In an update on March 9, 2026, Forbes released its annual ranking of Africa’s Richest People, showing a remarkable growth in the continent’s billionaire class.
The continent’s three-comma club members, who crossed $100 billion in combined wealth last year for the first time, are now wealthier than ever.
They added a total of $20.3 billion to their fortunes as major equity markets rally across the continent and regional currencies stabilize.
Altogether, these 23 dealmakers and moguls are now worth $126.7 billion, marking a 21% increase from 2025.
Aliko Dangote remains the wealthiest, with a net worth of $28.5 billion.
This year, his wealth increased by $4.6 billion as shares of his NGX-listed cement company surged nearly 69% since last March. Dangote Cement doubled its profits in 2025 to a record one trillion Naira.
The Nigerian entrepreneur, planning to take his oil refinery public later this year, recently announced a $400 million deal with a Chinese machinery firm to speed up plans to double the refinery’s capacity by 2029.
Abdulsamad Rabiu was the biggest gainer, with his net worth rising by 120% that is $6.1 billion to $11.2 billion.
He is now the third richest in Africa, up from sixth place last year, just behind luxury goods mogul Johann Rupert, valued at $16.1 billion.
Shares of Rabiu’s main asset, BUA Cement, jumped 135%, outperforming the Nigerian Stock Exchange (NGX), which has risen 81% over the past year, driven by record profits reported by listed companies and government mandates for Pension Fund Administrators to increase their equity holdings.
Capitec Bank founder Michiel Le Roux ($3.8 billion) also saw significant gains, with shares of the South African bank rising 57%, beating the Johannesburg exchange’s 45% increase, amid rising gold and platinum prices.
The only African billionaire to remain even this year was Nassef Sawiris.
The Egyptian investor, valued at approximately $9.6 billion, owns a stake in the English Premier League club Aston Villa.
Here’s the top 10 from Forbes’ 2026 Africa’s Billionaires list net worths as of early 2026 valuations:
- Aliko Dangote*l (Nigeria) — $28.5 billion — Manufacturing/Diversified (cement, sugar, oil refining)
- Johann Rupert & family (South Africa) — $16.1 billion — Fashion & Retail (luxury goods)
- Abdulsamad Rabiu (Nigeria) — $11.2 billion — Diversified (cement, sugar)
- Nicky Oppenheimer & family (South Africa) — $10.6 billion — Metals & Mining (diamonds)
- Nassef Sawiris (Egypt) — $9.6 billion — Construction & Engineering (also has stakes in Aston Villa and Adidas)
- Mike Adenuga (Nigeria) — $6.5 billion — Diversified (telecom via Globacom, oil)
- Naguib Sawiris (Egypt) — $5.6 billion — Telecom
- Patrice Motsepe (South Africa) — $4.3 billion — Metals & Mining
- Mohamed Mansour (Egypt) — $4 billion — Diversified
- Michiel Le Roux (South Africa) — $3.8 billion — Finance & Investments (Capitec Bank; shares up 57%)
South Africa leads with seven billionaires, followed by Egypt (five), Nigeria (four), and Morocco (three). Notably, 61% of the list is self-made, but no women made the cut this year, and most billionaires are over 60 with Tanzania’s billionaire Mohammed Dewji age 50, who h makes him the youngest.
While the overall picture is one of prosperity, some fortunes dipped—Nigeria’s Femi Otedola and Morocco’s Anas Sefrioui both sit at $1.3 billion after losses tied to specific stakes.
For the complete list, detailed profiles, please visit the official Forbes page: https://www.forbes.com/lists/africa-billionaires/.
Administrator and Writer
