Billionaire wealth in Africa continues to surge, fueled by rising equity markets, corporate profits, and more stable regional currencies. In 2026, the continent’s 23 richest individuals are worth $126.7 billion, up 21% from 2025, adding $20.3 billion collectively to their fortunes.
Leading sectors include telecommunications, mining, cement, energy, luxury goods, and banking.
Africa’s population is estimated at over 1.5 billion people in 2026, accounting for roughly 18% of the global population.
It is the world’s fastest-growing region, with projections expecting the population to reach 2.5 billion by 2050.
While billionaires are spread across the continent, some countries have become hotbeds for ultra-wealth, hosting the largest number of dollar-denominated billionaires. These countries combine large populations, diversified economies, and deep capital markets, enabling entrepreneurs and industrialists to build vast fortunes that rival global peers.
In this feature, we take a look at the top 7 African countries with the highest number of dollar-denominated billionaires based on Forbes ranking index.
According to the latest Forbes real-time billionaire rankings, the country’s sole billionaire is Mohammed Dewji, with an estimated net worth of about $2.1 billion.
Dewji is the chief executive officer of MeTL Group (Mohammed Enterprises Tanzania Limited), a diversified conglomerate originally founded by his father in the 1970s.
Under Dewji’s leadership, the company has grown into one of East Africa’s largest privately owned businesses, with operations spanning textile manufacturing, flour milling, beverages, edible oils and other consumer goods.
The group has expanded significantly beyond Tanzania and now operates in more than 10 African countries, including Uganda, Ethiopia and Kenya, making it a major regional industrial player. Through these businesses, Dewji has helped transform MeTL into a large manufacturing and trading enterprise serving markets across East, Central and Southern Africa.
Beyond business, Dewji is also known for his philanthropic commitments. In 2016, he became one of the few African billionaires to sign The Giving Pledge, promising to donate at least half of his wealth to charitable causes. His philanthropy focuses on improving education, healthcare and opportunities for young people in Tanzania.
Dewji has also drawn international attention following a 2018 kidnapping incident in Dar es Salaam, after which he was released nine days later. Today, he remains Tanzania’s richest individual and its only billionaire on the Forbes list.
