In early 2018, representatives of Forbes magazine summed up last year's results and published the list of top 21 richest people in Africa 2017.
Let's consider the main changes that occurred since the beginning of last year. Richest men in Africa began to feel more confident due to the performance of their stock. Their number was increased by two new members. In the past Forbes list there were 21 billionaires, now their number has grown to 23.
Top 21 African billionaires and their net worth
- Aliko Dangote - $12.2 billion (cement, sugar, flour), Nigeria
- Nicky Oppenheimer - $7.7 billion (diamonds), South Africa
- Johann Rupert - $7.2 billion (luxury goods), South Africa
- Nassef Sawiris - $6.8 billion (construction, chemicals), Egypt
- Mike Adenuga net worth $5.3 billion (telecom, oil), Nigeria
- Issad Rebrab - $4 billion (food), Algeria
- Naguib Sawiris - $4 billion (telecom), Egypt
- Koos Bekker - $2.8 billion (media, investments), South Africa
- Isabel dos Santos - $2.7 billion (investments), Angola
- Mohamed Mansour - $2.7 billion (diversified), Egypt
- Patrice Motsepe - $2.4 billion (mining), South Africa
- Aziz Akhannouch - $2.2 billion (petroleum, diversified), Morocco
- Yasseen Mansour - $1.9 billion (diversified), Egypt
- Strive Masiyiwa - $1.7 billion (telecom), Zimbabwe
- Folorunsho Alakija - $1.6 billion (oil), Nigeria
- Othman Benjelloun - $1.6 billion (banking, insurance), Morocco
- Mohammed Dewji - $1.5 billion (diversified), Tanzania
- Youssef Mansour - $1.4 billion (diversified), Egypt
- Michiel le Roux - $1.2 billion (banking), South Africa
- Stephen Saad - $1.2 billion (pharmaceuticals), South Africa
- Desmond Sacco - $1.1 billion (mining), South Africa
- Onsi Sawiris - $1.1 billion (construction, telecom), Egypt
- Christoffel Wiese - $1.1 billion (retail), South Africa
Aliko Dangote confidently holds the title of the richest man in Africa for the seventh year. This raw material tycoon has accumulated $12.2 billion. Earlier he had $100 million fewer. Many people know him as a successful cement trader. In fact, Dangote enterprises also produce fertilizers and process oil.
South African businessman Nicky Oppenheimer took the second place in the fight for the right to be called the richest person in Africa owing to successful diamond mining. There are $7.7 billion at his disposal. This is $700 million more than in the previous ranking.
READ ALSO: Richest Oba in Nigeria - Top 7
In total there are 8 billionaires from South Africa on the list. One of the South Africans is Michiel le Roux. He is the founder and former chairman of Capitec Bank. During the past year, the shares of the company have grown by more than half. This factor in many respects helped the businessman to succeed and provided him with a net worth of $1.2 billion.
Desmond Sacco, the mining tycoon from South Africa, returned to the list due to the growth of stock prices. During 2017, they have increased by 60%.
At the end of 2017, the financial situation of Steinhoff International company deteriorated when the general public learned about inaccuracies in the accounting. Because of this, the net worth of acting chairman Christoffel Wiese fell below 1 billion. On the wave of failures, he resigned.
Forbes carried out calculations on January 5 and found $1.1 billion on his account. Of course, a year ago he had $5.5 billion, which is why this success is not so significant. It is worth noting that on January 10, shares became cheaper again and Wiese's net worth was lower than $1 billion. Due to this fact, he should not be included in this rating. But at the time of ranking drafting, he was quite entitled to this.
Also, the new rating pleased all the residents of Zimbabwe since the first billionaire appeared in this country – a telecommunication businessman Strive Masiyiwa, head of the Econet Group. In the course of the past year, there has been an increase in the shares of his phone network. Since Masiyiwa owns more than 50% of this enterprise, these changes have directly affected his budget. He also owns shares in the fiber-optic organization Liquid Telecom. In the summer of 2017, it raised 700 million in bond offering. At the moment, the net worth of the entrepreneur is $1.7 billion.
Among the 23 leaders of African business, there are 2 ladies. Isabel dos Santos, the daughter of the former president of Angola, has $2.7 billion now. In the past, the rating indicated her net worth to be $3.2 billion. Her fortune decreased because of the decline in the earnings of Angolan bank Banco BCI. At the moment, the country is experiencing difficulties with oil production, which has affected the company's well-being.
The second lady on the list is Folorunsho Alakija which all women in Nigeria can be proud of. Her current net worth is $1.6 billion. This high figure is supported by the successful operation of her enterprise Famfa Oil cooperation with Petrobras and Chevron.
The youngest in the rating is 42-year-old Mohammed Dewji. By inheritance from his father, he got a group of textile and food companies which were expanded due to his own painstaking work. At the moment, Dewji's net worth is $1.5 billion.
The oldest African billionaire is 88 years old Onsi Sawiris who founded Orascom Construction in 1950. After the organization was privatized by the authorities of Abdel Nasser, Sawiris had to create one more construction company from scratch.
Two of his sons also managed to earn their billions. For example, this is Nassef Sawiris who is the 4th richest man in Africa. The wealth of $6.8 billion allows him to be the richest businessman in Egypt. A year ago, his net worth was $5.3 billion. Positive changes were due to the growth of shares of Adidas, the cement company LaFargeHolcim and the enterprise engaged in the production of fertilizers OCI.
Anas Sefrioui from Morocco has left the list this year due to the fact that the shares of the organization Douja Promotion Groupe Addoha reduced by about 30%. Now his net worth is 950 million.
13 of 23 businessmen on the list were able to increase their savings. They decreased for 4 people. All the rest remained on the same positions as before. The rating includes representatives of South Africa (8), Egypt (6), Nigeria (3), Morocco (2) and Algeria, Angola, Tanzania and Zimbabwe (1).
The list intended only for those people who live in Africa and have their companies on the territory of this continent. Also, family fortunes were not taken into account, since the wealth of a family consisting of dozens of people has more chances to get to the first lines of the rating.
When calculating the net worth, Forbes specialists relied on stock prices and exchange rates valid at January 5, 2018.
Now you know the 21 richest people in Africa. We will notify you about the latest Forbes updates and the events in African business world.
READ ALSO: Top 10 richest sportsmen in the world