Complete List Of Forbes' Africa's Billionaires As Dangote Make Cut

12 January, 2019, 15:28 | Author: Regina Silva
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Forbes list of African Billionaires reveals that Globacom Group Chairman, Mike Adenuga Jnr is shy of $800 million from Dangote Group President, Aliko Dangote whose wealth plunged to $10 million from $12 million.

For eight years running, Africa's richest man, Aliko Dangote, maintained his position on Forbes' new list of African billionaires, but lost almost $2 billion compared to his net worth last year.

Dangote, chairman of the Aliko Dangote Foundation, was also ranked by Forbes as the 66th most powerful person on earth, ahead of Mike Pence, US Vice-President in May 2018.

On the home front, the wealthiest man in South Africa is Nicky Oppenheimer with a net worth of $7.7 billion in 2018 down to $7.3 billion.

According to Forbes, Adenuga's net worth remarkably shot up from $5.3 billion to $9.2 billion because he provided more detailed information about his assets.

Overall, the 20 African business tycoons are worth $68.7 billion, down from $75.4 billion a year ago.

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Folorunsho Alakija is the fourth richest Nigerian and the second woman in this year's African billionaires club.

His assets include the BUA Group, who runs and owns, and his Kalambaina Cement firm which has been merged with the publicly traded Cement Company of Northern Nigeria.

This may also have contributed to four people falling off the annual list."Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago", the statement read. "All but four members on the list have smaller fortunes than a year ago". He now owns 97 per cent of the entity.

As per ranking per country, Egypt and South Africa are tied with five billionaires each, followed by Nigeria with four, Morocco with two and Algeria, Angola, Tanzania and Zimbabwe with one billionaire each. But his OBU Cement, which operates independently, recently expanded its operations, with a new production line. Her net worth dropped due a decline in the value of the oil field, in part because its production has leveled off.

Forbes explained that: "Altogether the 20 African tycoons are worth $68.7 billion, down from $75.4 billion for last year's list". However, the average net worth for each individual on the list rose by $3.4 billion from $3.3 early 2018.

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