Adenuga closes gap with Dangote in Forbes latest billionaires ranking Adenuga closes gap with Dangote in Forbes latest billionaires ranking
Globacom Chairman Mike Adenuga Jnr, with interests in oil exploration and real estate has moved up, ranking next to Aliko Dangote as Africa’s second... Adenuga closes gap with Dangote in Forbes latest billionaires ranking

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

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Here are the richest Africa’s Billionaires

1. Aliko Dangote – $12.2 billion net worth

2. Nicky Oppenheimer – $7.7 billion net worth

3. Johann Rupert – $7.2 billion net worth

4. Nassef Sawiris – $6.8 billion net worth

5. Mike Adenuga – $5.3 billion net worth

6. Naguib Sawaris – $4 billion net worth

7. Issad Regrab – $4 billion net worth

8. Koos Becker – $2.8 billion net worth

9. Mohamed Mansour – $2.7 billion net worth

10. Patrice Motsepe – $2.4 billion net worth

11. Aziz Akhannouch – $2.2 billion net worth

12. Yasseen Mansour – $1.9 billion net worth

13. Strive Masiyiwa – $1.7 billion net worth

14. Othman Benjelloun – $1.6 billion net worth

15. Mohammed Dewji – $1.5 billion net worth

16. Youssef Mansour – $1.4 billion net worth

17. Stephen Saad – $1.2 billion net worth

18. Michiel Le Roux – $1.2 billion net worth

19. Onsi Sawiris – $1.2 billion net worth

20. Desmond Sacco – $1.1 billion net worth

21. Christoeffel Wiese – $1.1 billion net worth

 

Forbes magazine said Adenuga’s net worth rose tremendously from $5.3 billion to $9.2 billion.

He is now just $800million away from Dangote Group President, Aliko Dangote, whose wealth dipped to $10billion, from $12 billion last year.

However, Dangote retains the Africa’s richest man title for the eighth consecutive time despite.

BUA Group Chief Executive Officer Abdulsamad Rabiu featured on the list for the first time since 2015.

The merger between Rabiu’s Kalambaina Cement firm with the Cement Company of Northern Nigeria, which he controlled, in December, last year, was formally consummated in Sokoto earlier this week. He now owns 97 per cent of the entity.

Kalambaina, which operates a new cement production facility, started selling cement mid-last year just as Rabiu’s OBU Cement has expanded its operations, adding a new production line.

Mrs Folorunsho Alakija, whose net worth dropped to $1.1 billion from $1.3 billion, was ranked 19th. She is vice chair, Famfa Oil, an indigenous oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset. Famfa Oil’s partners include Chevron and Petrobras.

Mrs. Alakija’s first company was a fashion label, whose customers included former military President Ibrahim Babangida and his wife, the late Maryam.

The Federal Government awarded Mrs. Alakija’s company an oil prospecting license in 1993, which was later converted to an oil mining lease.

Mrs. Alakija’s ranking tied with South African banker, Michiel Le Roux.

Forbes blamed plunging stock values and weaker currencies for the shrinking in the billionaires club in Africa.

It 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.

“Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”

In a per country ranking, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four and Morocco-two.

Forbes found one billionaire each in Algeria, Angola, Tanzania and Zimbabwe.

 

The Nation.

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