It is indisputable that Africa is a continent with many untapped resources. A majority of the 54 nations in the continent are categorised as third-world or developing. Despite this, each country has affluent people, some of whom are at the helm of leadership. The richest presidents in Africa are wealthy because their salaries are high and they come from affluent backgrounds.
Many people daydream about what life would be like if they were powerful and wealthy. For the richest presidents in Africa, this is a reality. They have political power and resources that can sustain generations for years. How did they become rich, and how much are they worth?
Who are the richest presidents in Africa?
Most African political leaders are wealthy, and some are richer than others. Check out the list of the wealthiest presidents below to discover who they are and their sources of wealth.
15. Yoweri Museveni (Uganda) - $50 million
- Sources: Presidential salary, farming, and other business investments
Yoweri Kaguta Tibuhaburwa Museveni has been Uganda's head of state since 1986. Over the years, he has accumulated a lot of wealth from his salary and other ventures.
Museveni has invested in various sectors. He is an avid farmer and has mainly invested in livestock farming. He owns large herds of cattle that produce thousands of litres of milk sold to different industrial milk processors. He also has businesses in the energy, food processing, and construction industries.
14. Muhammadu Buhari (Nigeria) - $80 million
- Sources: Military career, political career, and business investments
Muhammadu Buhari was elected president of Nigeria in 2015. The former military general has an estimated net worth of $80 million. He has had a long-running career in the Nigerian military. He climbed the ladder and was the military head of state from 1983 to 1985, earning him a lot of money.
He owns multiple businesses in Nigeria and overseas, including in the oil sector. His family members run the businesses to allow him space and time to lead the nation. He has a net worth of $80 million.
13. King Mswati III (Swaziland) - $100 million
- Sources: Inheritance and business investments
Mswati III is the reigning King of Swaziland who has an estimated net worth of $100 million dollars. He became the youngest ruling monarch after being crowned the king at 18. A significant portion of his wealth is inherited from his family.
In addition to inheritance, he is also paid for conducting the king's roles. He also has a stake in various businesses, which rake in a significant amount of money each year.
12. Isaias Afwerki (Eritrea) - $100 million
- Sources: Political career and business investments
Isaias Afwerki has been Eritrea's head of state since the country gained independence in 1993. He has been on the political scene for decades and was part of his country's freedom fighters.
Besides making money from his work as the president, he also earns from several business investments. He has a net worth of $100 million.
11. Alassane Ouattara (Ivory Coast) - 185 million
- Sources: Business investments, employment, and political career
Alassane Ouattara became the fifth president of Ivory Coast in 2010. Before then, he served as the country's prime minister. In the late 1960s and early 1970s, he was employed by the International Monetary Fund in Washington DC. He has a net worth of $185 million.
10. Abdel Fattah Khalil el-Sisi (Egypt) - $185 million
- Sources: Military career, presidential salary, and business investments
He resigned from the military in 2014 to run for the position of president. Besides earning from the military and his current position, he owns several investment firms operating in North Africa and overseas.
9. Paul Biya (Cameroon) - $200 million
- Sources: Political career and business investments
Paul Barthélemy Biya'a bi Mvondo has headed Cameroon since 6th November 1982 and has a net worth of $200 million. During his almost 40-year-old tenure, he has accumulated plenty of wealth. However, there are allegations that he acquired part of it through unscrupulous means.
Cameroon's head of state and his family own multiple businesses. They have companies in the timber, oil, banking, transport, and construction sectors.
8. Nana Akufo-Addo (Ghana) - $250 million
- Sources: Law career, political career, and business investments
Nana Akufo-Addo, the fifth President of Ghana, has an estimated net worth of $250 million. He became the country's head in early January 2017 and was re-elected for his second term in 2020.
After completing his education, he worked at the Paris office of the American law firm Coudert Brothers for a few years. Later, he relocated to his home country and founded a law company called Akufo-Addo, Prempeh & Co. He also became a political activist. Besides his law and political career, this president also owns multiple businesses. He has a net worth of $250 million.
7. Patrice Talon (Benin) - $400 million
- Sources: Businesses in the key cotton sector and running Cotonou's port
In 2015, Forbes ranked Patrice Talon as the as 15th wealthiest sub-Saharan African with an estimated net worth of $400 million. At the time, he was not Benin's head of state. Talon assumed his current position on 6th April 2016.
He made his wealth from running multiple businesses, especially in the cotton sector. He also raked a significant amount of money from running Cotonou's port.
6. Cyril Ramaphosa (South Africa) - $450 million
- Earnings: $198,742 (R2.99 million) monthly salary
- Sources: Political career, entrepreneurship, and investments
South Africa's sitting president, Cyril Ramaphosa, has a net worth of $450 million. He took over the country's leadership in 2018 after Jacob Zuma's resignation. He is a former anti-apartheid activist, trade union leader, and entrepreneur.
In 2014, he stepped back from his business pursuits to focus on his political career. Even so, he still makes a significant amount of money every year from his business investments. In May 2015, he resigned as the chairman of Shanduka Group, an investment firm he founded. Later, he sold his stake in the firm.
5. Paul Kagame (Rwanda) - $500 million
- Sources: Businesses and political career
Paul Kagame, the president of Rwanda, has an estimated net worth of $500 million. He assumed his current political position in March 2000 and is the nation's fourth president. Before his current role, he was the vice president and the Minister of Defence.
Besides earning an impressive monthly salary, Kagame has made investments in almost all sectors of his country's economy. His family owns and runs Crystal Ventures, a company with assets worth over $500 million.
4. Uhuru Muigai Kenyatta (Kenya) - $500 million
- Monthly salary: $16,500
- Sources: Political career, multiple businesses, and inheritance
Is Uhuru Kenyatta Africa's richest president? While he is not the richest in Africa, he is arguably the wealthiest East African head of state with an estimated net worth of $500 million. Kenyatta is the son of Kenya's first president, Jomo Kenyatta.
The Kenyatta family is known for owning and running multiple businesses, including Brookside Dairies, NCBA Group PLC, Heritage Group of Hotels, Peponi School, Mediamax Group, and Timsales Holdings.
3. Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) - $600 million
- Sources: Presidential salary, business investments, and alleged government looting
Teodoro Obiang Nguema Mbasogo is one of the wealthiest political leaders with an estimated net worth of $600 million. He became Equatorial Guinea's head of state in 1979 and is one of the longest-serving African presidents.
This leader has been accused of massive corruption and abuse of power. He and his family own properties and supercars in the country and overseas. He also earns a significant amount monthly as the head of the country and runs several businesses in different countries.
Who is the richest leader in Africa?
2. Ali Bongo Ondimba (Gabon) - $1 billion
- Sources: Inheritance, presidential salary, and business investments
Ali Bongo Ondimba ranks high on the list of the richest African presidents in 2022. He became the president of Gabon in 2009 and has an estimated net worth of $1 billion. He assumed the presidential position following the demise of his father.
During his father's tenure, he held senior government positions, which earned him a lot of money. Besides, he was born into a wealthy family.
1. King Mohammed VI (Morocco) - $5.7 billion
- Sources: Inheritance, presidential salary, and businesses
Who is the richest president in Africa? King Mohammed VI of Morocco scoops this position with an estimated net worth of$5.7 billion. King Mohammed VI was born on 21st August 1963 in Rabat, Morocco. He is the current leader of Morocco, a position he took after the passing of his father in 1999.
Mohammed VI is a member of the Alaouite dynasty, the present Moroccan royal family. The richest president in Africa makes his wealth from his presidential salary and vast businesses. He also inherited plenty of wealth from his family.
His business investments include banking, mining, tourism, real estate, telecommunications, and cement manufacturing. His family owns Société Nationale d'Investissement (SNI), a large food company with many important businesses in the North African country.
African heads of state are wealthy. The above list of the richest presidents in Africa shows that many of them have gained their wealth from their illustrious careers, business investments, and inheritance.
Yen.com.gh recently published a list of the richest politicians in Ghana in 2022. Ghana is categorised as a low-income economy. Despite this, it is still considered one of the fastest-growing economies in Africa.
The country has affluent people, some of whom are political leaders. Some have amassed wealth from businesses, while others have inherited part of their riches. They include Dr Kwame Addo Kufuor, John Dramani Mahama, Kwabena Duffuor, and Haruna Iddrisu.