The question of who is Xolane Ndhlovu, South Africa’s newest black billionaire or how did he propel himself into the exclusive club of the country’s billionaires is perhaps the easiest question for his multitude of followers and fans.
While he controls DafriGroup PLC, one of the largest and fastest-expanding multinational companies on the continent, Xolane Ndhlovu, made his billions from investments in cryptocurrency.
This much was revealed by the Top 50 Crypto Rich List which listed Xolane Ndhlovu, founder of the DafriGroup PLC and Chairman of DafriBank Digital LTD, as one of the global 50 richest persons in cryptocurrency. Ranked 40th with a crypto net worth of $300 million, Ndhlovu derived much of his R6 billion wealth from his investment in Binance (BNB). He also earned considerable wealth from prudent investments in fintech and tech-focused startups including the likes of Bolt, Polkadot and most recently, his digital-only bank, DafriBank Digital LTD.
Although, DafriGroup PLC has grown into a vast business empire with about 20 subsidiaries including DafriTechnologies, UMEH, DafriBank Digital, DafriXchange Africa, and OMAHA Hotels, the octopus multinational accounts for only a fraction of Xolane Ndhlovu’s wealth.
Before the publication of the Crypto Rich list, the 36-year-old South African with a poor background had in the past two years stamped his presence in the digital economy sphere with his founding of DafriBank, a first-of-its-kind digital-only bank, with an innovative offering of shares in crypto value in an $80m market capitalisation drive.
As the new voice of entrepreneurship, DafriBank Digital LTD chairman Xolane Ndhlovu has been a vocal advocate of the digital economy and a strong supporter of the adoption of cryptocurrency. His ascension to the billionaire status via a crypto wealth is yet another strong indication that he practices what he preaches.
Indeed, many are inspired by the way Xolane Ndhlovu has put behind him his chequered past and struggle with poverty to become one of the most recognised business icons in Africa. The most astounding part of his personality has been how the DafriBank Digital LTD Chairman’s “philanthropy without borders” has brought relief to countless individuals, social categories and governments of several African countries.