Who is the richest african


In Africa - as elsewhere in the world - the richest survived the pandemic well. The continent's 18 billionaires are worth an average of $ 4.1 billion, 12% more than a year ago, in part due to the rising stock market in Nigeria. For the tenth consecutive year, Nigerian Aliko Dangote is the richest person on the continent, with assets of $ 12.1 billion, up $ 2 billion from the previous year thanks to a roughly 30 percent increase in Dangote Cement's share price , by far its most valuable asset. The second richest is Egyptian Nassef Sawiris, whose largest asset is a nearly 6% stake in sporting goods manufacturer Adidas. Third place: Nicky Oppenheimer from South Africa, who inherited a stake in the diamond company DeBeers and ran the company until 2012 when he sold his family's 40 percent stake in DeBeers to mining giant AngloAmerican for $ 5.1 billion.

The biggest winner this year is another Nigerian cement magnate, Abdulsamad Rabiu. Notably, the shares of its BUA Cement PLC, which was listed on the Nigerian Stock Exchange in January 2020, doubled in value over the past year. That drove Rabius' fortune up an extraordinary 77% to $ 5.5 billion. Rabiu and his son together own about 97% of the company, which gives the company a tiny public share. The Nigerian Stock Exchange requires that either 20% or more of a company's shares be brought public, or that the shares be worth at least 20 billion naira - about $ 50 million - a ridiculous amount. A spokesman for the Nigerian Stock Exchange told Forbes that BUA Cement met the second condition. (Forbes deducts the value of shares when a company's public interest is less than 5%).

While some got billions richer, two of the 2020 list of the richest Africans fell below the $ 1 billion mark. In fact, the only two female billionaires from Africa both fell off the list. Forbes has calculated that Nigeria's Folorunsho Alakija, who owns an oil exploration company, has fallen below $ 1 billion due to the drop in oil prices. And Isabel dos Santos, who has been the richest woman in Africa since 2013, was expelled from her place by a series of court rulings that froze her fortune in both Angola and Portugal. In January 2020, the Angolan Attorney General charged Dos Santos with embezzlement and money laundering. The Angolan court alleged that the actions of Dos Santos, her husband Sindika Dokolo (who allegedly died in a diving accident in October 2020), and another member of the Angolan government resulted in losses of at least $ 1.14 billion. Forbes has rated Dos Santos' frozen fortune at zero. Dos Santos declined to comment through a spokesman.

The 18 billionaires from Africa come from seven different countries. South Africa and Egypt each have five billionaires, followed by Nigeria with three and Morocco with two. In total, they're worth $ 73.8 billion, slightly more than the $ 73.4 billion the 20 billionaires put together on last year's list of Africa's richest people.

Our list captures the wealth of African billionaires who live in Africa or have their main business there. The Sudan-born billionaire Mo Ibrahim, who is a British citizen, and the London-based billionaire Mohamed Al-Fayed, an Egyptian citizen, are therefore not included. Strive Masiyiwa, a Zimbabwean citizen residing in London, appears on the list due to his telecommunications holdings in Africa.

HERE the complete list. (Source: Forbes)