Investing in manufacturing and telecommunication sectors connecting the regions of Africa has prevailed to be highly prosperous, leaving prominent people scattered across the continent. Despite the billions of population and limited resources, few individuals have thrived to contribute to the commonwealth and assets in Africa. These individuals are profound in the heart of the business and drawing from different countries, we have made the Top 10 richest people in Africa presently the most recognized by their Net Worth aggregation in 2022.
10. Strive Masiyiwa— $ 2.8b Net Worth
Strive Masiyiwa is a Zimbabwean philanthropist, businessman, and London-based billionaire. After getting a degree in Electrical Engineering, he worked in a telecom company in Britain for a bit, he went back to Zimbabwe to build his very own telecombusiness(Econetwireless) which has expanded to Econet Global that comprises groups and investments from 20 different countries.
Presently, Econet wireless has become a major business dominating the Zimbabwe economy, EconetWirelessNigeria (now Airtel Nigeria ) was one of the key businesses he established through partnerships. In 2015, Forbes Magazine named Masiyiwa in the 10 Most Powerful Men in Africa list for 2015. In May 2021, Masiyiwa was named by Fortune Magazine on the list of the World’s 50 Greatest Leaders.
9. Patrice Motsepe— $3.1b Net-Worth
Patrice Tlhopane Motsepe is a South African mining billionaire businessman. He is the founder and executive chairman of African Rainbow Minerals(now ARMgold), which has interests in gold, ferrous metals, base metals, and platinum. Motsepe is also the owner of Mamelodi Sundowns F.C. — a Premier soccer league club. Motsepe was elected on 12 March 2021 as the CAF president after four other candidates stepped down, and his son— Thlopie Motsepe took over as the chairman of Sundowns.
Motsepe has gained distinguished recognition over the years; he won South Africa’s Best Entrepreneur Award in 2002. In 2004, he was picked 39th among the South African Broadcasting Corporation’s Great South Africans. In 2008, he was documented as the 503rd-richest person in the world, according to the Forbes 2019 list of The World’s Billionaires, and then ranked as the 962nd-wealthiest person in the world, and the third-wealthiest South African for 2019.
8. Naguib Sawiris— $3.4b Net-worth
Naguib Onsi Sawiris is an Egyptian billionaire businessman. Sawiris is chairman of Weather Investments’s parent company, and the former chairman and CEO of Orascom Telecom Holding, Orascom, his family business which he joined in 1979. Sawiris contributed to the growth and diversification of the company making it one of Egypt’s largest and most diversified Congoates and the country’s largest private sector employer.
Orascom was split into separate operating companies in the late 90s; Orascom Telecom Holding (OTH), Orascom Construction Industries (OCI), Orascom Hotels & Development, and Orascom Technology Systems (OTS). Sawiris resigned as CEO of Orascom Telecom Media & Technology in 2016. The same year, he launched Gemini Global development Egypt— Gemini Egypt Holding, a property developer under Ora Developers, a real estate operator, and investment holding.
7. Issad Rebrab &Family — $5.1b Net-Worth
Issad Rebrab is an Algerian billionaire businessman, and CEO of the Cevital industrial group, the largest private company in Algeria, active in steel, food, agribusiness, and electronics. Starting his industrial career in 1971. His business was at risk of getting destroyed in a terrorist attack in 1995, he left Algeria to come back 3 years later with Cevital
Issad Rebrab is the father and CEO of Cevital, Algeria’s biggest privately-held company. Cevital controls one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year. Rebrab acquired El Khabar media group, for $45 million in 2016 as his second investment into media, as he owned the French-Algerian daily paper Liberte. The paper was closed by him in April2022.
6. Mike Adenuga— $6.7b Net-Worth
Mike Adenuga Agbolade Ishola Adenuga Jr is a Nigerian billionaire businessman, and one of the richest people in Africa. His company Globacom is Nigeria’s second-largest telecom operator and also exists in Ghana and Benin. He is the owner of major stakes Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company). Amazingly, he worked as a taxi driver to fund his education.
Nevertheless, Adenuga made his first millions at the age of 26, selling lace and soft drinks. He issued his GSM license in 1999, it got revoked and was given again in 2003. At the first African Telecoms Awards (ATA) in August 2007, he was listed as African Entrepreneur of The Year. Adenuga was decorated with the badge of a Commander of the Legion of Honour by President Emmanuel Macron of France in 2018. Adenuga was mentioned as one of the Top 100 most influential Africans by New African magazine in 2019.
5. Abdulsamad Rabiu—$7b Net-Worth
Abdul Samad Isyaku Rabiu is a Nigerian billionaire businessman and philanthropist. He established BUA Group, a Nigerian empire centralizing manufacturing, infrastructure, and agriculture and producing revenue of over $2.5 billion. Abdul Samad is the Chairman of the Nigerian Bank Industry as well. His father, Khalifah Isyaku Rabiu, was one of the preceding Nigerian industrialists in the 1970s and 1980s. Abdulsamad’s International Limited, BUA established for the sole purpose of commodity trade imported rice, edible oil, flour, iron, and steel.
Abdul Samad extended his company further into steel; producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria in 1990. In 2009 the company went on to acquire a controlling share in a publicly-listed Cement Company in Northern Nigeria and proceeded to construct a $900 million cement plant in Edo State, which was completed in early 2015. He was reported to be the second richest man in Nigeria in 2022 and ranked fifth as the richest man in Africa.
4. Nassef Sawiris $8.6 b Net-Worth
Nassef Onsi Sawiris is an Egyptian billionaire businessman, and the youngest of Onsi Sawiris’ three sons (his brothers are Naguib and Samih). Nassef Sawiris joined the Orascom group in 1982 and oversaw the construction activities of Orascom Construction and became CEO of Orascom Construction Industries following the company’s incorporation in 1998.
Nassef was on the board of directors at the Cairo and Alexandria Stock Exchanges from 2004 to 2007. And also at the Dubai International Financial Exchange DIFX from July 2008- June 2010. Reportedly, Nassef acquired a share in Adidas AG in 2015 through his investment company NNS Holding Sàrl Luxembourg. In October 2020, Nassef Sawiris founded Avanti Acquisition Corp, a Special-purpose acquisition company. Recently, he was ranked by Forbes as the fourth richest man in Africa in 2022.
3. Nicky Oppenheimer & Family $ 8.7b Net-Worth
Nicholas F. Oppenheimer is a South African billionaire businessman and formerly the chairman of De Beers diamond mining company and its subordinate, the Diamond Trading Company, and former deputy chairman of Anglo American. He is the son of Harry Oppenheimer and grandson of the Anglo-American founder and first to chair De Beers, Ernest Oppenheimer. Nicky joined Anglo-American in 1968, was appointed a director in 1974, then became deputy chairman in 1983.
The Oppenheimer family concentrated much of its philanthropic efforts on preserving the heritage and cultural importance of the Southern African region, and also on broader community upliftment in the expanses of education, health, nature conservation, and arts. Nicky and his son Jonathan Oppenheimer founded the Brenthurst Foundation in 2005. Nicky appeared on the Sunday Times Rich List 2018 as the 23rd richest person in the United Kingdom, with a reported fortune of £5.5 billion. Nicky has occurred frequently on the Forbes World billionaires list and was ranked the third African Richest man in 2022.
2. Johann Rupert & Family $11b
Johann Peter Rupert is a South African billionaire businessman, who is the eldest son of business tycoon Anton Rupert. He is the chairman of the Swiss-based luxury-goods company Richemont and the South Africa-based company Remgro. After serving as an apprentice in New York city, he came back to South Africa and founded Rand Merchant Bank of which he was CEO. In 1984, he merged RMB and Rand Consolidated Investments, forming RMB Holdings, and resigned to join his father’s company, the Rembrandt Group.
Rupert was appointed Chairman of Rembrandt Group Limited in 1992 and he was named one of 200 “Global Leaders of Tomorrow” by the World Economic Forum, Davos, Switzerland. He restructured Rembrandt Group Limited and established Remgro Limited and VenFin Limited in 2000. Voted “Most Influential Business Leader” in South Africa by CEOs of top 100 Listed Companies. Rupert is a former cricketer and founded the Laureus Sport for Good Foundation in 1990. Rupert and their family were ranked second-richest in South Africa on the Forbes list in 2022.
1. Aliko Dangote $ 13.9 b
Aliko Dangote is a Nigerian billionaire business magnate, founder, and current chairman and CEO of the Dangote Group, the largest industrial conglomerate in West Africa. Dangote was born into a wealthy Muslim family in Kano State, Nigeria, his great-grandfather was Alhattan Dantata, the richest West African at the time of his death in 1955.
The Dangote Group was established as a small trading firm in 1977, Dangote relocated to Lagos to expand the company the same year and began trading in products including bagged cement as well as agricultural goods like rice and sugar. The Dangote Group is now one of the largest syndicates in Africa, with global projects in Benin, Ghana, Zambia, and Togo. The Dangote Group has stridden from being a trading company to being the largest industrial group in Nigeria, entailing sectors like Dangote Sugar Refinery, Dangote Cement, and Dangote Flour. Ranked first by Forbes, Dangote is the richest person in Africa, the richest black person, and the 65th richest person in the world.
Notwithstanding, the high rate of poverty in the continent— some individuals have managed to get control of affluence worth billions of dollars in assets and establishments spreading across the African region. Providing employment opportunities and economic growth are a few of the benefits these individuals offered with their riches.
