The 15 Richest People in Africa (2020 Forbes List)

Africa is the second-largest and the second-most-populous continent in the world. It is also home to some of the richest people around the globe. In fact, some of the richest people in Africa are featured in the 2019 World Billionaires list by Forbes business magazine.

According to Forbes, Africa’s wealthiest person is the 136th richest individual in the world and Africa’s second richest sits at number 156 on the World Billionaires list.

Most of the richest people in Africa mainly come from Nigeria, South Africa, and Egypt. So, who are these top African tycoons and where do they get their wealth? Keep reading to find out.

15. Othman Benjelloun & family

Net worth: $1.8B

Source of Wealth: banking, insurance

Country: Morocco

Age: 86

Forbes 2019 Billionaires List: #1281

othman-benjelloun

Othman Benjelloun is the owner and chairman of the BMCE Group, an international company based in Morocco. The group has over 10 subsidiaries including BMCE bank, insurer RMA Watanya, Africa Morocco Link (shipping company) and FinanceCom (holding company).

BMCE bank is a large commercial bank in Morocco and operates over 697 branches in Morocco alone and 560 branches in the rest of Africa. It generates revenues in excess of $1.8 billion, with over $280.8million in net income and has assets valued at over $30 billion.

Othman has a fortune of $1.8 billion which positions him as the 3rd richest man in Morocco and the 15th wealthiest person in Africa.

14. Mohammed Dewji

Net worth: $1.9B

Source of Wealth: diversified

Country: Tanzania

Age: 44

Forbes 2019 Billionaires List: #1227

richest-people-africa-mohammed-dewji

Mohammed Dewji is the youngest billionaire in Africa. He’s the CEO of METL Group.

METL is Tanzania’s largest privately-owned conglomerate founded by Dewji’s father in the 1970s. Dewji is also a former politician and philanthropist.

METL Group has interests in various sectors including trading, real estate, insurance, agriculture, food and beverages, transport and logistics, mobile telephony and finance.

It operates in 11 countries and contributes 3.5% of Tanzania’s Gross Domestic Product (GDP).

13. Aziz Akhannouch & family

Net worth: $2.1B

Source of Wealth: petroleum, diversified

Country: Morocco

Age: 58

Forbes 2019 Billionaires List: #1168

aziz-akhannouch

Aziz is a Moroccan business magnate and politician. He is the CEO and chairman of Akwa Group, a Moroccan multinational company based in Casablanca, Morocco. He inherited Akwa from his father.

The company is largely involved in the gas and oil industry but also focuses on real estate, hotels, tourism and telecommunications industries. It generates revenues of more than $3 billion.

Aziz has an estimated fortune of $2.1 billion making him one of the richest people in Africa.

12. Patrice Motsepe

Net worth: $2.3B

Source of Wealth: mining, Self-made

Country: South Africa

Age: 57

Forbes 2019 Billionaires List: #962

richest-people-africa-patrice-motsepe

Patrice Motsepe is a South African mining businessman and billionaire. He’s the founder and executive chairman of African Rainbow Minerals (ARM).

ARM is a mining company based in South Africa with interests in ferrous metals, gold, platinum and base metals. ARM owns a 20% stake of Harmony Gold, the world’s 12th biggest mining firm.

Patrice also has stakes in Sanlam, a leading financial services company and owns the Mamelodi Sundowns Football Club.

He became a billionaire in 2008 and was the first black African on the Forbes list.

11. Strive Masiyiwa

Net worth: $2.3B

Source of Wealth: telecom, Self-made

Country: Zimbabwe

Age: 58

Forbes 2019 Billionaires List: #916

richest-people-africa-strive-masiyiwa

Strive Masiyiwa is a London-based Zimbabwean businessman, philanthropist, and entrepreneur. He is the founder and executive chairman of multinational Telecommunications, Media and Technology group, Econet Wireless.

The group has operations in Africa, South America, Europe, and the East Asia Pacific Edge. It provides products and services in mobile payment, broadband, optical fiber, satellite networks, mobile and telephony services.

Econet Wireless’ subsidiaries include Econet Wireless Africa, Econet Enterprises, Liquid Telecom Group, Econet Media, Econet Wireless International, and Econet Global. It generates revenues of more than $5billion.

10. Mohamed Mansour

Net worth: $2.3B

Source of Wealth: Diversified, Self-made

Country: Egypt

Age: 71

Forbes 2019 Billionaires List: #1008

mohamed-mansour

Mohamed Mansour is an Egyptian business magnate and former politician. He is the chairman of Mansour Group, a $6 billion conglomerate that’s the 2nd largest company in Egypt by revenue.

Mansour started General Motors dealerships in Egypt, later becoming one of GM’s largest distributors in the world. The Mansour Group also has executive distribution rights for Caterpillar equipment in Egypt and 7 other countries in Africa.

Mohamed Mansour is a former Egypt’s transport minister from 2006 to 2009.

Also Read: The 10 Youngest Billionaires in the World

9. Isabel dos Santos

Net worth: $2.3B

Source of Wealth: Investments

Country: Angola

Age: 46

Forbes 2019 Billionaires List: #1008

richest-people-africa-isabel-dos-santos

Isabel dos Santos is the richest woman in Africa and one of the wealthiest people on the continent. She’s the eldest child of Angola’s former president, Jose Eduardo dos Santos.

According to research done by Forbes, Isabel acquired her wealth by holding stakes in firms doing business in Angola, insinuating that her fortune comes almost entirely from her family’s connections and power.

In November 2015, BBC named Isabel dos Santos among the 100 most powerful women in the world. She owns shares of Portuguese firms, including telecom and cable TV company Nos SGPS.

8. Koos Bekker

Net worth: $2.3B

Source of Wealth: Media, Investments, Entertainment, Self-Made

Country: South Africa

Age: 66

Forbes 2019 Billionaires List: #1008

koos-bekker

Koos Bekker is the chairman and former CEO (retired in 2014) of Naspers, an international internet and media group based in South Africa.

Naspers offers services ranging from e-commerce, internet communication, gaming and entertainment and has its operations in 130 countries.

Koos Bekker led Naspers to invest in Chinese media and Internet company Tencent, the most profitable investment he made on companies elsewhere. Naspers has a 31% stake at Tencent. Koos serves as a non-executive director at the Chinese firm.

7. Naguib Sawiris

Net worth: $2.9B

Source of Wealth: telecom

Country: Egypt

Age: 64

Forbes 2019 Billionaires List: #775

richest-people-africa-naguib-sawiris

Brother to billionaire Nassef Sawiris and a scion of Egypt’s wealthiest family, Naguib Sawiris is one of the richest people in Africa. He is an Egyptian billionaire magnate with an estimated fortune of $2.9 billion.

He built a fortune in telcom, selling Orascom Telecom in 2011 to Russian telecom company Veon (formerly VimpelCom) in a multibillion-dollar deal.

Naguib Sawiris is the chairman of Orascom Investment Holding previously called Orascom Telecom Media & Technology.

6. Issad Rebrab & family

Net worth: $3.7B

Source of Wealth: food

Country: Algerian

Age: 75

Forbes 2019 Billionaires List: #568

issad-rebrab

Isaac Rebrab is an Algerian billionaire businessman and the 6th richest individual in Africa. He is the founder and CEO of the Cevital group, the largest private company in Algeria. Cevital has interests in steel, food, electronics, and agribusiness.

Cevital owns one of the largest sugar refineries in the world with a capacity to produce 2 million tons yearly. Its Food Processing industry is the largest private complex in Algeria.

Cevital also owns European firms including French home appliances maker Groupe Brandt, a German water purification company and an Italian steel factory.

5. Johann Rupert & family

 Net worth: $5.3 billion

Source of Wealth: Luxury goods

Country: South Africa

Age: 69

Forbes 2019 Billionaires List: #317

johann-rupert

Johann Rupert is a South African business magnate and eldest son of business mogul Anton Rupert. He is worth $5.3 billion making him the 5th richest individual in Africa and the second wealthiest person in South Africa.

Johann is the founder and current chairman of Swiss-based luxury-goods company Richemont and the South Africa-based company Remgro. Richemont produces and sells watches, jewelry, firearms, pens, accessories, clothing and leather goods.

Richemont generates $12.34 billion in revenues. Remgro has subsidiaries in different sectors such as banking, healthcare, insurance, media and sport, and infrastructure.

4. Nassef Sawiris

Net worth: $6.3 billion

Source of Wealth: chemicals and construction

Country: Egypt

Age: 58

Forbes 2019 Billionaires List: #252

nassef-sawiris

According to Forbes, the 4th richest person in Africa is Nassef Sawiris with wealth amassing to $6.3 billion.

Nassef is the CEO at Orascom Construction Industries and Executive chairman of Aston Villa FC. Orascom Construction is a building and engineering company and trades on the Cairo exchange and Nasdaq Dubai.

Nassef Sawiris also runs OCI, one of the largest nitrogen fertilizer manufacturers in the world, with plants in Iowa and Texas. He also holds stakes in cement giant Lafarge Holcim and Adidas.

Also Read: The Richest People in the World

3. Nicky Oppenheimer & family

Net worth: $7.4 billion

Source of Wealth: diamonds

Country: South Africa

Age: 73

Forbes 2019 Billionaires List: #200

nicky-oppenheimer

Nicky Oppenheimer is a South African businessman and philanthropist. He is worth an estimated $7.4 billion.

Nicky is the former chairman of De Beers diamond mining firm and of its subsidiary, the Diamond Trading Company. He’s a former deputy chairman of Anglo American (an international mining company based in Johannesburg, South Africa)

Nicky owns at least 720 square miles of conservation land across South Africa, Zimbabwe and Botswana.

2. Mike Adenuga

Net worth: $9.4 billion

Source of Wealth: Telecom, oil

Country: Nigeria

Age: 66

Forbes 2019 Billionaires List: #156

richest-people-africa-mike-adenuga

Nigerian billionaire businessman Mike Adenuga is the second wealthiest person in Nigeria and in Africa. He’s also ranked the world’s 156th richest individual and the second wealthiest black man in the world.

Adenuga is the founder, owner, and chairman of Globacom Limited, a Nigerian giant telecommunications company. He also has stakes in the Equatorial Trust Bank and the oil exploration industry.

Globacom is the third-largest telecom operator in Nigeria with over 43 million subscribers. It has 3,379 employees and generates over $1.2 billion in revenue.

Mike Adenuga first became a millionaire at the age of 26 while distributing soft drinks and selling lace.

1. Aliko Dangote

Net worth: $10.6 Billion

Source of Wealth: Cement, sugar, flour, salt, steel, oil, and gas

Country: Nigeria

Age: 62

Forbes 2019 Billionaires List: #136

richest-people-africa-aliko-dangote

Aliko Dangote is a Nigerian business tycoon, entrepreneur, and investor. He is the founder, owner, President and CEO of Dangote Group. Dangote is the wealthiest person in Africa and the 136th richest person in the world.

Dangote Group is involved in the manufacture, distribution, and importation of various consumer goods including sugar, rice, fisheries, flour, cement, salt. It has its headquarters in Lagos, Nigeria.

In 2013, he overtook Mohammed Hussein Al Amoudi to become the richest individual of African origin in the world.

Dangote group generates revenues in excess of $4.1 billion and is the largest conglomerate in West Africa and one of the biggest in Africa.

The company has 30,000 employees, owns and controls over 18 subsidiaries such as Dangote Cement which operates in 10 African countries.


That’s the list of the 15 richest people in Africa. You can leave a comment below about this list.

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