Aliko Dangote has maintained his position as Africa’s richest man for the 11th year running
By Eugene Onyeji
A Nigerian business magnate and the chairman and CEO of Dangote Group, Aliko Dangote, has maintained his position of Africa’s richest man, for the 11th year running, according to Forbes, a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle.
While Dangote tops the list, another Nigerian businessman mogul, Abdulsamad Rabiu, founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate occupies the fifth position on the list.
In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled.
The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.5% of it.
Another Nigerian billionaire businessman, Mike Adenuga occupies the sixth position on the list
Adenuga built his fortune in telecom and oil production. His mobile phone network, Globacom, is the third largest operator in Nigeria, with 55 million subscribers, while his oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta.
Forbes used stock prices and currency exchange rates from January 19, 2022 to measure the net worths.
Billionaires from seven African countries made the list, including South Africa and Egypt, which has the highest numbers with five each followed by Nigeria with three billionaires.
See the list:
1. Aliko Dangote $13.9 B 64 cement, sugar
2. Johann Rupert $11 B 71 luxury goods
3. Nicky Oppenheimer $8.7 B 76 diamonds
4. Nassef Sawiris $8.6 B 61 construction, investments
5. Abdulsamad Rabiu $7 B 61 cement, sugar
6. Mike Adenuga $6.7 B 68 telecom, oil
7. Issad Rebrab $5.1 B 78 food
8. Naguib Sawiris $3.4 B 67 telecom
9. Patrice Motsepe $3.1 B 59 mining
10. Koos Bekker $2.7 B 69 media, investments
11. Strive Masiyiwa $2.7 B 60 telecom
12. Mohamed Mansour $2.5 B 74 diversified
13. Aziz Akhannouch $2.2 B 61 petroleum, diversified
14. Michiel Le Roux $1.7 B 72 banking
15. Othman Benjelloun $1.5 B 89 banking, insurance
16. Mohammed Dewji $1.5 B 46 diversified
17. Youssef Mansour $1.5 B 76 diversified
18. Yasseen Mansour $1.1 B 60 diversified
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The Dangote Group is one of the largest conglomerates in Africa with many of its operations in Benin, Ghana, Nigeria, Zambia and Togo. Dangote has expanded to cover food processing, cement manufacturing, and freight.
Dangote will soon become the owner of the largest refinery in Africa.
