Who are the top 10 African Billionaires? Africa is the second-largest continent in the world not only in size but also in population. They are ranked behind Asia. The continent is blessed with rich human and natural resources, minerals, and land for agriculture.
This continent has over 2500 different languages and also She has the youngest average population in the world with a median age of 19.7. Given its resources, it is believed that Africa should be one of the richest continents in the world but it isn’t.
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Nevertheless, we have lots of successful Africans recognized globally as very successful not just in their countries or in the continent but in the world at large. Below is the list of the top 10 richest Africans as ranked in the Forbes list March 2020.
#1 ALIKO DANGOTE, $10.1 billion
A Nigerian with a net worth of $10.1billion. The founder of Dangote groups and the only African to make the list of top 100 richest people in the world. The 62year billionaire is the 100th richest man in the world, he is a businessman who didn’t get his wealth either from oil or gas.
Founder of Dangote groups who produces flour, sugar, cement, salt, and so on. His cement factory produces over 40million metric tons of cement per year.
The Kano born investor has employed over 11,000 employees and has the largest conglomerate in West Africa and has also gotten the honour of the leading provider of employment in the Nigerian construction industry.
Dangote group is also embarking to expand on a more ambitious project which is the private refinery. He is married with 15 children.
Dangote is the number one on the top 10 African billionaires list.
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#2 NASSEF SAWIRIS, $8 Billion
An Egyptian with a net worth of $8billion. Aged 58years. Onsi Sawiri’s youngest son amongst three sons. He was part of the board of directors of the Cairo and Alexandria Stock Exchanges from 2004 to 2007, then he became a Board of Director at the Dubai International Financial Exchange (DIFX) in the year 2008 to 2010.
His net worth increased from $6.3 billion in 2019 to $8 billion in 2020 making him the second richest African billionaire in the world.
#3 MIKE ADENUGA, $7.7 billion
Another Nigerian to make the list is Mike Adenuga, the owner of Globalcom Telecommunication Network with a net worth of $7.7billion, down from his previous networth in 2019 at $9.2 billion. Currently, he is the third world’s richest African. He is aged 66 years.
His Telecomm network can be found in Ghana and the Republic of Benin and also holds a high stake in Conoil which is an oil exploration firm. Conoil was one of the Nigerian companies to have a license in exploring oil. As of 2009, he was detained for fraud by the Economic and Financial Crime Commission(EFCC) but was pardoned by the Yar’adua led administration.
#4 NICKY OPPENHEIMER, $7.7 billion
A South African philanthropist with a net worth of $7.7billion. Ranking 202nd in the world, he is the richest in South Africa. The 74year old is a successful businessman. His family can be said to have contributed to his wealth, they ran the famous DIAMOND COMPANY DEBEERS and were formerly the chairman.
He sold his shares in this firm which was worth $5billion. He was also the former deputy chairman of ANGLO AMERICAN when they bought his stake from DEBEERS groups.
#5 JOHANN RUPERT, $6.5 billion
Another South African to make the list with a net worth of $6.5 billion. He is the 228th richest in the world. Aged 69years. The eldest son of Anton Rupert who was also a business tycoon, Johann is the chairman of both a swiss based company and a South African company.
He was a man that loves to study how society uses the resources available to them that he was awarded an Honorary Doctorate in Economics in 2004.
#6 ISSAD REBRAB, $4.4 billion
The only Algerian to make the list with a net worth of $4.4 billion. He is aged 75years. He is the CEO of Cevital industrial group which can be said to be the largest private company in Algeria and it deals in steel, electronics, food e.t.c.
A man with great vision that one of the major quotes that have kept him striving for the peak is ‘’Think Big, Start Small and Move Fast’’. He received accolades for the tremendous work done in Algeria and beyond by the Tuscany region as the CEO of the year at the Africa CEO Forum in 2015.
#7 MOHAMMED MANSOUR, $3.3 billion
The third Egyptian on this list with a net worth of $3.3billion. Aged 71. The CEO of the Mansour groups which is a multinational conglomerate and the largest general motors dealer in the world which has employed over 60,000 people.
The Mansour Groups deals in automobiles, information technology, tourism, energy, food, shipping, defense, retail, finance, consumer durables e.t.c
#8 ABDULSAMAD RABIU, $3.1 billion
A Nigerian and founder of BUA Group, Rabiu makes his wealth from cement, sugar, oil, flour, and iron mostly. He is a Nigerian businessman and the chairman of the Nigerian Bank of Industry (BOI). He is 69 years old.
His company has many subsidiaries which include the BUA Oils, BUA Sugar, BUA Estates, BUA Cements, and BUA Ports, and Terminals.
#9 NAGUIB SAWIRIS, $3 billion
An Egyptian and the brother to the third richest man in Africa with a net worth of $3 billion. Aged 65years. The elder brother of Naseef is ranked 9th on the list. He is the chairman of Weather Investments and Orascom telecom media.
Mr. Naguib is currently the chairman of Gemini Development BV and the chief executive officer for CHEO Technology Joint Venture Co. He also has shares in 14 other companies.
#10 PATRICE MOTSEPE, $2.6 billion
The chairman and founder of African Rainbow Minerals, Patrice Motsepe made the list of the top 10 African billionaires in the world. He is 57 years old with a net worth of $2.6 billion in 2020.
His major wealth is from his mining company, African Rainbow Minerals but now he is diversifying into other ventures such as the African Rainbow Capital, a privately-owned equity firm, Mamelodi Sundowns Football Club which he is the owner and president and a stakeholder in Sanlam, a financial services firm.
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In summary, the top 10 African billionaires for 2020 are: