Forbes ranks Africa’s wealthiest business people for 2018

Forbes ranks Africa’s wealthiest business people for 2018

An American business magazine, Forbes, has released the latest list of billionaires from Africa. The list which was released on March 1, 2018 reveals 23 rich businessmen on the continent.

The list is predominantly dominated by South Africans, Egyptians and Nigerians. However, Nigerian businessman, Aliko Dangote sits on atop.

Forbes ranks Africa’s wealthiest business people for 2018

Africa's richest man, Aliko Dangote

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He is the founder and chairman of Dangote Cement, the continent's largest cement producer.

He owns nearly 88% of publicly-traded Dangote Cement through a holding company.

Dangote Cement produces 44 million metric tons annually and plans to increase its output 33% by 2020.

Dangote also owns stakes in publicly-traded salt, sugar and flour manufacturing companies. Dangote is worth $12.2 B.

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There are only two women on the list - Angola's Isabel dos Santos with $2.7 billion and Folorunsho Alakija worth $1.6 B.

The list of Africa's billionaires

#1 Aliko Dangote $12.2 B 60 cement, sugar, flour

#2 Nicky Oppenheimer $7.7 B 72 diamonds

#3 Johann Rupert $7.2 B 67 luxury goods

#4 Nassef Sawiris $6.8 B 57 construction, chemicals

#5 Mike Adenuga $5.3 B 64 telecom, oil

#6 Issad Rebrab $4 B 74 food

#6 Naguib Sawiris $4 B 63 telecom

#8 Koos Bekker $2.8 B 65 media, investments

#9 Isabel dos Santos $2.7 B 44 investments

#9 Mohamed Mansour $2.7 B 70 diversified

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#11 Patrice Motsepe $2.4 B 56 mining

#12 Aziz Akhannouch $2.2 B 57 petroleum, diversified

#13 Yasseen Mansour $1.9 B 56 diversified

#14 Strive Masiyiwa $1.7 B 57 telecom

#15 Folorunsho Alakija $1.6 B 67 oil

#15 Othman Benjelloun $1.6 B 85 banking, insurance

#17 Mohammed Dewji $1.5 B 42 diversified

#18 Youssef Mansour $1.4 B 72 diversified

#19 Michiel Le Roux $1.2 B 68 banking

#19 Stephen Saad $1.2 B 53 pharmaceuticals

#21 Desmond Sacco $1.1 B 75 mining

#21 Onsi Sawiris $1.1 B 88 construction, telecom

#21 Christoffel Wiese $1.1 B 76

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