Although Africa as a continent has a GDP less than that of Texas(FACT CHECK) and most other Western countries, there are some wealthy individuals and families in Africa. This list compiled by Forbes provides an insight into the wealth of some of the richest people in Africa.
#1 Aliko Dangote Net-worth $12.2B
Aliko Dangote is Nigeria and Africa’s richest man with as estimated networth of $12.2B according to Forbes. The 61 year old owns and chairs the continent’s largest cement manufacturing company, Dangote Cement. As the CEO of Dangote Group, he has diversified his investments into salt production, sugar refining, flour milling, port operations, packaging materials, technology, transportation plus many more.
The Dangote Group business focus is on meeting the basic needs of Nigeria’s growing population. While Dangote is a self-made billionaire, his sound business practises are responsible for his growing wealth.
He gives back to the community through the Aliko Dangote Foundation.
The focus of the foundation’s mission statement is,”…to reduce the number of lives lost to malnutrition and disease. Combating Severe Acute Malnutrition (SAM) in children, is at the core of our programming. Improving the outcome of children’s lives, forms the basis for the work the Foundation is engaged in, using our investments in health, education, and economic empowerment to help lift people out of poverty.”
#2 Nicky Oppenheimer Net-worth $7.7B
Nicky Oppenheimer is a third generation African whose grandfather made his diamond fortunes by purchasing a stake in De Beers Group. After selling his position in De Beers (now an Anglo American Company )in 2012 for a reported $5.1B, he now owns 1% of Anglo American. He is also South Africa’s richest man.
His current business interests now include private equity investments in Africa, Asia, the U.S. and Europe through two entities, London-based Stockdale Street and Johannesburg-based Tana Africa Capital.
Oppenheimer is a cash-rich billionaire although he has diversified his wealth into a variety of investments. Bloomberg place his fortune closer to $7.4B.
#3 Johann Rupert Net-worth $7.2B
#4 Nassef Sawiris Net-worth $6.8B
Coming from a wealthy family (his father and brother are billionaires), he heads Orascom Construction Industries which he split into two companies in 2015, OCI and Orascom Construction.
OCI is a nitrogen fertilizer manufacturer, one of the largest in the world and islisted on the Euronext Amsterdam Exchange. OCI has manufacturing plants across the world,including Texas and Iowa.
Orascom Construction is a building and engineering company with listings on the Cairo Exchange and Nasdaq Dubai.
Sawiris also has significant holdingsin Lafarge Holcim and Adidas. He is married with four children.
#5 Mike Adenuga Networth $5.3B
A self-made millionaire, his earlier fortunes came from soft drinks distribution and selling lace.
In 1991, his drilling company, Consolidated Oil (now Conoil Producing Limited) struck oil, becoming the first indigenous company to achieve that feat. Conoil operates 6 blocks in the Niger Delta.
Globacom, the mobile phone network he launched in 1999 is the second largest in Nigeria, with nearly 37 million subscribers in Nigeria and across West Africa (Ghana and Benin).
Adenuga holds an MBA from Pace University, New York and supported himself by working as a taxi driver.
#6 Issad Rebrab Net-worth $4.0B
Issad Rebrab is a 74 year old CEO of Cevital, the largest privately-held company in Algeria. He is also Algeria’s first billionaire with an empire spanning food and agriculture,including one of the world’s largest sugar refineries (with a capacity of 2 million tonnes per year).
As well as operating in Algeria and Africa, Cevital has been on a shopping spree in Europe. Recent acquisitions include France’s Groupe Brandt, a steel mill in Italy and a home appliance maker in France.
Investments in a Brazillian steel mill which produces train tracks is instrumental in improving transportation and freight logistics for corn, sugar and flour exports.
He has five children who all work for Cevital.
#6 Naguib Sawiris Net-worth $4.0B
The Sawiris family is Egypt’s wealthiest family and Naguib is the oldest of three brothers. He joined the family business, Orascom, before his father split the business in the early 90s. The third richest man in Egypt and the 10th in Africa, Naguib owns investments in technology and communications companies.
Orascom Telecom was sold to Russian telecom company VimpelCom (now Veon) in 2011 in a stock and cash transaction. In 2017 he stepped down as CEO of Orascom Telecom Media & Technology (OTMT). OTMT has investments in media and technology enterprises in Egypt, Lebanon and Pakistan. The company also owns Koryolink, North Korea’s 3G mobile telecom company.
He owns a 20% stake in Evolution Mining, an Australia-listed gold miner. His investments also include 20% of Endeavour Mining (Toronto-listed) and operating mines in West Africa.
#8 Koos Bekker Net-worth $2.8B
#9 Isabel dos Santos Net-worth $2.7B
The only woman to make the top ten list of the richest people in Africa, albeit under a veil of controversy. Isabel dos Santos is the daughter of Angola’s long-serving,now retired president, Eduardo dos Santos.
The source of the bulk of her fortunes came from her role as head of the Angolan national oil company, Sonangol, a position she no longer holds. Investments in banking and telecoms also contribute to her wealth, including holdings in Portuguese companies such as telecom and cable TV firm Nos SGPS
While the source of her wealth may be controversial in some circles, her sound investments have contributed to the growth in her fortunes.
She is married with 3 children and lives in Angola. She makes it into the top 10 the richest people in Africa, a list with very few women on it.
#9 Mohamed Mansour Net-worth $2.7B
Mohamed Mansour is the head of the Mansour Group. The company was formed by his late father, Loutfy Mansour and left to Mohamed and his siblings after their father’s passing.
The Mansour Group is a diversified business with interests in different market segments from automotive, food manufacturing, retail, Investment Banking, and Infrastructure.
He established General Motors distributorships in Egypt, one of the largest dealership networks in the world. Exclusive distributorship agreements with the likes of Caterpillar and Phillip Morris (tobacco) appear to be a trademark business style for the Mansour family.
Mohamed Mansour also ventured into politics and served a stint as Minister of Transport under Hosni Mubarak’s tenure as president.
Today, the Mansour Group operates in over 100 countries, owns 60 global brands, and has an annual revenue of more than $6 billion.