How Africa’s top 10 richest billionaires built their fortunes
By Kenneth Mwenda, March 11, 2026Africa’s richest individuals have built their wealth in industries such as cement, mining, telecoms, banking, and luxury goods. According to the 2026 Forbes Africa billionaires ranking, the continent has 23 billionaires worth a combined Ksh16.4 trillion ($126.7 billion) after their wealth grew by more than Ksh2.6 trillion ($20 billion) in the past year.
Strong stock markets and stabilising currencies helped boost the value of many companies owned by these business leaders. Below is how the 10 richest African billionaires built their fortunes.
1. Aliko Dangote
Aliko Dangote built his fortune through manufacturing, especially cement production. He founded the Dangote Group in Nigeria in 1981 and expanded it into Africa’s largest cement producer. His companies also operate in sugar, flour and fertiliser production.
The value of Dangote Cement surged sharply in 2025 after the company posted record profits. Dangote has also invested heavily in energy through his massive oil refinery project near Lagos, which aims to reduce Africa’s reliance on imported refined fuel.
Dangote, worth about Ksh3.684 trillion ($28.5 billion) in 2026, has often said industrialisation is key to Africa’s growth. He once told Forbes that building the refinery would help Africa “refine its own crude oil and create wealth on the continent.”
2. Johann Rupert
Johann Rupert inherited and expanded the South African luxury goods group Richemont. The company owns famous brands such as Cartier, Montblanc and Van Cleef & Arpels.
Rupert’s wealth grew as global demand for luxury watches and jewellery remained strong, especially in Europe and Asia. His fortune stands at around Ksh2 trillion ($16.1 billion), making him the second-richest person in Africa.
Rupert rarely speaks publicly about his business strategy, but he once said that long-term thinking drives the company’s growth.
3. Abdulsamad Rabiu
Nigerian businessman Abdulsamad Rabiu built his wealth through BUA Group, a conglomerate involved in cement, sugar refining and food processing.
His fortune grew rapidly after shares in BUA Cement rose sharply on the Nigerian Stock Exchange. The company expanded production capacity and benefited from strong demand for construction materials.
Rabiu, worth about Ksh1.4 trillion ($11.2 billion), started trading commodities in the 1980s before building large industrial plants. He has said that African entrepreneurs must focus on manufacturing to reduce imports.
4. Nicky Oppenheimer
Nicky Oppenheimer made his fortune through the diamond industry. His family controlled the De Beers mining company for decades before selling their stake to mining giant Anglo American in 2012.
After the sale, Oppenheimer invested heavily in conservation projects and private equity through his investment firm Tana Africa Capital.
The South African businessman and his family are worth about Ksh1.37 trillion ($10.6 billion) today.
5. Nassef Sawiris
Egyptian billionaire Nassef Sawiris built his wealth through construction and engineering. He runs OCI, a global producer of fertilisers and chemicals.
Sawiris has also invested widely outside Africa. He owns a stake in the English Premier League club Aston Villa and holds shares in global sportswear brand Adidas.
With an estimated net worth of Ksh1.24 trillion ($9.6 billion), he is one of the most internationally active African investors.
6. Mike Adenuga
Mike Adenuga earned his fortune in telecommunications and oil. He founded Globacom, one of Nigeria’s largest mobile network operators.
Before entering telecoms, Adenuga made billions through oil exploration and banking investments. Globacom later expanded into several West African countries, helping grow his wealth.
The Nigerian entrepreneur is worth about Ksh840 billion ($6.5 billion).
7. Naguib Sawiris
Naguib Sawiris made his fortune in telecoms through Orascom Telecom. The company built mobile networks across the Middle East, Africa and Asia.
Sawiris later sold major stakes in the telecom business and shifted his investments into mining, media and technology.
He is currently worth about Ksh724 billion ($5.6 billion) and remains an influential investor in emerging markets.
8. Patrice Motsepe
South African businessman Patrice Motsepe became the country’s first Black billionaire through mining. He founded African Rainbow Minerals in the 1990s. Motsepe is also a football administrator who serves as president of the Confederation of African Football (CAF).
Motsepe built the company by acquiring struggling gold mines and making them profitable. He later expanded into platinum, coal and iron ore.
Today his wealth is estimated at around Ksh556 billion ($4.3 billion).
9. Mohamed Mansour
Mohamed Mansour leads the Egyptian conglomerate Mansour Group. The company distributes global brands such as Caterpillar equipment and General Motors vehicles across the Middle East and Africa.
The group also invests in logistics, retail and technology companies worldwide.
Mansour’s net worth is estimated at about Ksh517 billion ($4 billion).
10. Michiel Le Roux
Michiel Le Roux made his fortune in banking after founding Capitec Bank in South Africa in 2001.
The bank focused on simple, low-cost services for ordinary customers. Its rapid growth pushed its share price higher and helped transform it into one of South Africa’s largest lenders.
Le Roux is now worth around Ksh491 billion ($3.8 billion) as Capitec continues to expand its customer base.