After his rapid rise to prominence over three years which climaxed in the launch of DafriBank LTD, a digital-only bank, many people are not surprised to see the name of Xolane Ndhlovu on the list of black billionaires of South Africa.
It will be recalled that the DafriBank chairman was listed 40th with $300 million on the November 2021 Top 50 Crypto Rich list.
Speaking with Tribune Online about his rise in the business and digital banking sector, the 36-year-old R6 billion-rich entrepreneur, said he has had to work his way to the top through sheer hard work and perseverance.
He added that contrary to widely held opinion his success came overnight, Ndhlovu said his journey to becoming a billionaire started after he read Sir Richard Branson’s biography while in prison.
He also disclosed that his decision to invest in cryptocurrency earned him millions of dollars from his holdings in Binance (BNB).
In his words, “to break the yoke of poverty, one has to pursue self-redemption on two fronts: education and business.”
Putting his past behind him, he studied to earn himself a diploma in Media Management, a bachelor’s degree in Economics, and a Master’s in Business Administration from the Georgia Institute of Technology.
He urged the youth to be aggressive in their entrepreneurial drive, saying “My aggressive entrepreneurial drive led to the establishment of the UMEH Group, which, in few years, diversified into media, hospitality and real estate, among other interests.
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After merging UMEH Group with DafriGroup PLC, a public company with over 16 subsidiaries, Ndhlovu upped the ante with the rapid expansion of the conglomerate into four African countries and the UK.
He sustained the momentum in 2021 with his most ambitious project, namely the launch of DafriBank LTD, a digital-only bank that epitomises his vision of a digital economy.
DafriBank LTD, which pulled off the rare feat of the market capitalisation of $80 million, became a bank of choice for digital entrepreneurs because of its wide-ranging banking services covering the personal, corporate, lending, small and medium enterprises market segments.
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To succeed as an entrepreneur, you must have an aggressive drive for success ― Xolane Ndhlovu
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