Aliko Dangote Leads Forbes’ List of Africa’s Richest for 12th Consecutive Year

In a recent report by Forbes, Africa’s 19 billionaires collectively amassed a staggering $81.8 billion in wealth, with Nigeria’s Aliko Dangote maintaining his reign as the continent’s wealthiest individual for the 12th consecutive year. South Africa secured the lead with five billionaires, followed closely by Egypt and Nigeria.

As of November 22, 2023, the real-time net worth figures from Forbes showcased Aliko Dangote at the helm of Africa’s richest, boasting an impressive $10.1 billion. Dangote, a 66-year-old self-made billionaire in the realms of cement and sugar, is the founder and chair of Dangote Cement, the largest producer on the continent with an annual capacity of 48.6 million metric tons.

Dangote’s entrepreneurial journey has been marked by significant milestones, including the commencement of operations at his fertilizer plant in Nigeria in March 2022. The magnate, reflecting on his early business ventures, shared with Forbes how he started by selling sweets and reinvesting the profits.

The list of Africa’s wealthiest individuals as of November 22, 2023, includes notable figures such as Johann Rupert, with a net worth of $9.7 billion, renowned for his chairmanship of Swiss luxury goods firm Compagnie Financiere Richemont. Following closely is Nicky Oppenheimer and family, holding a net worth of $8.3 billion, and Nassef Sawiris from Egypt, with a real-time net worth of $6.9 billion.

Abdulsamad Rabiu, the 63-year-old Nigerian entrepreneur, boasts a real-time net worth of $6.4 billion, predominantly derived from his ventures in cement and sugar through BUA Group. Issad Rebrab, the 79-year-old Algerian, and his family have a net worth of $4.6 billion, rooted in the success of Cevital, Algeria’s largest privately-held company.

The roster continues with Mohamed Mansour at $3.6 billion, Naguib Sawiris at $3.3 billion, Mike Adenuga at $3.1 billion, Koos Bekker at $2.4 billion, and Patrice Motsepe at $2.3 billion. Notably, there are no female billionaires on the list of Africa’s richest.