Nigeria’s Aliko Dangote retained his place as the richest man in Africa on the newly released Forbes’ list of African billionaires.
He, however, lost almost $2bn compared to his last year’s worth. Dangote’s estimated $10.3 billion net worth is nearly $2 billion less than a year ago.
The continent’s second richest is Mike Adenuga, also of Nigeria, worth an estimated $9.2 billion.
Adenuga owns Globacom, which is Nigeria’s third-largest mobile phone network, plus oil exploration firm Conoil Producing, extensive real estate holdings in Nigeria and a network of 12,000 cellphone towers.
His net worth has climbed dramatically from $5.3 billion in January 2018 as a result of more detailed information provided by him about his assets.
In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco with two.
Nigerian cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group, returns to the list for the first time since 2015.
He merged his Kalambaina Cement firm into publicly traded Cement Company of Northern Nigeria, which he controlled, in late 2018. Rabiu now owns 97% of the list entity.
Kalambaina, which operates a new cement production facility, started selling cement in mid-2018. Separately, Rabiu’s OBU Cement recently expanded its operations, adding a new production line.
Nigeria’s Alakija owns a stake in one of the most productive oil fields in Nigeria, currently operated by Chevron. Her net worth dropped due a decline in the value of the oil field, in part because its production has leveled off.
Altogether the 20 African tycoons are worth $68.7 billion, down from $75.4 billion for last year’s list. However, the average net worth for each list member this year has climbed to $3.4 billion from $3.3 billion in early 2018.
Here are the richest Africa’s Billionaires
1. Aliko Dangote – $12.2 billion net worth
2. Nicky Oppenheimer – $7.7 billion net worth
3. Johann Rupert – $7.2 billion net worth
Nassef Sawiris – $6.8 billion net worth
Mike Adenuga – $5.3 billion net worth
6. Naguib Sawaris – $4 billion net worth
7. Issad Regrab – $4 billion net worth
8. Koos Becker – $2.8 billion net worth
9. Mohamed Mansour – $2.7 billion net worth
10. Patrice Motsepe – $2.4 billion net worth
11. Aziz Akhannouch – $2.2 billion net worth
12. Yasseen Mansour – $1.9 billion net worth
13. Strive Masiyiwa – $1.7 billion net worth
14. Othman Benjelloun – $1.6 billion net worth
15. Mohammed Dewji – $1.5 billion net worth
16. Youssef Mansour – $1.4 billion net worth
17. Stephen Saad – $1.2 billion net worth
18. Michiel Le Roux – $1.2 billion net worth
19. Onsi Sawiris – $1.2 billion net worth
20. Desmond Sacco – $1.1 billion net worth
21. Christoeffel Wiese – $1.1 billion net worth