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Forbes Reveals Its 2020 Ranking of African Billionaires – Aliko Dangote Maintains Top Spot (See the Top 20)

Forbes magazine recently revealed its 2020 year list of African billionaires. When summing up the fortunes of billionaires on the African continent, it is estimated at $ 73.4 billion according to Forbes, against $ 68.7 billion a year ago, mainly due to the rise in stock prices .

In this ranking, the Nigerian Aliko Dangote occupies first place for the ninth consecutive year. He is the richest man in Africa with a fortune estimated at 10.1 billion dollars, against 10.3 billion dollars last year. It must be said that its shares fell slightly with its Dangote Cement, its largest company. It is since 2011 that Aliko Dangote has occupied the first place among the richest African businessmen on the continent.

Forbes reveals its 2020 ranking of African billionaires - (Top 20)

If on the side of Dangote there was a slight fall even if it still occupies the first place, the Egyptian Nassef Sawiris was however the biggest winner of this year. His fortune has grown to $ 8 billion, up from $ 6.3 billion last year. He is now, for the first time, ranked second among the richest men in Africa. The most valuable advantage of Sawiris is a 5.7% stake in Adidas worth just over $ 4 billion. His actions on the Adidas brand have added nearly $ 1.5 billion to his fortune since January 2019.

In addition, Nassef Sawiris has a large stake in the fertilizer producer OCI NV. Last year, Nassef Sawiris and American investor Wes Edens bought the remaining stake they did not already own in the UK from the Premier League team Aston Villa Football Club.Forbes reveals its 2020 ranking of African billionaires - (Top 20)

In this ranking, the second winner is the Nigerian Abdulsamad Rabiu whose fortune has experienced an increase estimated at 3.1 billion dollars, against 1.6 billion a year ago. In January Abdulsamad Rabiu already owned a publicly traded cement company, Cement Company of Northern Nigeria (CCNN).

As of the end of December 2019, Abdulsamad Rabiu had a market capitalization of around $ 600 million. He then merged it with Obu Cement, another business he owned. By the magic of the markets, the entity resulting from the combination, BUA Cement Plc, listed on the Nigeria Stock Exchange on January 8, 2020, is worth almost 3 times what the two companies were worth before the merger. Abdulsamad Rabiu owns 98% of the new company.

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Forbes reveals its 2020 ranking of African billionaires - (Top 20)

Strive Masiyiwa is the big loser of Zimbabwean billionaires due to the new Zimbabwean dollar. As Forbes reports, Zimbabwe’s June decision to ban all foreign currencies and use only the Zimbabwe dollar has accelerated inflation and caused the value of the newly instituted dollar to fall.

This, in turn, brought down Masiyiwa’s US dollar holdings in its companies (telecommunications company Econet Wireless Zimbabwe and mobile banking company Cassava Smartech). As a result, Masiyiwa’s fortune fell to $ 1.1 billion from $ 2.3 billion a year ago, making him the biggest loser in this ranking.

Forbes reveals its 2020 ranking of African billionaires - (Top 20)

The fortune that hasn’t changed much is that of Isabel dos Santos, the richest woman in Africa and one of only two women billionaires on the continent. For the moment Forbes estimates his fortune at $ 2.2 billion.

Forbes reveals its 2020 ranking of African billionaires - (Top 20)

Of the 54 African countries, eight are home to billionaires, these are: Egypt (5), South Africa (5), Nigeria (4), Morocco (2), Algeria (1 ), Angola (1), Tanzania (1), Zimbabwe (1).

In 2011, billionaires were in Egypt 7), South Africa (4), Nigeria (2) and Morocco (3).

Forbes 2020 ranking of African billionaires (Figures in billion Usd)

Aliko Dangote (Nigeria) $ 10.1

Nassef Sawiris (Egypt) $ 8

Mike Adenuga (Nigeria) $ 7.7

Nicky Oppenheimer (South Africa) $ 7.7

Johann Rupert (South Africa) $ 6.5

Issad Rebrab (Algeria) $ 4.4

Mohamed Mansour (Egypt) $ 3.3

Abdulsamad Rabiu (Nigeria) $ 3.1

Naguib Sawiris (Egypt) $ 3

Patrice Motsepe (South Africa) $ 2.6

Koos Bekker (South Africa) $ 2.5

Yasseen Mansour (Egypt) $ 2.3

Isabel dos Santos (Angola) $ 2.2

Youssef Mansour (Egypt) $ 1.9

Aziz Akhannouch (Morocco) $ 1.7

Mohammed Dewji (Tanzania) $ 1.6

Othman Benjelloun Morocco) $ 1.4

Michiel Le Roux (South Africa) $ 1.3

Strive Masiyiwa (Zimbabwe) $ 1.1

Folorunsho Alakija (Nigeria) $ 1

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Written by How Africa

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