Africa’s wealthiest individuals saw an unprecedented rise in fortunes in 2025, as the total net worth of African billionaires surpassed the $100 billion threshold for the first time, Forbes has reported.
According to the latest Forbes ranking, the continent is now home to 22 billionaires whose combined wealth stands at $105 billion, a significant jump from $82.4 billion shared by 20 billionaires a year earlier.
This landmark achievement was recorded despite ongoing economic challenges across Africa, such as political uncertainty, currency fluctuations, and subdued consumer demand. Experts note that the surge aligns with strong performances in global equity markets, which gained roughly 22 per cent in the 12 months leading up to February 2025.
Nigeria’s Aliko Dangote maintained his status as Africa’s richest individual for the 14th straight year, with his net worth rising to an estimated $23.9 billion from $13.9 billion in the previous year. Forbes credited the increase mainly to the valuation of Dangote’s oil refinery near Lagos, which commenced refining operations in early 2024 after prolonged delays.
Now approaching full capacity, the refinery has positioned Nigeria to export refined petroleum products, representing a major transformation for Africa’s largest oil-producing nation.
“This is a very big relief,” Dangote told Forbes, noting that the refinery is a vital step toward allowing Africa to process its own crude oil and generate sustainable economic value.
South African luxury goods billionaire Johann Rupert ranked second, with his fortune climbing 39 per cent to $14 billion — the second-highest growth on the list. Rupert has occupied the second position consistently since 2022.
Nigerian businessman Femi Otedola also posted one of the strongest gains among returning billionaires, as his wealth exceeded $1.5 billion following a sharp rise in Geregu Power Plc shares, buoyed by increased revenues and profitability.
Two former billionaires reclaimed their spots on the list. Moroccan property magnate Anas Sefrioui returned after shares of his Addoha Group more than doubled, while South African financier Jannie Mouton rejoined the ranking after a strong rally in Capitec Bank Holdings.
Not all fortunes moved upward, however. Zimbabwean telecommunications entrepreneur Strive Masiyiwa experienced a decline of about 33 per cent in his wealth, largely attributed to currency reforms in Zimbabwe, leaving his net worth at an estimated $1.2 billion.
On a country-by-country basis, South Africa led with seven billionaires, followed by Nigeria and Egypt with four each, and Morocco with three. Algeria, Tanzania, and Zimbabwe each had one billionaire on the list.
Here is the list of Africa’s richest people in 2025`
- Aliko Dangote ($23.9B) Nigeria
- Johann Rupert & family ($14B) South Africa
- Nicky Oppenheimer & family ($10.4B) South Africa
- Nassef Sawiris ($9.6B) Egypt
- Mike Adenuga ($6.8B) Nigeria
- Abdulsamad Rabiu ($5.1B) Nigeria
- Naguib Sawiris ($5B) Egypt
- Koos Bekker ($3.4B) South Africa
- Mohamed Mansour ($3.4B) Egypt
- Patrice Motsepe ($3B) South Africa
- Issad Rebrab & family ($3B) Algeria
- Mohammed Dewji ($2.2B) Tanzania
- Michiel Le Roux ($2.2B) South Africa
- Othman Benjelloun & family ($1.6B) Morocco
- Anas Sefrioui & family ($1.6B) Morocco
- Aziz Akhannouch & family ($1.5B) Morocco
- Jannie Mouton & family ($1.5B) South Africa
- Femi Otedola ($1.5B) Nigeria
- Christoffel Wiese ($1.5B) South Africa
- Youssef Mansour ($1.4B) Egypt
- Yasseen Mansour ($1.2B) Egypt
- Strive Masiyiwa ($1.2B) Zimbabwe