 74-year-old Johann Rupert as the richest person in Africa. Rupert controls Cie Financiere Richemont, the world’s largest luxury watchmaker, through a family trust. The Bellevue, Switzerland-based company is known for its prestigious brands, including Jaeger-LeCoultre and Cartier.

Beyond Richemont, Rupert’s other significant holdings include Remgro, an investment vehicle based in Stellenbosch, South Africa, with stakes in over 30 companies.

On the other hand, Aliko Dangote’s fortune is primarily tied to his 86% stake in Dangote Cement, a publicly traded company. He holds these shares directly and through his conglomerate, Dangote Industries. Dangote’s diverse investments span across sectors such as food manufacturing, fertilizer, oil, and other industries. Notably, he owns the Dangote Refinery, a 650,000 barrels per day integrated refinery located in Lagos State.

In the latest rankings, other African billionaires in the top five include South Africa’s Nicky Oppenheimer in third place with a net worth of $11.3 billion, Egypt’s Nassef Sawiris with $9.37 billion, and South Africa’s Natie Kirsh with $9.14 billion.

Globally, the top 10 richest individuals, according to the Bloomberg Billionaires Index, include:

1. Elon Musk (United States) — $236 billion

2. Bernard Arnault (France) — $198 billion

3. Jeff Bezos (United States) — $197 billion

4. Mark Zuckerberg (United States) — $185 billion

5. Bill Gates (United States) — $160 billion

6. Larry Ellison (United States) — $153 billion

7. Larry Page (United States) — $149 billion

8. Warren Buffett (United States) — $145 billion

Johann Rupert’s ascent as Africa’s richest man marks a significant shift in the continent’s wealth landscape, with his diversified investments and luxury brand portfolio driving his financial success.

Dramatic Transfer Deadline Move For Victor Osimhen Predicted

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Super Eagles striker Victor Osimhen has turned down €70m move to Saudi Arabian club Al Ahli, with his agent Roberto Calenda insisting the Napoli star still has unfinished business in European football

This development comes amid heightened transfer speculation surrounding the Napoli star, who has drawn interest from several top clubs across Europe and the Middle East.

Osimhen has a litany of clubs in the Saudi Pro League willing to break the bank to sign him, but the Nigeria international has so far overlooked such overtures, looking to continue his football in Europe, preferably the English Premier League.

Italian transfer expert Fabrizio Romano confirmed that the 25-year-old and his agent outrightly rejected the Saudi move on Monday due to issues bothering on salary and release clause.

As the transfer window nears its close, the future of Nigerian striker Victor Osimhen remains one of the most compelling unresolved stories.

The Napoli forward, who was widely expected to leave Serie A this summer, continues to be at the center of intense speculation, with top European clubs such as Arsenal, Chelsea and PSG all vying for his signature.

Despite interest from Saudi Arabian clubs, Osimhen has shown little desire to move to the Middle East at this point in his career, further fueling rumors of a potential move to one of Europe’s elite teams.

Respected soccer pundits have predicted that Osimhen’s situation could lead to a dramatic transfer on deadline day.

“This is one we understand is going to go down to transfer deadline day, and it will be one of those dramatic stories about where Victor Osimhen ends up,” Ornstein noted. He highlighted Chelsea’s continued interest in the striker, while also mentioning PSG’s previous strong pursuit of the Nigerian, making them another serious contender.

Osimhen’s potential move is being compared to other high-profile transfers that have defined previous deadline days, such as Gareth Bale’s transfer to Real Madrid and Enzo Fernandez’s move to Chelsea.

With the transfer window set to close at 11:00 PM on Friday, the football world is eagerly watching to see where this Nigerian striker will land, potentially marking the most significant transfer of the summer.

Arsenal, long linked with Osimhen, could also emerge as serious contenders in the final hours, adding to the suspense surrounding his future.

Victor was elected African Footballer of the Year, finished eighth at the Ballon d’Or, and he still has so much to do in Europe. There is a need for respect and balance.

Reports indicate that Osimhen was insistent on having a release clause included in any new contract, allowing him a potential return to Europe and Champions League football in the future.

Meanwhile, Chelsea remain interested in the Nigeria striker but have been hesitant to meet Napoli’s steep valuation.

According to sources, the Blues have yet to make an official offer, with Osimhen’s significant wage demands proving to be another stumbling block. The forward reportedly seeks a £500,000-a-week salary to join the Premier League side, a figure Chelsea may find difficult to accommodate.

Paris Saint-Germain, also in need of a top striker following Gonçalo Ramos’s injury, had previously reached a preliminary agreement with Osimhen earlier this summer but have not made any concrete moves since then.

Despite the various offers on the table, it is clear that the Nigerian remains determined to pursue his European ambitions. For now, Osimhen’s focus is firmly on making an impact in Europe, where he believes his best years are yet to come.