As of November 2022, Aliko Dangote was the richest man in Africa. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. From Nigeria, he is the founder and chairman of the Dangote Group, a large conglomerate operating in several sectors including cement and sugar. The South African Johann Rupert and family followed as the second-richest people in Africa, with a net worth of 8.8 billion U.S. dollars.
Dangote Group continues to expand
Founded in 1981, the Dangote Group (Dangote Industries Limited) is among the largest conglomerates in Africa. Its main subsidiary, Dangote Cement Plc, is the main cement manufacturer on the African continent. The business went public in 2010 and is the largest company listed on the Nigerian Stock Exchange. In addition to the cement industry, the Group also manufactures and processes food products, such as sugar, flour, and salt. With Nigeria being the leading African country for oil production, Dangote expanded his business into the oil industry in recent years. For this purpose, the Group built Africa’s biggest oil refinery near Lagos, Nigeria.
Africa’s wealthiest countries
Wealth in Africa is concentrated in a few countries and, within those, in a few families. Counting the highest numbers of billionaires, South Africa, Egypt, and Nigeria are the wealthiest nations, having also the largest gross domestic products (GDPs) in Africa. These countries count the highest number of high-net-worth individuals (HNWIs), which amounts to over 39,000 in South Africa. Not surprisingly, Johannesburg and Cape Town have the highest concentration of private wealth in Africa. Moreover, South Africa has the highest wealth per capita after Mauritius.
Billionaires in Africa as of 2022
(net worth in billion U.S. dollars)
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Forbes. (November 21, 2022). Billionaires in Africa as of 2022 (net worth in billion U.S. dollars) [Graph]. In Statista. Retrieved February 05, 2023, from https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes. "Billionaires in Africa as of 2022 (net worth in billion U.S. dollars)." Chart. November 21, 2022. Statista. Accessed February 05, 2023. https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes. (2022). Billionaires in Africa as of 2022 (net worth in billion U.S. dollars). Statista. Statista Inc.. Accessed: February 05, 2023. https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes. "Billionaires in Africa as of 2022 (Net worth in Billion U.S. Dollars)." Statista, Statista Inc., 21 Nov 2022, https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes, Billionaires in Africa as of 2022 (net worth in billion U.S. dollars) Statista, https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/ (last visited February 05, 2023)
Billionaires in Africa as of 2022 (net worth in billion U.S. dollars) [Graph], Forbes, November 21, 2022. [Online]. Available: https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/