Aliko Dangote, the founder of Dangote Group, has retained his position as Africa’s richest man, as the combined wealth of the continent’s billionaires rose to $126.7 billion.
According to the latest ranking by Forbes, the fortunes of Africa’s 23 billionaires increased by $20.3 billion over the past year.
The report said the figure represents a 21 percent rise from 2025.
Dangote’s net worth climbed to $28.5 billion after shares of Dangote Cement surged nearly 69 percent since March last year, with the company also reporting a record N1 trillion profit in 2025.
The ranking also showed that Abdulsamad Rabiu, chairman of BUA Group, recorded the biggest wealth increase on the list, with his net worth rising by 120 percent, or $6.1 billion, to $11.2 billion.
The gain moved Rabiu from the sixth spot to third place among Africa’s richest individuals, behind South African luxury goods magnate, Johann Rupert, who maintained his second position with $16.1 billion.
Forbes attributed Rabiu’s surge largely to the performance of BUA Cement, whose shares rose by 135 percent over the past year.
The fourth spot was occupied by Nicky Oppenheimer & family with $10.6 billion net worth, which increased by $200 million from $10.4 billion in April 2025.
Nassef Sawiris, an Egyptian businessman who owns a stake in Aston Villa F.C. and holds about 6 percent of Adidas, completed the top five list with a $9.6 billion net worth — the same fortune he had last year, according to Forbes.
Other Nigerians on the list are Mike Adenuga, the founder of Globacom, who was ranked sixth — from fifth spot last year — with a $6.5 billion fortune, and Femi Otedola, the chairman of First HoldCo, who dropped to the 22nd position with $1.3 billion, from 16th spot.
Adenuga’s net worth dropped by $300 million, while that of Otedola decreased by $200 million, after selling most of his stake in Geregu Power Plc at a discount, according to Forbes.
The publication said they are among the four of the 23 billionaires who became poorer in the last year.
Among them is Anas Sefrioui, a Moroccan real estate developer, whose wealth fell by about $300 million to $1.3 billion, after shares of Group Addoha dropped by more than 30 percent.
According to the publication, South Africa remains home to the largest number of billionaires in Africa, with seven on the list, followed by Egypt (five), Nigeria (four) and Morocco (three).
The report noted that 14 of the 23 billionaires are self-made, while there are currently no female billionaires in Africa.
Forbes said the ranking tracks African citizens who reside on the continent or have their primary businesses there.
