Who are the richest politicians in Africa? Politicians are among the wealthiest people all over the world; it appears that politics is the domain of the wealthy and powerful. This perhaps, is more evident in Africa, where money, wealth, and fame, rather than ideology or political discourse, determine the success of a person’s political career.
Politics is a lucrative business in Africa, and it frequently goes hand in hand with control of the country’s wealth and the charge of determining the country’s political and social policies, which necessitates a great deal of lobbying, which cannot be done without the presence of money.
In this article, we will be taking a look at the top ten richest politicians in Africa.
Top 10 Richest Politicians In Africa
10. Raila Odinga – $500 million
Ralia Odinga is one of the top ten richest politicians in Africa. At spot number ten, we have a former president of Kenya, Ralia Odinga whose net worth sits at a pretty impressive USD500 million which also happens to make him one of the wealthiest people in Kenya.
Odinga, along with his father, is regarded as one of the driving forces behind Kenya’s democratization process, particularly during President Daniel Arap Moi’s repressive regime (1978–2002) and the run-up to the adoption of the new Constitution (2010), which reaffirmed many previously neglected fundamental rights.
His political clout has given him a front-row seat in the running of Kenya’s governments, and he is widely regarded as one of the most enduring figures on the Kenyan political scene.
Of course, his influence has brought him wealth; he is frequently consulted by those seeking advancement in their political careers. Raila makes the decisions like a boss, and even when they said he wouldn’t be able to penetrate the current government, he released a photo with the president, demonstrating that he is still the go-to man for lobbyists and junior politicians.
Raila Odinga is involved in the oil and gas industry, as well as manufacturing, logistics, and real estate.
9. Cyril Ramaphosa – $700 million
A lover of fast cars, vintage wine, trout fishing, game farming, and at the ninth position today, South Africa’s President Cyril Ramaphosa is one of the country’s wealthiest politicians with a net worth of about USD700 million.
During the Marikana Massacre, he held a high position at the Lonmin mine but was eventually cleared of any wrongdoing. He has investments in real estate as well as other areas of the South African economy. He is rumoured to be worth at least $700 million, making him arguably South Africa’s richest politician.
8. Kashim Shettima – $1.1 Billion
Kashim Ibrahim Shettima is a former governor of Borno state and a current Senator of the Federal Republic of Nigeria. Before becoming governor, he served as Commissioner in five Ministries from 2007 to 2011.
According to the Federal Bureau of Investigation’s list of the “Top Ten Richest Politicians in Nigeria,” Kashim Ibrahim has 1.1 billion dollars stashed in a Wells Fargo bank in San Francisco, California, USA. This cannot be his true worth; because he definitely owns property in Nigeria and outside the country.
7. Rabiu Kwakwanso – USD 1.15 Billion
Dr. Rabi’u Musa Kwankwaso is Africa’s seventh-richest politician. He was Kano State’s governor from 1999 to 2003, and again from 2011 to 2015. In 2015, he was elected to the Senate of the Federal Republic of Nigeria on the platform of the All Progressives Congress, APC. He is a senator from Kano’s central senatorial district.
According to the same FBI document,” he has USD 1.15 billion dollars stashed in the American Express Bank in New York.
6. Rochas Okorocha – $1.4 billion
Rochas Okorocha is the sixth richest politician in Africa. Owelle Rochas Anayo Okorocha is an Imo State-born Nigerian politician of Igbo descent. He is currently the Senator for Imo West Senatorial District in Nigeria’s 9th Senate and our sixth position holder for today.
He is a divisive figure; his successor, Right Honorable Emeka Ihedioha, accused him of converting government properties into private ownership. He was also found in possession of a university (Eastern Palm University), which was allegedly built with government funds but later declared to be a private establishment owned by him.
There are also rumours of a secondary school, a hotel, and a hospital being built with government funds but later declared as Rochas-owned private ventures.
5. Uhuru Kenyatta – $1.65 billion
Uhuru Muigai Kenyatta is a Kenyan politician who has served as the fourth President of Kenya since 2013. Even though he is only worth about USD500 million, we must remember who he is: Uhuru Kenyatta is the fourth son of Kenya’s first President, Jomo Kenyatta, and his mother, Mama Ngina, is the head of the Sh142 billion Kenyatta Development Trust (USD1.65 billion).
Uhuru, Mama Ngina’s youngest son, has been instrumental in managing his family’s wealth and is a key decision-maker in the family empire, which spans banking, hospitality, and real estate.
The family is truly Kenya’s first family, as they are enormously influential in politics. Mama Kenyatta is like a political matriarch, and people jostle to align themselves with her and her family, both in business and in politics.
4. Bola Tinubu – $2 Billion
Asiwaju Bola Ahmed Tinubu, the Jagaban of the Borgu Kingdom, popularly known simply as “Tinubu”, the Godfather of Lagos State which is the commercial capital of Lagos State, Nigeria. is a brilliant political strategist.
He is currently thought to be Nigeria’s wealthiest politician. He is the national leader of the ruling All Progressives Congress (APC) and a two-term Executive former Governor of Lagos State. Since his governorship ended, he has hand-picked the governors who have succeeded him and has even removed those who have failed to meet his expectations.
Asiwaju Bola Ahmed Tinubu has also amassed a sizable commercial empire, with holdings in hospitality, tax collection, waste management, publishing, entertainment, finance, and other fields. His fortune is estimated to be worth at least $2 billion USD.
3. Mohammed VI – $2.1 Billion
Mohammed VI (Arabic; born August 21, 1963) is the King of Morocco. He is a member of the Alaouite dynasty and ascended to the throne on July 23, 1999, following the death of his father, King Hassan II. Upon ascending to the throne, Mohammed instituted a number of reforms and changed the Mudawana family code, which gave women more power.
His Majesty is an obscenely wealthy man. He inherited a vast financial empire spanning not only Morocco but several economies. His assets include those left to him by his late father, King Hassan. King Mohammed inherited a 35% stake in Societe Nationale d’Investissement, a financial holding company (SNI).
He owns stock in several publicly traded companies, including Morocco’s largest bank, Attijariwafa, through this company.
Mohammed VI also owns a stake in Managem Group, a mining company, and Cosumar, a sugar producer. The King also owns a stake in Centrale Danone, a dairy company. He is currently estimated to be worth $2.1 billion, but in 2015 he was estimated to be worth up to $5.5 billion.
2. Olusegun Obasanjo – $4 Billion
In second place today is Hon. Olusegun Obasanjo. Olusegun Obasanjo is a former military head of the state of Nigeria, a two-term president of Nigeria, and one of Nigeria’s and Africa’s most energetic and influential statesmen.
However, his wealth has frequently been a source of contention for such a respected political figure. Olusegun Obasanjo is rumoured to be one of Nigeria’s wealthiest citizens, with interests ranging from agriculture to hospitality to communications.
Chief Olusegun Obasanjo remains Nigeria’s most powerful politician, and his voice is still heard throughout Africa. He lives on a farm in Otta, Ogun State, Nigeria, and his net worth is estimated to be around $4 billion.
And for our number one spot on the list…
1. Ibrahim Badamasi Babangida – $5 Billion
Ibrahim Babangida is the richest politician in Africa. He is also Nigeria’s richest politician. Ibrahim Badamasi Babangida GCFR is a retired Nigerian Army general and politician who was born on August 17, 1941. He was Nigeria’s military president from 1985 until his resignation in 1993.
He rose through the ranks to become Chief of Army Staff from 1984 to 1985 before orchestrating his takeover of power in a palace coup d’ètat against Muhammadu Buhari.
General Ibrahim Badamasi Babangida is perhaps Nigeria’s most well-known political figure. He served as Nigeria’s president from 1985 until his resignation in 1993. Since then, he has emerged as one of the most powerful underground political figures. IBB, as he is known, is rumoured to be ridiculously wealthy, despite the fact that he has frequently come out to refute those claims.
However, public information indicates that he owns more than half of Fruitex, a London-based company, and nearly a quarter of Globacom, Nigeria’s third-largest mobile communications company with a presence in several African countries. According to reports, he is worth at least $5 billion.
As you can see from the list of Africa’s wealthiest politicians, there is a great need for regulation of how much money African politicians are allowed to make. This will help to ensure that they continue to be public servants, defending the interests of the people who elected them.
Furthermore, only a reasonable percentage of the country’s annual income will be spent on the upkeep of the political class.