The 2024 list of the top 10 richest people in Africa showcases the vast wealth accumulated by some of the continent’s most influential entrepreneurs. Featuring prominent figures from Nigeria, South Africa, and Egypt, the list highlights the financial success these individuals have achieved across diverse industries such as cement, telecommunications, luxury goods, and mining. Aliko Dangote leads the rankings, maintaining his position as Africa’s wealthiest person with a fortune of $13.9 billion. This list reflects Africa’s dynamic and thriving economic landscape, underscoring the entrepreneurial spirit driving growth across the continent.
1. Aliko Dangote (Nigeria)
Aliko Dangote is a Nigerian billionaire businessman, widely recognized as the richest person in Africa. Born on April 10, 1957, in Kano, Nigeria, Dangote hails from a prominent and wealthy Muslim family. He studied business at Al-Azhar University in Cairo, Egypt, before returning to Nigeria to start his own business. Dangote founded the Dangote Group in 1977 as a small trading firm. Over the years, the company expanded rapidly and diversified into various sectors, including cement, sugar, flour, and salt. The Dangote Group has since grown into one of the largest conglomerates in Africa, with operations in several countries across the continent.
Achievements
Dangote is best known for his dominance in the cement industry. Dangote Cement is the largest cement producer in Africa, with production plants in Nigeria and other African countries. The company has played a significant role in the construction boom across the continent. Beyond his business achievements, Dangote is also a noted philanthropist. Through the Dangote Foundation, he has donated millions of dollars to causes such as education, health, and poverty alleviation in Nigeria and other African countries. Dangote has received numerous accolades for his business acumen and contributions to the economy, including being listed consistently as one of the world’s most influential people by various publications.
Business Ventures
Aliko Dangote is the largest cement producer in Africa through his company, Dangote Cement, and a dominant force in Nigeria’s sugar industry, with Dangote Sugar controlling over 70% of the market. He also has substantial investments in salt and flour milling. Additionally, one of his most ambitious ventures is the Dangote Refinery in Lagos, which, when completed, will be among the largest oil refineries in the world.
Net Worth:
As of 2024, Aliko Dangote’s estimated net worth is $13.9 billion, making him the richest person in Africa. His wealth is primarily derived from his majority stakes in Dangote Cement, as well as his other business ventures. Aliko Dangote’s business empire and philanthropic efforts have not only made him a billionaire but also a key figure in Africa’s economic development.
2. Johann Rupert & Family (South Africa)
Johann Rupert is a South African billionaire businessman and the head of one of the most influential and wealthiest families in Africa. Born on June 1, 1950, in Stellenbosch, South Africa, Rupert is the eldest son of the late Anton Rupert, who founded the Rembrandt Group, a tobacco and industrial conglomerate. Johann Rupert studied economics and company law at the University of Stellenbosch but left before completing his degree to pursue a career in banking and finance. He began his career in New York, working for Chase Manhattan and Lazard Frères before returning to South Africa to join the family business.
Achievements
Rupert is best known for his role as the chairman of Richemont, a Swiss-based luxury goods company that owns prestigious brands such as Cartier, Montblanc, and Dunhill. Under his leadership, Richemont has become one of the world’s leading luxury goods companies. He also controls a significant stake in Remgro, a diversified investment company with interests in banking, healthcare, and industrial sectors.
Additionally, Rupert has substantial investments in the South African media industry, particularly through the ownership of News24, one of the country’s largest online news platforms. Rupert is actively involved in philanthropy, supporting conservation efforts, education, and healthcare initiatives in South Africa. He has been recognized for his contributions to preserving wildlife and cultural heritage.
Business Ventures
A global luxury goods conglomerate with brands like Cartier, Montblanc, and Van Cleef & Arpels. An investment holding company with diverse interests, including healthcare, banking, and industrial sectors. An investment company primarily holding shares in British American Tobacco (BAT).
Net Worth
As of 2024, Johann Rupert’s net worth is estimated at $10.1 billion, making him the second-richest person in Africa. His wealth is largely derived from his stakes in Richemont and Remgro, as well as other investments. Johann Rupert’s influence extends beyond his financial success; he is also a significant figure in global luxury markets and an advocate for conservation and philanthropy
3. Nicky Oppenheimer & Family (South Africa)
Nicky Oppenheimer is a South African billionaire businessman and the former chairman of De Beers, the world’s largest diamond company. Born on June 8, 1945, in Johannesburg, South Africa, he is the son of Harry Oppenheimer, who was also a prominent figure in the diamond industry. Nicky was educated at Harrow School in London and later graduated from Christ Church, Oxford, with a degree in Philosophy, Politics, and Economics (PPE). The Oppenheimer family has been synonymous with the diamond trade for nearly a century. Nicky Oppenheimer joined the family business, Anglo American Corporation, and later became the chairman of De Beers, which was co-founded by his grandfather, Ernest Oppenheimer.
Achievements
Nicky Oppenheimer is best known for his leadership of De Beers, which, under his guidance, maintained its position as the world’s largest diamond producer. In 2012, the Oppenheimer family sold its 40% stake in De Beers to Anglo American for $5.1 billion, effectively exiting the diamond business. Oppenheimer is also a noted conservationist. He owns the Tswalu Kalahari Reserve, the largest private game reserve in South Africa, where he focuses on wildlife conservation and sustainable development. Through the Oppenheimer Memorial Trust, established in memory of his father, Nicky has supported education, arts, and conservation projects in South Africa.
Business Ventures
Nicky Oppenheimer co-founded this luxury aviation company that operates a private terminal at O.R. Tambo International Airport in Johannesburg. A significant conservation project, it is South Africa’s largest private game reserve, dedicated to the preservation of the Kalahari ecosystem.
Net Worth
As of 2024, Nicky Oppenheimer’s net worth is estimated at $9.4 billion, making him the third-richest person in Africa. His wealth comes primarily from the sale of the family’s stake in De Beers, as well as other investments. Nicky Oppenheimer’s legacy extends beyond the diamond industry, with significant contributions to conservation, education, and philanthropy in South Africa
4. Nassef Sawiris (Egypt)
Nassef Sawiris is an Egyptian billionaire businessman. He was born on January 19, 1961, in Cairo, Egypt. Sawiris is a prominent member of the Sawiris family, known for their significant wealth and business ventures. He graduated with a degree in Business Administration from the University of Chicago. Nassef is the son of Onsi Sawiris, the founder of Orascom Construction, and is one of three brothers, including Samih Sawiris and Naguib Sawiris.
Achievements
He is the CEO of Orascom Construction, a major construction and engineering firm. Sawiris has diversified his investments into various sectors, including real estate, tourism, and chemicals. Under his leadership, Orascom Construction has undertaken significant projects worldwide.
Business Ventures
A leading multinational construction company involved in a range of infrastructure and industrial projects. He has been involved in the fertilizer and chemicals industry through OCI N.V., a global producer of natural gas-based chemicals.
Net Worth
As of 2024, Nassef Sawiris’s net worth is estimated to be around $8 billion. His wealth primarily comes from his stakes in construction and industrial ventures.
5. Mike Adenuga (Nigeria)
Mike Adenuga is a Nigerian billionaire businessman born on April 29, 1953, in Ibadan, Nigeria. Adenuga studied at Northwestern University and Pace University in New York, earning a degree in Business Administration. He is a member of a prominent Nigerian family with interests in various sectors.
Achievements
Adenuga is the founder and chairman of Globacom, Nigeria’s second-largest telecommunications company. He also owns Conoil, a major oil exploration and production company. Adenuga is known for his philanthropic efforts, including contributions to education and healthcare in Nigeria.
Business Ventures
A leading telecommunications company in Nigeria has expanded its operations to other West African countries and engaged in the exploration, production, and distribution of petroleum products.
Net Worth
As of 2024, Mike Adenuga’s net worth is estimated to be around $6.9 billion. His wealth comes from his investments in telecommunications, oil, and other sectors.
6. Abdulsamad Rabiu (Nigeria)
Abdulsamad Rabiu is a Nigerian billionaire businessman born on August 4, 1961, in Kano, Nigeria. He holds a degree in Economics from Capital University, Ohio, USA. He is the founder and chairman of BUA Group, a major conglomerate in Nigeria.
Achievements
Under his leadership, BUA Group has expanded into various sectors including cement, sugar, and real estate. Rabiu is known for his philanthropic work in education, healthcare, and poverty alleviation.
Business Ventures
One of Nigeria’s leading cement manufacturers, contributing significantly to the country’s infrastructure development. A major producer of sugar in Nigeria, playing a key role in the local sugar industry. Engaged in developing real estate projects across Nigeria.
Net Worth
As of 2024, Abdulsamad Rabiu’s net worth is estimated to be around $5.9 billion, with his wealth primarily coming from his investments in cement, sugar, and real estate.
7. Naguib Sawiris (Egypt)
Naguib Sawiris is an Egyptian billionaire businessman born on June 15, 1954, in Cairo, Egypt. He holds a degree in Engineering from the Swiss Federal Institute of Technology (ETH Zurich). Naguib is a member of the Sawiris family, known for their business acumen and wealth.
Achievements
He is a prominent figure in the telecommunications industry, having founded Orascom Telecom, which was a leading telecom operator in the Middle East and Africa. Sawiris has been involved in media through his ownership of the news channel Al-Mokawloon Al-Arab and investment in various media ventures. He is known for his philanthropic activities, particularly in education and cultural projects.
Business Ventures
Founded by Naguib Sawiris, this company was a major player in telecom and was later merged with other companies to form VEON. He has investments in real estate and tourism through this company. Sawiris has diverse investments in various sectors, including technology and finance.
Net Worth
As of 2024, Naguib Sawiris’s net worth is estimated at approximately $3.8 billion
8. Mohamed Mansour (Egypt)
Mohamed Mansour is an Egyptian billionaire businessman born in 1948 in Alexandria, Egypt. He earned a degree in Engineering from North Carolina State University and an MBA from Auburn University. Mansour is a key member of the Mansour family, one of Egypt’s wealthiest families.
Achievements
Mohamed Mansour is the chairman of the Mansour Group, a diversified conglomerate with interests in automotive, retail, and financial services. The group is the exclusive distributor of General Motors vehicles in Egypt and several other countries. Mansour Group operates the largest supermarket chain in Egypt, Metro, and has a substantial partnership with McDonald’s in Egypt. Mansour served as Egypt’s Minister of Transportation from 2006 to 2009.
Business Ventures
A multinational conglomerate with operations in over 100 countries, engaged in sectors such as automotive, consumer goods, and financial services. The group is a leading distributor of General Motors and Caterpillar products in Egypt and other regions. The group runs one of Egypt’s largest supermarket chains and the McDonald’s franchise in the country.
Net Worth
As of 2024, Mohamed Mansour’s net worth is estimated to be around $3.2 billion. His wealth comes from his diversified business interests in automotive distribution, retail, and other sectors.
9. Koos Bekker (South Africa)
Koos Bekker is a South African billionaire businessman born on December 14, 1952, in Potchefstroom, South Africa. Bekker holds a degree in Law and Literature from Stellenbosch University and an MBA from Columbia Business School in New York. He started his career in media and quickly became a pioneering figure in the industry.
Achievements
Bekker is best known for his role as the CEO of Naspers, a global consumer internet group and one of the largest technology investors in the world. He led the company’s transformation from a local print media firm into a global internet giant, notably through a strategic investment in Tencent, a Chinese tech company. Under his leadership, Naspers expanded into multiple continents, becoming a key player in global e-commerce, online classifieds, and fintech.
Business Ventures
During his tenure as CEO (1997-2014), Bekker oversaw the company’s growth, particularly its investment in Tencent, which became one of the most profitable investments in media history. He was instrumental in establishing Media24, Naspers’ subsidiary, which is the largest publishing group in Africa.
Net Worth
As of 2024, Koos Bekker’s net worth is estimated at around $2.7 billion. His wealth primarily stems from his stakes in Naspers and its successful investments in global technology companies.
10. Patrice Motsepe (South Africa)
Patrice Motsepe is a South African billionaire businessman and philanthropist, born on January 28, 1962, in Soweto, South Africa. He holds a law degree from the University of Swaziland and an LLM from the University of the Witwatersrand. Motsepe began his career as a lawyer, specializing in mining and business law. He comes from a business-oriented family; his father was a successful businessman.
Achievements
Motsepe is the founder and executive chairman of African Rainbow Minerals, a leading mining company in South Africa. He was the first black African to become a billionaire on the Forbes list. He has diversified his investments into various sectors, including finance, agriculture, and sports. Motsepe is known for his philanthropic work, including the establishment of the Motsepe Foundation. In 2013, he joined The Giving Pledge, committing to give away at least half of his wealth to charity.
Business Ventures
The company is involved in mining precious metals, minerals, and base metals, making Motsepe one of the most influential figures in South Africa’s mining industry. He holds a significant stake in Sanlam, a leading financial services group in South Africa. Motsepe is the owner of the Mamelodi Sundowns Football Club, one of the top football teams in Africa.
Net Worth
As of 2024, Patrice Motsepe’s net worth is estimated to be around $2.7 billion. His wealth primarily comes from his mining ventures, investments in financial services, and other business interests.
