Dangote Retains Africa’s Richest Man Status for the Ninth Consecutive Year


Business tycoon, Alike Dangote has retained his position as the richest man in Africa for the ninth consecutive year in the latest ranking of the world’s billionaire by Forbes Magazine. 

Dangote’s net worth was put at $10.1bn which is a $200m drop from his $10.3bn worth in 2019.

Chairman of Globacom, a telecommunication giant, Mike Adenuga, was ranked third in Forbes Africa billionaire list and was valued at $7.7bn.

Adenuga shared the third position with a South African, Nicky Oppenheimer.

Two Nigerians also made the top 20 African billionaire list making it four Nigerians in total. 

Abdulsamad Rabiu, with 98.5 per cent stakes in BUA Cement Plc, is in number eight position while Folusho Alakija, the Vice Chair of Nigeria’s Famfa Oil with a net worth of $1bn completed Nigerians in the top 20 African billionaires.

The report said altogether, Africa’s billionaires are richer than a year ago as the continent’s 20 billionaires are worth a combined $73.4bn, up from $68.7bn a year ago.

The report added that only eight countries have billionaires with South Africa and Egypt dominating not only the top 10 richest people in Africa list, but in the rankings overall with five billionaires each.