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2020: Dangote Remains The Richest Man In Africa

In the latest ranking of the world’s billionaires by Forbes, the American global media company, focusing on business, investment, technology, entrepreneurship and leadership, Dangote’s present worth is down from his estimate of $10.3 billion, a year ago; attributed to possibly a slightly lower stock price for his Dangote Cement flagship company.

Aliko Dangote of  Nigeria has been declared as the wealthiest person in Africa, 9th year in a row with an estimated net worth of $10.1billion.

Nassef Sawiris of Egypt is the new number two richest, worth $8 billion, up from $6.3 billion last year. Sawiris’ most valuable asset is a stake in shoemaker Adidas worth a recent $4 billion. The increase in Adidas’ share price alone added nearly $1.5 billion to his fortune since January 2019. He also owns a significant stake in fertilizer producer OCI N.V.

In 2019, Sawiris and U.S. investor Wes Edens purchased the remaining stake they didn’t own in the U.K. Premier League team Aston Villa Football Club. Number three on the list is Nigeria’s Mike Adenuga, worth $7.7 billion.

He owns a mobile phone network, GloMobile as well as oil producer Conoil and extensive real estate holdings. His mobile phone network, Globacom, is the third-largest operator in Nigeria, with 43 million subscribers while his oil exploration outfit, Conoil Producing, operates six oil blocks in the Niger Delta.

Just two of the 20 billionaires are women: Isabel dos Santos, the eldest daughter of Angola’s former president, Jose Eduardo dos Santos; and Folorunsho Alakija of Nigeria. Dos Santos’ fortune has declined to an estimated $2.2 billion, down $100 million from a year ago.

In late December, an Angola court issued an order to freeze the assets that Isabel dos Santos and her husband, Sindika Dokolo, own in Angola. Those include her stake in telecom firm Unitel and stakes in two Angolan banks; Forbes estimates those assets are worth hundreds of millions of dollars.

A statement issued by Isabel dos Santos said the judgment contained “a number of untruths” and that she would fight the decision “by using all the instruments of Angolan and international law at my disposal.

 

 

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