Aliko Dangote, a Nigerian business magnate has retained his position as Africa’s richest man, with a net worth of $13.9 billion (N5.7trillion), according to the 2022 edition of the Forbes’ Top 10 Africa’s Billionaires List. This was revealed in a post on Forbes verified Twitter account (@Forbes)
The report shows that Dangote has maintained the position of Africa’s richest person for 11 years in a row, worth an estimated $13.9 billion, up from $12.1 billion in 2021.
According to the magazine, this followed after a 30 percent increase in the stock price of ‘Dangote Cement’, his most valuable asset.
Analysts also disclosed that the surge in housing developments in Nigeria and growth in government infrastructure spending drove the higher demand for the product in the first nine months of 2021.
The report added that Africa’s billionaires were richer than they had been in years, despite the global pandemic.
Johann Rupert of South Africa, jumped to the number two spot on the list, from his number four spot last year.
However, the report also shows that all of the continent’s billionaires were men, the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.
Forbes noted that the list tracked the wealth of African billionaires who resided in Africa or had their primary business there, thus excluding Sudanese-born billionaire, Mo Ibrahim, who is a U.K. citizen.
