Despite Nigeria being the largest economy and being the home of Aliko Dangote, the richest man in Africa, the country does not have the highest number of billionaires in Africa.
Two other African countries are ahead of Nigeria in the ranking of African countries with the highest number of billionaires, with the number one having 6 billionaires and the second having 5 billionaires, while Nigeria comes third with four billionaires.
These billionaires come from countries with thriving industries like mining, manufacturing, telecommunications, and finance, using their wealth to drive innovation and create opportunities in Africa.
Here are 5 African countries with the highest billionaires.
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1. South Africa
With six billionaires, South Africa continues to hold the title of African nation with the most billionaires, according to Forbes’ 2024 analysis.
Financial services, technology, luxury products, and mining are some of the businesses that have contributed to the riches of these individuals. Patrice Motsepe, Koos Bekker, Michiel Le Roux, Christoffel Wiese, Nicky Oppenheimer and family, and Johann Rupert and family are among them.
2. Egypt
Egypt ranks second on this list, with five billionaires who have made significant contributions to the country’s economic growth in a variety of industries, including telecommunications, chemicals, and construction.
Yasseen Mansour, Mohamed Mansour, Youssef Mansour, Naguib Sawiris, and Nassef Sawiris are some of these well-known individuals.
3. Nigeria
Nigeria, the largest economy in Africa, is home to four billionaires who made their wealth in the industrial, telecommunications, and oil and gas sectors.
These billionaires are Mike Adenuga ($7 billion), a telecom and oil tycoon, and Aliko Dangote ($15.5 billion), a cement, oil and gas, and sugar tycoon. Abdulsamad Rabiu and Femi Otedola.
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4. Morocco
Morocco’s two billionaires, who gained their wealth from the banking and energy sectors, have earned the country a prominent spot on Africa’s billionaire map.
Aziz Akhannouch ($1.7 billion) and Othman Benjelloun ($1.5 billion) are these two billionaires.
5. Algeria
Aside from the first four African nations listed, Algeria is notable for having the richest person and family, Issad Rebrab, with an estimated net worth of $2.5 billion.
Rebrab is the founder and CEO of Cevital, the biggest private corporation in Algeria that works in a variety of sectors, including technology, steel, and agribusiness.
