By Brian Okoth
Nigeria's Aliko Dangote is Africa's richest person with a net worth of $13.9 billion, according to the latest Forbes ranking.
The magazine says the top 20 African billionaires have a combined net worth of $82.4 billion, an increase of $900 million compared to one year ago.
"All of that gain can be attributed to the return of Nigeria's Femi Otedola, who last appeared on the Forbes Africa list in 2017 when he held a controlling stake in fuel distributor Forte Oil," Forbes says.
According to the magazine, Africa remains one of the world's "toughest places to build – and hold onto – a billion-dollar fortune," citing volatile currency exchange rates, political situations, among other factors.
South Africa has six billionaires
In the top 20, South Africa claimed six spots, followed by Egypt (5), Nigeria (4) and Morocco (2). Algeria, Tanzania and Zimbabwe each had one billionaire on the list.
Forbes says it used stock prices and currency exchange rates as of January 8, 2024 to measure the net worths.
"Some list members grow richer or poorer within weeks or days of our measurement date," the magazine says.
Africa's wealthiest man, Dangote, 66, has business interests in cement, oil refinery, sugar, fertiliser, among others.
Rupert's brief stay at the top
South Africa's Johann Rupert comes second behind Dangote, with a net worth of $10.1 billion.
Rupert, who briefly became Africa's richest man in early January, is the chairperson of Swiss luxury group Richemont. The 73-year-old oversees an elite portfolio of luxury brands and established jewellery and watch brands.
Another South African, 78-year-old Nicky Oppenheimer, comes third, with a net worth of $9.4 billion. He has interests in metals and mining.
Egyptian businessman Nassef Sawiris, 63, is Africa's fourth-richest person, with a net worth of $8.7 billion. Sawiris has business interests in construction, engineering and fertiliser production.
Adenuga rounds out top five
Nigeria's Mike Adenuga, 70, is the fifth-richest man in Africa with a net worth of $6.9 billion. He has business interests in petroleum, banking, construction and real estate.
Another Nigerian, Abdulsamad Rabiu, features on the list, taking up the sixth position, with a net worth of $5.9 billion. Rabiu, 63, trades in cement, sugar, edible oil, among others. He also has interests in real estate.
Egypt's Naguib Sawiris is Africa's seventh-richest person, with a net worth of $3.8 billion. The 69-year-old owns stakes in gold mines, and made a fortune by selling his share of a telecommunications company to a Russian firm. Naguib is the elder brother of Nassef Sawiris, Africa's fourth-richest man.
Egypt's Mohamed Mansour, 76, is the eighth-richest man in Africa, with a net worth of $3.2 billion. He has interests in automotive, investment and foodstuff.
Bekker and Motsepe tie for ninth
South Africa's Koos Bekker, 71, is Africa's ninth-richest person, with a net worth of $2.7 billion. He has interests in media, financial technology and food delivery.
Bekker ties in the ninth spot with his fellow countryman Patrice Motsepe, who has interests in metals and mining. The 61-year-old is the incumbent president of the Confederation of African Football (CAF).
Algeria's Issad Rebrab, 79, is the eleventh-richest person in Africa, with a net worth of $2.5 billion. He has business interests in food, steel, agri-business and electronics.
Tanzania's Mohammed Dewji, 48, and Zimbabwe's Strive Masiyiwa, 62, tie at position 12, with a net worth of $1.8 billion each. Dewji has business interests in transport, petroleum, agriculture, real estate, mobile telephony, food and beverages, while Masiyiwa has interests in telecommunications.
Moroccan prime minister
Morocco's Prime Minister Aziz Akhannouch, 63, ranks position 14 in Africa, with a net worth of $1.7 billion. He has business interests in oil and gas.
Another Moroccan, Othman Benjelloun, also features on the list at number 15. The 92-year-old, who has interests in finance and investment, has a net worth of $1.4 billion.
Egypt's Youssef Mansour, 78, ranks position 16 in Africa, with a net worth of $1.3 billion. He deals in consumer goods. He is the elder brother of Mohamed Mansour, Africa's eighth-richest man.
Youssef's other brother, Yasseen Mansour, is Africa's 17th-richest person. The 63-year-old Yasseen, who has interests in the automotive sector, has a net worth of $1.2 billion.
Otedola and Le Roux tie for 19th
South Africa's Christoffel Wiese also has a net worth of $1.2 billion to tie with Yasseen at position 17. The 82-year-old Wiese has business interests in retail, real estate and investment.
Another South African, Michiel Le Roux, and Nigeria's Femi Otedola tie at position 19, with a net worth of $1.1 billion each. Le Roux, 74, has business interests in banking, while Otedola, 61, has business interests in shipping, petroleum, finance and investment.
Summary:
1. Aliko Dangote (Nigeria) – $13.9b
2. Johann Rupert (S. Africa) – $10.1b
3. Nicky Oppenheimer (S. Africa) – $9.4b
4. Nassef Sawiris (Egypt) – $8.7b
5. Mike Adenuga (Nigeria) – $6.9b
6. Abdulsamad Rabiu (Nigeria) – $5.9b
7. Naguib Sawiris (Egypt) – $3.8b
8. Mohamed Mansour (Egypt) – $3.2b
9. Koos Bekker (S. Africa) – $2.7b
10. Patrice Motsepe (S. Africa) – $2.7b
11. Issad Rebrab (Algeria) – $2.5b
12. Mohammed Dewji (Tanzania) – $1.8b
13. Strive Masiyiwa (Zimbabwe) – $1.8b
14. Aziz Akhannouch (Morocco) – $1.7b
15. Othman Benjelloun (Morocco) – $1.4b
16. Youssef Mansour – (Egypt) $1.3b
17. Yasseen Mansour (Egypt) – $1.2b
18. Christoffel Wiese (S. Africa) – $1.2b
19. Michiel Le Roux (S. Africa) – $1.1b
20. Femi Otedola (Nigeria) – $1.1b
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