In June 2024, the African nations boasting the most billionaires.

Africa’s ascent as a focal point for economic growth and innovation is increasingly apparent on the global stage, shaping the continent’s wealth landscape. Forbes’ real-time billionaires list for 2024 reflects notable shifts among Africa’s wealthiest individuals.

Aliko Dangote, recognized for his expansive holdings in cement and sugar, has regained his status as Africa’s wealthiest person, boasting a net worth of $12.9 billion. Following closely is South Africa’s Johann Rupert and family, amassing a fortune of $12.2 billion through their luxury goods empire.

Understanding the dynamics behind these fortunes provides valuable insights into the economic trends shaping Africa today. The strategic investments and business acumen of these individuals not only bolster their personal wealth but also play a pivotal role in economic development and job creation across the continent.

Methodology: This list is curated utilizing Forbes Real-time Billionaires rankings, tracking the daily fluctuations of the world’s richest individuals. The following explores African countries hosting the highest number of billionaires, shedding light on the sectors driving their wealth.

Tanzania: Number of billionaires: 1 Mohammed Dewji, with a diversified wealth source, holds a net worth of $1.8 billion, ranking as the 1851st richest person globally.

Zimbabwe: Number of billionaires: 1 Strive Masiyiwa, with a net worth of $1.8 billion, derives his wealth from the telecom sector, ranking as the 1807th richest person globally.

Algeria: Number of billionaires: 1 Issad Rebrab and family, with a net worth of $2.5 billion, founded Cevital, Algeria’s largest privately held company, primarily in the sugar industry.

Eswatini (Swaziland): Number of billionaires: 1 Nathan Kitsch’s wealth, totaling $6.8 billion, stems from retail and real estate, predominantly through Jethro Holdings, which owns a restaurant supply store.

Morocco: Number of billionaires: 2 Aziz Akhannouch and family, with a net worth of $1.7 billion, largely derive wealth from petroleum, gas, and chemicals, while Othman Benjelloun and family’s $1.5 billion fortune is rooted in banking and insurance.

Nigeria: Number of billionaires: 4 Aliko Dangote, Africa’s wealthiest individual, leads with a net worth of $12.9 billion, followed by Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola, whose wealth spans sectors including telecom, oil, cement, sugar, energy, and utilities.

Egypt: Number of billionaires: 5 Nassef Sawiris, Egypt’s richest person, holds a $9.2 billion fortune, primarily from construction and investments. Naguib Sawiris, his brother, amassed wealth in telecom, with a net worth of $3.8 billion. Mohamed Mansour, Youssef Mansour, and Yassen Mansour, collectively known as the Mansour brothers, derive their $3.2 billion, $1.3 billion, and $1.2 billion wealth from diversified sources, including motors dealerships.

South Africa: Number of billionaires: 6 Johann Rupert and family, with a $12.2 billion fortune, excel in luxury goods, followed by Nicky Oppenheimer and family, Koos Bekker, Patrice Motsepe, Michiel Le Roux, and Christoffel Wiese, whose wealth originates from diamonds, e-commerce, mining, banking, and retail, respectively.