The top 21 richest men in Africa are all billionaires (in dollars) according to the latest 2019 Forbes list. In this article you’ll get a brief info on all of those African billionaires.
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; but for now there are just 21 of them (men category only).
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 richest men in Africa (Africa’s Billionaires)
1. Aliko Dangote – $12.2 billion net worth (Forbes)
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 $12.2 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. Nicky Oppenheimer – $7.7 billion net worth (Forbes)
Nicky Oppenheimer is a South African multi-billionaire and currently Africa’s 2nd richest man, with a net worth of $7.7 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.
3. Johann Rupert – $7.2 billion net worth (Forbes)
Johann Rupert is currently the 3rd richest man in Africa with a net worth of $7.2 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.
4. Nassef Sawiris – $6.8 billion net worth (Forbes)
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 $6.8 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. Mike Adenuga – $5.3 billion net worth (Forbes)
Mike Adenuga is the owner and founder of Nigeria’s giant telecommunication company, Globacom. He is currently the second richest man in Nigeria and the fifth richest person 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.
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.
6. Naguib Sawaris – $4 billion net worth (Forbes)
Also on our list of the richest men in Africa is Naguib Sawaris, elder brother of Nassef Sawiris. According to Forbes, his estimated net worth is $4 billion. And 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.
7. Issad Regrab – $4 billion net worth (Forbes)
Issab Regrab, along with Naguib Sawaris hold 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 is 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 food business, Issab Regrab is said to have interests in construction business and is the chief Executive distributor in his country for top brands from around globe like, Hyunday, Europcar and Samsung.
8. Koos Becker – $2.8 billion net worth (Forbes)
Jacobus Petrus Bekker, popularly called Koos Bekker is 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 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.
9. Mohamed Mansour – $2.7 billion net worth (Forbes)
Mohamed Mansour is 9th richest man in Africa with an estimated net worth of $2.7 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.
10. Patrice Motsepe – $2.4 billion net worth (Forbes)
Patrice Tlhopane Motsepe, born on the 28th of January 1962 is the richest black South African and currently the 10th 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.
11. Aziz Akhannouch – $2.2 billion net worth (Forbes)
Aziz Akhannouch is a business man and current minister of Agriculture in his birth country, Morocco. He is his country’s richest man and is currently Africa’s 11th wealthiest person. Aziz is currently the CEO and majority shareholder of 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.
12. Yasseen Mansour – $1.9 billion net worth (Forbes)
Yasseen Mansour along with his billionaire brothers Youssef and Mohammed run the family business, Mansour Group. He has been an active member of the group which owns and manage several businesses including GM vehicles and Caterpillar dealerships in several African countries. Yasseen Mansour is the current chairman of Palm Hills Developments, one of Egypt’s biggest real estate developers. He has an estimated net worth of $1.9 billion and is currently ranked as the 12th richest man in Africa.
13. Strive Masiyiwa – $1.7 billion net worth (Forbes)
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 $1.7 billion, according to Forbes. He is a member of the Africa Progress Panel (APP), a group 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.
14. Othman Benjelloun – $1.6 billion net worth (Forbes)
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 $1.6 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. Mohammed Dewji – $1.5 billion net worth (Forbes)
Mohammed Dewji is a Tanzanian billionaire businessman, philanthropist, and former politician. His net worth of $1.5 billion places him in the 15th 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.
16. Youssef Mansour – $1.4 billion net worth (Forbes)
Youssef is the 3rd of the Mansour brothers making our list of African men who are billionaires. Similar to his brothers, he is a shareholder and member of the Mansour group. After his degree at the North Carolina State University, he resumed his active position in the family business.
Not too much of his personal life is known to the public because he keeps a low profile. It is known, however, that Youssef Mansour oversees the consumer goods division of the Mansour group, which includes supermarket chain Metro, and sole distribution rights for L’Oreal in Egypt. Forbes currently estimates his net worth to be $1.4 billion, which places him in the 16th position of our Africa’s richest men list.
17. Stephen Saad – $1.2 billion net worth (Forbes)
Stephen Bradley Saad is a South African billionaire businessman. He is known to be the founder and CEO of Aspen Pharmacare, the largest manufacturer of multi-purpose medicines in Africa. Stephen Sad, according to Frobes 2019 ratings, have a net worth of approximately $1.2 billion and is currently the 17th richest man in Africa. Furthermore, he is the chairman of Sharks rugby club in Durban and is also among board of trustees the Durban High School.
18. Michiel Le Roux – $1.2 billion net worth (Forbes)
Michiel Le Roux is the founder and former CEO of Capitec Bank Holdings Limited, a South African based banking sector established in 2001, which as of 2007 became the 2nd largest retail bank in South Africa. Michiel Le Roux’s investment into the banking sector has earned him the status of an African billionaire, with Forbes estimating his net worth to be roughly $1.2 billion, which places him joint 17th richest man in Africa.
19. Onsi Sawiris – $1.2 billion net worth (Forbes)
Onsi Sawiris is the Father of the other two other billionaires in this list, Naguib and Nassef Sawiris. He is estimated to have a net worth of approximately $1.1 billion dollars according to Forbes recent ratings. Onsi founded the company, Orascom conglomerate, in which his children now manage. The Egyptian business tycoon was born on the 14th of August, 1930 which means he is presently aged 88, and therefore the oldest billionaire in Africa.
20. Desmond Sacco – $1.1 billion net worth (Forbes)
Desmond Sacco is a South African business tycoon who serves as Chairman and Managing Director of Assore Limited, a group in which his father founded in 1928. Desmond was born in the city of Johannesburg, South Africa in 1942, and became part of the Assore group in 1968, a public company traded on the Johannesburg Stock Exchange. He became a member of the Board of Directors in 1974, and in 1992 he became the chairman and managing director of the group.
Additionally, Demond is the chairman of Assmang Limited, a mining group in which his company, Assore, has a 50% stake on. The mining magnate is currently estimated by Forbes to have a net worth of $1.1 billion, which places him in the 20th position among Africa’s richest men.
21. Christoeffel Wiese – $1.1 billion net worth (Forbes)
Christoffel F. Hendrik Wiese, popularly referred to as Christo Wise, is a South African businessman and billionaire who acquired his well through his involvements in consumer retail. He, according to Forbes, has an estimated net worth of $1.1 billion dollars, which places him joint 20th in our list on Africa’s richest men, massive decline from his former net worth of $5.9 billion and 5th richest man in Africa’s position.
Christo Wiese is currently the chairman and the only shareholder of Africa’s biggest retail store and supermarket chain, Shoprite, with branching stretching across several African countries including Nigeria. In addition, Wiese is the current chairman of Invicta Holdings Limited, a position he has held since 2006. He was at some point rated as the 11th-most successful businessman in his chosen fields of industry (accounting, banking, finance, consumer goods, fashion, and retail) and was also at some point considered the 69th-most successful person in South African history.
Those are the 21 billionaires Africa currently has in 2019. Let’s see how 2019 turns out to be.