19 Successful Forex Traders in Africa

There are several types of Forex traders, from professionally employed traders for financial firms to beginner traders hoping to turn a trading hobby into a lucrative income stream.

Of all these types of traders, there are some who have found remarkable success in the trading arena and have been able to master their trading techniques to generate outstanding profits repeatedly.

In this article, we explore 19 of these successful traders who hail from the continent of Africa and look at their inspiring trading successes.

Jabulani Ngcobo

Jabulani Ngcobo was raised in the South African coastal city of Durban, and by his, mid-thirties has amassed a wealth of an estimated US$35 million, the majority of which has resulted from his success as a Forex trader.

In 2009, this inspirational trader launched his Cashflow Pro brand, later renamed Smart FX Pro, with the goal of empowering individuals to become traders with educational training courses.

Ngcobo has a strong social media presence, with his Instagram account detailing his luxury lifestyle, as well as promoting his various Forex-related activities, including lectures on exchanges and motivational speaking sessions.

Ref Wayne

Ref Wayne is another popular South African Forex trader who has been particularly inspirational to beginner traders for his extravagant lifestyle earned because of his successful Forex trading career.

Wayne has used his interest in philosophy, business, and psychology to pen a popular book entitled ‘The Art of Trading Armageddon’, and has become something of a guru in the trading industry.

Wayne began trading at the early age of 16, and by the age of 19 had made his first million – an impressive record of accomplishment which many beginners are keen to emulate.

Sandile Shezi

Sandile Shezi is among the youngest millionaires in South Africa, and his Forex career is one that is considered to display the potential profits to be made in having a risk-taking attitude to trading.

Having experienced remarkable success in the Forex market, Shezi established the Global Forex Institute to train beginner traders, as well as the Sandile Shezi Foundation, which is involved in community upliftment.

Much of Shezi’s message is centered on the value of Forex trading for young Africans today.

Simz D’mandla

One of the most successful Forex traders on the African continent, Simz D’mandla is the founder and CEO of Trade4Africa and The African Millionaires Program.

D’mandla began trading on the JSE as a hobby during high school, which flourished into a full trading career in which he implemented smart trading strategies on the Forex market. By the age of twenty, D’mandla was a self-made millionaire.

Today, the successful trader is also an Angel investor, philanthropist, and business strategist, with the vision of uplifting African economies.

Louis Tshakoane Junior

A millionaire Forex trader, Louis Tshakoane founded the Undercover Millionaires International initiative to develop a network of business professionals, as well as provide necessary Forex training.

The trader hosted a free Forex seminar for students which provided each of them with a free Forex account. Tshakoane has recently branched into cryptocurrency trading.

Michael Anyimah

Michael Anyimah is an extraordinarily successful Nigerian trading leader whose career began as a Forex trader for Citigroup Nigeria.

In this capacity, Anyimah enjoyed great trading success, which resulted in him eventually being offered the position of Head of Forex, Derivatives, and Sales at Zenith Bank International, which is Nigeria’s largest bank by asset base.

A great proportion of the bank’s profits are earned from derivatives trading under Anyimah’s careful guidance as a successful Forex trader.

The trader has since moved on to First Bank to implement his trading acumen to the improvement of the Bank’s Forex and Derivatives Trading Sector.

Adeshina Adetunji

Another successful Nigerian trader, Adeshina Adetunji whose trading career prospered based on sound trading strategies and the implementation of adequate risk management strategies.

Today, Adetunji is an Equity and FX Private Fund Manager, an Internationally Certified Financial Markets Technical Analyst (CFTe), and a TA Consultant & Trainer. Furthermore, the trader is also a Managing Partner at Trendonomics Partners Limited.

Jeremiah Mootseng

Jeremiah Mootseng is a self-made millionaire owing to his astute and risk-adjusted approach to Forex trading. As such, the trader has established himself as something of a pioneer of Forex trading in Namibia and is a popular Forex mentor.

Mooting focuses on developing beginner trader’s understanding of the complexities of the Forex market and is the founder and owner of the First Forex Institute in Namibia.

George van der Riet

George van der Riet is a popular and well-known Forex trader who was able to amass a great amount of wealth and success through his careful and studious application to using the best Forex strategies for his trading goals.

Van der Riet is today the head trader at the Global Forex Institute, and the recipient of the African Forex Cup.

Uche Paragon

Uche Paragon is a successful Nigerian Forex trader whose net worth accounted for approximately $16 million in 2019, all derived from trading currency pairs and commodities.

Paragon started his trading career with Forex broker XM due to their percentage-based bonuses but attributes his success to taking the time to gather the necessary knowledge and skill before entering the Forex market.

Ajidahun Afioluwa

Ajidahun Afioluwa began his Forex trading journey after meeting various leading Nigerian Forex traders.

Inspired by their success, Afioluwa initially experienced significant losses, which prompted him to begin testing out numerous trading strategies until he found the one which best suited his trading style and goals.

As such, Afioluwa went on to enjoy significant trading success, gaining enough wealth to retire at the age of 28.

Blessing Ezeako

Blessing Ezeako is another prominent and successful Forex trader which spent a significant amount of time gathering enough trading knowledge before entering the Forex markets.

When she opened her first live trading account, she focusses on the major currency pairs and reinvested her profits into her trading account to grow her trading capacity, and her wealth, over time.

Benjamin Ajimoko

Benjamin Ajimoko attributes much of his Forex trading success to focusing on trading psychology to develop the right mindset, coupled with considerable time spent on training and self-education.

Ajimoko devotes much of his time to teaching beginner Nigerian traders about the fundamentals of the Forex market, with the principle of trading discipline as the basis of all his lessons.

Chinedu Onuoha

Chinedu Onuoha is an established and successful Nigerian Forex trader who has been making serious profits from the currency markets for more than 12 years, as well as branching into commodities, futures, and equities for greater portfolio diversity.

He focuses on devising sustainable trading strategies to minimize the number of losing trades over time.

Patrick Ogagbor

A former banker, Patrick Ogagbor used his extensive background in finance to enter Forex trading full time in 2003. By 2007, Ogagbor had accumulated serious profits off his successful trading tactics.

He became successful by developing his own trading strategy that would give him the competitive edge, coupled with an effective risk management strategy to minimize any substantial losses.

Shaun Benjamin

Shaun Benjamin is a young South African Forex trader who became highly adept at understanding the dynamics between different currency pairs, making his first million at the age of 21.

Eventually moving into Forex trading full-time, Benjamin went on to find the Benjamin Forex Academy.

Nelisiwe Masango

Having had a natural interest in the financial markets from an early age, Nelisiwe Masango is a self-taught Forex trader who was able to apply her instincts for reading the financial markets to enjoy a phenomenally successful Forex trading career.

Today, Masango is the director of the Forex trading company, Bear Run Investments, and focuses on promoting women in finance.

Paballo Nkwe and Danielle Lester

This influential trading duo has been highly inspiring to young female traders in South Africa and throughout the African continent, has made several significant contributions to the growth of the investment sector.

These include developing financial models which are user-friendly, founding influential start-ups, and mentoring other young Forex traders.

Nobuhle Catherine Anajemba

Having earned the title Richest Forex Woman in Africa, Nobuhle Catherine Anajemba is the founder of the publicly quoted Digital Bank of Africa (DBA).

This intrepid South African businessperson was able to amass a great amount of wealth as a Forex trader and businessperson.

Today, Anajemba is the current Chief Marketing Officer of the DBA Network, having formerly been the Chief Executive Officer of WIF Global Ltd and the managing director of B-Exchange Ltd.

Reabetswe Shongwe

Reabetswe Shongwe is something of a rags-to-riches Forex trading success story, having moved on from the position of low-paid retail sales assistant to one of the wealthiest young female Forex traders in Africa.

Focusing on educating herself in Forex trading, Shongwe joined the Women in Forex and Entrepreneurship (W.I.F.E) which is a division under the wealth creation organization, Trade4Africa.

Shongwe went on to enjoy great financial success as a trader and advises beginner traders to focus on education first.

FAQ’s

What does it take to be a successful Forex trader?

As a rule, most successful forex traders will tell you that there are no rules to success and no secret formulas.

However, most successful traders place an extraordinarily strong emphasis on beginner traders thoroughly educating themselves with regards to the fundamental and technical aspects of the Forex market.

The next step is to back-test as many Forex trading strategies as possible, to find the one which best suits your trading style and trading goals.

Finally, it is crucial to implement an effective risk management strategy alongside your trading strategy to mitigate your losses as far as possible.

Do successful Forex traders become wealthy overnight?

While some success stories do happen very quickly, these tend to be the exception, instead of the rule. Most successful traders took several years to master their technique, and several more years to accrue more profits than losses.

Why is Forex trading so successful in Africa?

Forex trading in Africa has experienced exponential growth in popularity over the last few years owing to several key factors.

These include a faster and more stable internet connection, a more connected younger generation, and a growing need for employment opportunities.

As such, online trading has proven an excellent opportunity for many young African men and women who are highly adept at developing effective strategies for successful currency trading, providing a new and exciting form of wealth and opportunity across the continent.

How do I start Forex trading?

As a beginner Forex trader, it is crucial to first educate yourself as much as possible about the Forex market, and the various aspects of Forex trading. There are many great online resources for this, many of which are offered for free.

Next, it is important to research all the different trading strategies that have been developed and to backtest these to find the one which best suits you.

Finally, it is crucial to research all the prospective Forex brokers which are available for online trading in your country.

When choosing the right brokers, it is vital to check that they are properly regulated, to research their trading conditions, and to make sure that the number of currency pairs and instruments which they offer will best suit your trading strategy.

Can I trade without a strategy?

Of course, you can choose to trade without a strategy, but this is not advised. Trading without a strategy will leave you without a plan or a trading goal and make you far more susceptible to sustaining severe losses.

A forex strategy will help you to trade unemotionally. This is especially important as emotional trading can cause you to make serious mistakes.