Dangote, Rabiu, Adenuga make 2022 Forbes’ Africa richest people list

By Alao Abiodun


The Chairman and Chief Executive Officer of Dangote Group, Aliko Dangote, has been named the richest man in Africa for the 11th year in a row by Forbes.

According to Forbes, Dangote is worth an estimated $13.9 billion, which is up from $12.1 billion last year after a 30% increase in the stock price of his most valuable asset, Dangote Cement.

Also, Nigerian business tycoon and founder of the BUA Group, Abdulsamad Rabiu, came in fifth with around $7 billion in net worth.

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The Forbes report stated that Rabiu became $1.5 billion richer after listing his sugar and food firm BUA Foods on the Nigerian Exchange Limited in early January 2022.

“He and his son retained a 96% stake in the company, which recently had a market capitalization of nearly $2.8 billion. BUA Cement, in which he and his son have a 96% stake, listed in January 2020,” Forbes stated.

The Founder and CEO of Globacom, Mike Adenuga, comes in a close sixth after Rabiu with an estimated net worth of $6.7 billion.

Below are the full lists of Africa richest people:

1            Aliko Dangote    $13.9 B 64           cement, sugar

2           Johann Rupert    $11 B     71           luxury goods

3           Nicky Oppenheimer         $8.7 B    76           diamonds

4           Nassef Sawiris    $8.6 B    61           construction, investments

5           Abdulsamad Rabiu            $7 B       61           cement, sugar

6           Mike Adenuga    $6.7 B    68           telecom, oil

7           Issad Rebrab       $5.1 B    78           food

8           Naguib Sawiris   $3.4 B    67           telecom

9           Patrice Motsepe               $3.1 B    59           mining

10        Koos Bekker        $2.7 B    69           media, investments

10        Strive Masiyiwa  $2.7 B    60           telecom

12        Mohamed Mansour         $2.5 B    74           diversified

13        Aziz Akhannouch               $2.2 B    61           petroleum, diversified

14        Michiel Le Roux $1.7 B    72           banking

15        Othman Benjelloun          $1.5 B    89           banking, insurance

15        Mohammed Dewji            $1.5 B    46           diversified

15        Youssef Mansour              $1.5 B    76           diversified

18        Yasseen Mansour             $1.1 B    60           diversified


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