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South African Billionaire and CEO of DafriBank, Xolane Ndhlovu Donates $1 Million To Africans In Ukraine

13 days since Russian President Vladimir Putin ordered a military assault on the people of Ukraine, several humanitarian organizations, businesses and public figures have come out in support of the government of Ukraine with crypto donations passing the $50 million mark.

In a multi-pronged assault launched from Russian, Belarusian, and disputed Crimean and Donbas territories, Russian forces approached or besieged a number of key settlements such as Kherson, Mariupol, Sumy, Chernihiv, Kharkiv, and the capital Kyiv, but met stiff military and local resistance and began to experience logistical and other challenges that hampered their progress.

Joining the solidarity is the billionaire entrepreneur and chairman of DafriBank Xolane Ndhlovu who donated $1 million to Africans in Ukraine.  “We woke up on the morning of 24 February 2022 to a full-scale invasion of Ukraine by Russian troops in an escalation of the Russo-Ukrainian War that began in 2014. I was alarmed by the far-reaching impact on innocent people in the region and like many of us watching from afar, I feel driven to do what I can to help to start with fellow Africans who have lost their livelihood as a result of the conflict. Through DafriBank, I’m donating the sum of $1 million dollars to Africans Living in Ukraine/ Russia both returnees and those still in the conflict zone” said Ndhlovu in a statement.

Xolane Ndhlovu

Xolane Ndhlovu is a notable South African philanthropist, a serial entrepreneur, and a billionaire who began his career as a music DJ and later founded UMEH which he turned into a $100 million company before its merger with DafriGroup in 2020.  Ndhlovu was one of the early investors in Binance (BNB) in 2017, with an investment that is now estimated to be worth R3.2 billion (about $210m) making him one of the most successful crypto blockchain investors in Africa and the only African in the top 50 crypto rich list. 

The alchemy success story of Ndhlovu is quite an inspirational one, having reformed from a background riddled with crime into building a 6 billion firm currently being chaired by him. He made his first million dollars in prison investing in startup tech companies through IPOs. Ndhlovu is currently at the helm of DafriGroup PLC, a public company with a portfolio of interest across 18+ subsidiaries which include the publicly quoted DafriBank where he serves as Chairman of the board. “Our commitment is not only to provide you with great banking experience but to also be there for you in times of distress” 

In a separate statement issued by DafriBank, it said: “We are grateful to our chairman for his gesture toward Africans who are directly affected by the ongoing conflict” continue  “Yesterday Mr. Xolane Ndhlovu, the chairman of DafriGroup PLC announced $1 million relief funds through DafriBank for Africans affected by Ukraine- Russian conflict and we are here to ensure that the funds reach the people it intended for” read the statement.  

DafriBank is gearing up for an $80m seed round at a valuation of $1bn through a group of private investors with a minimum of $1m contributions.

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