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Richest Man in Africa in 2020? See the top 15 According to Forbes

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The top 15 richest men in Africa are all billionaires (in dollars) according to the latest 2020 Forbes list. In this article, you’ll get a brief info on the top 15 billionaires in Africa (Men category).

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The past decade has seen several billionaires spring up in Africa. Many of them are big-time influencers within their respective countries, owning one or more big businesses. Some of them even go as far as owning companies with branches stretching across several other African countries and the world at large.

Hopefully, in the next decade, we’ll see more self-made billionaires spring up in Africa.

Editor’s picks:

I will give you a heads up before we go into details. The richest man in Africa happens to come from Nigeria, and he has maintained that top spot for several years now. I’m sure by now you must know who that is if you’ve been a keen follower of African business news.

Without further ado, let’s get started with the reason you clicked to read this post.

Here are the top 15 richest men in Africa

1. Aliko Dangote – $10.3 billion net worth (Forbes)

Aliko Dangote in his office
source: cityscooping.con

Aliko Dangote, born on the 10th of April 1957, is a Nigerian multi-billionaire and an investor in several businesses including cement, sugar, flour among others, which are all under one umbrella, Dangote Group of Companies. As earlier noted, Aliko Dangote is the richest man in Africa and has been so for several years. He has a net worth of roughly $10.3 billion. His businesses are situated majorly in Nigeria, with franchises stretching across several other African countries.

Take note that Africa’s richest man is currently the 100th richest person in the world. His current net worth of $12.2 is miles away from his net worth of over $20 billion in the early parts of 2015. By then, according to Forbes, he was the 23rd richest person in the world. A huge contributing factor to the decline of his net worth is the depreciation of Nigeria’s local currency, Naira. Notwithstanding, with Aliko Dangote current net worth he still remains the richest black person in the world.

2. Mike Adenuga – $9.2 billion net worth (Forbes)

Naguib Sawiris

Mike Adenuga is the owner and founder of Nigeria’s giant telecommunication company, Globacom. He is currently the second richest man in Nigeria and in Africa, with a net worth of $5.3 billion based on Forbes’ estimations. After he launched Globacom it quickly spread within Nigeria and now has branches in several other West African countries including Ghana, Benin & Côte d’Ivoire.

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Mike Adenuga, apart from his investment into the telecommunication business, is currently the Chairman of Conoil, a big player in the oil sector. Petroleum business was, as a matter of fact, his first interest; he received a drilling license in 1990 – 9 years before he was issued a conditional GSM license.

3. Nicky Oppenheimer – $7.3 billion net worth (Forbes)

Nicky Oppenheimer

Nicky Oppenheimer is a South African multi-billionaire and currently Africa’s 3rd richest man, with a net worth of $7.3 billion according to Forbes 2019 rankings. He was born on the 8th of June 1945 and inherited a family business of diamond mining and production. He was formerly the CEO of De Beers and its subsidiary, The Diamond Trading Company (DTC).

In 2011 Nicky Oppenheimer sold the remaining of his family’s 40% stake on De Beers to Anglo American, a company that already owned 45% stake in the diamond business. Right now much of the Oppenheimer family efforts are directed at philanthropy.

4. Nassef Sawiris – $6.3 billion net worth (Forbes)

Nassef Sawiris

Nassef Sawiris is the current CEO of Egypt-based construction company, Orascom; and is currently the 4th richest man in the world, with a net worth of $6.3 billion based on Forbes’ 2019 estimations. He was born in 1961 and has always featured among the top ten richest persons in Africa since 1998, along with his brother Onsi Sawiris.

Apart from his investments in Orascom Construction Company, he owns stakes in several other local and foreign companies including Nile Holding Investment (NHS), Besix, Adidas AG, and many more others. He currently the CEO of Aston Villa Football Club, after his company acquired a stake of 45%.

5. Johann Rupert – $5.3 billion net worth (Forbes)

Johann Rupert

Johann Rupert is currently the 5th richest man in Africa with a net worth of $5.3 billion. He was born on the 1st of June, 1950 to the family of South African business tycoon, Anton Rupert. Johann Rupert assumed the position of CEO a luxury good company, Compagnie Financiere Richemont, on the 1st of May 2010; a company in which he founded in 1988. After his assumption of CEO role, the company witnessed a massive 50% stock increase annually for a long period of time.

He is a lover of sports and is known to be a former cricketer; coupled with that was his involvement in the annual Gary Player Invitational golf tournament used in raising funds for various children’s charities.

6. Issad Regrab – $3.7 billion net worth

Isaad Regrab

Issab Regrab, along with Naguib Sawiris holds the position of 6th richest man in Africa, also having an estimated net worth of $4 billion according to Forbes. He is the founder and CEO of Cevital Group, the largest privately-owned conglomerate in Algeria. His company is widely known to produce foods including sugar, vegetable oil, and margarine, among others. CEVITAL owns one of the largest sugar refineries in the world, and Issab Regrab is the richest man in his country of origin, Algeria.

Apart from his investments in the food business, Issab Regrab is said to have interests in the construction business and is the chief Executive distributor in his country for top brands from around the globe like Hyunday, Europcar and Samsung.

7. Naguib Sawiris – $2.9 billion net worth

Also on our list of the richest men in Africa is Naguib Sawiris, elder brother of Nassef Sawiris. According to Forbes, his estimated net worth is $2.9 billion. Similar to Mike Adenuga, he is a chief player in the telecommunication business. After joining the family business, Orascom, in 1979, the company continued to witness massive growth and is said to be the highest employer of labor among other private sectors. He is currently the chairman of Orascom Telecom Media and Technology Holding S.A.E.

8. Koos Becker – $2.3 billion net worth

Koos Becker: Nasper

Jacobus Petrus Bekker, popularly called Koos Bekker is a billionaire from South Africa who currently holds the position of 8th richest man in Africa. According to Forbes, he has an estimated net worth of $2.8 billion. He was able to amass so much fortune from his involvements in the media business. Koos Bekker is the chairman of Naspers, a media company that operates in over 130 countries and is currently listed in London & Johannesburg stock exchange.

He was formerly the CEO of MIH group until 1997, after taking charge of Naspers where he was CEO for several years. His tenure at Naspers oversaw the market capitalization of the company from about $1.2 billion to $45 billion. He stepped down from his position as CEO of the company in 2014 and currently holds the chairmanship’s position at Naspers.

8. Mohamed Mansour – $2.3 billion net worth

Mohamed Mansour

Mohamed Mansour is tied as the 8th richest man in Africa with an estimated net worth of $2.3 billion according to Forbes. He was formerly an Egyptian politician, and is currently the chairman of the second-largest business conglomerate in Egypt, Mansour Group, said to be worth in excess of $6 billion. His other investments include Metro, the largest Egyptian supermarket chain and an Egyptian franchise of American-based McDonalds.

Mohamed Mansour was born into the family of prominent Alexandrian business tycoon in 1948, and has since them maintained an active membership in the family business, the Mansour Group, after acquiring his degree at the North Carolina State University. He began to lead the Mansour group after the demise of his father in 1976, and has so far led them to huge success. His company is a major distributor for top companies like Chevrolet, Marlboro, General Motors and Caterpillar.

8. Patrice Motsepe – $2.4 billion net worth

Patrice Motsepe

Patrice Tlhopane Motsepe, born on the 28th of January 1962 is the richest black South African and currently tied as the 8th wealthiest man in Africa, with a net worth of approximately $2.4 billion. He is the founder and executive chairman of African Rainbow Minerals, a South African-based mining company which has interests in gold, ferrous metals, base metals, and platinum. Patrice Motsepe is also the non-executive chairman of Harmony Gold, the 12th largest gold mining company in the world.

His business success and status as a mining magnate has seen him bag several honorary awards including South Africa’s Best Entrepreneur Award, 2002; 39th position in SABC3’s Great South Africans, 2004. Patrice Motsepe currently holds several other positions in some of his other mining subsidiaries.

8. Strive Masiyiwa – $2.3 billion net worth

Strive Masiyiwa

Strive Masiyiwa is the Executive Chairman & Founder of the Econet Group, which owns Econet wireless, Econet media (popularly called Kwesé) and several other Econet subsidiaries. The South African-based Zimbabwean has an estimated net worth of $2.3 billion, according to Forbes. He is a member of the Africa Progress Panel (APP), a group of distinguished individuals whose interests are aimed at fostering a lasting positive change in Africa.

Strive Masiyiwa is also popular for his efforts in philanthropy. He owns a foundation that supports orphans in Africa and all over the world. He is also known to own a popular Facebook page that is aimed at mentoring the younger generation and breeding smart entrepreneurs for the future.

12. Aziz Akhannouch – $2.1 billion net worth

Aziz Akhannouch is a businessman and current minister of Agriculture in his birth country, Morocco. He is his country’s richest man and is currently Africa’s 12th wealthiest man. Aziz is currently the CEO and majority shareholder of Akwa Group, a Moroccan conglomerate particularly active in the oil and gas sector. Akwa Group, a family business he inherited from his father, own stakes in media, real estate development and hotels. In 2016, Aziz Akhannouch was featured on the 23rd spot of Forbes’ annual richest Arabians.

13. Mohammed Dewji – $1.9 billion net worth

Mohammed Dewji
Source: Mohammeddewji.com

Mohammed Dewji is a Tanzanian billionaire businessman, philanthropist, and former politician. His net worth of $1.9 billion places him in the 13th position on our list of Africa’s richest men. Mohammed Dewji is the current president and owner of Mohammed Enterprises Tanzania Limited (MeTL) Group, a Tanzanian conglomerate which was founded by his father in the 1970s. He is at the moment the only Billionaire in his country, Tanzania.

His company, MeTL Group is the largest privately-owned conglomerate in Tanzania and has investments in several sectors including manufacturing, agriculture, trading, finance, mobile telephony, insurance, real estate, transport and logistics, and food and beverages. MeTL group currently conducts its businesses in more than 11 African countries and employs over 25,000 workers.

14. Othman Benjelloun – $1.7 billion net worth

Othman Benjelloun

Born in the city of Fez, Morocco in 1931, Othman Benjelloun is currently the 14th richest man in Africa with a net worth of approximately $1.7 billion according to Forbes’ rating. He inherited his father’s shares in an insurance company and ultimately took over that company in 1988, Othman Benjelloun is a major player in the banking sector, with his banking enterprise BMCE bank having an active presence in over 20 African Countries.

15. Abdulsamad Rabiu – $1.6 billion net worth

Abdulsamad Rabiu is currently the 15th Richest man in Africa. He is the founder of BUA Group, a Nigerian conglomerate with investments in cement production, sugar refining and real estate.

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Our Health, Educational, Career journals, and the likes are not intended to serve as substitutes for professional advice. Therefore, we urge you to consult an appropriate professional before making any decision.

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