The coronavirus pandemic in 2021, had massive negative impacts on many Africans. Even though the virus’ influence on economies seems to be easing, many are still counting their losses. One particular set of people who are not counting as many losses in Africa are the billionaires.
Though these billionaires certainly incurred losses during the pandemic, their combined wealth continues to increase. As gathered by Ikeanumba Africa, the 18 billionaires in Africa are worth a combined USD 73.8 billion; up from the USD 73.8 billion, 20 billionaires were worth in 2020. This means each billionaire is averagely worth USD 4.1 billion; more than last year’s average of USD 3.67 billion.
Africa’s richest are from 7 different countries; Egypt and South Africa with five each, Nigeria having three, two are from Morocco, while Algeria, Tanzania, and Zimbabwe have one each.
Note that this list does not include Egyptian Mohamed Al-Fayed, and Eswatini billionaire Nathan Kirsh, who do not reside or have their primary businesses in Africa.
18 Yasseen Mansour
Nationality: Egyptian
Net Worth (2021): USD 1.1 Billion
Age: 60
Residence: Cairo, Egypt Source Of Wealth: Diversified
Egyptian Yasseen Mansour is a shareholder in the family-owned Mansour Group, which is the distributor of Genera Motors (GM) vehicles, in Egypt and other countries. He schooled at George Washington University, where he earned a Bachelor’s degree in Arts/Science. Mansour is also the chairman of Palm Hills, one of the biggest real estate developers in Egypt.
17 Othman Benjelloun & family
Nationality: Morocco
Net Worth (2021): USD 1.3 Billion
Age: 88
Residence: Casablanca, Morocco Source Of Wealth: Banking, Insurance
Othman Benjelloun is the CEO of BMCE Bank, one of the biggest banks in Africa, with a presence in over 20 African countries. His holding company FinanceCom has a stake in the Moroccan arm of French international telecoms company, Orange. In 2014, Benjelloun unveiled a plan to build a USD 500 million 55-story Mohammed VI Tower in Rabat; a structure that would be one of the tallest buildings in Africa. He is also the co-owner of Ranch Adarouch, one of the biggest cattle ranches in Africa. The Moroccan billionaire earned a diploma in engineering at Ecole Polytechnique de Lausanne and invests a lot in philanthropy including environmental conservation and education.
16 Michiel Le Roux
Nationality: South African
Net worth (2021): USD 1.4 Billion
Age: 72
Residence: Stellenbosch, South Africa Source Of Wealth: Banking
Michiel Le Roux owns about 11% stake in Capitec Bank, which he founded in 2001. The South African was Capitec’s board chairman from 2007 to 2016, after which he became a board member. Capitec Bank is one of the biggest banks in South Africa, with over 800 branches and 13,000 staff. Le Roux had previously been in charge of Boland Bank, a regional bank based in Cape Town.
15 Youssef Mansour
Nationality: Egyptian
Net worth (2021): USD 1.5 Billion
Age: 76
Residence: Cairo, Egypt Source Of Wealth: Diversified
Youssef Mansour is the elder brother of Yasseen
Mansour, and also a shareholder of the family- owned Mansour Group founded by their father Loutfy Mansour, in 1956. Mansour is in charge of the consumer goods division of Mansour Group. This division includes a chain of supermarkets named Metro, and the rights to be the sole distributor of L’Oreal cosmetics in Egypt. He has a master’s degree in business administration from Auburn University and a Bachelor of Science in engineering degree from North Carolina State University
14. Mohammed Dewji
Nationality: Tanzanian
Net Worth (2021): USD 1.6 Billion
Age: 46
Residence: Dar es Salaam, Tanzania Source Of Wealth: Diversified
Mohammed Dewji is not only the lone Tanzanian on this list, he is also the youngest. He is the CEO of Mohammad Enterprises Tanzania Limited (METL), which was founded by his father in the 1970s. METL deals in textile manufacturing, beverages, flour milling, and edible oils, from eastern, central, and southern Africa. Currently, METL is operational in six African countries, and there are plans to expand to more countries. In 2016, Dewji pledged to donate at least half of his net worth to philanthropy
13. Aziz Akhannouch & family
Nationality: Moroccan
Net Worth (2021): USD 2 Billion
Age: 60
Residence: Casablanca, Morocco
Source of Wealth: Petroleum, Diversified
Aziz Akhannouch is the majority shareholder of Akwa Group, which was founded in 1932 by his father, Ahmed Wakrim. Akwa Group has investments in the production of petroleum products, like coal and chemicals, through the publicly-traded Afriquia Gaz and Maghreb Oxygene. Akhannouch also recently acquired Caractères, a respected name in the Moroccan media industry. Apart from being the second richest man in Morocco, he is currently the country’s Minister of Agriculture and Fisheries, whilst also being the president of the Royalist Political Party. He holds a master’s in business administration degree from Universite de Sherbrooke
12. Strive Masiyiwa
Nationality: Zimbabwean Net Worth (2021): USD 2.4
Billion Age: 60
Residence: London, United Kingdom
Source Of Wealth: Telecoms
The only Zimbabwean on the list, Strive Masiyiwa studied in the UK before working for Zimbabwe’s phone company, ZPTC. After ZPTC, he started his engineering services firm, before founding Econet Wireless Zimbabwe in 1998, despite serious opposition from the Zimbabwean government. Currently, he owns over 50% of publicly- owned Econet Wireless Zimbabwe, which is part of the Econet Group. And also, over half of the privately-owned Liquid Telecom. Masiyiwa also has investments in mobile network companies, in Burundi and Lesotho, as well as power distribution firms across Africa.
He holds a Bachelor of Engineering Degree from the University of Wales. Along with his wife, Tsitsi, he owns HigherLife Foundation, which provides aid for orphans in Zimbabwe, South Africa, Burundi, and Lesotho.
11. Mohamed Mansour
Nationality: Egyptian Net Worth (2021): USD
2.5 Billion Age: 73
Residence: Cairo, Egypt
Source Of Wealth: Diversified
Mohamed Mansour is one of the three Mansour brothers who own the Mansour Group, a USD 7.5 billion conglomerate that operates in multiple sectors including automobiles, banking, and consumer goods. He oversees the Mansour Group in general, and served as Egypt’s Minister of Transportation from 2006 to 2009, under the leadership of Hosni Mubarak. Mansour holds a master’s degree in business administration from Auburn University.
10. Koos Bekker
Nationality: South African Net Worth (2021): USD 2.5
Billion Age: 68
Residence: Cape Town, South Africa
Source Of Wealth: Media, Investments
Koos Bekker is the chairman of Naspers, a South African media group listed on both Johannesburg (JSE) and London (LSE) stock exchanges. Bekker transformed Naspers from a media outfit to an E-commerce investor; with investments in online payment, food delivery, financial technology (Fintech), and advertising. Under Bekker’s leadership, Naspers also took over profitable companies like MTN, DSTV, and OLX. Bekker has a master’s in business administration from Columbia Business School and a Bachelor of Law degree from the University of Witwatersrand.
9. Patrice Motsepe
Nationality: South African Net Worth (2021): USD 2.6
Billion Age: 59
Residence: Johannesburg, South Africa
Source Of Wealth: Mining
Mining magnate Patrice Motsepe is the chairman of African Rainbow Minerals, which he founded in 1997. In 2008, he became a billionaire and also the first black African on the Forbes list. In 1994, he became the first black partner of Bowman Gilfillan law firm, in Johannesburg. Motsepe is a major force in African football as he is currently the president of Confederation for African Football (CAF), and the owner of the South African Football Club, Mamelodi Sundowns. The Johannesburg-based billionaire has a stake in major African companies like Sanlam, Harmony Gold, and BRICS Business Council. In 2013, Motsepe pledged to donate half of his fortune to philanthropic causes.
8 Naguib Sawiris
Nationality: Egyptian
Net Worth (2021): USD 3 Billion
Age: 66
Residence: Cairo, Egypt
Source Of Wealth: Telecoms
Naguib Sawiris is the chairman of Orascom Telecom Holdings, one of the most successful telecommunication outfits in Africa. He is the founder of Weather Investment Group, which later bought an Italian telecoms company Wind Telecomunicazioni S.p.A. In 2011, Wind Telecom and Global Telecom Holdings merged with Russian telecoms firm, VimpelCom (now Veon); making it the 6th largest mobile telecommunications provider in the world. Sawiris, who is very popular in Egypt, also owns an 88% stake in Euronews through his firm, Media Globe holdings. He holds both Masters of Science and Bachelor of Arts/Science degrees from the Swiss Federal Polytechnical Institute.
7. Abdulsamad Rabiu
Nationality: Nigerian Net Worth (2021): USD
4.2 Billion Age: 61
Residence: Lagos, Nigeria
Source Of Wealth: Cement, Sugar
Abdulsamad Rabiu is the chairman of BUA Group, a Nigerian company that is active in cement production, sugar refining, and real estate. In the early part of 2020, he merged his privately-owned Obu Cement Company with the publicly traded Cement Co. of Northern Nigeria, to form BUA Cement PLC. He currently owns about 98.5% of BUA Cement PLC. Nigeria is one of the largest oil producers in the world, but it relies on oil imports due to insufficient oil refineries. To take care of this problem, Rabiu signed a deal with French hydrocarbon company Axen, to provide processing technology for his refinery in Akwa Ibom State, Southern Nigeria.
6. Issad Rebrab and family
Nationality: Algerian
Net Worth (2021): USD 4.8 Billion
Age: 77
Residence: Algiers, Algeria Source Of Wealth: Food
Issad Rebrab is the only Algerian on this list, and he made most of his wealth from his food company, Cevital, which is the largest privately-owned company in Algeria. Rebrab founded Cevital in 1998, and it has the world’s largest sugar refinery; with the capacity of producing 2 million tons of sugar annually. Cevital has also diversified by owning European companies like French home appliance company Groupe Brandt, an Italian steel mill, and a German water purification company. Rebrab comes from a family that fought for Algeria’s independence from France.
5. Mike Adenuga
Nationality: Nigerian
Net Worth (2021): USD 6.3 Billion
Age: 67
Residence: Lagos, Nigeria Source Of Wealth: Telecoms, Oil
Mike Adenuga is the second richest man in Nigeria, he got most of his wealth from the mobile network company Globacom. Adenuga founded Globacom in 2003, and it is currently the third-largest network operator in Nigeria, with over 55 million subscribers. He also owns an oil exploration company, Conoil which operates six oil blocks in the oil-rich Niger Delta region, in Nigeria. Adenuga made his first million in his mid-20 by selling clothing materials, and soft drinks. He holds a master’s degree in business administration from Pace University.
- 4.Johann Rupert and family
Nationality: South African
Net Worth (2021): USD 7.2 Billion
Age: 70
Residence: Cape Town, South Africa Source Of Wealth: Fashion
South African billionaire Johann Rupert, is the chairman of Swiss luxury goods firm Compagnie Financiere Richemont. The firm is best known for the Cartier and Montblanc brands, which he formed in 1998. He is also the chairman of Remgro Limited, a diversified investment firm, and owns a 25% stake in Luxembourg-based investment holding company, Reinet.
- 3. Nicky Oppenheimer and family
Nationality: South African
Net Worth (2021): USD 8 Billion
Age: 75
Residence: Johannesburg, South Africa Source Of Wealth: Metal and Mining
Nicky Oppenheimer is the heir to the fortune of a family that had control of the world’s diamond operations for so many years. In 2012, he sold 40% of his stake in De Beers, to a mining firm Anglo American. In 2014, he also founded Fireblade Aviation in Johannesburg, South Africa. The aviation firm operates with three planes and two helicopters in its fleet. Oppenheimer has a Master of Arts/ Science from Oxford University.
- 2. Nassef Sawiris
Nationality: Egyptian
Net Worth (2021): USD 8.5 Billion
Age: 59
Residence: Cairo, Egypt
Source Of Wealth: Construction, Chemicals
The younger and less popular of the billionaire Sawiris brothers, Nassef Sawiris is the richest man in Egypt and the second richest in Africa. He is the chairman of OCI, one of the largest nitrogen fertilizer producers in the world, and also owns Orascom construction, which trades on the Cairo exchange and Nasdaq Dubai. He owns 5% of German sportswear outfit Adidas and also teamed up with Fortress Investment Group’s Wes Edens, to purchase Aston Villa Football Club. Sawiris is a graduate of the University of Chicago, with a Bachelor of Arts/Science degree.
- 1. Aliko Dangote
Nationality: Nigerian
Net Worth (2021): USD 12.8 Billion
Age: 68
Residence: Lagos, Nigeria
Source Of Wealth: Cement, Sugar
Aliko Dangote is the richest man in Africa; a position he has held for the past 10 years. He is the chairman of Dangote Cement, the largest producer of cement in Africa. He owns about 85% of the publicly-traded Dangote Cement, which produces 45.6 million tons of cement and is operational in 10 African countries. Apart from Dangote Cement, he also owns stakes in sugar and salt manufacturing companies. His oil refinery, which has been under construction since 2016, is set to be one of the world’s biggest refinery once completed. Dangote has a Bachelor’s degree in Arts/Science from Al-Azhar University.
