Africa’s wealthiest individuals recorded a sharp rise in their fortunes in 2026 as stock markets strengthened and several African currencies showed signs of stability.
Business Insider Africa reports that Africa’s billionaire club continues to expand in value, with the continent’s richest business figures seeing notable gains in their net worth.
The publication stated, “Business Insider Africa presents the top 10 richest people in Africa in 2026. The list is courtesy of Forbes.”
According to the latest Forbes ranking, the 23 African billionaires now control a combined wealth of $126.7 billion, which represents a 21 percent increase compared to 2025.
Dangote Retains Top Position
Nigerian industrialist Aliko Dangote maintained his position as Africa’s richest person. His net worth rose to $28.5 billion after gaining $4.6 billion within the past year.
The growth in his wealth followed a major rally in Dangote Cement shares, which climbed by nearly 69 percent.
Dangote leads the Dangote Group, which operates in sectors such as cement production, sugar refining, fertilizer, and salt manufacturing across several African countries. His flagship Dangote Refinery is also expanding operations after securing a $400 million machinery deal from China, while the company’s profit reportedly doubled to ₦1 trillion in 2025.
Other Leading Billionaires
South African luxury magnate Johann Rupert ranked second with an estimated wealth of $16.1 billion. He controls Richemont, the global luxury goods company that owns brands such as Cartier, Montblanc, and Van Cleef & Arpels.
Nigerian businessman Abdulsamad Rabiu placed third with a fortune estimated at $11.2 billion. His wealth recorded the largest growth on the continent this year, increasing by 120 percent, which translates to $6.1 billion more than his previous valuation. Rabiu founded the BUA Group, which operates in cement production, sugar refining, agriculture, and real estate.
In fourth place is Nicky Oppenheimer with $10.6 billion. His wealth is linked to De Beers, the global diamond mining company previously controlled by his family. Oppenheimer now focuses on private equity investments and conservation initiatives across Southern Africa.
Egyptian businessman Nassef Sawiris ranked fifth with $9.6 billion, supported by his leadership in OCI N.V., a global fertilizer and chemicals firm, as well as his stake in Orascom Construction.
Telecommunications, Mining And Finance Figures
Nigeria’s Mike Adenuga occupies the sixth position with a net worth estimated at $6.5 billion. He built his fortune through Globacom, one of Nigeria’s largest telecommunications companies, and Conoil Producing, an oil exploration firm.
Egyptian entrepreneur Naguib Sawiris follows with $5.6 billion. He initially built his wealth through Orascom Telecom, which expanded mobile networks across Africa, Asia, and the Middle East. He has since diversified into media, tourism, and venture capital.
South African mining investor Patrice Motsepe ranks eighth with $4.3 billion through African Rainbow Minerals, which mines gold, platinum, and iron ore. Motsepe also serves as the President of the Confederation of African Football (CAF).
Egyptian billionaire Mohamed Mansour holds the ninth position with $4 billion. His wealth stems from the Mansour Group, which operates in automotive distribution, consumer goods, and logistics across Africa and the Middle East.
Rounding off the list is Michiel Le Roux, a South African financier with $3.8 billion. He founded Capitec Bank, which has grown into one of South Africa’s leading retail banks known for its low-cost banking model.
The ranking highlights the continued expansion of wealth among Africa’s top entrepreneurs as key sectors such as manufacturing, telecommunications, mining, and finance remain major drivers of economic growth across the continent.
