The 18 African billionaires in dollars come from 7 English-speaking countries with the exception of two Moroccans and one Algerian. More than the language effect, it is rather the demographic and technological lever added to the depth of the capital market that make Nigerians, Egyptians and South Africans dominate this Forbes ranking, which must be circumscribed within its methodological limits because it is based on market capitalization stopped at January 19, the exchange rate of African currencies against the dollar and not taking into account unlisted assets. Note that Isabel Dos Santos, the only African billionaire in dollars, no longer appears in this 100% male ranking.
Overall, the fortunes of Africa’s 18 billionaires grew by 15% in 2021 to $84.9 billion. According to the American magazine Forbes, which excludes from this African ranking the Sudanese Mo Ibrahim (holder of a British passport) and the Egyptian Mohamed Al-Fayed, a London resident, the Nigerian Aliko Dangote is still the richest man in Cape Town in Cairo for the 11th consecutive year with a fortune of 13.9 billion dollars thanks in particular to a 30% rise in the price of Dangote Cement. Behind, the competition is advancing rapidly. The South African Johann Rupert, with a fortune that has grown from 7.2 to 11 billion dollars, driven by a 60% jump in the price of his Compagnie Financiere Richemont, owner of several brands including the Cartier watch and the Montblanc pen, could dethrone Nigerian if both maintain their same rate of evolution in 2022.
Another South African, heir to white South Africa, stands out in this ranking. This is Nicky Oppenheimer (8.7 billion dollars), who sold the family firm DeBeers to the Anglo Anerican conglomerate ten years ago. North Africans are well represented in this ranking. Thus, Egyptian billionaire, Nasef Sawiris, ranked fourth on the list, with an estimated net worth of $8.6 billion as of January 23, 2022. His brother, Naguib Sawiris, came in eighth, with a net worth of $3.4 billion.
Another Egyptian billionaire, Mohamed Mansour, who oversees the Mansour family group, ranked 12th on the list, which also included his brothers, Yassin and Youssef, who share ownership of the group and ranked 18th and 15th respectively.
The Forbes list also included Algerian billionaire Issad Rebrab and his family, who ranked seventh on the Forbes list, with a net worth of $5.1 billion. Rebrab is the only Algerian to be named.
In addition, two Moroccans appear in this ranking. First of all, Aziz Akhannouch, recently appointed Prime Minister, comes in 13th place in this ranking with a fortune estimated at 2.2 billion dollars in the distribution of petroleum products, gas and chemicals. His compatriot Othman Benjelloun, boss of the BMCE Bank Of Africa Group, is 15th with
a fortune estimated at 1.5 billion dollars.
At the bottom of the pack, the Zimbabwean Strive Masiyiwa with 2.7 billion dollars has seen his wealth increase substantially. The price of mobile operator Econet Wireless Zimbabwe soared 750% in 2021.
The Nigerian Abdulsamad Rabiu, known in cement, is rich of 1.5 billion dollars thanks to the IPO of his sugar company BUA Food where he and his son hold 96%.
Other billionaires have seen their fortunes dwindle. Case of the South African Koos Bekker rich of 2.7 billion dollars against 2.8 billion last year because of the poor form of his media and telecommunications group Naspers. The Tanzanian Mohammed Dewji also found himself in headwinds with a fortune estimated at 1.5 billion dollars against 1.6 previously.
It should be noted that there has been no new fortune registered in the 2022 vintage which reproduces the same names appearing in the previous one although in different positions.
