Chairman and CEO of Dangote Group, Aliko Dangote, remains at the top of the List of Africa’s Richest released by American Magazine, Forbes, on Tuesday 22 January, 2024.
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| Nigerian Businessmen, Femi Otedola and Aliko Dangote, both are on the 2024 Forbes List of Africa’s Richest |
According to forbes.com:
The fortunes of Africa’s wealthiest people have rebounded slightly in the past 12 months, reversing the decline in their fortunes from a year ago, though they are still off their all-time highs. The 20 billionaires on the 2024 Forbes list of Africa’s Richest are worth a combined $82.4 billion. That’s up $900 million from last year’s $81.5 billion.
All of that gain can be attributed to the return of Nigeria’s Femi Otedola, who last appeared on the Forbes Africa list in 2017 when he held a controlling stake in fuel distributor Forte Oil. Otedola phased out his oil investments during a government push to privatize the country’s energy business in 2013, using a Forte subsidiary to purchase Geregu, a public power generation plant. He owned about 90% of Geregu when it was listed on the Nigerian exchange’s Main Board in 2022, but has since sold shares to institutional investors, which include Afreximbank’s Fund for Export Development in Africa and the State Grid Corporation of China. His 73% stake in Geregu is worth more than $850 million, about three-quarters of his $1.1 billion fortune, which puts him at No. 20 on the list.
List of 20 Africa’s Richest:
1. Aliko Dangote | $13.9 B | Manufacturing
2. Johann Rupert & Family | $10.1 B | Fashion & Retail
3. Nicky Oppenheimer & Family | $9.4 B | Metals & Mining
4. Nassaf Sawiris | $ 8.7 B | Construction & Engineering
5. Mike Adenuga | $6.9 B | Diversified
6. Abdul Samad Rabiu | $5.9 B | Diversified
7. Naguib Sawiris | $3.8 B | Telecom
8. Mohamed Mansour | $3.2 B | Diversified
9. Koos Bekker | $2.7 B | Media & Entertainment
9. Patrice Motsepe | $2.7 B | Metals & Mining
11. Issab Rebrab & Family | $2.5 B | Food & Beverage
12. Mohammed Dewji | $1.8 B | Diversified
12. Strive Masimiya | $1.8 B | Telecom
14. Aziz Akhannouch & Family| $1.7 B | Diversified
15. Othman Benjelloun & Family | $1.4 B | Finance & Investment
16. Youssef Mansour | $1.3 B | Diversified
17. Yasseen Mansour | $1.2 B | Diversified
17. Christoffel Wiese | $1.2 B | Fashion & Retail
19. Michiel Le Roux | $1.1 B | Finance & Investment
19. Femi Otedola | $1.1 B | Energy
