Africa is a continent filled with businessmen and entrepreneurs. The question, “Who is the richest man in Africa?” is very common, especially among countdown bloggers, business writers, business enthusiasts, the general ‘curios’ public, and even among the elites themselves. So who is the richest man in the whole continent of Africa? What are the businesses he’s into? Which of the African countries is he from? What is his net worth?
When one begins to ponder on those questions, one can quite rightly start imagining the big bucks, houses, investments, the luxury life, fleet of cars, maybe a private yacht, and of course a group of companies. The Richest man in Africa is some but not all of those and we’ll not just look at him alone, we’ll also examine the top ten and their net worth for you to confirm that he really is the richest amongst the richest. Let’s say hello to Aliko Dangote, the Nigerian billionaire who is currently the richest man in Africa.
No. 1 Richest man in Africa: Aliko Dangote
Dangote is not only the richest man in Nigeria, not only the richest man in Africa but also the richest black man in the world. He is the chairman of the Dangote Group, which is arguably the largest business conglomerate in West Africa. He hails from Nigeria, and he is considered as the most versatile businessman in Africa.
The Dangote Group has interests in production and chain-line distribution of Agricultural products. They also have investments in real estate properties. The group has large investments in Sugar, Flour, Cement, and the billionaire is on track to expand his investments tentacles in Telecoms. Dangote started out as an apprentice to his uncle Dantata, who was the son of Al-Hassan Dantata, the richest man in Africa as at the time of his death.
Dangote started out as the manager for his uncle’s business before borrowing a sum of N500,000 (a huge sum as at then) to start out on his own. He started his company in 1977 in Nigeria, and steadily grew it to span across countries like Togo, Ghana, Benin, and so on. He is known for one very good habit, which is indigenous investment. He once said at an interview that if he was given N5 billion today, he would invest everything in Nigeria rather look for foreign investments abroad.
He just launched his tomato paste manufacturing company in Kano, northern Nigeria and he said he aims to soon make it the choice brand in every Nigeria kitchen (Overthrowing other imported tomato paste brands). The richest black man on earth is one shrewd businessman who doesn’t just earn but gives. He is a well-known philanthropist with a lot of donation schemes. The father of three lives in the billionaire neighbourhood – Banana Island in Lagos and has a staggering net worth of $21.6 Billion.
2. Johann Ruperts
Johan Rupert is one of the richest men in South Africa. He’s the owner of Compagnie Financiere, and his company deals in Luxury goods. His company, asides from having consecutive annual stock increase of 50% for three years, is one of the biggest wine suppliers in South Africa.
Net Worth: $7.3 Billion
3. Nicky Oppenheimer
Nicky Oppenheimer comes from a family of South African billionaires and the family business was mainly brewing and production of alcohol. He later went on to sell his 40% shares in the family’s company – De Beers in 2011, to fully focus on his Diamond magnet business. He owns the largest private game reserve in South Africa – Tswalu Kalahari Reserves.
Net Worth: $6.8 Billion
4. Nassef Sawiris
Nassef’s construction company is one of the top dogs in Africa’s construction industry. He is the chairman of Orascom Construction Company which has its base in Egypt. He owns a significant stake in cement company – Lafarge. He also has stakes in NASDAQ (Dubai), he’s a board member of NNS Holding (Luxembourg) and BESIX (Belgium). His company executes all construction projects of the Orascom Group.
Net Worth: $6.1 Billion
5. Christoeffel Wiese
Wiese is the third richest person in South Africa and his main income source is retail. He is the owner of the giant chain supply, distribution and retail supermarket – Shoprite. Wiese is considered as a very hard working businessman, and one of the most prolific billionaires in Africa. He is a sleek investor and he owns Lanzerac Manor, one of SA’s five star hotels.
Net Worth: $5.4 Billion
6. Mike Adenuga
Mike Adenuga is the owner of Globacom telecommunications, which is the main threat to the MTN, the largest telecom service provider in Nigeria. Globacom is the No.1 service provider in a number of other African countries. He is one of the billionaires who live in the billionaire neighbourhood – Banana Island. He owns Consolidate Oil and Gas aka ConOil, one of Africa’s largest companies in the Oil and Gas sector.
Net Worth: $4.6 Billion
7. Mohamed Mansour
Mohamed Mansour owns the Mansour Group, which is one of Africa’s largest business conglomerates. The company’s services span into areas such as Industrial Equipment, Automobile, Capital Market, Consumer Goods, and so on. He also has stakes in Egypt’s mega supermarket – MetroMart, which is the largest in the country and also has stakes in Egypt’s aviation sector.
Net Worth: $4.0 Billion
8. Issad Rebrab (& family)
Cevital Business Group is overseen by Issad and it is the largest business conglomerate in Algeria. Cevital produces Sugar, Vegetable Oil, Margarine, and so on and he’s an exclusive distributor for Europcar, Hyundai and Samsung.
Net Worth: $3.3 Billion
9. Naguib Sawiris
Naguib is the son of Egyptian billionaire Onsi Sawiris and the brother of billionaire Nassef Sawiris. He oversees the telecom sector of giant brand Orascom Group. Orascom Group is Egypt’s largest private sector employer. Naguib is said to be Egypt’s second richest man and his company has over 70% stake in North Korea’s only cellphone network – Koryolink,.
Net worth: $3.1 Billion
10. Youseff Mansour
If you think the Sawiris family is the only billionaire family in Egypt, then think again. Youseff Mansour is from the powerful billionaire Mansour family. His is quiter than his other two billionaire brothers and they are much well known than he is. He controls MetroMart, the largest supermarket chain in Egypt, as well as tobacco brands, and McDonald’s restaurants. Along with his billionaire brothers, he owns a stake in the Mansour Group, which is a giant business conglomerate within Africa and beyond.
Net Worth: $2.9 Billion