Top 15 Richest People in Africa in 2021
As we see more and more intensive economic activities across the continent, the African economy is booming. Analysts anticipate that with a nominal GDP of $2.9 trillion, amazing improvement will be seen in the coming years.
You probably might have heard of the most richest or wealthiest person in Africa, Yes, he still remains at the top as the wealthiest.
However, we have some other billionaires from various field of business or expertise that you might never know or never knew they will even be on the list of 30 richest people in Africa.
Check the list below for we have done this to encourage our readers by sharing the success of others as an inspirational piece to motivate you to work extra hard and strategise on your financial investment and also look at your expenditure.
.Africa’s GDP is estimated to reach $29 trillion by 2050. Forbes identified 23 people having a net worth of more than a billion dollars in 2018. The billionaires of Africa hail from seven different countries. South Africa and Egypt have five billionaires each, while Nigeria and Morocco have three each. The top 15 African billionaires collectively have a net worth of $76 billion.
In the year 2020, the African economy contracted by 2.1 percent. However, African billionaires, like their counterparts around the world, saw their fortunes increase by more than 12%. Vehicle manufacture, oil production, real estate development, the telecom sector, luxury products, and other industries are among the industries where these millionaires are concentrated.
As the African economy improves, the wealth of these high-net-worth individuals will increase much more. With a projected growth rate of 3.4 percent in the fiscal year 2021, Africa’s GDP will see a comeback.
Our Richest People in Africa Ranking Criteria
When it comes to dealing with high-net-worth individuals and companies, Forbes is unquestionably the place to go. For our list of Africa’s wealthiest people, we drew inspiration from Forbes’ list of the world’s wealthiest people from 2021.
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The list of 15 Richest People in Africa starting from the bottom:
15) Othman Benjelloun (Morocco)
Estimated Net worth: $1.3 billion (2021) Age: 88
Othman Benjelloun’s main source of wealth is BMCE (Moroccan Bank for External Trade), which has operations in over 20 African nations. Othman’s father acquired a part in RMA, a Moroccan insurance firm that Benjelloun built into the country’s top insurer. Through his investment business FinanceCom, Othman also has shares in the Moroccan arm of French telecom major Orange. FinanceCom is also a partner in Tangiers, Morocco’s multibillion-dollar innovation metropolis initiative. In addition, Othman Benjelloun is an Honorary Trustee at CSIS (Center for Strategic & International Studies). Othman has also put his money into philanthropic issues such as education and the environment.
14) Youssef Mansour
Country: Egypt Age: 75
EstimatedNet worth: $1.5 billion (2021)
Youssef Mansour is the chairman of the Mansour Group, a family-owned corporation formed by his father Loutfy Mansour in 1952. Mansour Group is one of Africa’s greatest corporations, with operations in over a hundred countries and a $7.5 billion revenue. In Egypt and several other countries, Mansour Group is the official distributor of GM (NYSE: GM) vehicles and Caterpillar (NYSE: CAT) machinery. Mansour Group has grown into a formidable conglomerate over the years, with agreements and investments in a variety of industries. GM, Philips Morris (NYSE: PM), McDonald’s (NYSE: MCD), and other companies are among its clients. It also has the rights to distribute important IT products.
13) Mohammed Dewji
Country: Tanzania Age: 45
Estimated Net worth: $1.6 billion (2021)
METL (Mohammad Enterprises Tanzania Limited), a Tanzanian conglomerate started by his father in the 1970s, is led by Mohammed Dewji. Dewji originally made waves in October 2018 when he was kidnapped in Darussalam (Tanzania), but he was released after nine days. In eastern, southern, and central Africa, METL is involved in textile manufacture, flour milling, drinks, and edible oils. METL is currently active in six African nations, with plans to grow to several more. Dewji is Tanzania’s first billionaire, and in 2016 he signed the Giving Pledge, pledging to donate at least half of his income to charitable causes.
12) Aziz Akhannouch
Country: Morocco Age: 60
Estimated Net worth: $2 billion (2021)
Morocco’s Minister of Agriculture and Fisheries, Aziz Akhannouch, is also the top shareholder in the Akwa Group, a multibillion-dollar corporation founded by his father in 1932. It has investments in a variety of petroleum products, including coal and chemicals, through publicly traded Afriquia Gaz and Maghreb Oxygene. Aziz has recently entered the media market by acquiring Caractères, a well-known company in Morocco’s media industry. Aziz is also Morocco’s second wealthiest guy.
11) Mohamed Mansour
Estimated Net worth: $2.5 billion (2021)
Mohamed Mansour, like his brother Youseff, is the head of the Mansour Group, a family-owned corporation. Mr. Loutfy Mansour, the founder of Mansour Group, began with humble beginnings, and his three sons have grown it into a $7.5 billion conglomerate that operates in a wide range of industries, including automotive and consumer goods, banking and real estate, education, health care, transportation and logistics. Mansour Group operates in over a hundred countries and has exclusive rights of manufacture. Mohamed Mansour was also Egypt’s Minister of Transportation from 2006 until 2009, when he was appointed by President Hosni Mubarak.
10) Koos Bekker
Country: South Africa
Estimated Net worth: $2.8 billion (2021)
Naspers’ chairman, Koos Bekker, is a South African media mogul (JSE: NPN). Outside of China, the United States, and India, Naspers has the greatest market capitalization. It is traded on the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE). Naspers offers classified advertising, internet payments, fintech (financial technology), and food delivery services.
During his time as CEO of the Naspers Group, Bekker’s salary consisted primarily of stock option grants. From 1997 to 2014, Naspers’ market value grew from $1.2 billion in the early 2000s to $46 billion at the end of Bekker’s stint as CEO. His early decision to invest in Tencent, a Chinese IT and technology company, was a wise one.
9) Patrice Motsepe
Patrice Motsepe made his money in the mining industry. Motsepe began his legal career at Bowman Gilfillan in Johannesburg. He later launched African Rainbow Minerals in 1997, which specializes in the mining and processing of minerals such as gold, ferrous metals, base metals, and platinum. He was just named president of the Confederation of African Football (CAF) (CAF). He also serves on the boards of directors of significant African corporations such as Harmony Gold, the BRICS Business Council, and Sanlam.
Motsepe was the first black African to be named to Forbes’ list of billionaires in 2008. In 2013, Patrice Motsepe signed the Giving Pledge, pledging to donate half of his fortune to charity.
8) Naguib Sawiris
Estimated Net worth: $3.2 billion (2021)
Naguib Sawiris is a member of one of Egypt’s wealthiest families. Orascom Telecom Holdings is his current position as chairman. Orascom Telecom Holdings has grown into one of Africa’s most successful telecom firms under Naguib’s leadership. He also formed the Weather investment firm, which later purchased the Italian telecom business Wind Telecomunicazioni S.p.A. Wind telecom and Global Telecom Holdings combined with VimpelCom in 2011, forming Veon (NASDAQ: VEON), the world’s sixth-largest mobile telecommunications operator by subscriber count, with operations in 20 countries and 181 million users. Through his Media Gl company, Naguib also has an 88 percent share in Euronews.
7) Issad Rebrab
Estimated Net worth: $4.8 billion (2021)
Issad Rebrab, Algeria’s richest man, made his fortune primarily from his company Cevital, which specializes in the food industry. Cevital was founded by Rebrab in 1998. Cevital Algeria is the country’s largest conglomerate, with operations in automobile, domestic appliances, transportation (road and sea), float glass production, and large-scale retail. Rebrab founded many additional enterprises in the accountancy, steel, and metal industries before forming the Cevital company. Rebrab has also expanded his firm by purchasing businesses in Europe, Africa, and South America. Issad was sentenced to eight years in prison in April 2019 on counts of corruption, tax, banking, and customs violations.
6) Abdulsamad Rabiu
Estimated Net worth: $5.5 billion (2021)
Abdulsamad Rabiu’s conglomerate, the BUA group, has assets in manufacturing, infrastructure, and agricultural, making him a well-known figure in the Nigerian economic sector. Nigeria is one of the world’s most important crude oil producers. However, it is dependent on oil imports due to a lack of oil refineries, resulting in a large deficit that strains Nigeria’s economy. Rabiu struck an agreement with Axen, France’s largest hydrocarbon firm, in September 2020 to provide processing technologies for Rabiu’s oil refinery in Akwa Ibom, Nigeria. This audacious action elevates the BUA group to one of Nigeria’s and Africa’s most powerful powers. Rabiu also owns a 98.5 percent share in the company.