For the 13th consecutive year, Nigerian business magnate Aliko Dangote has secured the top spot as Africa’s richest person, according to Forbes magazine.
The annual list tracks the wealth of billionaires residing in Africa or having their primary business operations on the continent.
Despite Nigeria’s economic challenges, including currency devaluation and rising prices following recent policy changes, Dangote’s net worth increased by $400 million in the past year, reaching $13.9 billion.
Aliko Dangote, aged 66, has amassed his wealth primarily through ventures in cement and sugar. Notably, he opened an oil refinery in Lagos last year.
The Forbes list, featuring 20 billionaires, highlights Africa’s challenging environment for building and maintaining substantial fortunes. The combined net worth of the listed billionaires stands at $82.4 billion.
Johann Rupert, a South African luxury goods magnate, maintained second on the list. At the same time, Nicky Oppenheimer, also from South Africa and a former diamond miner, secured the third spot.
South Africa dominates the list with six billionaires, followed by Egypt with five, Nigeria with four, and Morocco with two. Algeria, Tanzania, and Zimbabwe each have one billionaire.
Despite the economic difficulties many countries face, African billionaires continue to navigate challenges to sustain and grow their wealth.
