Richest People in Africa

By Lyman Jackson
10 months Ago

Hello everyone, on this page we will list the richest and wealthiest Africans. Eish, some of these people somehow continue to gain more money and assets while somehow the majority still struggle to make profits after years of hard work, I guess the saying is still true, the rich get richer. Either way, I hope you will enjoy this list which is updated as of January 2024. Whether it motivates you or makes you question some things, that is up to you. You can always leave a comment below or contact us if you think we should add or remove certain information on this page.

Below we will list the wealthiest people in Africa according to their Net worth. We have also decided to list their Net worth in United Dollars so that it can be a easier for those of you who are comparing the list with people from other countries. Net worth is the value of all the non-financial and financial assets owned by an individual minus the value of all his/her outstanding liabilities.

An individual’s Net worth refers to an individual’s net economic position, the value of the individual’s assets minus liabilities.

Examples of assets someone would factor into their net worth include retirement accounts, other investments, home(s), and vehicles. Liabilities include secured debt, such as a home mortgage and unsecured debt, such as personal loans or consumer debts.

Wealthiest people in Africa by order

Aliko Dangote
- Net Worth (2024): $13.9 billion
- Origin of Wealth: Cement and Sugar
- Age: 66
- Country: Nigeria
- Aliko Dangote, Africa’s wealthiest person, has built his fortune through Dangote Cement, Africa’s largest cement producer, and has expanded into sugar and flour manufacturing. Despite a challenging economic environment, Dangote continues to invest in expanding his business empire across Africa, notably in the construction of one of the world’s largest oil refineries in Nigeria.
Johann Rupert
- Net Worth (2024): $10.1 billion
- Origin of Wealth: Luxury Goods
- Age: 73
- Country: South Africa
- Johann Rupert is the chairman of the Swiss luxury goods firm Compagnie Financiere Richemont, known for brands like Cartier and Montblanc. He also holds significant stakes in investment company Remgro and Reinet, an investment holding company. Rupert is known for his conservation efforts and his critical view on unchecked capitalism.
Nicky Oppenheimer
- Net Worth (2024): $9.4 billion
- Origin of Wealth: Diamonds
- Age: 78
- Country: South Africa
- Nicky Oppenheimer, the former chairman of De Beers diamond mining company and its subsidiary, the Diamond Trading Company, has sold his family’s 40% stake in De Beers to Anglo American but remains active in private equity and conservation in Africa.
Nassef Sawiris
- Net Worth (2024): $8.7 billion
- Origin of Wealth: Construction and Investments
- Age: 63
- Country: Egypt
- Nassef Sawiris is Egypt’s wealthiest man, overseeing OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa. He also has significant stakes in cement giant Lafarge Holcim and Adidas.
Mike Adenuga
- Net Worth (2024): $6.9 billion
- Origin of Wealth: Telecom and Oil
- Age: 70
- Country: Nigeria
- Mike Adenuga made his fortune through telecommunications with Globacom, Nigeria’s third-largest operator, and Conoil Producing, one of Nigeria’s largest oil exploration companies. He is known for his privacy and significant contributions to Nigerian football.
Abdulsamad Rabiu
- Net Worth (2024): $5.9 billion
- Origin of Wealth: Cement and Sugar
- Age: 63
- Country: Nigeria
- Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining, and real estate. In recent years, Rabiu has focused on expanding his business, including launching a new export-focused cement plant near Lagos.
Naguib Sawiris
- Net Worth (2024): $3.8 billion
- Origin of Wealth: Telecom
- Age: 69
- Country: Egypt
- A member of Egypt’s wealthiest family, Naguib Sawiris stepped down as CEO of Orascom Telecom Media and Technology (OTMT) but remains active in telecom and media investments across Europe and emerging markets. He is also a notable investor in gold mining.
Mohamed Mansour
- Net Worth (2024): $3.2 billion
- Origin of Wealth: Diversified
- Age: 76
- Country: Egypt
- Mohamed Mansour oversees the Mansour Group, which has the exclusive distribution rights for GM vehicles and Caterpillar equipment in Egypt and several other countries. He has diversified into retail, real estate, and logistics.
Koos Bekker
- Net Worth: $2.7 billion (2024)
- Origin of Wealth: Media, Investments
- Age: 71
- Country: South Africa
- Bekker transformed South African newspaper publisher Naspers into an e-commerce investor and cable TV powerhouse, famously investing in Tencent in 2001. He is known for his visionary investment strategies.
Patrice Motsepe
- Net Worth: $2.7 billion (2024)
- Origin of Wealth: Mining
- Age: 61
- Country: South Africa
- Motsepe, the founder of African Rainbow Minerals, became a billionaire by leveraging South Africa’s Black Economic Empowerment (BEE) policies. He is also the president of the Confederation of African Football (CAF).
Issad Rebrab
- Net Worth: $2.5 billion (2024)
- Origin of Wealth: Food
- Age: 80
- Country: Algeria
- Rebrab is the founder and CEO of Cevital, Algeria’s biggest privately-held company, which owns one of the largest sugar refineries in the world. He is focused on expanding his empire across Europe and Africa.
Mohammed Dewji
- Net Worth: $1.8 billion (2024)
- Origin of Wealth: Diversified
- Age: 48
- Country: Tanzania
- Dewji is the CEO of METL, a Tanzanian conglomerate operating in various industries. Known as “Mo,” he is Africa’s youngest billionaire and has pledged to donate at least half of his fortune to philanthropic causes.
Strive Masiyiwa
- Net Worth: $1.8 billion (2024)
- Origin of Wealth: Telecom
- Age: 62
- Country: Zimbabwe
- Masiyiwa is the founder of Econet Group, with operations and investments in over 20 countries. He is recognized for his leadership in telecom and his philanthropic work in health, education, and development across Africa.
Aziz Akhannouch
- Net Worth: $1.7 billion (2024)
- Origin of Wealth: Petroleum, Diversified
- Age: 63
- Country: Morocco
- Akhannouch is the majority owner of Akwa Group, a conglomerate with interests in petroleum, gas, and chemicals. He has served in various governmental roles, enhancing his influence in Morocco’s economic and political spheres.
Othman Benjelloun
- Net Worth: $1.4 billion (2024)
- Origin of Wealth: Banking, Insurance
- Age: 91
- Country: Morocco
- Benjelloun is CEO of BMCE Bank of Africa, which has expanded into over 20 African countries. He is also involved in projects aimed at improving Morocco’s infrastructure and educational system.
Youssef Mansour
- Net Worth: $1.3 billion (2024)
- Origin of Wealth: Diversified
- Age: 78
- Country: Egypt
- Part of the Mansour Group, Youssef oversees the consumer goods division and has been instrumental in expanding the group’s operations globally. He maintains a lower public profile compared to his brothers.
Yasseen Mansour
- Net Worth: $1.2 billion (2024)
- Origin of Wealth: Diversified
- Age: 62
- Country: Egypt
- Yasseen is part of the Mansour Group leadership, with a focus on real estate. He is also involved in philanthropic activities through the Mansour Foundation for Development.
Christoffel Wiese
- Net Worth: $1.2 billion (2024)
- Origin of Wealth: Retail
- Age: 82
- Country: South Africa
- Wiese built his fortune in retail, notably through Shoprite, Africa’s largest supermarket chain. His investments span across retail and property sectors.
Michiel Le Roux
- Net Worth: $1.1 billion (2024)
- Origin of Wealth: Banking
- Age: 74
- Country: South Africa
- Le Roux founded Capitec Bank, which revolutionized South African banking with its innovative approach to retail customers. He remains a significant figure in the banking sector.
Femi Otedola
- Net Worth: $1.1 billion (2024)
- Origin of Wealth: Gas Stations, Utilities
- Country: Nigeria
- Otedola, a prominent entrepreneur, made his mark through investments in energy, with Forte Oil being one of his major ventures. He is known for his philanthropic efforts and commitment to various social causes.