As of 2024, the list of the top 10 richest people in Africa showcases a diverse array of industries and nationalities, reflecting the continent’s economic dynamism and entrepreneurial spirit. Here are the individuals who top the list:
1. Johann Rupert & Family
With a net worth of $10.3 billion, Rupert, a South African businessman, is the chairman of the Swiss-based luxury goods company Richemont, known for brands like Cartier and Montblanc. In addition to his luxury goods empire, Rupert holds significant stakes in Remgro and Reinet, two investment firms with a diverse portfolio including banking, healthcare, and consumer products. Rupert’s strategic investments and leadership in the luxury market have solidified his position as the wealthiest individual in Africa. His influence extends beyond business as he is actively involved in philanthropy, focusing on education and conservation efforts across the continent.
2. Aliko Dangote
Worth $9.5 billion, Dangote from Nigeria is renowned for his conglomerate, Dangote Group, which has substantial interests in cement, sugar, and flour. Dangote Cement is the largest cement producer in Africa, contributing significantly to his wealth. His ventures have not only made him the richest man in Nigeria but also a pivotal figure in the African economy. Dangote’s ambition to diversify his portfolio has seen him expand into oil refining, with the Dangote Refinery set to be one of the largest in the world upon completion. His business acumen and investments have created thousands of jobs and spurred economic growth in Nigeria and beyond.
3. Nicky Oppenheimer & Family
With a net worth of $9.4 billion, Oppenheimer is a South African diamond magnate. His wealth primarily comes from his former stake in De Beers, which he sold to Anglo American in 2012 for $5.1 billion. This strategic move not only diversified his wealth but also allowed him to invest in other ventures. The Oppenheimer family has a long history in the diamond industry, and Nicky has continued this legacy through his conservation efforts and investments in sustainable agriculture. His commitment to philanthropy is evident through his support for education and wildlife conservation initiatives across Southern Africa.
See also: Who is the richest woman in Africa in 2024?
4. Nassef Sawiris
An Egyptian businessman with a net worth of $8.7 billion, Sawiris is heavily invested in construction and fertilizer production. He owns a significant stake in OCI N.V., a global nitrogen fertilizer producer, and has various other investments, including in Adidas and Aston Villa Football Club. Sawiris’s strategic investments in diverse sectors have not only increased his wealth but also had a significant impact on the industries he is involved in. His leadership in OCI N.V. has positioned the company as a key player in the global agricultural sector, ensuring food security through efficient fertilizer production. Additionally, his investments in sports and fashion have broadened his influence on a global scale.
5. Mike Adenuga
Worth $6.9 billion, Adenuga from Nigeria built his fortune in telecom and oil. He is the founder of Globacom, Nigeria’s second-largest telecom operator, and has substantial stakes in oil exploration through Conoil. Adenuga’s entrepreneurial spirit and strategic investments have positioned him as one of the wealthiest individuals in Africa. His contributions to the telecom industry have revolutionized communication in Nigeria, providing affordable and accessible services to millions. In the oil sector, his exploration and production activities have contributed significantly to Nigeria’s economy. Adenuga’s philanthropic efforts are also noteworthy, with significant donations to education and health initiatives across Nigeria.
6. Abdulsamad Rabiu
A Nigerian businessman with a net worth of $5.9 billion, Rabiu heads BUA Group, a conglomerate with interests in cement, sugar, and real estate. His strategic expansions in these sectors have significantly boosted his wealth. Rabiu’s BUA Group is a major player in Nigeria’s industrial sector, producing essential commodities that support the country’s infrastructure and food security. His investments in cement have led to the establishment of some of the largest cement plants in Nigeria, reducing the country’s reliance on imports. Rabiu’s business success is complemented by his philanthropic endeavors, including substantial contributions to healthcare and education initiatives.
7. Nathan Kirsh
From Eswatini (Swaziland), Kirsh has a net worth of $5.8 billion. His wealth comes from his investments in retail and real estate, notably owning a large stake in Jetro Holdings, a wholesale distributor based in the United States. Kirsh’s business acumen has allowed him to amass significant wealth through strategic investments in high-growth industries. His real estate ventures span across multiple countries, contributing to his diversified portfolio. Kirsh is also known for his philanthropic efforts, particularly in supporting educational initiatives and providing scholarships to underprivileged students in Eswatini.
8. Issad Rebrab & Family
An Algerian businessman with a net worth of $4.6 billion, Rebrab is the founder and CEO of Cevital, the largest private company in Algeria, with interests in food processing, retail, and industry. Rebrab’s vision and leadership have transformed Cevital into a major player in the Algerian economy. His investments in food processing have not only ensured the availability of essential products in Algeria but also created thousands of jobs. Rebrab’s commitment to innovation and sustainable practices has positioned Cevital as a leader in the industry. Additionally, his philanthropic activities focus on education and healthcare, improving the quality of life for many Algerians.
9. Mohamed Mansour
An Egyptian businessman worth $3.6 billion, Mansour heads the Mansour Group, which has diverse interests in automotive, consumer goods, and retail. He also has significant investments in technology and real estate. Mansour’s leadership has driven the growth of the Mansour Group, making it one of the largest conglomerates in Egypt. His investments in the automotive industry, through General Motors dealerships, have significantly contributed to the group’s revenue. Mansour’s strategic expansion into technology and real estate sectors has further diversified his portfolio. His philanthropic efforts are notable, with significant contributions to education and healthcare initiatives in Egypt.
10. Naguib Sawiris
Also from Egypt, Sawiris has a net worth of $3.3 billion. He is a telecom tycoon with investments in media and technology. He played a crucial role in the development of Orascom Telecom Holding, which became one of the largest mobile phone operators in the world. Sawiris’s vision and entrepreneurial spirit have driven his success in the telecom industry. His investments in media have also positioned him as a key player in the industry, influencing public opinion and providing platforms for free speech. Sawiris’s philanthropic endeavors focus on social development, supporting initiatives that promote education, healthcare, and economic empowerment.
These billionaires not only represent immense personal wealth but also significant contributions to their respective industries and the broader African economy. Their investments and business acumen continue to shape the economic landscape of the continent, driving growth and development across various sectors.