The richest people in Africa have made their fortunes by investing in oil and gas, financial services, retail, telecommunications, mining, and manufacturing.
These industries are some of the most lucrative on Earth, with many barriers to entry due to their high startup costs or complex regulations.
It is no secret that Africa has some of the wealthiest people in the world. Many millionaires live on this continent, with a population of 1.2 billion.
This article will look at the top 10 wealthiest people in Africa and their net worth to see how they got so rich.
The Richest People in Africa
Here is a list of the top 10 wealthiest people in Africa and their net worth:
1. Aliko Dangote – Richest Person in Africa
Dangote is a Nigerian businessman who owns the Dangote Group, a conglomerate that includes flour mills, cement plants, and oil refineries.
Aliko Dangote is Africa’s richest man in 2022, with an estimated net worth of USD 11.9 billion. His wealth is primarily due to his investment in Nigeria’s large and growing industrial sector.
Dangote Group has interests across industries, from baking bread like its Dangote Flour Mills, which produces nearly two-thirds of all Nigerian wheat flour and pasta under a license agreement with Barilla, to cement production through Atlas Cement Company.
He stakes in property development companies such as Benso Development Corporation and Geostar Engineering & Infrastructures Limited.
Oil refineries, including Port Harcourt Refinery Company; fertilizer plants, including National Fertilizers Industrial Co.; gas stations through Eco Fuel Africa Ltd.
2. Nassef Sawiris – Net Worth – 9.2 Billion USD
He is the Chairman and CEO of the OCI Group. Sawiris is the son of Onsi Sawiris, founder of Orascom Construction Industries (OCI), onEgypt’sypt’s largest private-sector enterprise.
He has been instrumental in guiding his father’s business to become a multinational conglomerate with investments spanning many sectors, including cement production, fertilizer plants, gas stations, and real estate.
Some analysts believe he will eventually succeed his father at the helm of OCI.
NaSawiris’sris’s net worth is USD- 9.2 billion, according to Forbes’s Richest People In Africa list for 2022.
3. Nicky Oppenheimer – 8 Billion USD
Third on our list of the wealthiest people in Africa is Nicky Oppenheimer.
Net Worth: Eight billion USD according to Forbes Richest People In Africa list for 2022
Nicky Oppenheimer is a South African diamond mining heir and philanthropist who was the Chairman of De Beers Consolidated Mines Ltd (Debswana), the world’s largest producer of diamonds by volume.
In December 2005, Oppenheimer resigned from his position as the Chairman of De Beers following an agreement with Anglo American plc involving their joint venture company- Diamond Trading Company International Limited.
He has since been engaged in various charitable activities through The Nicky Oppenheimer Family Foundation, supporting causes such as education, poverty alleviation, and wildlife conservation.
4 Johann Rupert – 7.1 Billion USD
Johann Rupert featured prominently among any list of Africa’s richest people. He is the 2nd Richest Person in South Africa as well.
He has been a director of Richemont (formerly Compagnie Financiere Richemont SA) since 1984 and Chairman since 1988, when he succeeded his father, Anton Rupert.
Richemont owns companies such as; The Cartier, Van Cleef & Arpels, IWC Schaffhausen, Baume et Mercier, and last but not least, The Chloé and Montblanc brands, among other luxury goods manufacturing companies.
He also sits on the board of the successor company Forevermark Diamonds Limited.
5. Mike Adenuga – 6.4 Billion USD
Mike Adenuga is ranked number 5 in our list of wealthiest people in Africa. He is the owner of Globacom, which is a Nigerian telecommunications company.
Mike Adenuga has an estimated net worth of USD 6.4 billion, according to Forbes Magazine, in 2022.
Bloomberg ranked him as Nigeria’s man and Africa’s Richest Man in 2014, with a net worth of about USD 6.4 billion or N78 trillion (Naira).
7. Nathan Kirsh – 4.7 billion USD
He is a Swazi billionaire businessman. He heads the Kirsh Group, which holds a majority stake in New York cash and carry operation Jetro Holdings, owner of Restaurant Depot and Jetro Cash & Carry.
The Group also has equity and investments in Australia, Eswatini, the UK, the US, and Israel.
8. Abdulsamad Rabiu – 4.9 billion USD
He is a Nigerian billionaire. He is the founder and Chairman of BUA Group, which operates in cement production, real estate, sugar cane plantations, and retail outlets across Nigeria.
In 2021 Forbes Magazine listed Mr. Riches Person In The World (2021), revealing that he is worth USD 4.9 billion.
9. Naguib Sawiris 3.2 billion USD
He is an Egyptian billionaire and businessman.
Sawiris is the Chairman of Weather Investments, the company’s parent, and Orascom Telecom Media and Technology Holding Chairman.
He is the eldest in his family and the brother of Nassef Sawiris. Hassan Sawiris has a net worth of 3.2 billion USD.
In 2021 he was placed on the Forbes Richest People In Africa list ranking number five with an estimated value of USD 800m behind Aliko Dangote ($12 billion) and Nicky Oppenheimer (estimated for both gold mines at about $14 billion.
10. Patrice Motsepe 3.1 billion USD
Number 10 on our list of richest people in Africa is Patrice Motsepe.
Patrice Motsepe is a South African mining magnate and one of the wealthiest people in Africa, with an estimated net worth of USD 3.1 billion.
He was born on 28 January 1962 to humble beginnings. He eventually started working his way up through various jobs, including working in the mines himself before founding the coal mine company Exxaro where he remains Chairman.
In 2008 Patrice became the first Black African to appear on the Forbes Richest People in Africa List, ranking 335 out of 400 billionaires worldwide. He resides in Sandton, Johannesburg, with his wife, Tshepo Motsepe, and three children.
Top 10 Richest People in Africa
Here is a summary table of the Top 10 wealthiest people in Africa:
| Person Name | Net Worth in Billions (USD) | Country |
| Aliko Dangote | 11.5 | Nigeria |
| Nassef Sawiris | 8.3 | Egypt |
| Nicky Oppenheimer & family | 8 | South Africa |
| Johann Rupert & family | 7.1 | South Africa |
| Mike Adenunga | 6.1 | Nigeria |
| Abdulsamad Rabiu | 4.9 | Nigeria |
| Isaad Rebrab & family | 4.8 | Algeria |
| Nathan Kirsh | 4.7 | Eswatini |
| Naguib Sawiris | 3.2 | Egypt |
Source: Statista
Top 20 Richest People in Africa
Here is an extended table list that includes the Top 20 wealthiest people in Africa:
| Person Name | Net Worth in Billions (USD) | Country |
| Aliko Dangote | 11.5 | Nigeria |
| Nassef Sawiris | 8.3 | Egypt |
| Nicky Oppenheimer & family | 8 | South Africa |
| Johann Rupert & family | 7.1 | South Africa |
| Mike Adenunga | 6.1 | Nigeria |
| Abdulsamad Rabiu | 4.9 | Nigeria |
| Isaad Rebrab & family | 4.8 | Algeria |
| Nathan Kirsh | 4.7 | Eswatini |
| Naguib Sawiris | 3.2 | Egypt |
| Koos Bekker | 3 | South Africa |
| Patrice Motsepe | 2.9 | South Africa |
| Mohamed Mansour | 2.5 | Egypt |
| Aziz Akhannouch & family | 1.9 | Morocco |
| Mohamed Al-Fayed | 1.8 | Egypt |
| Mohammed Dewji | 1.6 | Tanzania |
| Strive Masiyiwa | 1.5 | Zimbabwe |
| Youssef Mansour | 1.5 | Egypt |
| Othman Benhelloun & family | 1.3 | Morocco |
| Michiel Le Roux | 1.1 | South Africa |
| Yasseen Mansour | 1.1 | Egypt |
Source: Statista
