Africa's top 20 billionaires: Pioneers of wealth, influence, and innovation

Africa’s wealthiest individuals are not just shaping their industries but also influencing the continent’s economic, social, and cultural landscapes. Their success stories, built on a foundation of hard work, smart thinking, and consistency highlight the diverse potential of Africa’s growing economies.

From telecommunications to diamonds, retail empires to luxury goods, these billionaires provide a glimpse into the continent’s economic diversity and global significance.

Their journeys, characterized by resilience, innovation, and ambition, serve as inspiration for the next generation of African entrepreneurs poised to make their mark on the global stage.

Here’s an in-depth look at the top 20 billionaires in Africa, exploring the industries they dominate, their lifestyles, and the journeys that led them to the peak of wealth and success.

Net Worth: $15.6 billion

Sector: Manufacturing (Cement, Sugar, Flour)

Aliko Dangote has reigned as Africa’s richest man for over a decade. Starting as a commodity trader, he transformed Nigeria’s industrial landscape with his conglomerate Dangote Group, which spans cement, flour, and sugar production. His next milestone? The Dangote Refinery, a project that’s set to revolutionize Nigeria’s oil industry.

Net Worth: $10.7 billion

Sector: Luxury Goods

Rupert is the head of Compagnie Financière Richemont, which owns luxury brands like Cartier and Montblanc. Though he keeps a low profile, his company reflects the ultimate in high-end sophistication. Rupert’s journey began by diversifying his father’s tobacco business into a global luxury powerhouse

Net Worth: $8.4 billion

Sector: Mining (Diamonds)

Heir to the De Beers diamond empire, Nicky Oppenheimer made headlines in 2012 by selling the family’s 40% stake in the company for $5.1 billion. Today, he focuses on philanthropy and environmental conservation, using his wealth to support causes across Africa.

Net Worth: $8.1 billion

Sector: Manufacturing (Cement, Sugar, Real Estate)

Founder of Nigeria’s BUA Group, Rabiu has built one of the country’s largest manufacturing empires. Known for his modest lifestyle, his business model focuses on sustainable growth in Nigeria’s complex economic landscape.

Net Worth: $7.2 billion

Sector: Construction, Chemicals

As one of Egypt’s most prominent investors, Nassef Sawiris leads Orascom Construction and holds a major stake in Adidas. Despite his wealth, Sawiris keeps a low profile, focusing on his work in construction and chemicals to drive Egypt’s economic development.

Net Worth: $6.1 billion

Sector: Telecommunications, Oil

Adenuga’s business empire spans telecommunications (Globacom) and oil (Conoil). Known for his lavish lifestyle, his entrepreneurial success in Nigeria’s telecom and energy sectors has made him a household name across Africa.

Net Worth: $5.1 billion

Sector: Food and Beverage

Rebrab's company, Cevital, is Algeria’s largest privately-held conglomerate, and one of the world’s largest sugar refineries. His rise from a modest background to becoming a top food industry mogul is a testament to the transformative power of entrepreneurship in Africa.

Net Worth: $3.3 billion

Sector: Telecom, Media

Naguib Sawiris made his fortune in telecom, selling Orascom Telecom to Russia’s VimpelCom. Known for his larger-than-life personality, he has since diversified into media and political ventures, investing across Africa and the Middle East.

Net Worth: $2.9 billion

Sector: Mining

As Africa’s first Black billionaire, Motsepe’s company, African Rainbow Minerals, has achieved significant success. A strong advocate of philanthropy, he has pledged to donate half his wealth to charitable causes, reinforcing his commitment to social impact.

Net Worth: $2.5 billion

Sector: Media, Technology

Bekker revolutionized South African media through Naspers, which he transformed into a global tech giant, largely through an early investment in Tencent. Known for his simple lifestyle, Bekker’s strategic vision has positioned Naspers at the forefront of digital innovation.

Net Worth: $2.5 billion

Sector: Diversified (Automotive, Retail)

As the head of the Mansour Group, Mohamed Mansour oversees one of Africa’s largest consumer businesses. His influence stretches across automotive and retail sectors, making him a key player in shaping Africa’s consumer economy.

Net Worth: $1.9 billion

Sector: Telecommunications

Founder of Econet, Masiyiwa is a telecom pioneer and one of Africa’s most respected business leaders. Known for his philanthropy and resilience, his journey from Zimbabwe’s economic challenges to global success is a source of inspiration for many African entrepreneurs.

Net Worth: $1.5 billion

Sector: Manufacturing

CEO of MeTL Group, Dewji has transformed his family’s trading company into Tanzania’s largest conglomerate. Known for his philanthropy, Dewji is Africa’s youngest billionaire, representing the rise of a new generation of leaders on the continent.

Net Worth: $1.4 billion

Sector: Consumer Electronics, Manufacturing

As the founder of Maser Group, Suri has made a name for himself in consumer electronics and large-scale manufacturing. His focus on expanding Africa’s tech landscape marks him as a rising star in the continent’s entrepreneurial ecosystem.

Maser Group had an acquisition of $5 billion valuation by Shandong Chia Group.

15. Youssef Mansour

Net Worth: $1.1 billion

Sector: Retail, Consumer Goods

Youssef Mansour oversees Egypt’s largest supermarket chain, part of the family’s Mansour Group empire. Despite his low-key lifestyle, his influence in Africa’s retail sector is undeniable.

Net Worth: $1.1 billion

Sector: Banking, Insurance

Benjelloun’s BMCE Bank is a pillar of North Africa’s finance industry. His business influence stretches across the region, and his classic lifestyle reflects his long-standing role in Morocco’s economic development.

Net Worth: $1 billion

Sector: Banking

Le Roux founded Capitec Bank, which revolutionized South African retail banking by making financial services more accessible to everyday people. His vision for inclusive banking has made Capitec one of the country’s most innovative financial institutions.

Net Worth: $1 billion

Sector: Retail

Wiese built Shoprite into Africa’s largest retail chain, cementing his legacy as a retail magnate. Despite recent setbacks, his contributions to Africa’s retail landscape remain influential.

Net Worth: $900 million

Sector: Manufacturing, Real Estate

Youssef Dewji plays a key role in his family’s business empire, expanding into manufacturing and real estate. His entrepreneurial spirit is emblematic of the Dewji family’s legacy in Tanzania.

Net Worth: $900 million

Sector: Oil and Gas

As Morocco’s Prime Minister and head of Akwa Group, Akhannouch’s influence spans both business and politics. His leadership exemplifies the intersection of governance and business in shaping North Africa’s future.