The American magazine Forbes has published the list of the richest people in Africa for the year 2020. The ranking only takes into account African billionaires actually residing on the continent or who have their main activities in Africa. Fortunes were calculated using stock prices for the purpose of establishing the amount of net worth of companies. The latter is itself valued at the exchange rate in effect at the close of business on Friday January 10, 2020.
1. ALIKO DANGOTE
ALIKO DANGOTE remains the richest African with a net worth totaling $ 10.1 billion. Originally from Nigeria, Aliko Dangote is 62 years old. He is the founder and CEO of the Dangote group. Dangote Cement is the largest cement producer in Africa.
The company produces 44 million metric tons per year with the prospect of increasing this production by 33% by 2020. The companies of the group are present on almost the entire continent. His fortune comes from the cement, salt, flour and sugar manufacturing companies he owns. They are listed on the stock exchange.
He has held this position for 9 years.
2. NASSEF SAWIRIS
The second richest man in Africa is NASSEF SAWIRIS with a wealth of $ 8 billion. Of Egyptian nationality, he is the last of three sons in the family of Onsi Sawiri, founder of the Orascom group and is 59 years old. In 1998, he became head of the group’s construction division, Orascom Construction Industries (OCI). In 2015, he divided the OCI company into two entities OCI and Orascom Construction.
Under his leadership, OCI becomes one of the largest fertilizer companies in the world. It is listed on the Dubai International Financial Exchange (Nasdaq DIFX), as well as on the Euronext Amsterdam Stock Exchange. In addition, Orascom Construction is converting into engineering and construction. He also owns shares in the Lafarge Holcim group and Adidas.
3. MIKE ADENUGA
The third place in the ranking is occupied by MIKE ADENUGA with a net wealth of 7.7 billion dollars. A 67-year-old Nigerian businessman, he is Nigeria’s second largest wealth. In 1990 he received a drilling license and the following year, the first indigenous Conoil oil company, of which he was the owner, delivered consolidated oil in commercial quantities to the deep waters of the southwest of the State of Ondo.
In 2003, he received a GSM license, his telecoms company Globacom expanded rapidly. Today Globacom is the second largest telecommunications operator in Nigeria behind MTN, it is present in Ghana and Ivory Coast with prospects for expansion in other West African countries. Most of his fortune comes from his telecommunications companies and the oil block.
4. NICKY OPPENHEIMER
NICKY OPPENHEIMER with also a wealth of 7.7 billion dollars, occupies the fourth position. A South African national, he is a 75-year-old businessman. Nicky Oppenheimer is the President of the company “De Beers” specializing in the extraction and processing of diamonds and of the Anglo American mining company created by his grandfather.
5. JOHANN RUPERT
JOHANN RUPERT with 6.5 billion dollars is the fifth African wealth. The South African businessman is 69 years old. He is the chairman of Richemont luxury companies based in Switzerland. He owns 7% of the shares of Remgro Limited, of which he is also the chairman, as well as 25% of Reinet investments, an investment company based in Luxembourg.
6. REBRAB ISSAD
The 75-year-old REBRAB ISSAD has a fortune of $ 4.4 billion. in 1971, he took shares in the metallurgical company Sotecom. In 1988, he created Metal Sider, a company specializing in the steel industry, which enabled him to start building up his wealth in the 1990s. In 1998, he created the Cevital group, which among other things in the marketing of vehicles, mass distribution, agriculture, construction materials, agrifood which constitutes the main growth pole of the group through the manufacture of preserves, fruit juices, vegetable oil and sugar (it is the largest refinery in Africa).
7. MOHAMED MANSOUR
The seventh richest African is Egyptian businessman and politician MOHAMED MANSOUR, whose wealth stands at $ 3.3 billion. The 72-year-old is chairman of the Mansour Group, Egypt’s second largest company in terms of turnover. In 1975, Mohamed Mansour established the General Motors dealership in Egypt and later became one of the largest distributors globally. The group is also responsible for the distribution of Caterpillar equipment in Egypt and seven other African countries.
8. ABDULSAMAD RABIU
In eighth place, we find the Nigerian ABDULSAMAD RABIU with a wealth of 3.1 billion dollars. Aged 59, he has been at the head of family businesses since 1984. First an import-export trader (food, steel, etc.), he launched into the agro-industry with the acquisition in 1991 of BUA Oils and Golden Oil in 2000. In 2002, through the acquisition of CCNN, it made its entry into cement. He diversified his activities with sugar refining, flour milling, logistics and in 2008, he founded BUA Cement the heart of his current empire.
9. NAGUIB SAWIRIS
Ninth place is occupied by NAGUIB SAWIRIS with $ 3 billion in wealth. The 65-year-old entrepreneur, politician and businessman is the older brother of Nassef Sawiris. He joined the Orascom group in 1979 and developed the Telecommunications branch. He is a member of the board of directors of the Wind Telecom and Global Telecom Holding groups, subsidiaries of the Orascom group.
10. PATRICE MOTSEPE
The top 10 base is occupied by the 58-year-old South African PATRICE MOTSEPE with a fortune of $ 2.6 billion. He is the founder and executive chairman of the African Rainbow Mineral mining company specializing in gold, ferrous and non-ferrous metals, and platinum. He is also a member of one of the world’s largest mining companies, Harmony Gold Mining Company Limited, and of the South African insurance group Sanlam Limited.