Fam, in this article we will be exploring the beautiful continent of Africa, and shedding some light on the top 10 richest people on the continent in 2021. 2020 was a tough year for everyone due to the COVID-19 pandemic which drastically affected Africa’s riches and caused a decline of African billionaire’s assets from 23 to 18. The only two female billionaires from Africa, unfortunately, dropped off the list. As of 2021, there are only 23 billionaires in Africa. Egypt and South Africa top the charts with 5 billionaires respectively. Nigeria lists 3 billionaires this year. The wealthiest people in Africa either founded their own companies from scratch or inherited them from their families.

As you are reading this article, you probably have some names popping into your head as to who might appear on this list. While the richest people in the world might not be from Africa, Africa for sure also has its own fair share of billionaires. Without any further ado, here are the top 10 billionaires in Africa as of 2021 according to Forbes Magazine.


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Koos Bekker is a South African billionaire and businessman, born 14 December 1952, he is the Chairman of Naspers a media group that currently operates in 130 countries. Naspers is listed in Johannesburg Stock Exchange and London Stock Exchange. Koos Bekker is credited with transforming Nasper into a cable Television Powerhouse and eCommerce investor.


Patrice Motsepe was born on January 28, 1962. He is a South African of Tsana descent and a billionaire. He first became a  billionaire in 2008 making him the first-ever black African to make it to the Forbes list. Patrice is the Chairman and founder of African Rainbow Capital that is focused on investing in Africa and has an interest in Gold, platinum, and other minerals. Patrice is also the founder and owner of Mamelodi Sundowns Football Club. He serves on the boards of many companies, including Harmony Gold, the world’s 12th largest gold mining firm, and Sanlam, where he is the deputy chairman. Motsepe was ranked South Africa’s richest man in 2012. The man is swimming in gold literally!


Naguib is a son from Egypt’s wealthiest family. His brothers, Naseef and Samih are also billionaires. Born 15 June 1954, Naguib is the CEO of Orascom TMT Holdings. Sawiris owns stakes in a number of gold mines around the world. Naguib made his wealth in the telecom industry. He sold Orascom Telekom to Veon in a deal that saw him bag dollars in billions.

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Issad Rebrab is a businessman and billionaire from Algeria and was born in 1944. Rebrab is the CEO of the Cevital industry which is the largest private company in Algeria and deals in food, electronics, steel. Rebrab was once sentenced to more than six months at El-Harrach prison for the offense of tax banking. ( He was sentenced to six months but spent eight months in prison). Rebrab is currently the richest man in Algeria.


Abdulsamad was born on 4 August 1960 in Nigeria, and he is a businessman and billionaire. AbdulSamad is credited as the founder of BUA Group, a conglomerate in Nigeria that mainly deals with infrastructure, manufacturing, and agriculture. AbdulSamad is the Chairman of the Bank of Industry, Nigeria.Rabiu acquired land from his father, who was a businessman. In 1988, he started his own business importing chemicals,iron and steel.

5.Mike Adenuga NET WORTH ($6.3B)

Mike Adenuga is a businessman and billionaire from Nigeria and was born on 29 April 1953. Globacom, his company founded on 29 August 2003 and is the second-largest telecom operation in Nigeria with a presence in Benin and Ghana. Mike Adenuga is a shareholder in the Equitorial Trust Bank and Conoil (previously Consolidated Oil Company), an oil exploration company. Nigeria’s second richest man, Adenuga, made his fortune in telecommunications and oil production.


Johann Rupert is an entrepreneur from South Africa and was born 1 June 1950. Johann is the chairman of Richemont a Swiss-based company and Remgro a South Africa-based company that all deals in luxury goods. He is the second richest person in South Africa according to Forbes list 2021. Rupert has been a strong opponent of fracking proposals in the Karoo, a South African region where he owns the land.

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Nicky is a billionaire and businessman from South Africa and was born on 8 June 1945. Nicky was the fourth richest person in Africa in 2020 and now has moved up to third place in 2021. Nicky was the chairman of Debeers diamond mining company as well as Diamond Trading Company. Fireblade Aviation, founded by Oppenheimer in Johannesburg, conducts chartered flights with a fleet of three planes and two helicopters. 


Nassef Sawiris was born in 1961 is an Egyptian businessman and billionaire. Nassef was previously the fourth richest person in Africa in 2020 according to Forbes list but has worked to beat Mike Adenuga and Nicky Oppenheimer to become the second richest person in Africa. He is considered the richest Arab and the second richest person in Africa. He gave $24.1 million to the University of Chicago in 2019 to help Egyptian students and fund an executive education program. He is the CEO of OCI, one of the largest nitrogen fertilizer producers in the world.

1.Aliko Dangote (NETWORTH $12.1B)

Yes, the richest man in Africa is in Nigeria. Aliko Dangote was born on 10 April 1957 in Nigeria, the most populous country in Africa. Aliko Dangote is currently the wealthiest person in Africa for the 10th year in a row and up by $2B from 2020 thanks to the rise in the share price of Dangote Cement. Dangote is not only a trading company but the largest industrial group in Nigeria. According to Forbes, Dangote used to buy sweets, give them to others to sell, and keep the earnings.


There you have it. Who will beat Dangote, and what elements could lead to this move? Share your comment in the section below.

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