TOP 20 RICHEST MEN IN AFRICA

Africa is endowed with so many resources including natural and human potentials to harness the available resources. In as much as the continent is still lagging behind when it comes to technology, it is possible that in the future, the richest people in the world may come from Africa. In the recent years, we have seen Africans rapidly climb up the wealth ladder. A good example is Aliko Dangote who was worth about $11.2 billion as of March 2013, who after a period of one year (April 2014) was worth $16.1 billion, Aliko Dangote is currently worth over $20 billion dollars as at the time of this writing. You should note that the list of wealthiest men in Africa keeps changing since wealth is not tied down to any particular person, so who are the richest people in Africa? this rich list is full of people who have distinguished themselves in various businesses, the movers and shakers of Africa’s businesses. I bring to you the richest men in africa.

Richest Men in Africa

20. Theophilus Danjuma

Net Worth: $1.1 Billion (Forbes), $1.8 Billion (Ventures Africa)

iIndustry: Oil & Gas

Rtd General Theophilus Yakubu Danjuma GCON FSS psc is a retired Nigerian soldier, politician, billionaire businessman and philanthropist who was born in Takum, Nigeria on 9th December 1938. The billionaire started off as a soldier having served in the Nigerian Army. He also ventured into politics where he served as a Minister of Defense under President Olesegun Obasanjo. Mr. Danjuma is the chairman of SAPETRO (South Atlantic Petroleum), a Nigerian upstream oil and gas exploration and production company. According to Forbes, his net worth has risen since last year due to more detailed information about SAPETRO’s assets.

19. Miloud Chaabi & family

 

 Net Worth: $1.3 Billion (Forbes),

Industry: diversified, Self Made

Miloud Chaabi is a Moroccan businessman and politician with a net worth of $1.3 billion. He is the founder of Ynna Holding and the owner of the Riad Mogador hotel chain and group of supermarkets “Aswak Assalam” in Morocco. Miloud Chaabi’s Ynna Holding develops real estate, operates hotels and supermarkets, and is the majority owner of SNEP, a chemical manufacturer in Morocco

18. Aziz Akhannouch & family

Net Worth: $1.8 Billion (Forbes),

Industry: Petroleum, Diversified

Aziz Akhannouch is a Moroccan businessman and the country’s current Minister of Agriculture in Abdelilah Benkirane’s cabinet. He is the majority owner of Akwa Group, a multibillion-dollar Moroccan conglomerate with interests in petroleum, gas and chemicals through its publicly-traded subsidiaries Afriquia Gas and Maghreb Oxygene. It also has businesses operating in media, real estate development and hotels. Forbes estimates his net worth as $1.8 billion as of April 2015

 

17. Onsi Sawiris

Net Worth: $1.9 Billion (Forbes),

Industry: Construction, Telecom, Self Made

Onsi Sawiris is the patriarch of Egypt’s wealthiest family and founder of Orascom Construction Industries. Following the Egyptian political uprisings in 2011, his son Nassef, who heads the company, moved its listing to Euronext in Amsterdam. Onsi Sawiris still owns nearly a quarter of OCI. With a net worth estimated at $1.9 billion, Sawiris made the majority of the family’s wealth from construction and telecoms, though the empire now stretches to tourism and media.

 

16. Stephen Saad

Net Worth: $1.9 Billion (Forbes),

Industry: Pharmaceuticals, Self Made

Stephen Saad is the founder of Aspen Pharmacare, the largest pharmaceutical maker in Africa. The company, which sells generic medicines in 150 countries, expanded its global footprint with a slew of acquisitions in 2013; it saw its revenue grow by 53% in the year through June 2014 to $2.7 billion. Saad became a millionaire at age 29 after he sold his share in the drug business Covan Zurich for $3 million. He has been an Executive Director of Aspen Pharmacare Holdings Limited since January 1999, a CA from South Africa Institute of CAs and holds a B.Com through the University of Natal in South Africa.

 

15. Koos Bekker

Net Worth: $2.0 Billion (Forbes),

Industry: Media, Internet, Investments, Self Made

Jacobus Petrus “Koos” Bekker is the billionaire Chairman designate of leading merging markets media group Naspers. The company operates in 130 countries and is listed on both the London and Johannesburg Stock Exchanges. He led the founding team of M-Net in 1985, which gave rise to pay TV operations today spanning 48 countries in Africa. In the early 1990’s when MTN was launched together with partners. Koos served as CEO of the MIH group until 1997, when he took over at Naspers. Since then the group moved strongly into the internet. The South African media tycoon stepped down as CEO of media conglomerate Naspers in February 2014 after running the Cape Town-based company since 1997. As of April 2015 he will chair the Naspers board.

 

14. King Mohammed VI

Net Worth: $2.1 Billion (Forbes),

Industry: Diversified

Mohammed VI is the current King of Morocco. He ascended to the throne on 23 July 1999 after the death of his father, King Hassan II. His birthday is a public holiday. From his father, the late King Hassan II, he inherited an estimated 40% stake in Societe Nationale d’Investissement (SNI), a large, formerly state-owned Moroccan investment company that has controlling stakes in the country’s largest bank, Attijariwafa, mining company Managem Group, sugar producer Cosumar, dairy firm Centrale Laitiere and a number of other assets.

 

13. Patrice Motsepe

Net Worth: $2.3 Billion (Forbes),

Industry: Mining, Self Made

Patrice Motsepe is one of the wealthiest men in Africa and the first and only South Africa’s black billionaire. He is regarded as a mining magnet and his company African Rainbow Minerals (ARM) has interests in platinum, nickel, chrome, iron, manganese, coal, copper and gold. He also owns shares in Harmony Gold, through his company ARM. Patrice Motsepe was born in Soweto and later trained as a lawyer. He is a self made African billionaire who started by buying low-producing gold mine shafts in 1994 and turned them profitable using a lean management style. He also holds a equity in Sanlam, another publicly traded financial services company outside the city of Cape Town. Some of his non “coporate” investments include the Mamelodi Sundowns Football Club where he is the president an owner. His net worth is $2.3bn according to Forbes

 

12. Yasseen Mansour

Net Worth: $2.3 Billion (Forbes),

Industry: Diversified, Self Made

Yasseen Mansour and his brothers Youssef and Mohammed (both billionaires) run Mansour Group, which owns Caterpillar dealerships in several African countries. The Egyptian businessman has an estimated net worth of $2.3 billion as of April 2015 according to Forbes. He is one of the major shareholders in Palm Hills Developments. Majority of his wealth is currently tied up in Mansour Group. The company has the the sole rights to General Motors dealerships in Egypt and Iraq, as well as supermarkets, all the McDonald’s in Egypt, and distribution of L’Oreal cosmetics in Egypt.

 

11. Othman Benjelloun

Net Worth: $2.4 Billion (Forbes),

Industry: Banking, Insurance

Moroccan businessman Othman Benjelloun has an estimated net worth of $2.4 billion as of April 2015 according to Forbes. Mr. Benjelloun’s estimated net worth of $2.4 billion came from his banking enterprise, the BMCE Bank or Banque Marocaine du Commerce Extérieur where he is currently the CEO. BMCE Bank is one of the country’s largest banks; it is active in 20 African countries, and its non-Moroccan operations contribute more than 40% of the bank’s net income. Last year, Benjelloun announced plans to build a rocket-shaped tower more than 30 stories high to house BMCE’s new headquarters.

10. Youssef Mansour

Net Worth: $2.9 Billion (Forbes)

Industry: Diversified, Self Made

Youssef Mansour keeps a lower profile than his two billionaire brothers Mohamed and Yasseen. Each sibling owns a stake in Mansour Group, a business conglomerate that gets the bulk of its value from its Caterpillar dealerships in Russia and a number of African countries. Youssef is responsible for the consumer goods division, which includes the largest supermarket chain in Egypt, the Metro supermarket chain, as well as tobacco brands, and McDonald’s restaurants in Egypt.

 

9. Naguib Sawiris

Net Worth: $3.0 Billion (Forbes)

Industry: Telecom

Naguib Sawiris is the eldest son of Egyptian billionaire Onsi Sawiris who established Orascom Group – Egypt’s largest private sector employer and the most capitalized on Cairo and Alexandria’s stock exchange. He is Egypt’s second richest man and one of the top 20 Africa’s richest men. He is known as one of Egypt’s telecoms mogul. He sold almost all his shares in Russian telecom giant VimpelCom, which had earlier acquired his company’s Sawiris’ Orascom Telecom in a cash and stock transaction in 2011. Naguib Sawiris started Orascom Telecom Media and Technology, a 20,000 employees company that also manages 11 GSM operators around the world. His company has more than  70% stake in Koryolink, North Korea’s only cell phone network. He recently bought a Canadian mining company La Mancha from French nuclear giant Areva for $317 million through his weather investment company. He joined politics in 2011 and has been a vocal opponent of the Muslim Brotherhood. Naguib Sawiris net worth is $3.0 billion dollars.

 

8. Issad Rebrab & family

Net Worth: $3.2 Billion (Forbes)

Industry: Telecom

Issad Regrab is an Algerian Businessman and Entrepreneur with an Estimated Net Worth of $3.2 Billion. The chairman of Algeria’s largest privately-owned conglomerate, Cevital is reportedly his country’s first ever billionaire according to Forbes. Most of his wealth is due to Cevital, which produces sugar, vegetable oil and margarine. He is also the Exclusive distributor in Algeria for Hyundai, Europcar and Samsung

 

7. Mohamed Mansour 

Net Worth: $4.0 Billion (Forbes)

Industry: Diversified, Self Made

Mohamed Mansour is one of the richest men in Africa with estimated net worth of $4.0bn. His company Mansour Group is rapidly expanding outside of Egypt. More than half of Mansour Group’s revenues now come from outside Egypt. His company’s operations span internationally across several major industrial sectors and can be summarized into five main business divisions: automotive, capital markets, consumer and retail, industrial equipment, and services. All these have positioned him as one of the richest men in Africa. Interests in Egypt include Philip Morris and McDonald’s franchises.The Mansours also own the largest supermarket chain, Metro, which recently received an offer from Emirati billionaire Majid Al Futtaim for up to $300 million.

 

6. Mike Adenuga 

Net Worth: $4.6 Billion (Forbes)

Industry: Telecom, Oil and Gas

Mike Adenuga is the second richest man in Nigeria with a net worth of $4.6 bn. He is a telecom giant who built a fortune in mobile telecom and oil production. Mike Adenuga is the founder and president of Glo, a mobile telecom company that has grown to become Nigeria’s second largest mobile telecom network.  he started as a cab driver and security guard in USA to fund his studies. He made his first million at age 26 selling lace and distributing Coca-Cola in Nigeria. However, he lost two telecom licenses and a bank, fled into exile and still went on to become one of the richest black men in the world. The company he founded, Conoil PLC is one of Nigeria’s largest independent exploration companies, with a production capacity of 100,000 barrels of oil per day. Adenuga made his first fortune at age 26 in the 1970s by distributing lace and other materials, but he hit it big during the military regime of former President Ibrahim Babangida. Adenuga is widely believed to be a proxy investor for former President Babangida.

Glo has an estimate of over 25 million subscribers (June 2009) and is a 100 percent Nigerian owned company with presence in the Republic of Benin and recently acquired licenses to start businesses in Ghana and the Ivory Coast. Glo  recently built an $800 million high-capacity fibre-optic cable known as Glo-1, a submarine cable from the United Kingdom to Nigeria.

 

5. Christoeffel Wiese 

Net Worth: $5.4 Billion (Forbes)

Industry: Retailing, Self Made

Christoeffel Wiese is South Africa’s third richest man and the 6th richest man in Africa. His net worth stands at $5.4 bn. The source of his wealth is retail, he is the chairman as well as the largest single shareholder of Africa’s biggest retailer store and low-priced supermarket chain Shoprite. He also has large stakes in Pepkor, a large discount wears, including clothes, shoes and textiles chain where he is executive chairman. Christoeffel Wiese also invests in other companies. He has significant stakes in seven publicly traded companies that have done so well in the last one year worth approximately $500 million more than they were about a year ago. Part of Christoeffel Wiese’s achievements is that he converted a South African farm estate into a five-star hotel, Lanzerac Manor & Winery, this helped to launch him into becoming a winery expert.

 

4. Nassef Sawiris

Net Worth: $6.1 Billion (Forbes)

Industry: Construction

Nassef Sawiris is the 4th richest man in Africa who runs Orascom Construction Industries which is Egypt’s most valuable publicly-traded company. He is into construction sector with a significant stake in cement company Lafarge. He oversaw the construction activities of Orascom since 1990. He was also a board member of NASDAQ Dubai from July 2008 – June 2010, he currently sits on the boards of Besix (Belgium) and NNS Holding (Luxembourg). He is worth $6.1 bn.

 

3. Nicky Oppenheimer 

Net Worth: $6.8 Billion (Forbes)

Industry: Diamonds

Nicky Oppenheimer, one of the richest men in South Africa with a net worth of $6.8 bn is a diamond magnet who made a pivotal decision in November 2011 to sell his family’s 40% stake in De Beers, the world’s largest diamond producer to Anglo American, which was founded by his grandfather, for $5.1billion. Anglo American before the deal already owned 45% of DeBeers while the remaining 15% is owned by the government of Botswana. Nicky Oppenheimer’s other interests apart from making money include flying helicopters, cricket and conservation. He owns the Tswalu Kalahari Reserve which is regarded as the largest private game reserve in South Africa.

 

2. Johann Rupert 

Net Worth: $7.3 Billion (Forbes)

Industry: Luxury Goods

Johann Rupert’s is the 2nd richest man in Africa. He is the chief of luxury goods outfit – Compagnie Financiere Richemont. His company’s stock has increased more than 50% on a per year basis. He also has stakes in investment holding companies Remgro and Reinet. He is an avid golfer with a net worth of $7.3 bn. He is the Chancellor of the University of Stellenbosch, with family relatives, he owns two of South Africa’s best known vineyards.

1. Aliko Dangote 

Net Worth: $21.6 Billion (Forbes)

Industry: Cement, Sugar, Flour, Self Made

The richest man in Africa is Aliko Dangote. He is also the world’s richest black man as at today. Dangote started increasing his fortune more than three decades ago when he started by trading in commodities like cement and conglomerates like flour and sugar with a loan he received from his maternal uncle. He eventually started production of these products and went on to build the Dangote Group, a company that has grown to become West Africa’s largest publicly-listed conglomerate company, which now owns sugar refineries, salt processing facilities, his Lagos-based company is Africa’s biggest cement manufacturer, it also makes enormously popular food products such as noodles, spaghetti and milk. Note that this list only features the richest men in Africa who made their wealth mostly through legitimate means.