Dangote retains the Africa's richest man title for the eighth consecutive time

Cornelia Mascio
Gennaio 12, 2019

Tagged: Fewer Billionaires, Poorer Billionaires On African Continent In 2019, Forbes said the number of African billionaires fell to 20, down from 23 past year, having been buffeted by plunging stock prices and weaker currencies.

Like Dangote, she also had a decline in her net worth.

Anthony Chiejina, Group Head, Corporate Communications, Dangote Industry, said that the industrialist emerged as Forbes' the continent's richest man for the first time in March 2011, with a net worth of $13.8 billion. But he retained his position as Africa's richest man for the eightieth consecutive time.

Explaining the increase in wealth of numerous public figures, Forbes said, "Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago".

This is in spite of almost $2 billion dip in his net worth primarily due to a roughly 20% drop in the stock price of his most valuable asset - Dangote Cement.

His estimated $10.3 billion net worth, however, is almost $2 billion less than a year ago, primarily due to a roughly 20% drop in the stock price of Dangote Cement, his most valuable asset. "All but four members on the list have smaller fortunes than a year ago".

But Globacom Chairman Mike Adenuga Jnr, with interests in oil exploration and real estate has moved up, ranking next to Dangote as Africa's second richest man.

He is followed closely - if one can use that word when discussing billions - by Nigeria's Mike Adenuga, the founder of Globacom and Conoil Producing.

Those who didn't make the billionaire cut this year include Aspen Pharmacare founder Stephen Saad, Assor Group's Desmond Sacco and Shoprite investor Christoffel Wiese.

The eighth slot had five persons with one of them being Isabel dos Santos, Africa's richest woman whose wealth is estimated at $2.3 billion. From Egypt, Onsi Sawiris Egypt lost a heap of cash when the stock price of their main asset fell.

He made Kalambaina Cement firm a publicly traded Cement Company of Northern Nigeria (CCNN) in 2018.

Abdulsamad Rabiu, returns to the billionaires' club with a net worth of $2.6 billion.

Nigeria produced a total of 4 billionaires.

Altogether the 20 African tycoons are worth $68.7 billion, down from $75.4 billion for last year's list.

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