Top 20 Richest People in Africa
Africa’s economic landscape is shaped by visionary entrepreneurs and industry leaders who have built empires across sectors like commodities, telecom, and finance. Here’s a look at the continent’s 20 wealthiest individuals, based on recent estimates (2023).
1. Aliko Dangote
Net Worth: 13.5Billion
Nationality: Nigerian
Industry: Cement, Sugar, Flour
KeyVentures: DangoteGroup, Africa’s largest cement producer.
2. Johann Rupert
Net Worth: $10.7 Billion
Nationality: South African
Industry: Luxury Goods
Key Ventures: Chairman of Richemont (Cartier, Montblanc) and Remgro, Rupert dominates the global luxury market.
3. Nicky Oppenheimer
Net Worth: 8.4Billion
Nationality: SouthAfrican
Industry: Diamonds
KeyVentures: FormerDeBeerschairman
4. Nassef Sawiris
Net Worth: $7.9 Billion
Nationality: Egyptian
Industry: Construction, Chemicals
Key Ventures: CEO of Orascom Construction; investor in Adidas and Aston Villa Football Club.
5. Mike Adenuga
Net Worth: $7.4 Billion
Nationality: Nigerian
Industry: Telecom, Oil
Key Ventures: Founder of Globacom (Nigeria’s second-largest telecom) and Conoil.
6. Abdulsamad Rabiu
Net Worth: $7.1 Billion
Nationality: Nigerian
Industry: Cement, Sugar
Key Ventures: BUA Group, a conglomerate challenging Dangote’s dominance in cement and food production.
7. Issad Rebrab
Net Worth: $5.8 Billion
Nationality: Algerian
Industry: Food Processing
Key Ventures: Cevital, Africa’s largest private conglomerate, with interests in agriculture, retail, and steel.
8. Mohamed Mansour
Net Worth: $5.5 Billion
Nationality: Egyptian
Industry: Diversified
Key Ventures: Mansour Group (General Motors distributor) and former chairman of LSE-listed conglomerate Melrose Industries.
9. Patrice Motsepe
Net Worth: $3.2 Billion
Nationality: South African
Industry: Mining
Key Ventures: Founder of African Rainbow Minerals; owner of Mamelodi Sundowns FC and first Black African on Forbes’ billionaire list.
10. Koos Bekker
Net Worth: $2.7 Billion
Nationality: South African
Industry: Media/Technology
Key Ventures: Transformed Naspers into a tech giant via early investments in Tencent and Multichoice.
11. Aziz Akhannouch
Net Worth: $2.5 Billion
Nationality: Moroccan
Industry: Petroleum, Media
Key Ventures: CEO of Akwa Group; Morocco’s Prime Minister since 2021.
12. Mohammed Dewji
Net Worth: $1.8 Billion
Nationality: Tanzanian
Industry: Manufacturing
Key Ventures: MeTL Group, spanning agriculture, textiles, and logistics across 10+ African countries.
13. Youssef Mansour
Net Worth: $1.7 Billion
Nationality: Egyptian
Industry: Diversified
Key Ventures: Mansour Group’s retail arm; exclusive distributor of LG, Chevrolet, and Caterpillar in Egypt.
14. Strive Masiyiwa
Net Worth: $1.6 Billion
Nationality: Zimbabwean
Industry: Telecom
Key Ventures: Founder of Econet Wireless; philanthropist supporting African education and health initiatives.
15. Femi Otedola
Net Worth: $1.5 Billion
Nationality: Nigerian
Industry: Energy
Key Ventures: Former owner of Forte Oil; major stakeholder in Geregu Power Plant.
16. Folorunsho Alakija
Net Worth: $1.4 Billion
Nationality: Nigerian
Industry: Oil
Key Ventures: Rose from fashion design to co-owning one of Nigeria’s largest oil blocks.
17. Othman Benjelloun
Net Worth: $1.3 Billion
Nationality: Moroccan
Industry: Banking, Insurance
Key Ventures: CEO of BMCE Bank; expanded into sub-Saharan Africa and Europe.
18. Michiel Le Roux
Net Worth: $1.2 Billion
Nationality: South African
Industry: Banking
Key Ventures: Co-founder of Capitec Bank, disrupting South Africa’s retail banking sector.
19. Naguib Sawiris
Net Worth: $1.1 Billion
Nationality: Egyptian
Industry: Telecom
Key Ventures: Built Orascom Telecom into a global player; founder of WEISS (alternative energy venture).
20. Isabel dos Santos
Net Worth: $1.0 Billion
Nationality: Angolan
Industry: Investments
Key Ventures: Daughter of Angola’s ex-president; assets frozen amid corruption investigations. (*Contested)
Trends and Insights:
- Sector Dominance: Commodities (cement, oil, diamonds) and telecom lead wealth creation.
- Geographic Spread: Nigeria, Egypt, and South Africa dominate, reflecting their economic heft.
- Challenges: Political instability, currency fluctuations, and global market shifts impact fortunes.
Conclusion: Africa’s billionaires exemplify resilience and innovation, driving growth despite systemic challenges. As tech and renewable energy rise, new names may soon join this elite list.
Note: Net worth figures are approximate and subject to market changes. Isabel dos Santos’ wealth is disputed due to legal issues.