Africa rich list: No Kenyans this time but Dangote still king

From left: Nigerian cement tycoon Aliko Dangote, Angola's Isabel dos Santos and Zimbabwe's Strive Masiyiwa. PHOTOS | FILE
From left: Nigerian cement tycoon Aliko Dangote, Angola's Isabel dos Santos and Zimbabwe's Strive Masiyiwa. PHOTOS | FILE 

Nigerian cement tycoon Aliko Dangote - who is now opening new factories across East, West and Central Africa - is among only eight Africans who made it to this year’s Forbes Magazine wealth list.

The announcement ranked Mr Dangote, Saudi-Ethiopian businessman Mohammed Al-Amoudi, Nigerian Mike Adenuga, Angolan Isabel dos Santos and South African Patrice Motsepe as the richest individuals on the continent.

Along with Zimbabwean billionaire Strive Masiyiwa - whose Pay TV company Kwese is battling MultiChoice for sports viewership eyeballs in Kenya - Nigeria's Folorunsho Alakija and good governance proponent Sudanese-British national Mohamed Ibrahim, the eight are the only Africans who made it to the 2018 list of the world's top 2,043 billionaires.

While no Kenyans made it to this year's rich list, Forbes Africa has previously ranked Bidco Oil’s Bhimji Depar Shah - father of former CEO Vimal Shah - and Sameer Group’s Naushad Merali in previous editions.

Vimal had been named Kenya's richest man in 2013, but disputed the claim as untrue.

“That is completely useless information...There is not a grain of truth in it and it is not worth a single penny from anyone,” he said at the time, adding that he was not consulted before the list was prepared.

He was then replaced on the list by his father.

President Uhuru Kenyatta was previously listed in the magazine's inaugural report as Africa's 26th richest person due to the Kenyatta family's vast wealth that includes prime real estate and businesses. He was Kenya's Deputy Prime Minister at the time with Forbes estimating his net worth at $500 million.

Vast businesses

Mr Dangote, with vast interests in cement, sugar and flour milling across Africa, is reportedly worth Sh1.41 trillion ($14.1 billion) while Mr Adenuga’s interests in oil and telecoms placed his worth at Sh530 billion ($5.3 billion).

Mr Al-Almoudi, known for his active involvement in multi-billion dollar construction projects, is said to be worth Sh840 billion( $8.4 billion) while Mr Masiyiwa with interests in telecoms and media enjoys access to a Sh189 billion ($1.39 billion) fortune.

Daughter to former Angolan ruler Eduardo dos Santos, Ms Dos Santos served as the chairperson of the State-owned oil company until recently, retains her title of Africa’s richest woman with an estimated net worth Sh260 billion ($2.6 billion).

Ms Alakija, who once worked as a secretary in a Nigerian bank in the 70s before flying to England to study fashion design, is Africa's second richest woman with a net worth of about Sh170 billion($1.7 billion).

Founder and CEO of Johannesburg Stock Exchange-listed mining firm African Rainbow Minerals, Mr Patrice Motsepe, is reportedly worth Sh250 billion. He also owns Mamelodi Sundowns Soccer club.

Mo Ibrahim, with vast interests in the equity investments space, is reportedly worth 118 billion.

He founded telecoms giant Celtel, now Bharti Airtel.