Each year Forbes Magazine, the well-known US bi-weekly financial publication , releases its rankings of the world’s richest people. It recently published its list of the wealthiest Africans. Valued at November 2013, here are the top 5:
Aliko Dangote (Nigeria)
The wealthiest African by some margin, the 56 year old made his wealth in cement, sugar and flour. He made his first fortune more than three decades ago when he started trading commodities with a loan from an uncle.
US$20.8 bn (R219.6 bn)
Johann Rupert & family (South Africa)
Luxury goods tycoon and South Africa’s richest man, Johann Rupert owes his fortune to Swiss-based Compagnie Financiere Richemont, which owns brands including Cartier, Van Cleef & Arpels and Montblanc.
US$7,9 bn (R83.4 bn)
Nicky Oppenheimer & family (South Africa)
Formerly the chairman of the De Beers diamond mining company. He is estimated to own 1.8% of the shares in diversified mining company Anglo American, which his grandfather started in the early 1900’s.
US$6.6 bn (R69.7 bn)
Nassef Sawiris (Egypt)
Sawiris runs Orascom Construction Industries, Egypt’s most valuable public company. He ended a tax dispute with the government of Egypt’s then-president Mohamed Morsi in April 2013, agreeing to pay $1 billion
US$5.9 bn (R62.3 bn)
Mike Adenuga (Nigeria)
He is the founder of Globacom, Nigeria’s second-largest mobile phone network. He also owns Conoil, an oil exploration company. He made his first fortune at age 26 when he returned to Nigeria after studying in the U.S. He took over his mother’s sawmill business and distributed lace and Coca-Cola. He made some powerful friends within Nigeria’s military and cornered lucrative state construction contracts.
US$4.6 bn (R48.6 bn)