As of September 2021, Aliko Dangote is the richest man in Africa. He has a net worth of 11.5 billion U.S. dollars and ranks 191 worldwide. From Nigeria, he is the founder and chairman of the Dangote Group, a large conglomerate operating in several sectors including cement and sugar. Nassef Sawiris follows as the second-richest person in Africa, with a net worth of 8.3 billion U.S. dollars. The Sawiris family in Egypt owns Orascom Construction PLC, a multinational corporation operating in the construction and cement industry.
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 represents 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, Nigeria, Egypt, and South Africa 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 amount to over 39 thousand 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 2021
(net worth in billion U.S. dollars)
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Forbes. (September 20, 2021). Billionaires in Africa as of 2021 (net worth in billion U.S. dollars) [Graph]. In Statista. Retrieved January 21, 2022, from https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes. "Billionaires in Africa as of 2021 (net worth in billion U.S. dollars)." Chart. September 20, 2021. Statista. Accessed January 21, 2022. https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes. (2021). Billionaires in Africa as of 2021 (net worth in billion U.S. dollars). Statista. Statista Inc.. Accessed: January 21, 2022. https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes. "Billionaires in Africa as of 2021 (Net worth in Billion U.S. Dollars)." Statista, Statista Inc., 20 Sep 2021, https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/
Forbes, Billionaires in Africa as of 2021 (net worth in billion U.S. dollars) Statista, https://www.statista.com/statistics/1223108/richest-people-in-africa-by-net-worth/ (last visited January 21, 2022)