The combined wealth of Africa’s billionaires has surged past $126 billion as strong stock market performance and stabilising currencies across the continent boosted fortunes.
According to the latest rankings by Forbes, the continent’s 23 billionaires added a combined $20.3 billion to their fortunes, bringing their total wealth to $126.7 billion, representing a 21 per cent increase from 2025.
Nigerian industrialist Aliko Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion, up by $4.6 billion from the previous year. The growth in his fortune was largely driven by a sharp rise in the share price of his flagship company, Dangote Cement, which surged nearly 69 per cent since March last year.
The cement giant also doubled its profits in 2025, reaching a record ₦1 trillion. Dangote has also indicated plans to list his oil refinery on the stock market later this year, while his company recently signed a $400 million deal with a Chinese machinery firm to expand refinery capacity by 2029.
The biggest wealth increase on the list was recorded by Nigerian billionaire Abdulsamad Rabiu, whose net worth jumped by 120 per cent, rising by $6.1 billion to $11.2 billion. The surge was fuelled by the strong performance of BUA Cement, whose shares rose by 135 per cent, outperforming the rally on the Nigerian Exchange.
Rabiu now ranks as Africa’s third richest person, behind South African luxury goods tycoon Johann Rupert, whose net worth is estimated at $16.1 billion.
Another major gainer is Michiel Le Roux, founder of Capitec Bank, whose wealth climbed to $3.8 billion as the bank’s share price rose sharply on the Johannesburg Stock Exchange.
Meanwhile, Egyptian investor Nassef Sawiris, worth $9.6 billion, was the only billionaire whose wealth remained largely unchanged. Sawiris holds a stake in English Premier League club Aston Villa and owns about 6 per cent of sportswear giant Adidas.
However, not all fortunes increased. Moroccan real estate magnate Anas Sefrioui lost about $300 million after shares of his company, Group Addoha, dropped more than 30 per cent. Nigerian businessman Femi Otedola also saw his wealth decline by $200 million after selling a significant stake in Geregu Power.
Both billionaires are now tied as the least wealthy on the list, with fortunes estimated at $1.3 billion each.
Of the 23 billionaires on the list, 14 are self-made, having built their wealth rather than inheriting it. There are currently no female billionaires in Africa, and only one billionaire under the age of 60 — Tanzania’s Mohammed Dewji.
By country, South Africa leads with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.
Here are 23 richest people in Africa 2026
Aliko Dangote (Manufacturing) — $28.5B
Johann Rupert & family (Fashion & Retail) — $16.1B
Abdulsamad Rabiu (Diversified) — $11.2B
Nicky Oppenheimer & family (Metals & Mining) — $10.6B
Nassef Sawiris (Construction & Engineering) — $9.6B
Mike Adenuga (Diversified) — $6.5B
Naguib Sawiris (Telecom) — $5.6B
Patrice Motsepe (Metals & Mining) — $4.3B
Mohamed Mansour (Diversified) — $4B
Michiel Le Roux (Finance & Investments) — $3.8B
Koos Bekker (Media & Entertainment) — $3.6B
Issad Rebrab & family (Food & Beverage) — $3.6B
Jannie Mouton & family (Finance & Investments) — $2.7B
Mohammed Dewji (Diversified) — $2.1B
Strive Masiyiwa (Telecom) — $2.1B
Christoffel Wiese (Fashion & Retail) — $1.9B
Youssef Mansour (Diversified) — $1.8B
Othman Benjelloun & family (Finance & Investments) — $1.7B
Aziz Akhannouch & family (Diversified) — $1.6B
Yasseen Mansour (Diversified) — $1.4B
Samih Sawiris (Service) — $1.4B
Femi Otedola (Energy) — $1.3B
Anas Sefrioui & family (Real Estate) — $1.3B