Africa’s richest individuals whom we can call business magnates, grew their wealth by a third to approximately $126.7 billion by March 2026, supported by stock market buoyancy, increased commodity prices and industrial investment growth across the continent.
Nigeria’s business magnate Aliko Dangote remains the richest man in Africa, according to the latest billionaires report released by Forbes in March 2026, holding his position from the last 15 consecutive years.
The continent has a total of 23 billionaires, their wealth up more than a third to $126.7 billion from 2025.
This is the list of Africa’s top 10 richest men in 2026 according to the Forbes list and the latest figures available.
Aliko Dangote (Nigeria) – $28.5 billion
Johann Rupert (South Africa) – $16.1 billion
Abdulsamad Rabiu (Nigeria) – $11.2 billion
Nicky Oppenheimer (South Africa) – roughly between $9 and $13 billion
Nassef Sawiris (Egypt) – roughly between $9 and $10 billion
Mike Adenuga (Nigeria) – roughly between $6 and $7 billion
Naguib Sawiris (Egypt) – roughly between $5 and $7 billion
Patrice Motsepe (South Africa) – roughly between $3 and $7 billion
Koos Bekker (South Africa) – roughly between $3 and $5 billion
Mohamed Mansour (Egypt) – roughly between $3 and $5 billion
When looking at where these individuals get their wealth, a recurring theme of high-value sectors is apparent. Cement, oil and gas, mining, telecom and industrial manufacturing top the list, with individuals like Aliko Dangote and Abdulsamad Rabiu making billions through their cement and industrial operations while Mike Adenuga gained his millions through telecommunications. Nicky Oppenheimer and Johann Rupert gain fortunes through their interests in mining and luxury goods respectively while agriculture, while often less reported, also contributes to wealth generation on a large industrial scale when its linked to manufacturing, exports and food supplies, suggesting that this level of wealth is usually the result of owning dominant industries in which countries depend on.
Dangote has a sharp rise in wealth over the last year primarily as a result of the boost in stock prices of his Dangote Cement and continuous expansion of his refinery project in Nigeria.
Abdulsamad Rabiu is a massive gainer, having recorded the highest net worth increment as his wealth doubled over the year, aided by strong performance from his BUA Cement.
South Africa, Egypt and Nigeria all continue to hold the top positions in the list, highlighting the strong industrial and capital markets present.
