Top 10 African Billionaires 2017

Who are the African billionaires of 2017 ? They are 25, up from 24 last year. Mohammed Dewji of Tanzania is still the youngest billionaire in Africa with a fortune Forbes estimates at $1.09 billion. Angolan investor Isabel dos Santos and oil tycoon Folorunsho Alakija of Nigeria still remain the only two female billionaires on the continent.

In the top 10 this year, there are 2 Nigerians (including the richest man in Africa), 3 South Africans, 2 Egyptians, one Algerian, one Angolan and one Swazi. Here are the first 10 billionaires in Africa according to Forbes:

1) Aliko Dangote, Nigerian

Net Worth: $12.2 billion
Source Of Wealth: Cement, flour, sugar, salt

2) Nicky Oppenheimer, South African

Net Worth: $7 billion
Source Of Wealth: Diamonds

“The DeBeers diamond heir sold his 40% stake in DeBeers to Anglo American for $5.1 billion in cash in 2012. Anglo American, which Nicky’s grandfather founded, controls 85% of De Beers. He served on Anglo American’s board for 37 years until 2011, and retains an estimated 1% stake in the company.”

3) Mike Adenuga, Nigerian

Net Worth: $6.1 billion
Source Of Wealth: Telecom, Oil, Real Estat

“Mike Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the second largest operator in Nigeria with 36 million subscribers; it also has operations in Ghana and the Republic of Benin.

His exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. He also owns real estate firm Proline Investments, which has hundreds of properties throughout Nigeria. “

4) Johann Rupert, South African

Net Worth: $6.3 billion
Source Of Wealth: Luxury Goods

“Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont. Best known for the brands Cartier and Montblanc, the company was formed in 1998 by spinning off international assets owned by Rembrandt Group Limited (now Remgro Limited), a South African company his father Anton founded in the 1940s as a tobacco manufacturer. Rupert owns a 7% stake in diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding company based in Luxembourg that has a stake in British American Tobacco. He also owns part of the Saracens English rugby team and Anthonij Rupert Wines, named after his deceased brother.”

5) Nassef Sawiris, Egyptian

Net Worth: $6.2billion
Source Of Wealth: Construction, Chemicals

“Egypt’s richest businessman, Nassef Sawiris, runs OCI, one of the largest nitrogen fertilizer producers in the world. It has plants in Texas, and is building facilities in Iowa. Originally Orascom Construction Industries, Sawiris split the company into two entities in 2015. Orascom Construction now trades on Egypt’s exchange and Nasdaq Dubai, while OCI, the fertilizer and chemicals business, trades on the Euronext Amsterdam exchange. Sawiris also owns nearly 5% of cement giant LafargeHolcim, and 7% of Adidas. A University of Chicago graduate, he donated $20 million to the school in 2015 to establish a scholarship program named after his father, Onsi. The funds benefit Egyptian students.”

6) Christoffel Wiese, South African

Net Worth: $5.9 billion
Source Of Wealth: Retail

“Bargain Shopping African retail tycoon made an end run on big urban-market competitors by targeting rural and low-income areas with rock-bottom prices and everyday items. His central distribution system also made more efficient work of stocking shelves. Wiese today presides over 11,000 stores across 30 countries.”

7) Nathan Kirsch, Swazi

Net Worth: $3.9 billion
Source Of Wealth: Retail

“Nathan Kirsh made his first fortune in his native Swaziland, founding a corn milling business in the country in 1958. He expanded into wholesale food distribution in apartheid South Africa, and then into supermarkets and commercial property development. The bulk of his current fortune comes from Jetro Holdings, which operates Jetro Cash and Carry stores and restaurant Depots in the New York City area – supplying wholesale goods to bodegas, small stores and restaurants. Kirsh’s charitable endeavors are focused on Swaziland, where he has supplied more than 12,000 people with starter capital for small businesses.”

8) Naguib Sawiris, Egyptian

Net Worth: $3.8 billion; Source Of Wealth: Telecom

“Naguib Sawiris captured world headlines in 2015, when he offered to buy an island from Greece or Italy to settle refugees fleeing the war in Syria. Sawiris built his fortune in telecom (…) Since 2013, Sawiris has built major stakes in gold mining companies that operate in Canada, Australia and Africa.”

 9) Isabel dos Santos, Angolan

Net Worth: $3.1 billion
Source Of Wealth: Investments

“Africa’s richest woman, Isabel dos Santos is the oldest daughter of Angola’s longtime president. According to Forbes research, he transferred stakes in several Angolan companies to her. In June 2016, he appointed her the head of Sonangol, Angola’s state oil firm. “

“Dos Santos’ assets in Angola include 25% of Unitel, the country’s largest mobile phone network, and 42% of a bank, Banco BIC. In Portugal she owns nearly 6% of oil and gas firm Galp Energia (alongside Portuguese billionaire Americo Amorim), and nearly 19% of Banco BPI, the country’s fourth-largest bank She is also a controlling shareholder of Portuguese cable TV and telecom firm Nos SGPS (formerly called Zon).”

10) Issad Rebrab, Algerian

Net Worth: $3 billion
Source of Wealth: Food

“Issad Rebrab founded Algeria’s biggest privately held conglomerate, Cevital. It owns one of the largest sugar refineries in the world, with an annual output of 1.6 million tons; it also produces vegetable oil and margarine.”

“Rebrab has been diversifying by buying European companies in distress. In 2014, he acquired Groupe Brandt, a large French-based maker of appliances that had filed for bankruptcy protection. Cevital has invested more than $200 million to build a Brandt plant in Algeria. “

Source: Forbes

Author: Gova-Media