There were 29 African billionaires in 2014, up from 20 just 2 years ago. In the same year, there were six newcomers to Forbes' annual ranking of Africa's richest. At the other end of the spectrum, seven people had dropped off the list, including SA's Cyril Ramaphosa, Adrian Gore and Raymond Ackerman. The 10 richest, however, have managed to remain steadfast.
For the first time in the four years that Forbes has been tracking Africa’s richest, Nigeria bested South Africa. At the top yet again was (is) cement tycoon Aliko Dangote of Nigeria, joined on the list of 'Africa’s 50 Richest' by 12 other countrymen. In comparison South Africa claims 11 spots, down from 14 a year ago.
Top 10 'Africa's 50 Richest 2014' billionaires
#1 Aliko Dangote (Nigeria)
Net Worth: $21.6-billion
Source of wealth: Self-made, cement, sugar, flour
Age: 57
Heralded by some as the face of the new Nigeria, Aliko Dangote, Africa's richest man, is looking beyond cement, sugar and flour - the three commodities that built his fortune - to the oil business. In April he announced $9-billion in financing from a consortium of local and international lenders to construct a private oil refinery and fertiliser and petrochemical complex in the country.
#2 Johann Rupert & family (South Africa)
Net Worth: $7.3-billion
Source of wealth: Luxury goods
Age: 64
Luxury goods billionaire Johann Rupert returned as chairman of Compagnie Financiere Richemont in September after a one-year sabbatical, during which he reportedly spent time reading and fly-fishing. Rupert formed the Swiss company, best known for such brands as Cartier and Montblanc, in 1988 after spinning off international assets owned by Rembrandt Group Limited (now Remgro Limited).
#3 Nicky Oppenheimer & family (South Africa)
Net Worth: $6.8-billion
Source of wealth: Diamonds
Age: 69
After cashing out of the diamond business, Nicky Oppenheimer is moving into investing. The Oppenheimer family ended its 85-year reign atop diamond giant De Beers in 2012 when Nicky sold his 40% stake to mining conglomerate Anglo American for $5.1-billion in cash. Anglo American, which Nicky's grandfather founded, now controls 85% of De Beers; the government of Botswana owns the remaining 15%.
#4 Nassef Sawiris (Egypt)
Net Worth: $6.1-billion
Source of wealth: Construction
Age: 53
In November Egypt's richest man, Nassef Sawiris, won a tax evasion case that had pitted him against the government of former Egyptian President Mohamed Morsi. Sawiris had agreed to disburse $1-billion over five years, but appealed after Morsi was ousted. Previous rulings against Sawiris are also expected to be nullified. As a result, Sawiris announced that he is pressing ahead with investments in Egypt.
#5 Christoffel Wiese (South Africa)
Net Worth: $5.4-billion
Source of wealth: Self-made, retailing
Age: 73
Retailing tycoon Christoffel Wiese continues to chase deals and add to his wealth. In September, he announced plans to swap his minority stake in information technology company DigiCore for a stake in ConvergeNet, a South African tech business that's being restructured into a diversified holding company. Among Wiese's best-known investments are a 15% stake in publicly traded Shoprite Holdings.
#6 Mike Adenuga (Nigeria)
Net Worth: $4.6-billion
Source of wealth: Self-made, oil, telecoms
Age: 61
Mike Adenuga is Nigeria's second richest man, thanks to savvy investments in mobile telecom and oil production. In 2003, he founded Globacom, which now has more than 27 million subscribers in Nigeria, making it the second largest mobile phone network company in the country after South African giant MTN. Adenuga is also the founder of oil exploration firm Conoil Producing.
#7 Mohamed Mansour (Egypt)
Net Worth: $4-billion
Source of wealth: Self-made, diversified
Age: 66
Mohamed Mansour, who oversees conglomerate Mansour Group, reports an increase in sales in the family's General Motors car business, which took a dive following the Egyptian revolution in 2011. Sales are on track to reach 70,000 vehicles this year - up from a year ago but still down from a peak of 94,000 in 2010. Its Al-Mansour Automotive has sole distribution rights for GM products in Egypt.
#8 Isabel dos Santos (Angola)
Net Worth: $3.7-billion
Source of wealth: Investments
Age: 41
Isabel dos Santos is working to expand her stable of investments. The oldest daughter of Angola's long-time president, Jose Eduardo dos Santos, was reported on 10 November to be making a $1.5-billion bid for Portugal Telecom SGPS SA, which owns a minority stake in Brazilian telecom operator Oi. She is a controlling shareholder in Portugal Telecom rival Nos SGPS (formerly called ZON), and also owns nearly 19% of Portuguese bank Banco BPI.
#9 Issad Rebrab & family (Algeria)
Net Worth: $3.2-billion
Source of wealth: Self-made, food
Age: 70
Issad Rebrab is the founder of Cevital, Algeria's biggest privately held conglomerate. It owns one of the largest sugar refineries in the world, with an annual output of 1.5 million tons. In April the group, which also produces vegetable oil and margarine, acquired the French assets of Fagor, a large Spanish maker of appliances which had filed for bankruptcy protection.
#10 Naguib Sawiris (Egypt)
Net Worth: $3.1-billion
Source of wealth: Telecoms
Age: 60
Naguib Sawiris took back the CEO role at his company Orascom Telecom Media & Technology (OTMT) in October, sending shares up more than 7%. The previous CEO resigned for personal reasons. Sawiris, who had held the post of executive chairman, vowed to lead a "new take-off" by devising a growth strategy for a company where the stock has languished. OTMT has investments in mobile phone, media and technology companies in Egypt, Lebanon and Pakistan.
[H/t: mweb / Forbes]
