NAIROBI, Kenya – Africa’s wealthiest individuals have seen their fortunes rebound significantly in the past year, with the continent’s 22 billionaires now worth a combined 105 billion— a 22.6 billion increase from 2024’s $82.4 billion.
The latest rankings, published in Forbes Africa’s April-May 2025 issue, reveal a reshuffling of fortunes, dominated by Nigeria, South Africa, Egypt, and Morocco.
Aliko Dangote of Nigeria once again tops the list, maintaining his spot as Africa’s richest person for the 14th consecutive year with a fortune of $23.9 billion.
Dangote, who built his empire through cement, sugar, and recently, a massive oil refinery, saw his wealth surge by $10.5 billion.
His operations span across Africa, with Dangote Cement alone capable of producing nearly 50 million metric tons annually.
Johann Rupert, a South African luxury goods mogul, secures second place with $14 billion, while Nigerian telecom giant Mike Adenuga follows with $6.8 billion.
South African media investor Koos Bekker also made a significant mark with $3.4 billion, thanks to his transformative role at Naspers, a company that holds a significant stake in Tencent.
Interestingly, while countries like South Africa, Nigeria, Egypt, and Morocco dominate the list, Kenya fails to secure a place despite its status as an economic hub in East Africa.
The highest wealth in the region is attributed to businessman Chris Kirubi, who passed away in 2021, and while there are millionaires aplenty in Kenya, none have made the billionaire threshold.
This year’s list reveals that South Africa leads the pack with seven billionaires, followed by Egypt with five, and Nigeria with four.
Morocco is home to three billionaires, while Algeria, Tanzania, and Zimbabwe each boast one.
Among the notable returnees are the Moroccan real estate tycoon Anas Sefrioui, whose wealth surged to $1.6 billion, and South African retail magnate Christoffel Wiese, who rejoined the ranks at $1.5 billion.
On the other hand, Zimbabwean telecom billionaire Strive Masiyiwa saw the largest decline in wealth, losing $600 million.
Nonetheless, his net worth still remains at a robust $1.2 billion.
This year’s growth in Africa’s billionaires, particularly from industries such as telecom, energy, and cement, highlights the continent’s ongoing economic transformation.
Yet, Kenya’s absence raises important questions about the country’s ability to foster the kind of wealth generation seen in its regional counterparts.
Could it be a reflection of regional disparities, or does Kenya’s entrepreneurial ecosystem face hurdles that hinder the creation of significant wealth?
As African economies evolve, Kenya will likely need to address these gaps to secure its place among the continent’s billionaires.
Full List Highlights:
- Aliko Dangote – $23.9 billion (Nigeria)
- Johann Rupert & Family – $14 billion (South Africa)
- Nicky Oppenheimer & Family – $10.4 billion (South Africa)
- Nassef Sawiris – $9.6 billion (Egypt)
- Mike Adenuga – $6.8 billion (Nigeria)
- Abdulsamad Rabiu – $5.1 billion (Nigeria)
- Naguib Sawiris – $5 billion (Egypt)
- Mohamed Mansour – $3.4 billion (Egypt)
- Koos Bekker – $3.4 billion (South Africa)
- Patrice Motsepe – $3 billion (South Africa)
- Issad Rebrab & Family – $3 billion (Algeria)
- Mohammed Dewji – $2.2 billion (Tanzania)
- Michiel Le Roux – $2.2 billion (South Africa)
- Anas Sefrioui & Family – $1.6 billion (Morocco)
- Othman Benjelloun & Family – $1.6 billion (Morocco)
- Aziz Akhannouch & Family – $1.5 billion (Morocco)
- Femi Otedola – $1.5 billion (Nigeria)
- Jannie Mouton & Family – $1.5 billion (South Africa)
- Strive Masiyiwa – $1.2 billion (Zimbabwe)
- Christoffel Wiese – $1.2 billion (South Africa)
- Youssef Mansour – $1.4 billion (Egypt)
- Yasseen Mansour – $1.2 billion (Egypt)
The surge in wealth across the continent, led by figures like Dangote and Rupert, demonstrates the potential for further economic expansion.
However, Kenya’s absence raises questions about the country’s position in this competitive landscape.
The list was compiled using Forbes’ Real-Time Billionaires database, which reflects net worths as of March 7, 2025.
The continent’s billionaires come from diverse sectors, including telecommunications, oil, mining, and luxury goods, with several of them becoming industry icons and key players in both the African and global economy.
