…Africa’s 23 billionaires Add Over $20bn to Fortune
…Dangote Retains Top Spot.
By Yinka Giwa
Africa’s richest individuals recorded a sharp rise in their fortunes over the past year, with Nigerian industrialists Aliko Dangote and Abdulsamad Rabiu emerging among the biggest beneficiaries as strong performance in cement stocks boosted their wealth.
According to the latest billionaires ranking released by Forbes, the continent’s 23 billionaires collectively added more than $20 billion to their combined wealth in the past year, pushing their total net worth to $126.7 billion.
The new figure represents a 21 per cent increase compared with the 2025 ranking, a development the magazine attributed largely to stronger equity markets across Africa and improved currency stability in several economies.
Dangote retained his position as Africa’s richest person with an estimated fortune of $28.5 billion. His wealth rose significantly after shares of Dangote Cement surged following the company’s record profits in 2025.
South African luxury goods magnate Johann Rupert and his family ranked second on the list with a net worth of $16.1 billion.
Rabiu, founder of BUA Group, climbed to third position after recording the biggest wealth increase among the continent’s billionaires. His net worth jumped by about 120 per cent to $11.2 billion, largely driven by the strong performance of BUA Cement shares during the year.
The ranking also featured Nigerian telecoms and oil tycoon Mike Adenuga with a net worth of $6.5 billion, while investor Femi Otedola entered the list with an estimated fortune of $1.3 billion.
Other prominent names on the list include Nicky Oppenheimer and family with $10.6 billion from metals and mining, Egyptian businessman Nassef Sawiris with $9.6 billion in construction and engineering, and telecoms entrepreneur Naguib Sawiris with $5.6 billion.
South African mining magnate Patrice Motsepe was listed with $4.3 billion, while Egyptian businessman Mohamed Mansour had $4 billion.
The ranking also includes Michiel Le Roux with $3.8 billion in finance and investments, Koos Bekker with $3.6 billion in media and entertainment, and Algerian industrialist Issad Rebrab and family with $3.6 billion from food and beverage businesses.
Others on the list are Jannie Mouton and family with $2.7 billion, Tanzanian businessman Mohammed Dewji with $2.1 billion, and Zimbabwean telecoms entrepreneur Strive Masiyiwa with $2.1 billion.
Christoffel Wiese ranked with $1.9 billion from fashion and retail, while Youssef Mansour recorded $1.8 billion in diversified investments.
Moroccan banking magnate Othman Benjelloun and family posted $1.7 billion, followed by Moroccan Prime Minister Aziz Akhannouch and family with $1.6 billion.
Yasseen Mansour had $1.4 billion, the same amount as Samih Sawiris from the services sector, while Nigerian businessman Otedola recorded $1.3 billion.
Also listed with $1.3 billion is Moroccan real estate developer Anas Sefrioui and his family.
Nigeria maintained a strong presence in the ranking with four billionaires: Dangote, Rabiu, Adenuga, and Otedola, highlighting the country’s continued influence among Africa’s wealthiest individuals.
Overall, 14 of the 23 billionaires on the list are self-made, reflecting the dominance of entrepreneurs who built their fortunes from scratch across sectors such as manufacturing, telecoms, mining, finance, and retail.
South Africa leads the ranking with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.
Forbes noted that the overall increase in wealth among Africa’s richest individuals reflects improved investor confidence in several of the continent’s major markets, as well as stronger regional currencies that have helped lift asset values over the past year.