Africa is endowed with so many resources including natural and human potentials to harness the available resources. In as much as the continent is still lagging behind when it comes to technology, it is possible that in the future, the richest people in the world may come from Africa. In the recent years, we have seen Africans rapidly climb up the wealth ladder. A good example is Aliko Dangote who was worth about $11.2 billion as of March 2013 after a period of one year (April 2013) is worth $16.1 billion. We have already profiled the 10 of the wealthiest women in Africa in one of our articles. You should note that the list of wealthiest men in Africa keeps changing since wealth is not tied down to any particular person so who are the richest people in Africa? this rich list is full of people who have distinguished themselves in various businesses to earn their reputation on this list. Answers Africa brings you the wealthiest men in Africa.
Richest Men in Africa
10. Mohamed Mansour
Mohamed Mansour is one of the richest men in Africa. He is also the 3rd richest man in Egypt as at April 2013. His net worth is $2.2bn. His company Mansour Group is rapidly expanding outside of Egypt. More than half of Mansour Group’s revenues now come from outside Egypt. His company’s operations span internationally across several major industrial sectors and can be summarized into five main business divisions: automotive, capital markets, consumer and retail, industrial equipment, and services. All these have positioned him as one of the men in Africa. Interests in Egypt include Philip Morris and McDonald’s franchises.The Mansours also own the largest supermarket chain, Metro, which recently received an offer from Emirati billionaire Majid Al Futtaim for up to $300 million.
9. Naguib Sawiris
Naguib Sawiris is the eldest son of Egyptian billionaire Onsi Sawiris who established Orascom Group – Egypt’s largest private sector employer and the most capitalized on Cairo and Alexandria’s stock exchange. He is Egypt’s second richest man and one of the top 10 Africa’s richest men. He is known as one of Egypt’s telecoms mogul. He sold almost all his shares in Russian telecom giant VimpelCom, which had earlier acquired his company’s Sawiris’ Orascom Telecom in a cash and stock transaction in 2011. Naguib Sawiris started Orascom Telecom Media and Technology, a 20,000 employees company that also manages 11 GSM operators around the world. His company has more than 70% stake in Koryolink, North Korea’s only cell phone network. He recently bought a Canadian mining company La Mancha from French nuclear giant Areva for $317 million through his weather investment company. He joined politics in 2011 and has been a vocal opponent of the Muslim Brotherhood. Naguib Sawiris net worth is $2.5 billion dollars.
8. Patrice Motsepe
Patrice Motsepe is one of the wealthiest men in Africa and the first and only South Africa’s black billionaire. He is regarded as a mining magnet and his company African Rainbow Minerals (ARM) has interests in platinum, nickel, chrome, iron, manganese, coal, copper and gold. He also owns shares in Harmony Gold, through his company ARM. Patrice Motsepe was born in Soweto and later trained as a lawyer. He is a self made African billionaire who started by buying low-producing gold mine shafts in 1994 and turned them profitable using a lean management style. He also holds a equity in Sanlam, another publicly traded financial services company outside the city of Cape Town. Some of his non “coporate” investments include the Mamelodi Sundowns Football Club in which he is the president an owner. His net worth is $2.9bn
7. Othman Benjelloun
Othman Benjelloun is sitting on a business empire worth $3.1bn. As one of the richest Africans, he started climbing the wealth ladder through his father who was a large shareholder in a small Moroccan insurance company hence his business sector is in banking and insurance sector. In 1988, Othman took over the insurance business and built privately-held RMA Watanya into a leading insurer before he diversified into banking. In 2010 his publicly-traded company: BMCE Bank acquired a majority stake in Bank of Africa and this has given them the leverage to operate in more than a 12 countries in Africa. FinanceCom which is his holding company also has interests in telecom, airlines and information technology.
6. Christoeffel Wiese
Christoeffel Wiese is South Africa’s third richest man and the 6th richest man in Africa. His net worth stands at $3.5 bn. The source of his wealth is retail business and is the chairman as well as the largest single shareholder of Africa’s biggest retailer store and low-priced supermarket chain Shoprite. He also has large stakes in Pepkor, a large discount wears, including clothes, shoes and textiles chain where he is executive chairman. Christoeffel Wiese also invests in other companies. He has significant stakes in seven publicly traded companies that have done so well in the last one year worth approximately $500 million more than they were about a year ago. Part of Christoeffel Wiese’s achievements is that he converted a South African farm estate into a five-star hotel, Lanzerac Manor & Winery and this has launched him into becoming a winery expert.
5. Mike Adenuga
Mike Adenuga is the second richest man in Nigeria with a net worth of $4.7 bn. He is a telecom giant who built a fortune in mobile telecom and oil production. Mike Adenuga is the founder and president of Glo a mobile telecom company that has grown to become Nigeria’s second largest mobile telecom network. he started as a cab driver and security guard in USA to fund his studies. He made his first million at age 26 selling lace and distributing Coca-Cola in Nigeria. However, he lost two telecom licenses, a bank, fled into exile and still went on to become one of the richest black men in the world. His Conoil Producing is one of Nigeria’s largest independent exploration companies, with a production capacity of 100,000 barrels of oil per day. Adenuga made his first fortune at age 26 in the 1970s by distributing lace and other materials, but he hit it big during the military regime of former President Ibrahim Babangida. Adenuga is widely believed to be a proxy investor for former President Babangida.
Glo has an estimate of over 25 million subscribers (June 2009) and it is a 100 percent Nigerian owned company with presence in the Republic of Benin and recently acquired licenses to start businesses in Ghana and the Ivory Coast. Glo recently built an $800 million high-capacity fibre-optic cable known as Glo-1, a submarine cable from the United Kingdom to Nigeria.
4. Nassef Sawiris
Nassef Sawiris is the 4th richest man in Africa and runs Orascom Construction Industries which is Egypt’s most valuable publicly-traded company. He is into construction sector and also has a significant stake in cement company Lafarge. He oversaw the construction activities of Orascom since 1990. He was also a board member of NASDAQ Dubai from July 2008 – June 2010 where he is still a board member, and currently sits on the boards of Besix (Belgium) and NNS Holding (Luxembourg). He is worth $6.5bn.
3. Nicky Oppenheimer
Nicky Oppenheimer, one of the richest men in South Africa with a net worth of $6.5 bn is a diamond magnet who made a pivotal decision in November 2011 to sell his family’s 40% stake in De Beers, the world’s largest diamond producer, to to Anglo American, which was founded by his grandfather, for $5.1billion. Anglo American before the deal already owned 45% of DeBeers while the remaining 15% is owned by the government of Botswana. Nicky Oppenheimer’s other interests apart from making money include flying helicopters, cricket and conservation. He owns the Tswalu Kalahari Reserve which is regarded as the largest private game reserve in South Africa.
2. Johann Rupert
Johann Rupert’s is the 2nd richest man in Africa and has grown his fortune by 30% just over the past one year. He is the chief of luxury goods outfit – Compagnie Financiere Richemont. His company’s stock has increased more than 50% on a per year basis. He also has stakes in investment holding companies Remgro and Reinet. He is an avid golfer with a net worth of $6.6bn. He is Chancellor of the University of Stellenbosch, in South Africa’s wine country where he has an office. With family relatives, he owns two of South Africa’s best known vineyards.
1. Aliko Dangote
The richest man in Africa is Aliko Dangote. He is also the world’s richest black man. His total net worth stands at $16.1 bn as at March, 2013 and is ranked by Forbes Magazine as the 43rd richest person in the world and the richest man in Africa Dangote started increasing his fortune more than three decades ago when he started by trading in commodities like cement and conglomerates like flour and sugar with a loan he received from his maternal uncle. He eventually started production of these products and went on to build the Dangote Group, a company that has grown to become West Africa’s largest publicly-listed conglomerate company, which now owns sugar refineries, salt processing facilities and his Lagos-based company is Africa’s biggest cement manufacturer and it also makes enormously popular food products such as noodles, spaghetti and milk. Note that this list only features the richest men in Africa who made their wealth mostly through legitimate means.