• Tuesday, May 21, 2024
businessday logo


4 countries in Africa with the most billionaires in 2024 – Forbes

4 countries in Africa with the most billionaires in 2024 – Forbes

Africa is witnessing a notable increase in billionaire wealth, with numerous individuals amassing fortunes across various industries. Among African nations, four key players stand out in the billionaire landscape.

These billionaires represent substantial wealth and serve as catalysts for economic development and job creation. As Africa progresses toward prosperity, their roles in driving growth, fostering innovation, and addressing societal challenges become increasingly significant.

The Forbes report started “The 20 billionaires on the 2024 Forbes list of Africa’s Richest are worth a combined $82.4 billion. That’s up $900 million from last year’s $81.5 billion.”

The report highlighted all that gain is attributed to Nigeria’s Femi Otedola who reappeared on the Forbes Africa list in 2024 after his last appearance in 2017.

According to Forbes, here are 4 countries in Africa with the most billionaires in 2024 and their net worth as of April 10

South Africa – 6 billionaires

South Africa stands out as a powerhouse of wealth in Africa. Johann Rupert and family with a net worth of $11 bn, known for their investments in luxury goods, hold substantial stakes in companies like Richemont and Remgro.

Nicky Oppenheimer & family’s net worth of $9.5 bn, formerly at the helm of the De Beers diamond empire, continue to maintain their wealth through diversified investments.

With a net worth of $2.7 bn Koos Bekker, renowned for transforming Naspers into a global media giant, showcases the potential of tech investments.

Patrice Motsepe worth $2.6 bn, is the founder of African Rainbow Minerals, epitomizes success in mining and entrepreneurship.

Michiel Le Roux with a net worth of $1.3 bn, founder of Capitec Bank, symbolizes innovation in the financial sector.

With investments spanning retail and hospitality, with a net worth of $1.2 bn, Christoffel Wiese rounds up the list, reflecting the diversity of South Africa’s billionaire landscape.

Egypt – 5 billionaire

Egypt follows closely representing diverse sectors of the economy. Nassef Sawiris, part of the influential Sawiris family with a net worth of $8.8 bn , has stakes in construction, chemicals, and telecommunications.

Mohamed Mansour and his brothers Youssef and Yasseen have a net worth of $3.2 bn, $1.3 bn, and $1.2 bn respectively, leading the Mansour Group, a conglomerate with interests in automotive, retail, and real estate.

Naguib Sawiris with a net worth of $3.8 bn, a prominent telecom magnate, has played a pivotal role in shaping Egypt’s communication sector.

Nigeria – 4 billionaire

Nigeria, Africa’s largest economy has made its mark both domestically and internationally. Aliko Dangote worth $15.5 bn, often regarded as Africa’s richest man, built his fortune primarily through cement, sugar, and commodities investments.

Mike Adenuga, founder of Globacom and Conoil with a net worth of $7.0 bn, has diversified interests spanning telecom, oil, and real estate.

Abdulsamad Rabiu with a net worth of $6.5 bn, and business interests in cement, sugar, and real estate, reflects the entrepreneurial spirit driving Nigeria’s economy.

With a net worth of $1.7 bn, Femi Otedola, known for his investments in energy and finance, represents Nigeria’s growing prominence in the business world.

Morocco – 2 billionaire

Despite having fewer billionaires, Morocco’s wealth landscape showcases notable figures. Aziz Akhannouch & family worth $1.7 bn has investments in oil and gas, representing the energy sector’s influence.

Othman Benjelloun & family worth $1.5bn leads BMCE Bank of Africa, demonstrating the significance of financial services in Morocco’s economy.