richest africans

Forbes Magazine is a publication that is well-known for their high quality, well-researched and comprehensive lists when it comes to business, entertainment, politics or technology. It also gives an annual list of richest Africans.

Every year, the company measures the world’s wealth in terms of who has what, who lost what, etc and comes up with a list of people who control the world’s economic resources.

This year 2018 is another year and the company has released their list of the 21 richest Africans – with particular interest in those living in Africa (instead of 21 richest people) and even though Nigerian industrialist, Aliko Dangote is still number one, his net worth rose from nearly $5 billion to $12.2 billion.

The Forbes notes that in recent years, the fortunes of African billionaires have continued to take a downward spiral with so many dropping completely out of the billionaires’ list.

The dwindling oil prices, faulty economic policies and recent economic crunch in most countries of Africa can be said to be responsible for the turnout of economic events for the continent.

Nigerian business magnate, Aliko Dangote remains Africa’s richest person – a position he occupied since 2011 despite the recession in Nigeria. Others Nigerians in the 2018 African Billionaires list include oil and telecom baron, Mike Adenuga, in 5th ($5.3 billion) and oil billionaire Folorunsho Alakija, in 15th (alongside Othman Benjelloun of Morocco) with $1.6 billion.

As expected, two Nigerians who featured last two years were nowhere in the billionaires’ list this year. Abdulsamad Rabiu dropped from the list as a result of the weakened Nigerian currency, which made his net worth fall below $1 billion. Femi Otedola’s net worth, on the other hand, dropped from $1.6 billion in 2015 to just $330 million in 2017.

Seven countries produced the 21 African billionaires for 2018. Asides Nigeria, six other African countries feature on the list and they include South Africa (6), Egypt (6), Morocco (3), Algeria (1), Angola (1) and Tanzania (1).

Angola produced the other female on the list besides Nigeria’s Alakija. Isabel dos Santos ($2.7 billion) in 9th is the daughter of the former Angolan President and the richest woman in Africa.

Thirteen out of Africa’s 21 billionaires have self-made fortunes, while the other eight inherited their fortunes.

Here’s a Comprehensive List of 21 Richest Africans

Name: Aliko Dangote (Nigeria)

Net Worth: $12.2 billion  

Position: 1st 

Richest Africans

He is the richest black person alive. The Nigerian billionaire who owns the Dangote Group, which has interests in commodities. The company operates in Nigeria and other African countries, including Benin, Ethiopia, Senegal, Cameroon, Ghana, South Africa, Togo, Tanzania, and Zambia.

Name: Nicholas Oppenheimer (South Africa)

Net Worth: $7.7 billion

Position: 2nd 

Richest Africans

He is the second in the list of richest Africans, of Jewish descent and also the richest man in South Africa.

Name: Johann Rupert (South Africa)

Net Worth: $7.2 billion

Position: 3rd

Richest Africans

He is the CEO of Compagnie Financiere Richemont. and Chairman of Richemont, a Swiss-based luxury-goods company and Remgro company, South Africa. His best advice to entrepreneurs is “Follow your gut!” following his failure to buy half of Gucci at just $175 million when he had the opportunity to do so – an action he describes as his biggest regret.

See Also: Top 10 Richest Black Billionaires Worldwide

Name: Nassef Sawiris (Egypt)

Net Worth: $6.8 billion

Position: 4th

Richest Africans

He is an Egyptian billionaire businessman, the youngest of Onsi Sawiris’ three sons (his brothers are Naguib and Samih).

Name: Michael Adenuga (Nigeria)

Net Worth: $5.3 billion

Position: 5th

Richest Africans

He is the owner of the telecom company Globacom – which is Nigeria’s second-largest telecom operator. He is also the second richest person in Nigeria. His other investment interests include the Equitorial Trust Bank and the oil exploration firm, Conoil.

Name: Issad Rebrab & Family (Algeria)

Net Worth: $4 billion

Position: 6th Richest Africans

He is an Algerian billionaire businessman, and founder of the CEVITAL conglomerate, the largest private company in Algeria, which owns one of the largest sugar refineries in the world.

Name: Naguib Sawiris (Egypt)

Net Worth: $4 billion

Position: 6th
Richest Africans

He is an Egyptian billionaire businessman. Sawiris is Chairman of Orascom Telecom Media and Technology Holding S.A.E. Together with his brothers, they make up the list of richest Africans.

Name: Koos Bekker (South Africa)

Net Worth: $2.8 billion

Position: 8th

Jacobus Petrus “Koos” Bekker is the billionaire Chairman designate of leading merging
markets media group Naspers. The South African media tycoon stepped down as CEO of media conglomerate Naspers in February 2014 after running the Cape Town-based company since 1997.

Name: Isabel dos Santos (Angola)

Net Worth: $2.7 billion

Position: 9th Richest Africans

She is the oldest daughter of Angola’s longtime president, José Eduardo dos Santos, who ruled the country from 1979-2017. She is Africa’s richest woman, making her the first woman in the list of richest Africans. She was also head of Sonangol, Angola’s state oil firm.

Name: Mohamed Mansour (Egypt)

Net Worth: $2.7 billion

Position: 9th Richest Africans

He is an Egyptian businessman and former politician. He is the chairman of Mansour Group, a $6 billion conglomerate that is the second-largest company in Egypt by revenue.

Read More: Aliko Dangote Wife, Children, Net Worth, House, Cars

Name: Patrice Tlhopane Motsepe (South Africa)

Net Worth: $2.4 billion

Position: 11th Richest Africans

He is a mining magnate and has interests in gold, ferrous metals, base metals, and platinum. He is also the founder and executive chairman of African Rainbow Minerals.

Name: Aziz Akhannouch & Family (Morocco) 

Net Worth: $2.2 billion 

Position: 12th

Richest Africans

He is the current Minister of Agriculture in Morroco and also one of the finest businessmen in the country. He is the CEO of a Moroccan conglomerate called Akwa Group, which is actively involved in the oil and gas.

Name: Yasseen Mansour (Egypt)

Net Worth: $1.9 billion

Position: 13th Richest Africans

He is an Egyptian billionaire who owns part of the Mansour Group, alongside his two billionaire brothers; Mohamed Mansour and Youssef Mansour.

Name: Strive Masiyiwa (South Africa)

Net Worth: $1.7 billion

Position: 14th

Strive Masiyiwa is a telecommunication boss from Zimbabwe but is based in Johannesburg, South Africa. He is the founder of the telecommunications firm, Econet, which came into existence in 1998 after a protracted legal war with the government of Zimbabwe.

Name: Folorunsho Alakija (Nigeria)

Net Worth: $1.6 billion

Position: 15th Richest Africans

She is a businesswoman of Nigerian descent and was the richest black woman in the world in 2014, unseating Oprah Winfrey at the top. A  business juggernaut, she is the executive vice-chairman of Famfa Oil Limited. Alakija is also the managing director of The Rose of Sharon Group.

Name: Othman Benjelloun (Morocco)

Net Worth: $1.6 billion

Position: 15th Richest Africans

He is chairman of BMCE Bank, Africa’s second-largest bank with operations in 20 African countries, including Senegal, Kenya and Congo. He also co-owns Ranch Adarouch, where he raises livestock and keeps racehorses.

Name: Mohammed Dewji (Tanzania)

Net Worth: $1.5 billion

Position: 17th Richest Africans

He is a businessman and the president and CEO of MeTL Group, a Tanzanian conglomerate founded by his father in the 1970s. A philanthropist, he is also a former Tanzanian politician, having served as Member of the Tanzanian Parliament between 2005 and 2015.

Name: Youssef Mansour (Egypt)

Net Worth: $1.4 billion

Position: 18th Richest Africans

He is an Egyptian billionaire businessman and part owner of the Mansour Group. Billions seem to run in their family as his brothers; Mohamed Mansour and Yasseen Mansour are also billionaires.

Name: Michiel Le Roux (South Africa)

Net Worth: $1.2 billion

Position: 19th

Michiel Le Roux Le Roux is from South Africa and has found his way into Forbe’s January
2018 list of richest people in Africa following his outstanding accomplishment in the banking sector. Mr. Le Roux is the founder and former Chairman of Capitec Bank Holdings Limited. The bank, established in 2001, trades on the Johannesburg Stock Exchange with its major target on the emerging middle class in South Africa.

See Again: Wives Of 6 Nigerian Billionaires You Should Meet

Name: Stephen Bradley Saad (South Africa) 

Net Worth: $1.2 billion

Position: 19th Richest Africans

He is a South African businessman, who is the co-founder and chief executive of Aspen Pharmacare, the largest producer of generic medicines on the African continent.

Name: Christoffel Hendrik Wiese (South Africa)

Net Worth: $1.1 billion

Position: 21st

Desmond Sacco is a South African businessman and the Chairman and Managing Director
of Assore Limited. His father founded the Assore Group in the year 1928 and later in 1968, he (Desmond) joined the group. Desmond Sacco is also the Chairman of Assmang Limited, a mining group in which Assore has a 50% stake and shares with billionaire Patrice Motsepe’s African Rainbow Minerals group.

Name: Onsi Sawiris (Egypt)

Net Worth: $1.1 billion

Position: 21st Richest Africans

He founded the Orascom conglomerate and is the patriarchal head of the Sawiris Family. His company is also run along with his three billionaire sons who make up the list of richest Africans; Naguib Sawiris, Nassef Sawiris and Samih Sawiris.

Name: Christoffel Hendrik Wiese (South Africa)

Net Worth: $1.1 billion

Position: 21st

Richest Africans

He is a bargain shopping African retail tycoon that deals on everyday items at a very reduced cost. He currently presides over 11,000 stores across 30 countries.

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