Dangote remains Forbes’ Richest Man in Africa

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Nigerian businessman, Aliko Dangote has retained his rank as Africa’s richest man as confirmed in the 2022 edition of the Forbes’ Top 10 Africa’s Billionaires List.

Aliko Dangote who has been Africa’s richest person for 11 years in a row, has an estimated networth of $13.9 billion, up from $12.1 billion in 2021.

Forbes disclosed that this is as a result of 30 percent increase in the stock price of Dangote Cement, his most valuable asset.

The Forbes report also revealed that Africa’s billionaires were richer than they had been in years, despite the global pandemic.

As a group, the continent’s 18 billionaires were worth an estimated $84.9 billion, a 15 percent increase from twelve months ago and the most since 2014, when a larger number of billionaires (28) were worth a combined $96.5 billion.

On average, the continent’s billionaires were worth $4.7 billion now, worth $3.4 billion in 2014 with soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products from cement to luxury goods ticked up.

The 18 billionaires from Africa, who were not new to the ranks, also hailed from seven different countries, South Africa and Egypt each had five billionaires, followed by Nigeria with three and Morocco with two.

All of the continent’s billionaires were men; the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.

See the full list below:

1 Aliko Dangote $13.9 B 64 cement, sugar

2 Johann Rupert $11 B 71 luxury goods

3 Nicky Oppenheimer $8.7 B 76 diamonds

4 Nassef Sawiris $8.6 B 61 construction, investments

5 Abdulsamad Rabiu $7 B 61 cement, sugar

6 Mike Adenuga $6.7 B 68 telecom, oil

7 Issad Rebrab $5.1 B 78 food

8 Naguib Sawiris $3.4 B 67 telecom

9 Patrice Motsepe $3.1 B 59 mining

10 Koos Bekker $2.7 B 69 media, investments

10 Strive Masiyiwa $2.7 B 60 telecom

12 Mohamed Mansour $2.5 B 74 diversified

13 Aziz Akhannouch $2.2 B 61 petroleum, diversified

14 Michiel Le Roux $1.7 B 72 banking

15 Othman Benjelloun $1.5 B 89 banking, insurance

15 Mohammed Dewji $1.5 B 46 diversified

15 Youssef Mansour $1.5 B 76 diversified

18 Yasseen Mansour $1.1 B 60 diversified