Aliko Dangote, president of Dangote Group, remains the richest person in Africa, with a net worth of $13.9 billion, according to Forbes’ 2024 list of Africa’s Richest billionaires.
Dr. Mike Adenuga, Chairman of Globalcom, and Abdul Samad Rabiu of BUA Group, with net worths of $6.9 billion and $5.9 billion, respectively, follow closely behind him.
Dangote’s ally, Femi Otedola, Chairman of Geregu Power Plc, is among Africa’s top 20 richest people.
Otedola last appeared on the Forbes Africa list in 2017, when he owned a majority share in Forte Oil.
According to Forbes, the fortunes of Africa’s wealthiest people have improved marginally over the last year, reversing a year-long drop.
Forbes stated of Otedola, “Otedola phased out his oil investments during a government push to privatize the country’s energy business in 2013, using a Forte subsidiary to purchase Geregu, a public power generation plant.”
“He owned almost 90% of Geregu when it was placed on the Nigerian exchange’s Main Board in 2022, but has since sold shares to institutional investors, including Afreximbank’s Fund for Export Development in Africa and the State Grid Corporation of China.
“His 73% interest in Geregu is worth more than $850 million, or almost three-quarters of his $1.1 billion wealth, placing him at No. 20 on the list.
“After accounting for Otedola’s return, Africa’s billionaires fell slightly, but still outperformed last year’s 4% loss, when African markets sank in tandem with global asset values.
“This year, African equities joined a late-year global rally, with the S&P All Africa index rising 10 per cent in the final two months of 2023 but still ended down more than 9% in the 12 months through January 8, 2024,” the publication said.
Below is the list of the top 20 richest billionaires in Africa
- Aliko Dangote – $13.9 billion
- Johann Rupert & family – $10.1 billion
- Nicky Oppenheimer & family – $9.4 billion
- Nassef Sawiris – $8.7 billion
- Mike Adenuga – $6.9 billion
- Abdulsamad Rabiu – $5.9 billion
- Naguib Sawiris -$3.8 billion
- Mohammed Mansour – $3.2 billion
- Roos Bekker – $2.7 billion
- Patrice Motsepe – $2.7 billion
- Issad Rebrab & family – $2.5 billion
- Mohammed Dewji – $1.8 billion
- Strive Masiyiwa – $1.8 billion
- Aziz Akhannouch & family – $1.7 billion
- Othman Benjelloun & family – $1.4 billion
- Youseff Mansour – $1.3 billion
- Yassen Mansour – $1.2 billion
- Christoffel Wiese – $1.2 billion
- Michiel Le Roux – $1.1 billion
- Femi Otedola – $1.1 billion