Africa’s wealthiest individuals are transforming industries, influencing economic, social, and cultural landscapes, and elevating the continent’s global significance. Their stories, built on resilience, innovation, and ambition, inspire future generations of African entrepreneurs.
Here’s an in-depth look at Africa’s top 20 billionaires in 2024, their industries, and their paths to success;
Aliko Dangote — Nigeria
Net Worth: $15.6 billion. Sector: Manufacturing (Cement, Sugar, Flour)
Africa’s richest man, Dangote, began as a commodity trader and now heads the Dangote Group, a conglomerate transforming Nigeria’s cement, sugar, and flour industries. With the Dangote Refinery nearing completion, he aims to revolutionize Nigeria’s oil sector and reduce reliance on imports.
A prominent philanthropist, Dangote’s foundation has committed millions to health, education, and disaster relief across Africa, including a $1 billion endowment. His work in food security, disease control, and infrastructure development cements his role as a key figure in Africa’s socioeconomic progress.
Johann Rupert — South Africa
Net Worth: $10.7 billion. Sector: Luxury Goods
As chairman of Compagnie Financière Richemont, Rupert oversees iconic brands like Cartier and Montblanc. After diversifying from his father’s tobacco business, he established a global luxury empire and now focuses on legacy projects, including conservation in South Africa.
Rupert’s investments in environmental preservation and cultural heritage underscore his commitment to protecting South Africa’s natural beauty, making him both an industrial magnate and a champion of sustainability.
Nicky Oppenheimer — South Africa
Net Worth: $8.4 billion. Sector: Mining (Diamonds)
After selling his family’s De Beers stake for $5.1 billion in 2012, Oppenheimer turned his focus to philanthropy and conservation. Through trusts supporting education and environmental initiatives, he’s fostering a sustainable Africa.
Notable efforts include the African Leadership Academy, which grooms future leaders, and scholarships benefiting thousands of students, solidifying his legacy as a driver of social impact.
Abdulsamad Rabiu — Nigeria
Net Worth: $8.1 billion. Sector: Manufacturing (Cement, Sugar)
Rabiu’s BUA Group emphasizes sustainable growth, creating jobs and spurring economic development in Nigeria. His expanding real estate portfolio also supports urban infrastructure. Rabiu’s philanthropy includes building hospitals and funding education initiatives, particularly in underserved communities, positioning him as a force for both business and social progress.
Nassef Sawiris — Egypt
Net Worth: $7.2 billion. Sector: Construction, Chemicals
As head of Orascom Construction and a major Adidas shareholder, Sawiris plays a key role in Egypt’s economic growth. His foundation funds scholarships, healthcare, and community programs, showcasing his dedication to using wealth as a tool for positive change.
Mike Adenuga — Nigeria
Net Worth: $6.1 billion. Sector: Telecommunications, Oil
Owner of Globacom and Conoil, Adenuga has reshaped Nigeria’s telecom landscape and expanded his reach in West Africa. Despite his low profile, his philanthropy spans education, healthcare, and the arts, underscoring his commitment to societal development.
Issad Rebrab — Algeria
Net Worth: $5.1 billion. Sector: Food and Beverage
Founder of Cevital, Algeria’s largest private company, Rebrab runs one of the world’s largest sugar refineries. His support for education and vocational training highlights his vision for empowering young Algerians and fostering economic stability.
Naguib Sawiris — Egypt
Net Worth: $3.3 billion. Sector: Telecom, Media
Sawiris built Orascom Telecom before selling it and branching into media and other investments. His foundation focuses on job creation, education, and rural development, emphasizing his commitment to Egypt’s progress.
Patrice Motsepe — South Africa
Net Worth: $2.9 billion. Sector: Mining
Motsepe, Africa’s first Black billionaire, leads African Rainbow Minerals. He’s pledged half his wealth to philanthropy and advocates for sustainable mining. His leadership extends to African sports organizations, including the Confederation of African Football (CAF).
Koos Bekker — South Africa
Net Worth: $2.5 billion. Sector: Media, Technology
Bekker transformed Naspers into a global tech giant through early investments in Tencent. Known for his modest lifestyle, he invests in arts, culture, and education, embodying the power of innovation and visionary investment.
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Mohamed Mansour — Egypt
Net Worth: $2.5 billion. Sector: Diversified (Automotive, Retail)
As head of Mansour Group, Mansour has expanded operations in automotive and retail, shaping Africa’s consumer economy. His socially responsible practices underscore his dedication to community empowerment.
Strive Masiyiwa — Zimbabwe
Net Worth: $1.9 billion. Sector: Telecommunications
Founder of Econet, Masiyiwa’s global telecom network reflects his resilience and innovation. His philanthropic work on global boards addresses inequalities, blending business acumen with social responsibility.
Mohammed Dewji — Tanzania
Net Worth: $1.5 billion. Sector: Manufacturing
As CEO of MeTL Group, Dewji turned a family business into Tanzania’s largest conglomerate. His investments drive industrial development, inspiring a new generation of African entrepreneurs.
Prateek Suri — MEA
Net Worth: $1.4 billion. Sector: Consumer Electronics
Suri’s Maser Group is transforming Africa’s tech landscape by providing affordable, high-quality electronics. His initiatives support education and tech skills, advancing Africa’s digital transformation.
Youssef Mansour — Egypt
Net Worth: $1.1 billion. Sector: Retail, Consumer Goods
Mansour heads Egypt’s largest supermarket chain, driving growth in retail and consumer goods. His work emphasizes accessible retail as a cornerstone of economic development.
Othman Benjelloun — Morocco
Net Worth: $1.1 billion. Sector: Banking, Insurance
Leading BMCE Bank, Benjelloun fosters economic stability through finance and insurance. His philanthropic focus on education and the environment aligns with his vision for sustainable development.
Michiel Le Roux — South Africa
Net Worth: $1 billion. Sector: Banking
Founder of Capitec Bank, Le Roux revolutionized South African banking with affordable financial services. His success highlights the role of accessibility and innovation in transforming the financial sector.
Christoffel Wiese — South Africa
Net Worth: $1 billion. Sector: Retail
Wiese built Shoprite into Africa’s largest retail chain, expanding access to consumer goods. Despite challenges, his investments in education and community development reinforce his legacy.
Youssef Dewji — Tanzania
Net Worth: $900 million. Sector: Manufacturing, Real Estate
Dewji has expanded his family’s business into manufacturing and real estate, supporting Tanzania’s economic growth. His philanthropic initiatives in education and healthcare emphasize a holistic approach to development.
Aziz Akhannouch — Morocco
Net Worth: $900 million. Sector: Oil and Gas
As Morocco’s prime minister and head of Akwa Group, Akhannouch’s leadership in energy and governance drives regional progress. His focus on poverty reduction and infrastructure development highlights his vision for a more prosperous Morocco.
