Aliko Dangote tops Africa’s richest list with $23.9 Billion

Forbes has released its 2025 list of the wealthiest people in Africa, and it shows a rise in the number of billionaires and their wealth.

Africa now has 22 billionaires, and their total wealth has increased to $105 billion, up from $82.4 billion in 2024.

This growth is mainly due to stronger market values and economic improvements.

At the top of the list is Aliko Dangote, the owner of Dangote Petroleum Refinery. His wealth is now $23.9 billion, a big jump from $13.9 billion last year. This rise is mainly due to the value of his refinery, which was included in his wealth for the first time.

Mike Adenuga, the chairman of Globacom, comes in second with $6.8 billion. Abdulsamad Rabiu, the chairman of BUA Group, follows with $5.1 billion.

These individuals are among the top business moguls driving Africa’s growing wealth.

Femi Otedola, chairman of First Bank of Nigeria (FBN) Holdings Plc, shares the 16th spot, with a net worth of $1.5 billion.

Top Richest Africans on Forbes 2025 List
– Aliko Dangote (Nigeria) – $23.9 billion (Dangote Petroleum Refinery)

– Johann Rupert (South Africa) – $11.1 billion (Luxury goods, Richemont)

– Nicky Oppenheimer (South Africa) – $9.4 billion (Diamonds, De Beers)

– Mike Adenuga (Nigeria) – $6.8 billion (Telecoms, Globacom)

– Nassef Sawiris (Egypt) – $6.7 billion (Construction, Orascom)

– Abdulsamad Rabiu (Nigeria) – $5.1 billion (Cement & Sugar, BUA Group)

– Issad Rebrab (Algeria) – $4.6 billion (Food industry, Cevital)

– Nathan Kirsh (Eswatini/South Africa) – $4.1 billion (Retail, Jetro Holdings)

– Patrice Motsepe (South Africa) – $3.9 billion (Mining, African Rainbow Minerals)

– Koos Bekker (South Africa) – $2.8 billion (Media, Naspers)

– Mohamed Mansour (Egypt) – $2.6 billion (Diversified business, Mansour Group)

– Strive Masiyiwa (Zimbabwe) – $2.5 billion (Telecoms, Econet)

– Youssef Mansour (Egypt) – $1.9 billion (Retail, Mansour Group)

– Mohammed Dewji (Tanzania) – $1.8 billion (Manufacturing, MeTL Group)

– Aziz Akhannouch (Morocco) – $1.7 billion (Petroleum, Afriquia Gaz)

– Yasseen Mansour (Egypt) – $1.7 billion (Consumer goods, Mansour Group)

– Othman Benjelloun (Morocco) – $1.6 billion (Banking & Insurance, BMCE Bank)

– Femi Otedola (Nigeria) – $1.5 billion (Banking, FBN Holdings)

– Michiel Le Roux (South Africa) – $1.4 billion (Banking, Capitec Bank)

– Christoffel Wiese (South Africa) – $1.3 billion (Retail, Pepkor & Shoprite)

Forbes has revealed which countries have the most billionaires in Africa. South Africa leads the list with seven billionaires. Nigeria and Egypt come next, each with four billionaires. Other countries with billionaires include Morocco, which has three, and Algeria, Tanzania, and Zimbabwe, each with one.

This shows that South Africa has the highest number of billionaires in Africa, followed by Nigeria and Egypt. These countries are leading the way in Africa’s growing wealth.

“Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there,” Forbes explained. “This excludes Sudanese-born billionaire Mo Ibrahim, a U.K. citizen, and South African Nathan Kirsh, who operates out of London.”

The net worth figures were determined using stock prices and currency exchange rates as of March 7, 2025.