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Forbes African Billionaires list 2020: Aliko Dangote retains top slot for 10th year in a row while Folorunsho Alakija and Isabel Dos Santos, failed to make the list
In a year defined by a global pandemic that has challenged almost every aspect of life, leadership is being constantly tested. While the total number of African billionaires came down to 18 as against 20 in 2020, their collective this year is worth $73.8 billion, slightly more than the $73.4 billion aggregate worth of the 20 billionaires that made last year’s list of Africa’s richest people. These business leaders have risen to the challenge and are demonstrating their mettle in these difficult times.
Aliko Dangote, Nassef Sawiris, Mike Adenuga
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- The 18 billionaires from Africa hail from seven different countries. South Africa and Egypt each have five billionaires, Nigeria has three, Morocco has two while Algeria, Tanzania and Zimbabwe make up the last three.
- For the tenth year in a row, Aliko Dangote of Nigeria is the continent’s richest person, worth $12.1 billion, up by $2 billion from last year’s list thanks to a roughly 30% rise in the share price of Dangote Cement, by far his most valuable asset.
- The biggest gainer this year is Nigerian cement tycoon, Abdulsamad Rabiu. The shares of his BUA Cement PLC, which listed on the Nigeria Stock Exchange in January 2020, have doubled in value in the past year, pushing his fortune up by an extraordinary 77%, to $5.5 billion.
- The only two African women billionaires, Alakija and Dos Santos, failed to make the list. Forbes calculates that the fortune of Folorunsho Alakija of Nigeria, who owns an oil exploration company, dropped below $1 billion due to lower oil prices. And Isabel dos Santos, who since 2013 has been the richest woman in Africa, was knocked from her perch by a series of court decisions freezing her assets in both Angola and Portugal.
Get to know the 18 African billionaires who have made to the annual Forbes list:
Aliko Dangote during a visit to the fertilizer plant under construction in Lagos State. Credit: ANDREW ESIEBO FOR BLOOMBERG BUSINESSWEEK
Aliko Dangote during a visit to the fertilizer plant under construction in Lagos State. Credit: ANDREW ESIEBO FOR BLOOMBERG BUSINESSWEEK
ANDREW ESIEBO FOR BLOOMBERG BUSINESSWEEK
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#1 - Aliko Dangote
Net worth: $12.1 billion
Industry: Manufacturing
Country: Nigeria
Nassef Sawiris, an Egyptian billionaire businessman, the youngest of Onsi Sawiris' three sons.
The Times
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#2 - Nassef Sawiris
Net worth: $8.5 billion
Industry: Construction and engineering
Country: Egypt
Nicky Oppenheimer, a South African billionaire businessman and philanthropist. (Celebrity Family)
Celebrity Family
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#3 - Nicky Oppenheimer & family
Net worth: $8 billion
Industry: metal and mining
Country: South Africa
South African business mogul Johann Rupert oversees an elite portfolio of luxury brands that includes fashion labels Azzedine Alaïa, Chloé, and Dunhill, alongside established jewellery and watch brands such as Van Cleef & Arpels, Vacheron Constantin and Cartier
via Google Images
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#4 - Johann Rupert & family
Net worth: $7.2 billion
Industry: Fashion and Retail
Country: South Africa
Mike Adenuga
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#5 - Mike Adenuga
Net worth: $6.3 billion
Industry: Diversified
Country: Nigeria
Abdulsamad Rabiu is one of the richest people in Nigeria and Africa with a net worth of $1.1 billion
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#6 - Abdulsamad Rabiu
Net worth: $5.5 billion
Industry: Diversified
Country: Nigeria
Issad Rebrab is the founder and CEO of Cevital, Algeria's biggest privately-held company. Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year.
via Google Images
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#7 - Issad Rebrab & family
Net worth: $4.8 billion
Industry: Food and beverage
Country: Algeria
Naguib Sawiris at the World Economic Forum in 2009
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#8 - Naguib Sawiris
Net worth: $3.2 billion
Industry: Telecom
Country: Egypt
Patrice Motsepe
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#9 - Patrice Motsepe
Net worth: $3 billion
Industry: Metals and mining
Country: South Africa
Naspers Chairperson Koos Bekker
Naspers Chairperson Koos Bekker
702 South Africa
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#10 - Koos Bekker
Net worth: $2.8 billion
Industry: Media and entertainment
Country: South Africa
Mohamed Mansour
Pulse Ghana
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#11 - Mohamed Mansour
Net worth: $2.5 billion
Industry: Diversified
Country: Egypt
Aziz Akhannouch, the richest man in Morocco
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#12 - Aziz Akhannouch & family
Net worth: $2 billion
Industry: Diversified
Country: Morocco
Mr Mohammed Dewji
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#13 - Mohammed Dewji
Net worth: $1.6 billion
Industry: Diversified
Country: Tanzania
The Mansour Group was founded more than 60 years ago and now has over 60,000 employees, a presence in more than 100 countries and total revenues exceeding $7.5 billion
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#14 - Youssef Mansour
Net worth: $1.5 billion
Industry: Diversified
Country: Egypt
Othman Benjelloun, Morocco billionaire
Othman Benjelloun, Morocco billionaire
Morocco World News
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#15 - Othman Benjelloun & family
Net worth: $1.3 billion
Industry: Finance and investments
Country: Morocco
Michiel Le Roux, the founder of Johannesburg-listed Capitec Bank Holdings
Michiel Le Roux, the founder of Johannesburg-listed Capitec Bank Holdings
Prabooks
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#16 - Michiel Le Roux
Net worth: $1.2 billion
Industry: Finance and investments
Country: South Africa
Strive Masiyiwa, Econet wireless chairman
Strive Masiyiwa, Econet wireless chairman
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#16 - Strive Masiyiwa
Net worth: $1.2 billion
Industry: Telecom
Country: Zimbabwe
Yasseen Mansour is a shareholder in family-owned conglomerate Mansour Group, which was founded by his father. His brothers Mohamed and Youssef are also billionaires and part owners of Mansour Group.
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#18 - Yasseen Mansour
Net worth: $1.1 billion
Industry: Diversified
Country: Egypt
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