The list of Africa’s rich people and billionaires is one that has seen a constant figure for the last decade.

Aliko Dangote for the 10th year in a row is the richest person in Africa. His fortune has risen by about $2B from last year.

Second to Mr. Dangote in the list is Nassef Sawiris from Egypt. Nassef Sawiris is known for his almost 6% shareholder status with sportswear maker Adidas.

In general, the richest people in Africa according to Forbes are 12% richer than a year ago. 

The Coronavirus; Wealth Shift?

The coronavirus wrecked damaging ramifications on billions of people, lots of governments yet Africa’s and of course the world’s richest people escaped richer than before.

Indeed the coronavirus pandemic period was one of a great wealth shift. 

The List of Billionaires in African is a list researched and created by Forbes. 

Full List: Africa’s Billionaires, Net worth, and Their Countries.

1. Aliko Dangote

Aliko Dangote richest man in africa-african rich people-wealthiest african

Aliko Dangote has been the richest man in Africa since the year 2011. He has topped and remained unchallenged ever since.

Aliko was born into a middle-class family. Raised partly by his grandfather who was a serial entrepreneur, we can say Aliko took much of his granddad’s spirit for business. He is currently unmarried and has 3 biological daughters and 1 son.

Dangote’s fortune is primarily built from his company, Dangote Cement, although he started his business empire by selling commodities such as sugar, salt, and flour.

  1. Is Dangote Educated?

    Yes. He attended Al Azhar University Darrasah Campus, Government College, Birnin Kudu.

  2. What is Dangote's networth?

    $12.1 B

How did Dangote get rich?

Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer. He owns 85% of publicly traded Dangote Cement through a holding company. Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa

  • He also owns stakes in publicly-traded salt and sugar manufacturing companies.
  • Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.

Networth: $12.1 B

Age: 63

Source of Wealth: cement, sugar

2. Nassef Onsi Sawiris

Youssef Mansour

Nassef Sawiris is the owner of several companies and brands including football club Aston Villa. He has a 6% stake at Adidas. He was born on January 19, 1961.

Sawiris started off at the Orascom group in 1982 and was the overseer of the construction activities of the company after he was made manager by his father Onsi Sawiris in 1995.

He the CEO position after the company’s incorporation in 1998.

How Nassef Made his Fortunes

  • Nassef Sawiris is an investor and a scion of Egypt’s wealthiest family. His most valuable asset is a nearly 6% stake in sportswear maker Adidas.
  • In December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams.
  • He runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange.
  • Orascom Construction, an engineering and building firm, trades on the Cairo exchange and Nasdaq Dubai.
  • His holdings include stakes in cement giant Lafarge Holcim and Adidas; he sits on the supervisory board of Adidas.

Networth: $8.5 B

Age: 60

Source of Wealth: construction, investments

3. Nicky Oppenheimer

nicky-oppenheimer-african billionaires list

Nicholas F. Oppenheimer is a South African billionaire businessman. He was formerly the chairman of De Beers diamond mining company and of its subsidiary, the Diamond Trading Company, and former deputy chairman of Anglo American. He is the third richest man in Africa.

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How Oppenheimer Made his Fortunes

  • Oppenheimer, the heir to his family’s fortune, sold his 40% stake in diamond firm DeBeers to mining group Anglo American for $5.1 billion in cash in 2012.
  • He was the third generation of his family to run DeBeers, and took the company private in 2001.
  • For 85 years until 2012, the Oppenheimer family occupied a controlling spot in the world’s diamond trade.
  • In 2014, Oppenheimer started Fireblade Aviation in Johannesburg, which operates chartered flights with its fleet of 3 planes and 2 helicopters.
  • He owns at least 720 square miles of conservation land across South Africa, Botswana, and Zimbabwe.

Networth: $8 B

Age: 75

Source of wealth: Diamonds

4. Johann Rupert

Johann Rupert african billionaires

Johann Peter Rupert is a South African-born entrepreneur, who is the eldest son of business tycoon Anton Rupert and his wife Huberte.

He is the chairman of the Swiss-based luxury goods company Richemont and the South Africa-based company Remgro.

How Rupert Made his Fortunes

  • Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont.
  • The company is best known for the brands Cartier and Montblanc.
  • It was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited), which his father Anton formed in the 1940s.
  • He owns a 7% stake in diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding co. based in Luxembourg.
  • In recent years, Rupert has been a vocal opponent of plans to allow fracking in the Karoo, a region of South Africa where he owns the land.

Networth: $7.2 B

Age: 70

Source of wealth: luxury goods

5. Mike Adenuga

Mike Adenuga african billionaires

Chief Michael Adeniyi Agbolade Ishola Adenuga Jr CSG GCON is a Nigerian billionaire businessman and the fifth richest person in Africa.

His company Globacom is Nigeria’s second-largest telecom operator, which has a presence in Ghana and Benin.

How Adenuga Made his Fortunes

  • Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production.
  • His mobile phone network, Globacom, is the third-largest operator in Nigeria, with 55 million subscribers.
  • His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta.
  • Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver.
  • He made his first million at age 26 selling lace and distributing soft drinks.

Networth: $6.3 B

Age: 67

Source of wealth: telecom, oil

6. Abdulsamad Rabiu

Abdulsamad-Rabiu african billionaires

Abdul Samad Isyaku Rabiu CON is a Nigerian billionaire businessman and philanthropist. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s.

How Rabiu Made his Fortunes

  • Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining, and real estate.
  • In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled.
  • The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.5% of it.
  • Rabiu, the son of a businessman, inherited land from his father.
  • He set up his own business in 1988 importing iron, steel, and chemicals.

Networth: $5.5 B

Age: 60

Source of wealth: cement, sugar

7. Issad Rebrab

Issad Rebrab president african billionaire

Issad Rebrab, is an Algerian billionaire businessman, CEO of the Cevital industrial group, the largest private company in Algeria, active in steel, food, agribusiness, and electronics. In 2019, he was sentenced to six months for tax, banking, and customs offenses. 

How Rebrab Made his Fortunes

  • Issad Rebrab is the founder and CEO of Cevital, Algeria’s biggest privately-held company.
  • Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year.
  • Cevital owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill, and a German water purification company.
  • After serving 8 months in jail on charges of corruption, Rebrab was released on January 1, 2020. He denies any wrongdoing.

Networth: $4.8 B

Age: 77

Source of wealth: food

8. Naguib Sawiris

Naguib Sawiris african billionaires business men rich people wealthy african

Naguib Onsi Sawiris is an Egyptian billionaire businessman. Sawiris is chairman of Weather Investments’s parent company and chairman and CEO of Orascom Telecom Holding.

How Sawiris Made his Fortunes

  • Naguib Sawiris is a scion of Egypt’s wealthiest family. His brother Nassef is also a billionaire.
  • He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction.
  • He’s chairman of Orascom TMT Investments, which has stakes as an asset manager in Egypt and Italian internet company Italiaonline, among others.
  • Through his Media Globe Holdings, Sawiris owns 88% of pan-European pay-TV and video news network Euronews.
  • He also developed a luxury resort called Silversands on the Caribbean island of Grenada.
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Networth: $3.2 B

Age: 66

Source of wealth: telecom

9. Patrice Motsepe

Patrice Motsepe business men at world economic forum

Patrice Tlhopane Motsepe is a South African mining billionaire businessman of Tswana descent. Since 12 March 2021, he has been serving as the President of the Confederation of African Football.

How Motsepe Made his Fortunes

  • Patrice Motsepe, the founder and chairman of African Rainbow Minerals, became a billionaire in 2008 – the first black African on the Forbes list.
  • In 2016, he launched a new private equity firm, African Rainbow Capital, focused on investing in Africa.
  • Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club.
  • In 1994, he became the first black partner at law firm Bowman Gilfillan in Johannesburg and then started a mining service contracting business.
  • In 1997, he bought low-producing gold mine shafts and later turned them profitable.

Networth: $3 B

Age: 59

Source of wealth: mining

10. Koos Bekker

Koos Bekker

Jacobus Petrus “Koos” Bekker is a South African billionaire businessman and the chairman of media group Naspers. The company operates in 130 countries and is listed on the London Stock Exchange and Johannesburg Stock Exchange.

How Bekker Made his Fortunes

  • Koos Bekker is revered for transforming South African newspaper publisher Naspers into an eCommerce investor and cable TV powerhouse.
  • He led Naspers to invest in Chinese Internet and media firm Tencent in 2001 — by far the most profitable of the bets he made on companies elsewhere.
  • In 2019, Naspers put some assets into two publicly-traded companies, entertainment firm MultiChoice Group and Prosus, which contains the Tencent stake
  • It sold a 2% stake in Tencent in March 2018, its first time reducing its holding, but stated at the time it would not sell again for 3 years.
  • Bekker, who retired as the CEO of Naspers in March 2014, returned as chairman in April 2015.

Networth: $2.8 B

Age: 68

Source of wealth: media, investments

11. Mohamed Mansour

Mohamed Mansour egyptian billionaire african

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

How Mansour Made his Fortunes

  • Mohamed Mansour oversees family conglomerate Mansour Group, which was founded by his father Loutfy (D.1976) in 1952 and has 60,000 employees.
  • Mansour established General Motors dealerships in Egypt in 1975, later becoming one of GM’s biggest distributors worldwide.
  • Mansour Group also has exclusive distribution rights for Caterpillar equipment in Egypt and seven other African countries.
  • He served as Egypt’s Minister of Transportation from 2006 to 2009 under the Hosni Mubarak regime.
  • His brothers Yasseen and Youssef, who share ownership in the family group, are also billionaires; his son Loutfy heads private equity arm Man Capital.

Networth: $2.5 B

Age: 73

Source of wealth: diversified

12. Aziz Akhannouch

Aziz Akhannouch

Aziz Akhannouch is a Moroccan businessman and current Minister of Agriculture since 2007.

How Akhannouch Made his Fortunes

  • Aziz Akhannouch is the majority owner of Akwa Group, a multibillion-dollar conglomerate founded by his father and a partner, Ahmed Wakrim, in 1932.
  • It has interests in petroleum, gas, and chemicals through publicly traded Afriquia Gaz and Maghreb Oxygene.
  • Akhannouch is Morocco’s Minister of Agriculture and Fisheries and the president of a royalist political party.

Networth: $2 B

Age: 60

Source of wealth: petroleum, diversified

13. Mohammed Dewji

Mohammed Dewji

Mohammed “Mo” Gulamabbas Dewji is a Tanzanian billionaire businessman and former politician. He is the owner of MeTL Group, a Tanzanian conglomerate founded by his father in the 1970s.

How Dewji Made his Fortunes

  • Mohammed Dewji is the CEO of METL, a Tanzanian conglomerate founded by his father in the 1970s.
  • METL is active in textile manufacturing, flour milling, beverages, and edible oils in eastern, southern, and central Africa.
  • METL operates in at least six African countries and has ambitions to expand to several more.
  • Dewji, Tanzania’s only billionaire, signed the Giving Pledge in 2016, promising to donate at least half his fortune to philanthropic causes.
  • Dewji was reportedly kidnapped at gunpoint in Dar es Salaam, Tanzania in October 2018 and released after nine days.

Networth: $1.6 B

Age: 45

Source of wealth: diversified

14. Youssef Mansour

Youssef Mansour

Youssef Mansour is an Egyptian billionaire businessman and part-owner of the Mansour Group.

How Youssef Mansour Made his Fortunes

  • Youssef Mansour is chairman of the family-owned conglomerate Mansour Group, which was founded by his father Loutfy (d.1976) in 1952.
  • Mansour Group is the exclusive distributor of GM vehicles and Caterpillar equipment in Egypt and several other countries.
  • He oversees the consumer goods division, which includes supermarket chain Metro, and sole distribution rights for L’Oreal in Egypt.
  • Younger brothers Mohamed and Yasseen are also billionaires and part owners of Mansour Group.
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Networth: $1.5 B

Age: 75

Source of wealth: diversified

15. Othman Benjelloun

Othman Benjelloun

Benjelloun’s father was a large shareholder in an insurance company. In 1988, Othman later took over the company and turned it into RMA Watanya.

After purchasing the insurance company, Benjelloun expanded the business venture into the banking industry.

Benjelloun’s banking enterprise, the BMCE Bank has its presence in at least 12 countries in Africa after it purchased the Mali-based Bank of Africa.

How Benjelloun Made his Fortunes

  • Othman Benjelloun is CEO of BMCE Bank of Africa, which has a presence in more than 20 African countries.
  • His father was a shareholder in RMA, a Moroccan insurance company; Benjelloun built it into a leading insurer.
  • Through his holding company FinanceCom, he has a stake in the Moroccan arm of French telecom firm Orange.
  • He inaugurated in 2014 a $500 million plan to build the 55-story Mohammed VI Tower in Rabat. It will be one of the tallest buildings in Africa.
  • FinanceCom is part of a project to develop a multibillion-dollar tech city in Tangiers that is expected to host 200 Chinese companies.

Networth: $1.3 B

Age: 88

Source of wealth: banking, insurance

16. Michiel Le Roux

Michiel Le Roux

Michiel Le Roux is a South African entrepreneur and founder of Capitec Bank where he has an 11% stake.

The bank was founded in 2001 and has been listed in and trades on the Johannesburg Stock Exchange.

How Le Roux Made his Fortunes

  • Michiel Le Roux of South Africa founded Capitec Bank in 2001 and owns about an 11% stake.
  • The bank, which trades on the Johannesburg Stock Exchange, targets South Africa’s emerging middle class.
  • He served as chairman of the board of Capitec from 2007 to 2016 and has continued on as a board member.
  • Le Roux previously ran Boland Bank, a small regional bank in Cape Town’s hinterland.

Networth: $1.2 B

Age: 71

Source of wealth: banking

17. Strive Masiyiwa

Strive Masiyiwa

Strive Masiyiwa is a London-based Zimbabwean businessman and philanthropist. Strive is the founder and executive chairman of the international technology group Econet Global.

How Strive Masiyiwa Made his Fortunes

  • Strive Masiyiwa overcame protracted government opposition to launch mobile phone network Econet Wireless Zimbabwe in his country of birth in 1998.
  • He owns just over 50% of the publicly-traded Econet Wireless Zimbabwe, which is one part of his larger Econet Group.
  • Strive Masiyiwa in addition owns over half of the Liquid Telecom, which provides fiber optic and satellite services to telecom firms across Africa.
  • His other assets include stakes in mobile phone networks in Burundi and Lesotho and investments in fintech and power distribution firms in Africa.
  • He and his wife Tsitsi founded the Higherlife Foundation, which supports orphaned and poor children in Zimbabwe, South Africa, Burundi, and Lesotho.

Networth: $1.2 B

Age: 60

Source of wealth: Telecom

18. Yasseen Mansour

Yasseen Mansour net worth

Yasseen Mansour is an Egyptian billionaire businessman, part-owner of the Mansour Group, and chairman of Palm Hills Developments, one of Egypt’s largest real estate developers.

How Yasseen Mansour Made his Fortunes

  • Yasseen Mansour is a shareholder in family-owned conglomerate Mansour Group, which was founded by his father Loutfy (d.1976) in 1952.
  • Mansour Group is the exclusive distributor of GM vehicles and Caterpillar equipment in Egypt and several other countries.
  • His brothers Mohamed and Youssef are also billionaires and part owners of Mansour Group.
  • He’s chairman of Palm Hills Developments, one of Egypt’s biggest real estate developers.

Networth: $1.1 B

Age: 59

Source of wealth: diversified

Full List: Africa’s Billionaires

  1. Aliko Dangote
  2. Nassef Sawiris
  3. Nicky Oppenheimer
  4. Johann Rupert
  5. Mike Adenuga
  6. Abdulsamad Rabiu
  7. Issad Rebrab
  8. Naguib Sawiris
  9. Patrice Motsepe
  10. Koos Bekker
  11. Mohamed Mansour
  12. Aziz Akhannouch
  13. Mohammed Dewji
  14. Youssef Mansour
  15. Othman Benjelloun
  16. Michiel Le Roux
  17. Strive Masiyiwa
  18. Yasseen Mansour

Conclusion

Becoming rich is less of what you do than how you do it. The richest people in Africa have shown this due to the fact that they belong to different industries and yet have been able to build wealth for themselves with the vast majority being of them being self-made. 

Another key takeaway is that they all own something or own a lot of things. Their presence in the investing field is reflective of their net worth.

The third takeaway is that, whether you were born rich or not, you too, can make it.

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Author

My name is Enoch Weguri Kabange, I am the CEO & Founder of WordInspired Media. I am a dream chaser who has gained a wealth of knowledge in entrepreneurship and personal development over the past years through self-education. My mission is to inspire millions of people to become entrepreneurs by motivating them to their greatness that resides within them.

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