User Review( vote)
The African continent has produced 20 billionaires so far and it shows no sign of slowing down. However, there are many more African born billionaires that are excluded from this list because they don’t reside or run their primary businesses in Africa. Example, Mo Ibrahim is a Sudanese born billionaire but is currently a citizen of the United Kingdom.
The combined net worth of the top ten richest people in Africa adds up to a staggering $56.4 billion as of the year 2020.
10. Patrice Motsepe
NET WORTH: $2.6 BILLION
Patrice Motsepe is a South African billionaire with an estimated net worth of $2.6 billion. He is the first Black African on the Forbes list. He became a billionaire at age 46 in the year 2008. In 2012, Patrice Motsepe was declared as the richest man in South Africa and he currently sits at number 3. He is the founder and chairman of African Rainbow Minerals, a successful mining company based in South Africa.
9. Naguib Sawiris
NET WORTH: $3 BILLION
Naguib Sawiris is an Egyptian billionaire with an estimated net worth of $3 billion. He is currently the third richest man in Egypt. He made his biggest fortune when he sold Orascom Telecom to a Russian telecom company, Veon back in 2011. He is also the founder and CEO of Global Telecom Holding (an international telecommunications company) under the parent company Veon.
8. Abdul Samad Rabiu
NET WORTH: $3.1 BILLION
SOURCE: CEMENT & SUGAR
Abdul Samad Rabiu is a Nigerian billionaire with an estimated net worth of $3.1 billion. He is currently the third richest person in Nigeria. He is the founder and chairman of BUA Group, a Nigerian conglomerate involved in cement production, sugar refining and infrastructure. He is also the chairman of the Nigerian Bank of Industry which is the largest Nigerian finance development institution.
7. Mohamed Mansour
NET WORTH: $3.3 BILLION
Mohamed Mansour is an Egyptian billionaire businessman and a former politician with an estimated net worth of $3.3 billion. He is the second richest man in Egypt and the chairman of Mansour Group, which was co-founded by his father Loutfy Mansour. Mansour Group is the second largest company in Egypt by revenue. It is also the fifth largest distributor of Caterpillar Inc products and the largest dealer of General Motors in the world. Mohamed Mansour has also ventured into investment firm and supermarket chains like Metro Markets and Kheir Zaman discount chain. He has served as the Egyptian Minister of Transportation from 2006 to 2009.
6. Issad Rebrab
NET WORTH: $4.4 BILLION
Issad Rebrab is an Algerian billionaire with an estimated net worth of $4.4 billion. He is the richest man in Algeria and the founder and CEO of Cevital, the largest private conglomerate in Algeria. Cevital is involved in food processing and distribution, glass production and retail. Cevital owns other companies outside Africa including a German water purification company, an Italian steel mill and Brandit, a French home appliance maker.
5. Johann Rupert
NET WORTH: $6.5 BILLION
SOURCE: LUXURY GOODS
Johann Rupert is a South African billionaire businessman and the second richest person in South Africa with an estimated net worth of $6.5 billion. He is the chairman of Richemont, a company founded by his father, that produces and sells Jewellery, watches, pens, firearms and clothing. He is also the co-founder and chairman of an investment holding company based in South Africa, Remgro Limited. Johann Rupert owns 7% of Remgro as well as a whooping 25% of Reinet, another investment holding based in Luxembourg.
4. Nicky Oppenheimer
NET WORTH: $7.7 BILLION
Nicky Oppenheimer is the richest man in South Africa with an estimated net worth of over $7.7 billion. He is the third generation of his family to run De Beers Group, an international corporation involved in diamond mining, retail, trading and manufacturing sectors. De Beers Group was founded 132 years ago and it has been a success in the world’s diamond trade selling an approximated 35% of the world’s rough diamond.
Nicky Oppenheimer was the former chairman of De Beers Diamond Company, Diamond Trading Company and a deputy chairman of Anglo American plc (a multinational mining company based in South Africa and the UK). He later sold a 40% stake of De Beers to Anglo American for a staggering $ 5.1 billion in cash.
3. Mike Adenuga
NET WORTH: $7.7 BILLION
SOURCE: TELECOM & OIL
Mike Adenuga is the second richest person in Nigeria with an estimated net worth of $7.7 billion. He is the co-founder of Globacom, the second largest telecommunication company in Nigeria with over 29.2 million subscribers as of the year 2019. He also chairs a Nigerian petroleum marketing company, Conoil, which is mostly involved in selling modulated diesel, kerosene, gasoline, aviation fuel and low pour fuel.
2. Nassef Sawiris
NET WORTH: $8 BILLION
SOURCE: CONSTRUCTION & CHEMICALS
Nassef Sawiris is an Egyptian billionaire with an estimated net worth of $ 8 billion. He is the richest man in Egypt. He has held many high ranking positions in different organizations but he is best known as the CEO of Orascom Construction, an international engineering and construction contractor primarily focused on infrastructure, industrial and high-end commercial projects which was founded by his father in 1950.
He was on the board of directors of different institutions such as; the Cairo and Alexandria Stock Exchange, Dubai International Financial Exchange (DIFX) and Lafarge Holcim Limited, a Swiss multinational company that manufactures building materials. Nassef Sawiris is also the Executive Chairman of an English football club, Aston Villa FC. His brother, Naguib Sawiris, is also a billionaire ranking as the ninth richest person in Africa.
1. Aliko Dangote
SOURCE: CEMENT & SUGAR
NET WORTH: $10.1 BILLION
Aliko Dangote is the richest man in Africa with an estimated net worth of $ 10.1 billion. He is the founder and the chairman of the largest West African industrial conglomerate, The Dangote Group. The Dangote Group is a multi trillion-Naira conglomerate which concentrates on manufacturing, food processing and freight. It is the largest supplier of Nigeria’s soft drinks companies and confectioneries. It is also the largest sugar refinery in Africa and one of the largest in the world with a production capacity of about 1.4 million tones of sugar yearly.
Dangote Group is also the largest manufacturer of cement in Africa with a production capacity of up to 45.6 million tons a year in ten African countries. Aliko Dangote owns 85% of the traded Dangote cement through a holding company. He is currently building an oil refinery which is expected to be the world’s largest oil refinery after it is completed.