Business

Dangote, 2 Other Nigerians Make List Of Africa’s Richest Billionaires

Nigerian business magnate, Aliko Dangote has maintained his position as the richest man in Africa for the 10th consecutive time, with a net worth pegged at $12.1 billion.

This was made known in the 2021 Forbes’ Africa Billionaires List released on Friday.

“For the tenth year in a row, Aliko Dangote of Nigeria is the continent’s richest person, worth $12.1bn, up by $2bn from last year’s list, thanks to a roughly 30 per cent rise in the share price of Dangote Cement, by far his most valuable asset,” Forbes stated in its report.

The two other Nigerians that joined Dangote on the list are; Mike Adenuga of Globacom, and Abdulsamad Rabiu of BUA Group, as the 5th and 6th richest persons in Africa respectively.

Rabiu, according to the report, is the biggest gainer of this year after he added $5.5 billion, an extraordinary 77 percent in his fortune last year.

“Remarkably, shares of his BUA Cement Plc, which listed on the Nigeria Stock Exchange in January 2020, have doubled in value in the past year,” the report stated.

Dangote, 2 Other Nigerians Make List Of Africa’s Richest Billionaires

Forbes named Nassef Sawiris of Egypt as the second richest person in Africa. Sawiris’s largest asset was a nearly six percent stake in sportswear maker Adidas.

While Nicky Oppenheimer of South Africa was number three on the list of African billionaires. He had inherited a stake in diamond firm DeBeers and ran the company until 2012 when he sold his family’s 40 percent stake in DeBeers to mining giant AngloAmerican for $5.1bn.

The billionaires’ list by country is led by South Africa and Egypt each having five billionaires, followed by Nigeria with three and Morocco with two billionaires.

However, the only two Africa’s richest women have fallen off the list.

According to Forbes, the fortune of Nigeria’s Folorunsho Alakija who owns an oil exploration company dropped below $1bn due to lower oil prices.

While Isabel dos Santos, who since 2013 had been the richest woman in Africa, was knocked from her perch by the series of court decisions freezing her assets in both Angola and Portugal.

“In all 18 billionaires from Africa hailed from seven different countries. Altogether they were worth $73.8bn, slightly more than the $73.4bn aggregates worth of the 20 billionaires on last year’s list of Africa’s richest people.”

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