Africa’s wealthiest individuals experienced an unprecedented rise in fortunes in 2025, as the total net worth of the continent’s billionaires surpassed $100 billion for the first time, according to Forbes.
The latest Forbes ranking indicates that Africa now boasts 22 billionaires whose combined wealth stands at $105 billion, a sharp increase from the $82.4 billion shared by 20 billionaires in the previous year.
This landmark achievement was recorded despite ongoing economic challenges across Africa, including political instability, fluctuating currencies and weak consumer demand. Analysts attribute the growth largely to strong global stock market performance, which climbed by about 22 per cent in the 12 months leading up to February 2025.
Nigeria’s Aliko Dangote maintained his position as Africa’s richest individual for the 14th straight year, with his net worth rising to an estimated $23.9 billion from $13.9 billion a year earlier. Forbes linked the significant jump mainly to the valuation of Dangote’s oil refinery near Lagos, which commenced refining operations in early 2024 after several years of delays.
The refinery, now approaching full operational capacity, has allowed Nigeria to begin exporting refined petroleum products, marking a major turning point for Africa’s largest crude oil producer.
“This is a very big relief,” Dangote told Forbes, describing the refinery as a vital step towards enabling Africa to refine its own crude oil and generate sustainable economic value.
South African luxury goods billionaire Johann Rupert ranked second on the list with a net worth of $14 billion, reflecting a 39 per cent increase, the second-largest gain recorded. Rupert has held the second position consistently since 2022.
Another Nigerian, Femi Otedola, posted one of the strongest performances among returning billionaires, as his wealth climbed above $1.5 billion following a surge in the share price of Geregu Power Plc, driven by increased revenue and profitability.
Two former billionaires also made a return to the ranking. Moroccan property magnate Anas Sefrioui re-entered the list after shares of his company, Addoha Group, more than doubled, while South African investment veteran Jannie Mouton returned following a strong rally in Capitec Bank Holdings.
However, gains were not universal. Zimbabwean telecommunications entrepreneur Strive Masiyiwa saw his fortune fall by approximately 33 per cent, largely as a result of currency reforms in Zimbabwe, leaving his net worth at an estimated $1.2 billion.
On a country-by-country basis, South Africa recorded the highest number of billionaires with seven individuals, followed by Nigeria and Egypt with four each, and Morocco with three. Algeria, Tanzania and Zimbabwe each had one billionaire on the list.
Below is the full list of Africa’s richest people in 2025:
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Aliko Dangote ($23.9B) Nigeria
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Johann Rupert & family ($14B) South Africa
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Nicky Oppenheimer & family ($10.4B) South Africa
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Nassef Sawiris ($9.6B) Egypt
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Mike Adenuga ($6.8B) Nigeria
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Abdulsamad Rabiu ($5.1B) Nigeria
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Naguib Sawiris ($5B) Egypt
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Koos Bekker ($3.4B) South Africa
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Mohamed Mansour ($3.4B) Egypt
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Patrice Motsepe ($3B) South Africa
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Issad Rebrab & family ($3B) Algeria
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Mohammed Dewji ($2.2B) Tanzania
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Michiel Le Roux ($2.2B) South Africa
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Othman Benjelloun & family ($1.6B) Morocco
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Anas Sefrioui & family ($1.6B) Morocco
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Aziz Akhannouch & family ($1.5B) Morocco
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Jannie Mouton & family ($1.5B) South Africa
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Femi Otedola ($1.5B) Nigeria
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Christoffel Wiese ($1.5B) South Africa
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Youssef Mansour ($1.4B) Egypt
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Yasseen Mansour ($1.2B) Egypt
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Strive Masiyiwa ($1.2B) Zimbabwe
