Kampala, Uganda | THE INDEPENDENT | Buoyed by rising stock markets and commodity prices, Africa’s billionaires are collectively wealthier than a year ago.
The 23 billionaires that Forbes found in Africa – up from 21 billionaires last year — are worth a combined $75.4 billion, compared to $70 billion in January 2017.
The richest African, for the seventh year in a row, is Nigerian cement and commodities tycoon Aliko Dangote, with a net worth that Forbes pegs at $12.2 billion.
That’s up $100 million from a year ago. Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertilizer production company and a large oil refinery.
The list has 8 billionaires from South Africa, 6 from Egypt, 3 from Nigeria, 2 from Morocco and one list member each from Algeria, Angola, Tanzania and Zimbabwe.