Top 10 Richest Men In Africa 2020 (Net Worth)

An updated list of richest men in Africa and their net worth presently. Africa is known as the poverty capital of the world. It is therefore refreshing to see for a change, a list of people who have defeated all odds to become wealthy on a scale that will impress even the wealthy in the wealthiest countries of the world.

It is with keen interest that we have compiled this list of wealthiest billionaires in Africa, and we know that it is with a similar level of interest that you will read. Whether for research purposes, for self motivation, or just out of curiosity- whatever your reason, we welcome you, and we present the top 10 richest men in Africa. Enjoy! 

Top 10 Richest Men In Africa 2020 

Nicky Oppenheimer
  • 1. Nicky Oppenheimer & family ( South Africa)

Net worth: $7.5 billion

Date Of Birth: June 8, 1945

Have you heard of the DeBeers family- The mysterious mining family said to be an offshoot of the Rothschild family? Nicky Oppenheimer is the heir to this family’s fortune.  He was the third generation of his family to run DeBeers mining investments, and took the company private in 2001. He sold his 40% stake in the company to mining group Anglo American for $5.1 billion in cash in 2012. In 2014, Nicky Oppenheimer started Fireblade Aviation Company in Johannesburg. The company operates chartered flights with its fleet of aeroplanes and helicopters. He owns at least 720 square miles of conservation land in 3 countries: South Africa, Botswana and Zimbabwe.

Aliko Dangote
  • 2. Aliko Dangote  (Nigeria)

Net worth: $7.4 billion

Date of Birth: April 10th, 1957

Aliko Dangote, the wealthiest man in Africa, sits at the head of the famous Dantata Family of Northern Nigeria. Nephew to late kolanut merchant Alhaji Dantata, he has been celebrated as Africa’s richest man for quite some time now. He received seed capital from his uncle, and so went into the distribution of rice. From there he proceeded to found nigeria’s biggest conglomerate; The Dangote Group which distributes rice, produces cement, manufactures sugar, processes flour, does construction work, deals in oil and gas, and so on.  Dangote Cement produces 45.6 million metric tons of cement every year, and has operations in 10 countries across Africa. Dangote Refinery is set to be one of the world’s largest oil refineries. 

Nassef Sawiris
  • 3. Nassef Sawiris (Egypt)

Net worth: $6 billion

Date of Birth: 1961

Nassef Sawiris sits at the helm of Egypt’s wealthiest family and the second richest man in Africa. He inherited a fortune so large that his brother Naguib is also a billionaire. Nassef Sawiris divided the family company; Orascom Construction Industries into two entities in 2015: OCI and Orascom Construction. He controls OCI, which is one of the world’s largest nitrogen fertilizer producers. It is an international company with facilities in Texas and Iowa. The company is traded on the Euronext Amsterdam exchange. Orascom Construction, an engineering and building firm, is also traded on the Cairo exchange as well as Nasdaq Dubai. Nassef Sawiris also has significant holdings in cement giant Lafarge Holcim as well as Adidas; he sits on the  board of directors of Adidas. Nassef Sawiris has also made significant investments in sports; through his holding company he owns a 35 percent stake in Aston Villa Football Club of England. 

Mike Adenuga
  • 4. Mike Adenuga ( Nigeria)

Net Worth: $5.9 Billion

Date Of Birth: April 29, 1953

Otunba Mike Adenuga, has been Nigeria’s second richest man for about 10 years. He built his fortune on telecom and oil production. Mike Adenuga is the chairman and CEO of Globacom Communications, a mobile phone network. It is the third largest operator in Nigeria, with 43 million subscribers. Mike Adenuga also sits at the helm of Conoil, a petroleum exploration, Producing, and marketing company. The company operates six oil blocks in the Nigeria’s oil rich Niger Delta region. Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver. According to him he made his first million at age 26 selling lace and distributing soft drinks. 

Johann Rupert
  • 5. Johann Rupert & family ( South Africa)

Net worth: $4.8 billion

Date Of Birth: June 1, 1950

Johann Rupert is chairman of Swiss luxury goods making company Compagnie Financiere Richemont. The company’s foremost brands are Cartier and Montblanc. It was formed in 1998 through a breakdown of assets owned by holding company Rembrandt Group Limited (now Remgro Limited), established by his father Anton Rupert in the 1940s. He owns a 7% stake in diversified investment firm Remgro, which he controls, as well as 25% of Reinet, an investment holding company which is based in Luxembourg. In recent years, the fifth richest men in Africa, Johann Rupert has become a vocal environmental activist. 

  • 6. Issad Rebrab & family (Country: Algeria)

Net worth: $4.3 billion

Date Of Birth: May 27, 1944

Issad Rebrab is the chairman and CEO of Cevital, which is Algeria’s biggest privately-held company. Cevital has assets all over the world. The company owns French home appliances maker Groupe Brandt, an Italian steel mill and also a German water purification company. Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons of processed sugar every year. 

  • 7. Mohamed Mansour (Country: Egypt)

Net worth: $3.3 billion

Date Of Birth: 1948

Mohammed Mansour is at least a second generation billionaire. He inherited his wealth and position from his father. Today, he oversees the family conglomerate; Mansour Group, which was founded by his father. The company has 60,000 employees. Some of his business involves selling vehicles. As a matter of fact he is one of GM’s biggest distributors worldwide. Mansour Group also has exclusive distribution rights for Caterpillar equipment in Egypt, as well as seven other African countries. Due to his extensive knowledge of vehicles and heavy machinery he was appointed as Egypt’s Minister of Transportation from 2006 to 2009 under the Hosni Mubarak regime. Most men in his family are billionaires, including his young son.

  • 8. Naguib Sawiris ( Egypt)

Net worth: $3 billion

Date Of Birth: June 17, 1955

Naguib Sawiris is brother to the other Sawiris, who occupies the number 3 position of Africa’s wealthiest billionaires list. The Sawiris family is the richest in Egypt, and one of the richest in Africa. Naguib Sawiris built a fortune in telecom. He made a  wise move by selling Orascom Telecom in 2011 to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction. He remains the chairman of Orascom TMT Investments, which has stakes in a major asset manager in Egypt and also diverse investments including an Italian internet company, among others. The family holding company La Mancha has stakes in Evolution Mining, Endeavour Mining and Golden Star Resources, a company that operates gold mines in various parts of Africa and also Australia.  

  • 9. Abdulsamad Rabiu (Country: Nigeria)

Net worth: $2.4 billion

Date Of Birth: August 4, 1960

Addulsamad Rabiu, one of the richest men in Africa, is the founder of BUA Group, which is a Nigerian group of businesses dealing in cement production, sugar refining and real estate development. In early January 2020, Rabiu merged his privately-owned Obu Cement Company with the publicly traded firm Cement Company of Northern Nigeria, which he controlled. The combined resulted in a rebranding, and so emerged BUA Cement Plc, which trades on the Nigerian stock exchange. Rabiu owns 98.5% of the company. 

  • 10. Patrice Motsepe (Country: South Africa)

Net worth: $1.5 billion

Date Of Birth: January 28, 1962

Patrice Motsepe, is the founder and chairman of African Rainbow Minerals. Patrice Motsepe became the first black African on the Forbes list in 2008. In 2016, he launched a new private equity firm, African Rainbow Capital, which is focused on investing capital in Africa. Motsepe also has a significant stake in Sanlam, a listed financial services firm, and has investments in sports, namely Mamelodi Sundowns Football Club of South Africa which he owns. He practiced law, and it was drafting legal contracts for mine owners and operators that drew him into the business. In 1994, he bought low-producing gold mine shafts and later turned them profitable, thus enabling him rise to billionaire status.

Conclusion On The Wealthiest Billionaires/Richest Men In Africa:

Like many other things in life wealth can rise and fall quite sharply. No man can resist the impact of the environment around him, and so when an economy does badly, and demand for certain products drop, you are bound to see a small change in the order of the list. It should therefore not surprise you if one name or 2 which you expected to find here are absent, the reverse could happen next year. 


Tag: Richest Person In Africa 2020

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