9 hours ago
Nigerian oil magnate Aliko Dangote leads as Africa's elite hit record-busting $105 billion fortune
Africa's 22 billionaires saw their combined fortunes surge to a record $105 billion (R1.9 trillion) this year, up from $82.4bn held by 20 individuals last year, the Forbes 2025 Africa billionaires report showed.
South Africa hosts the most billionaires (seven), followed by Nigeria and Egypt (four each). Morocco has three, with one each from Algeria, Tanzania, and Zimbabwe. The growth was even as the continent faces persistent challenges such political instability and currency crises.
Nigerian industrialist Aliko Dangote retains top spot for the 14th consecutive year. His net worth jumped to $23.9bn, largely due to Forbes now valuing his long-delayed Lagos oil refinery. The refinery, aiming for full capacity soon, has enabled Nigeria to export refined products.
