Edited by Nancy Okojie, MBA in English and Literary Studies
Africa, a continent rich in resources and burgeoning with economic potential, is home to a growing number of billionaires who have built vast empires in various sectors. These individuals are not just figures of immense wealth; they are pioneers of industry, innovators, and philanthropists whose influence extends far beyond their national borders. This article provides a detailed look at some of the wealthiest people in Africa, their biographies, and the sources of their impressive fortunes.
Africa’s 22 billionaires saw their fortunes rise to a total of $105 billion, up from $82.4 billion and 20 billionaires last year and they never seem to relent in their businesses of money making.
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The LeadWay21 list of billionaires tracts the wealth of 21 African billionaires who reside in Africa or have their primary business there.
Note: Net worths were calculated using stock prices and currency exchange rates.
The wealth of Africa’s billionaires is as diverse as the continent itself, with fortunes stemming from a wide range of industries, including cement, telecommunications, luxury goods, mining, and food production. While the exact rankings and net worth can fluctuate due to market conditions, the names on this list consistently represent the pinnacle of African business success.
Aliko Dangote of Nigeria tops the list for the 14th year in a row with an estimated net worth of $23.9 billion, up from $13.9 billion a year ago. The big jump in his fortune is primarily due Forbes adding the value of his refinery, which opened last year on the outskirts of Lagos after long delays. The refinery struggled for years to take off due to regulatory disputes and other setbacks, but started refining a small amount of oil in early 2024 and is slated to reach full capacity this month. That has allowed Nigeria–a major oil-producing country–to begin exporting some refined petroleum products.
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South Africa had the largest number of billionaires this year, with seven, followed by four from Nigeria and four from Egypt. The list also includes three billionaires from Morocco, one from Algeria (Isaad Rebrab), one from Tanzania (Mohammed Dewiji) and one (Masiyiwa) from Zimbabwe.
The Top 21 Richest People in Africa 2025
The following list is compiled based on recent data and provides a snapshot of the most prominent billionaires on the continent.
21. Yasseen Mansour
Yasseen Mansour is the third of the Mansour brothers on this list. He is the chairman of Palm Hills Developments, a leading real estate developer in Egypt. Like his brothers, he also has a significant stake in the Mansour Group, the family’s diversified conglomerate.
Nationality: Egyptian
Net Worth: $1.2 billion
Source of Wealth: Diversified (Mansour Group)
20. Youssef Mansour
Youssef Mansour, the eldest of the Mansour brothers, serves as the chairman of the family’s holding company, the Mansour Group. He is responsible for the company’s consumer goods and retail operations, including the distribution of brands like McDonald’s and Pepsi in Egypt.
Nationality: Egyptian
Net Worth: $1.4 billion
Source of Wealth: Diversified (Mansour Group)
16. Christoffel Wiese
Christoffel Wiese is a South African retail tycoon. He is the former chairman of Pepkor, a major discount retail group that he helped build into a powerhouse. His wealth is also tied to his significant investments in other retail companies.
Nationality: South African
Net Worth: $1.5 billion
Source of Wealth: Fashion & Retail
16. Femi Otedola
Femi Otedola is a well-known Nigerian businessman and philanthropist.
Otedola’s early career success was defined by his establishment of Zenon Petroleum and Gas Limited in 2003. His acquisition of state-owned African Petroleum (AP) which he rebranded as Forte Oil PLC.
Otedola’s wealth is heavily concentrated in Geregu Power PLC, where he is the executive chairman and a majority shareholder. He has also diversified his portfolio with significant investments in the banking sector, holding major stakes in institutions like Zenith Bank and FBN Holdings, where he is the single largest shareholder.
Nationality: Nigerian
Net Worth: $1.5 billion
Source of Income: Energy, Finance, Real Estate
16. Jannie Mouton & Family
Johannes “Jannie” Mouton co-founded the stockbroking firm Senekal, Mouton & Kitshoff. He founded the PSG Group in November 1995 turning PSG into a financial powerhouse. The cornerstone of his immense fortune is his early and significant investment in Capitec Bank as Capitec has since grown into one of South Africa’s largest and most successful retail banks. The PSG Group has also been instrumental in building other successful businesses, including the private education company Curro.
Nationality: South African
Net Worth: $1.5 billion
Source of Income: Finance, Banking, Investments
16. Aziz Akhannouch & Family
Aziz Akhannouch is the majority owner of Akwa Group, a Moroccan conglomerate founded by his father. The company has significant interests in petroleum, gas, and chemicals. He is also a prominent political figure in Morocco, having served as the Minister of Agriculture and Fisheries.
Nationality: Moroccan
Net Worth: $1.5 billion
Source of Wealth: Petroleum, Agribusiness
14. Anas Sefrioui & Family
Anas Sefrioui is a self-made Moroccan billionaire, in 1988, he founded Groupe Addoha, a real estate development company. He established cement plants in Morocco and expanded his operations to other African countries, including Cameroon, Gabon, and Ivory Coast. Anas Sefrioui serves as the company’s chairman and CEO, with his daughter, Kenza, also holding a key position as deputy chairman.
Nationality: Moroccan
Net Worth: $1.6
Primary Sources of Income: Real Estate, Cement
14. Othman Benjelloun & Family
Othman Benjelloun is the CEO of BMCE Bank of Africa, one of the largest banks in Morocco. He inherited the banking and insurance business from his father, but has significantly expanded its operations, making it a major financial institution with a presence across Africa.
Nationality: Moroccan
Net Worth: $1.6 billion
Source of Wealth: Finance, Insurance
12. Michiel Le Roux
Michiel Le Roux is the co-founder of Capitec Bank, a rapidly growing and innovative retail bank in South Africa. He served as the bank’s chairman and remains a board member. The bank’s focus on low-cost banking and financial inclusion has made it a major success in the South African market.
Nationality: South African
Net Worth: $2.2 billion
Source of Wealth: Finanace, Investment
12. Mohammed Dewji
Mohammed “Mo” Dewji is the CEO of MeTL Group, a Tanzanian conglomerate founded by his father. The company is involved in a wide range of sectors, including textile manufacturing, food processing, and beverages. Dewji is also a former member of the Tanzanian parliament.
Nationality: Tanzanian
Net Worth: $2.2 billion
Source of Wealth: Diversified (MeTL Group)
10. Issad Rebrab & Family
Issad Rebrab is the founder and CEO of Cevital, Algeria’s largest privately held company. The company owns one of the largest sugar refineries in the world and has a diverse portfolio that includes agribusiness, glass manufacturing, and retail. Rebrab is known for his industrial and entrepreneurial vision in Algeria.
Nationality: Algerian
Net Worth: $3 billion
Source of Wealth: Food & Beverages
10. Patrice Motsepe
Patrice Motsepe is the founder and chairman of African Rainbow Minerals, a diversified mining company with interests in platinum, gold, and other ferrous metals. He was the first black African to be on the Forbes billionaires list. He also owns the Mamelodi Sundowns Football Club and is the president of the Confederation of African Football (CAF).
Nationality: South African
Net Worth: $3 billion
Source of Wealth: Metals & Mining
8. Mohamed Mansour
Mohamed Mansour oversees the Mansour Group, a family-owned conglomerate that is one of the largest in Egypt. The group has exclusive distribution rights for General Motors vehicles in Egypt and a major investment in Caterpillar. Mansour also served as a former Minister of Transport in Egypt.
Nationality: Egyptian
Net Worth: $3.4 billion
Source of Wealth: Diversified (Mansour Group)
8. Koos Bekker
Koos Bekker is the former CEO of Naspers, a South African media and technology company. He is credited with transforming the company from a local publisher into a global e-commerce and media giant. A significant portion of his wealth is attributed to his strategic investments, including Naspers’ early investment in Tencent, the Chinese internet behemoth.
Nationality: South African
Net Worth: $3.4 billion
Source of Wealth: Media, Investments
7. Naguib Sawiris
Naguib Sawiris is the elder brother of Nassef Sawiris and also a prominent Egyptian billionaire. He built a fortune in the telecommunications sector through his company, Orascom Telecom Holding, which he later sold to VimpelCom (now VEON). He is now involved in various investments, including owning stakes in gold mining companies and real estate.
Nationality: Egyptian
Net Worth: $5 billion
Source of Wealth: Telecommunications, Media
6. Abdulsamad Rabiu
Abdulsamad Rabiu is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in cement, sugar, and real estate. His company, BUA Cement, is a major player in the country’s cement industry, and his BUA Foods division is a key player in the food and agribusiness sector. Rabiu’s father was also a prominent businessman, and Abdulsamad took over the family business at a young age.
Nationality: Nigerian
Net Worth: $5.1 billion
Source of Wealth: Cement, Sugar, Real Estate
5. Mike Adenuga
Mike Adenuga is the founder of Globacom, Nigeria’s second-largest telecommunications operator, with a presence in Ghana and Benin. He also owns a stake in the oil exploration company Conoil. A graduate with a degree in business administration, he made his first million in 1979 by selling lace and distributing soft drinks before moving into the oil and telecom sectors.
Nationality: Nigerian
Net Worth: $6.8 billion
Source of Wealth: Telecommunications, Oil
4. Nassef Sawiris
Nassef Sawiris is Egypt’s wealthiest person and the youngest of the three billionaire brothers in the Sawiris family. He is a scion of the Orascom Group, a massive construction and engineering firm founded by his father. His primary source of wealth comes from a controlling stake in Orascom Construction Industries (OCI) and his significant holdings in sports and luxury goods, including a stake in the sports team Aston Villa.
Nationality: Egyptian
Net Worth: $9.6 billion
Source of Wealth: Construction, Investments
3. Nicky Oppenheimer & Family
Nicholas “Nicky” Oppenheimer is a South African billionaire who formerly served as the chairman of the De Beers diamond mining company. His family’s long history with diamonds dates back to his grandfather, Ernest Oppenheimer, who founded Anglo American. The Oppenheimer family sold its 40% stake in De Beers to Anglo American in 2012, but they continue to be one of the wealthiest families in Africa.
Nationality: South African
Net Worth: $10.4 billion
Source of Wealth: Metal, Diamond & Mining
2. Johann Rupert & Family
Johann Rupert is the chairman of the Swiss-based luxury goods company Richemont, known for brands like Cartier and Montblanc. He is also the chairman of the South Africa-based company Remgro, which has diverse investments. Rupert’s father, Anton Rupert, founded the tobacco and industrial company Rembrandt Group, which Johann restructured to create Richemont, turning it into a global luxury powerhouse.
Nationality: South African
Net Worth: $14 billion
Source of Wealth: Fashion & Retail Luxury Goods
1. Aliko Dangote
Aliko Dangote is the founder and chairman of the Dangote Group, a multinational industrial conglomerate. He started his business empire with a small loan from his uncle to import and sell commodities. The group has since expanded to become the largest industrial conglomerate in West Africa, with significant interests in cement manufacturing, sugar refining, and flour milling. His company, Dangote Cement, is the largest cement producer in Africa.
Nationality: Nigerian
Net Worth: $23.9 billion
Source of Wealth: Cement, Sugar, Flour, Oil
