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Forbes Magazine has published its 2018 list of Africa’s wealthiest billionaires. And as always, the list is consisted of regular names.

With a net worth of $10 billion, Alhaji Aliko Dangote of Dangote Industries Limited, topped the list to emerge Africa’s wealthiest billionaire for the eight consecutive year.

Sixty-one year old Aliko Dangote makes his money from his many companies which are specialised in the production and merchandising of both consumer and industrial goods such as sugar, flour, and cement.

According to the ranking, Aliko Dangote is followed closely by Globacom’s Mike Adenuga. The sixty-five-year-old businessman is worth a total net worth of $9.2 billion after his wealth increased tremendously from $5.3 billion. At this rate, he is now $800 million less rich than Dangote.

Note that unlike Adenuga whose net worth increased by nearly $4 billion, Aliko Dangote lost $2 billion since the last ranking.

“Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the third largest operator in Nigeria, with 43 million subscribers. His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver. He made his first million at age 26 selling lace and distributing soft drinks.” -Adenuga

Here are the other billionaires on the list

South Africa’s Nicky Oppenheimer is the third wealthiest billionaire in Africa according to Forbes Magazine. He is worth $7.3 billion, money he and his family has mostly earned from diamond trades.

The fourth wealthiest African according to Forbes is fifty-seven-year-old Egyptian billionaire, Nassef Sawiris. He is $6.3 billion, money he has mostly earned his construction and chemicals business.

On the fifth position is South Africa’s Johann Rupert who is worth $5.3 billion. He is sixty-eight years old and a specialist in luxury goods.

Standard chartered

Algerian businessman and the CEO of Cevital Industrial Group, Issad Rebrab, is the sixth wealthiest African billionaire in 2019. The seventy-five year old tycoon is worth $3.7 billion. He has made most of his money from various businesses in different sectors such as food, steel, and electronics.

Standard chartered

Naguib Sawiris of Egypt is number seven on the list. According to Forbes, he is worth $2.9 billion. The sixty-four-year-old makes a bulk of his money from his telecoms business.

With a net worth of $2.3 billion, sixty-six-year-old South African businessman, Koos Bekker, is the eighth wealthiest African billionaire in 2019.


Next on the list is Angola’s Isabel dos Santos who is worth $2.3 billion. She is the wealthiest African billionaire, a position she has held on to for some years now. The woman is forty-five years, and supposedly makes her money from “investments”.

Also worth $2.3 billion is seventy-year-old Egyptian, Mohammed Mansour. The former politician makes a bulk of his earnings through his diversified business operations.

Fifty-seven year old Strive Masiyiwa of Zimbabwe also has a net worth of $2.3 billion. He has made a bulk of that money from his telecoms business.

Fifty-six year old South African, Patrice Motsepe, is also worth $2.3 billion. He is a mining expert.


Note that five billionaires occupy the eight position according to the latest Forbes ranking.

Other top billionaires are: 

  • Fifty-eight year old Moroccan businessman, Aziz Akhannouch: $2.1 billion.
  • Forty-three year old Tanzanian, Mohammed Dewji: $1.9 billion
  • Eighty-six year old Moroccan, Othman Benjelloun: $1.7 billion
  • Fifty-eight year old Nigerian, Abdulsamad Rabiu: $1.6 billion
  • Fifty-seven year old Egyptian, Yassen Mansour: $1.5 billion
  • Seventy-three year old Egyptian, Youssef Mansour: $1.2 billion
  • Sixty-eight year old Nigerian, Folorunsho Alakija: $1.1 billion
  • Sixty-nine year old South African, Michiel Le Roux: $1.1 billion

Quick points to note 

According to this latest Forbes ranking of Africa’s top billionaires, there four Nigerians on the list. There are more South African billionaires than any other country, followed by Egyptians.


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