The combined wealth of Africa’s billionaires rose sharply over the past year, with the continent’s richest individuals adding more than US$ 20 billion to their fortunes as stock markets rallied and currencies stabilized in several key economies.
- •According to the latest assessment by Forbes, Africa’s 23 billionaires are now worth a combined US$ 126.7 billion, a 21% increase from 2025. The gains follow strong performances in several equity markets and rising profits among major listed companies across the continent.
- •At the top of the list remains Nigerian industrialist Aliko Dangote, whose net worth is estimated at US$ 28.5 billion, up by about US$ 4.6 billion over the past year.
- •The increase was largely driven by a surge in shares of Dangote Cement, which rose nearly 69% since March last year.
Dangote is also pushing ahead with expansion plans tied to the Dangote Petroleum Refinery, one of the largest industrial projects in Africa. The refinery is expected to pursue a public listing later this year, while the group recently announced a US$ 400 million agreement with a Chinese equipment manufacturer aimed at doubling the refinery’s capacity by 2029.
Among the biggest gainers was Nigerian businessman Abdulsamad Rabiu, whose net worth more than doubled to US$ 11.2 billion, making him the third-richest person in Africa. His wealth increased by roughly US$ 6.1 billion, supported by a sharp rise in shares of BUA Cement, which climbed more than 130% during the year. Rabiu now ranks behind South African luxury goods magnate Johann Rupert, whose fortune is estimated at US$ 16.1 billion.
South African banking entrepreneur Michiel Le Roux also saw significant gains as shares of Capitec Bank rose about 57%, outperforming the broader Johannesburg Stock Exchange over the past year amid stronger commodity prices and improved investor sentiment.
Not all fortunes increased. Moroccan property developer Anas Sefrioui saw his wealth fall by roughly US$ 300 million after shares of his company Group Addoha dropped more than 30%. Nigeria investor Femi Otedola also lost about US$ 200 million after reducing his stake in Geregu Power through a discounted share sale.
Egyptian investor Nassef Sawiris was the only billionaire whose fortune remained largely unchanged at US$ 9.6 billion. Sawiris holds a stake in Aston Villa and owns roughly 6% of Adidas, where he is expected to become chairman following a shareholder meeting later this year.
South Africa remains home to the largest number of billionaires on the continent, with seven individuals on the list, followed by Egypt with five, Nigeria with four and Morocco with three. About 61% of those on the list are self-made, and most billionaires are over the age of 60. Tanzanian entrepreneur Mohammed Dewji is among the few younger members of the group.
