Top 10 richest people in Africa (2023)

Africa is a continent made up of over 1 billion people. The continent has had its fair challenges of troubles with wealth creation, jobs, the standard of living and increased poverty. Nonetheless, Africa has been on the rise of late, becoming one of the fastest-developing continents in the world. 

With more than 50 nations making up the African continent, there exist hopes for a greater continent in the future years to come. This article offers the top 10 richest people on the African continent, the countries they are from and how their wealth was made. 

Richest people in Africa

RankNameCountryNet worth ($)
1.Aliko DangoteNigeria12 Billion
2.Johann Rupert and familySouth Africa8.8 Billion
3.Nicky Oppenheimer and familySouth Africa8.5 Billion
4.Nassef SawirisEgypt6.8 Billion
5.Abdulsamad RabiuNigeria6.5 Billion
6.Mike AdenugaNigeria5.8 Billion
7.Nathan KirshEswatini5.3 Billion
8.Issad Rebrab and familyAlgeria5.1 Billion
9.Naguib SawirisEgypt3.4 Billion
10.Patrice MotsepeSouth Africa2.8 Billion

1. Aliko Dangote

Net worth: $12 Billion.

Country: Nigeria

Dangote is the richest man in Africa as of January 2023 with a net worth of $12 billion. The 65-year-old Nigerian businessman has an interest in manufacturing cement, flour, sugar and automobile parts with a presence in over 10 African countries. 

Dangote is the president of the Dangote Group, a multi-billion Naira conglomerate with participation in oil, manufacturing, sales and others. Dangote resides in Abuja the Nigerian capital and is currently working towards building Africa’s biggest refinery. 

2. Johann Rupert and family

Net worth: $8.8 Billion

Country: South Africa

Rupert is the richest South African and the second richest man in Africa. Rupert is a studded businessman with an interest in luxury trading. Born in 1950, the 72-year-old is the owner of a Swiss luxury goods trading franchise named Compagnie Financiere Richmond and headquartered in Cape Town, South Africa. 

Rupert’s company has interests in trading luxury brands and is currently the largest African trader of luxury European brands. Names like Montblanc and Cartier are some of the few luxury brands traded by Rupert. As of January 2023, Rupert was worth over $8 billion; he currently resides in Cape Town, South Africa.

3. Nicky Oppenheimer and family

Net worth: $8.5 Billion

Country: South Africa

Oppenheimer used to be the second wealthiest man on the continent but has recently been overtaken by Rupert. Nonetheless, Oppenheimer finishes currently at a whopping $8.5 billion. The 77-year-old billionaire was born on 8th June 1945 and is currently the third richest man in Africa and the second richest in South Africa. 

Oppenheimer started his way to becoming a billionaire by inheriting a multi-million dollar diamond company, DeBeers from his father. From there, Oppenheimer grew his way to the top becoming the continent’s 3rd richest man. Oppenheimer also owns Fireblade aviation, which offers chattered flights in Johannesburg. He currently resides in Johannesburg, South Africa.

4. Nassef Sawiris

Net worth: $6.8 Billion

Country: Egypt

Sawiris is the richest man in Egypt, the richest in North Africa and Africa’s 4th richest man with a net worth of over 6 billion dollars. Sawiris owns and controls the famous Orascom construction, which is one of the world’s top 10 producers of nitrogen fertilizer. Orascom is quoted on the Egyptian exchange, the Euronext and the New York Stock Exchange. 

The 61-year-old was born on 19 January 1961 and has an interest in Madison Square and Adidas sports. Sawiris currently resides in Cairo the Egyptian capital.

5. Abdulsamad Rabiu

Net worth: $6.5 Billion

Country: Nigeria

Rabiu is the second richest man in Nigeria and the 5th richest in Africa. The 62-year-old was born in August 1960 and hails from Kano state in Nigeria. 

Rabiu is the owner and founder of the BUA Group, Africa’s fastest-growing production company and a conglomerate dealing in cement, sugar, real estate and refinery. The billionaire is worth over 6 billion dollars as of January 2023 and has interests in over four regions in Nigeria. Rabiu recently concluded a refinery in Port-Harcourt aimed to increase revenue for the company and the businessman. He currently resides in Abuja the nation’s capital.

6. Mike Adenuga

Net worth: $5.8 Billion

Country: Nigeria

Adenuga is a known name when it comes to the list of billionaires in Africa; the businessman has been gracing the list since 2002. Born in April 1953, the 69-year-old is the chairman and founder of Globacom, one of Africa’s top ten leading telecommunication providers offering telecom services to over 50 million people across Africa. 

The billionaire also has interests in oil and gas and is the founder of Conoil, a multi-million dollar oil exploration company operating in the Niger Delta. Adenuga is worth over 5 billion dollars and resides in Lagos.

7. Nathan Kirsh

Net worth: $5.3 Billion

Country: Eswatini

Kirsh is the richest man in Eswanti and the 7th richest in Africa. He also doubles as the richest person, not from the three largest economies in Africa (Nigeria, South Africa and Egypt). The 91-year-old was born in January 1932 and is also the oldest person on the list of the top ten richest in Africa. 

Kirsh is the founder and owner of the Kirsh Group, a firm owning majority stakes in a plethora of companies, including Cash and Carry. Kirsh has a net worth of over 5 billion dollars and resides in Ezulwini in Eswatini.

8. Issad Rebrab and family

Net worth: $5.1 Billion

Country: Algeria

The Algerian businessman is the 8th richest person on the continent. With a largely diversified investment but increased concentration on sugar production, Rebrab sets the Algerian economy on a boost. The billionaire’s company, Cevital, owns and controls over 90% of sugar production in Algeria. 

Rebrab is 78 years and was born in May 1944. He also owns Groupe Brandt and has a significant presence in the German water purification market, home appliances and Italian steel. He has a net worth of over 5 billion dollars.

9. Naguib Sawiris

Net worth: $3.4 Billion

Country: Egypt

Naguib is the brother to Nassef, the third richest man in Africa. Naguib built an empire distinct from the family business with a concentration on telecommunication. 

The 68-year-old owns Orascom TMT Investments, a multi-billion dollar enterprise dealing mainly with the interests of telecommunication.

10. Patrice Motsepe

Net worth: $2.8 Billion

Country: South Africa

The top ten of Africa’s richest list closes with South Africa’s Motsepe which is worth over 2 billion dollars.

Motsepe owns African Rainbow Minerals, which has interests in mining and has a presence in South Africa and Malaysia. The 60-year-old resides in Johannesburg in South Africa. 

Conclusion

It is largely believed that Africa is to improve greatly over the years with additional wealth being attracted into the continent. This article provides the top ten richest men in Africa.

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Richard Okoroafor

Richard Okoroafor

Richard is a brilliant legal content writer who doubles as a finance lawyer. He brings his wealth of legal knowledge in corporate commercial transactions to bear, offering the best value that exceeds expectations.

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