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For too long, four big names have dominated the list of Africa’s wealthiest men, leading many to forget about the 10 others who have each amassed a net worth of more than $1 billion.
Altogether these 14 billionaires are cumulatively worth less than $80 billion, revealing just how far they lag behind the world’s richest man, Jeff Bezos, who has a net worth of $202.9 billion, and his South Africa-born counterpart, Elon Musk, who worth $194.8 billion.
Aside from Africa’s “Big Four” billionaires — Nigerian industrialist Aliko Dangote, Egypt’s biggest billionaire Nassef Sawiris and South African billionaires Johann Ruppert and Nicky Oppenheimer — these 10 billionaires are jointly valued at less than $45 billion.
#1 Mike Adenuga
Real-time net worth: $6.5 billion
Nigeria’s second-wealthiest man, billionaire Mike Adenuga is known for founding Globacom, the third largest telecom company in Nigeria, with 55 million subscribers.
The billionaire derives most of his wealth from his telecom company, while his stake in the Nigerian petroleum marketing company Conoil Plc contributes significantly to his wealth. Conoil operates six oil blocks in the oil-rich Nigerian Delta.
Adenuga has a net worth of $6.5 billion. According to Forbes, he made his first $1 million in 1979 at age 26, selling lace and distributing soft drinks.
#2 Issad Rebrab
Real-time net worth: $4.8 billion
Algeria’s wealthiest man Issad Rebrab is worth $4.8 billion, according to Forbes’ real-time estimate.
The Algerian billionaire derives his $4.8-billion fortune from Cevital, the largest private conglomerate in Algeria, with interests in agri-food, retail, industry and services.
Rebrab founded Cevital 23 years ago. The company has since grown into a behemoth that owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill and a German water purification company.
#3 Abdul Samad Rabiu
Real-time net worth: $4.5 billion
Like Africa’s wealthiest businessman Aliko Dangote, Abdul Samad Rabiu was one of the foremost industrialists in Nigeria in the 1970s and 1980s. He founded BUA Group in 1988.
Since then, BUA Group has grown into a Nigerian conglomerate with manufacturing, infrastructure and agricultural investments. The group maintains active operations in cement production, sugar refining and real estate.
Rabiu derives the majority of his $4.5 billion net worth from his flagship company BUA Cement.
Rabiu announced the listing of his food and business subsidiary earlier this year. However, nothing has been said about the group’s decision.
#4 Naguib Sawiris
Real-time net worth: $3.1 billion
Naguib Sawiris is an Egyptian billionaire businessman, who built a fortune in telecom through Orascom Telecom Holding (now Global Telecom Holding), a telecom outfit that he founded in 1998.
He sold the telecom company in 2011 to the Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction.
Sawiris is a scion of Egypt’s wealthiest family. According to Forbes, he has a net worth of $3.1 billion. His brother Nassef is also a billionaire.
#5 Patrice Motsepe
Real-time net worth: $2.9 billion
Motsepe is the president of the Confederation of African Football and the richest Black South African.
According to Forbes, Motsepe is worth $2.9 billion, deriving a total of $1.5 billion in gross terms from his 40-percent stake in the South African diversified mining and minerals company, African Rainbow Minerals, a company that he founded in 1997.
The billionaire, who is focused on investing in Africa, has a private equity firm, African Rainbow Capital. He also holds stakes in Sanlam, a listed financial services firm.
#6 Koos Bekker
Real-time net worth: $2.7 billion
Koos Bekker is a South African billionaire businessman and the chairman of the leading South African multinational media group, Naspers.
Bekker played a key role in the founding and growth of Prosus, a subsidiary of Naspers, founded under Bekker’s leadership as the company’s global Internet assets division.
The South African billionaire owns a sizeable stake in Naspers and derives most of his wealth from his stake in the group. He has a net worth of $2.7 billion, according to Forbes.
#7 Mohammed Mansour
Real-time net worth: $2.5 billion
Mohamed Mansour is an Egyptian billionaire businessman and former politician. He is the chairman of Mansour Group, a family conglomerate worth more than $6 billion that was founded by his father, Loutfy Mansour, in 1952.
He played a crucial role in the group’s growth, primarily through GM dealerships in Egypt, which he established in 1975. Mansour Group has since grown into one of the biggest GM distributors worldwide.
Mansour derives the majority of his $2.5-billion net worth from the company, alongside his brothers Yasseen and Youssef Sawiris, who are also billionaires.
#8 Aziz Akhannouch
Real-time net worth: $2 billion
Aziz Akhannouch is a Moroccan businessman and minister of agriculture since 2007. He derives his wealth from Akwa Group, a Moroccan conglomerate with investments in oil and gas.
The group also operates in the telecom, tourism, hotels and real estate sectors. Its service stations operate under the Afriquia brand.
According to Forbes, Akhannouch has a net worth of $2 billion, making him one of the richest men in Morocco.
#9 Mohammed Dewji
Real-time net worth: $1.6 billion
Mohammed Dewji is a Tanzanian billionaire businessman and former politician who served as a member of the Tanzanian Parliament from 2005 to 2015.
Dewji is the CEO of MeTL, a Tanzanian conglomerate founded by his father in the 1970s.
He derives the majority of his $1.6-billion fortune from the leading conglomerate, with active operations in textile manufacturing, flour milling, beverages and edible oils in East, Southern and Central Africa.
#10 Michiel Le Roux
Real-time net worth: $1.6 billion
Michiel Le Roux is a South African billionaire businessman and the founder of one of Africa’s largest retail banks, Capitec Bank.
The billionaire is said to be worth $1.6 billion, according to Forbes.
Recent research conducted by Billionaires.Africa revealed that the market value of his stake since July 20 has increased from R20.3 billion ($1.4 billion) to R24.3 billion ($1.7 billion) on Sept. 4.
