Even during the pandemic, the billionaires in Africa have witnessed a significant increase in their wealth. The year 2021 saw a significant rise in their worth, just as the year previous and it is expected that the trend would follow.
According to Forbes, 18 of these people had a “net worth of $84.9 billion at the end of 2021, which is 15 per cent or $4.7 billion more than their combined net worth of $73.8 billion at the end of 2020”.
Let us see how these 10 richest African people stand at the moment.
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1. Aliko Dangote ($20.4 billion, Nigerian)
The Nigerian billionaire remains the richest man in Africa for the tenth year in a row. His net worth of $20.4 billion is attributed to his stake in Dangote Cement Plc, Africa’s largest manufacturer of cement.
2. Johann Rupert ($11.4 billion, South African)
The South Africa’s richest man is second richest in the continent. His worth saw an increase in 2021 by $3.88 billion as shares in his luxury goods holding company, Richemont, surged by over 60 per cent.
3. Nicky Oppenheimer ($8.18 billion, South African)
The former head of diamond mining firm DeBeers has a net worth of $8.18 billion. His worth is largely held in private equity investments in Africa, Asia, US, and Europe through London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
4. Natie Kirsh ($7.68 billion, Emaswati)
Kirsh has made his wealth through ownership of Kirsh Group, a closely held conglomerate that is owner of a majority stake in the food supply company Jetro Holdings.
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5. Abdul Samad Rabiu ($7.5 billion, Nigerian)
Abdul Samad Rabiu is the founder of one of Africa’s fastest growing manufacturing conglomerates, BUA Group. His wealth largely comes from 97 per cent stakes in BUA Cement Plc.
6. Mike Adenuga ($6.7 billion, Nigerian)
Mike Adenuga is the founder of Nigerian telecom company Globacom Limited and majority owner of Nigeria’s pioneer petroleum marketer, Conoil Plc.
7. Mohammed Ali Amoudi ($6.45 billion, Ethiopian)
He is the richest man in Ethiopia and seventh richest in Africa with most of his worth derived from assets in Sweden, Morocco, Saudi Arabia, Ethiopia, as well as his stake in Svenska Petroleum Exploration, Preem, Sweden’s largest oil refiner, and a 67 per cent stake in Samir, Morocco’s sole oil refiner.
8. Nassef Sawiris ($6.29 billion, Egyptian)
The majority of the Sawiris’ fortune is attributed to his stake in Dutch fertilizer producer OCI N.V. and his 3.72 per cent stake in German sportswear manufacturer Adidas.
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9. Issad Rebrab ($5.1 billion, Algerian)
Rebrab, founder and CEO of Cevital, derives his wealth from his business interest in Cevital Group.
10. Naguib Sawiris ($3.4 billion, Egyptian)
Naguib Sawiris is the elder brother of Egypt’s richest man, Nassef Sawiris. His fortune has been amassed from selling of Orascom Telecom to Russian telecom firm VimpelCom (now Veon) in a multibillion dollar deal in 2011. He currently is a shareholder in Orascom TMT Investments and Ora Developers, a real estate developer.