Femi Otedola Emerges as 20th Richest Person in Africa
Nigerian entrepreneur, Femi Otedola, has been ranked as the 20th wealthiest individual in Africa by Forbes, amassing a total fortune of N1.1 billion. This year, Otedola’s inclusion on the list contributed to the combined wealth of Africa’s top 20 richest people reaching $82.4 billion.
Forbes disclosed that Otedola made a reentry onto the list following his divestment from his oil ventures and the acquisition of a public power generation plant, Geregu, under Forte Oil. Holding a 73% stake in Geregu, valued at over $850 million, the majority of Otedola’s wealth can be attributed to this particular investment.
The roster of Africa’s 20 wealthiest individuals comprises four Nigerians, with Aliko Dangote, Mike Adenuga, and Abdulsamad Rabiu ranking as the top three richest individuals in Nigeria. Aliko Dangote maintained the number one position for the 13th consecutive year, amassing a fortune of $13.9 billion.
In addition to the fortunes of Nigeria’s billionaires, South Africa, Egypt, and Nigeria secured the most positions on the ranking, with other African nations such as Algeria, Tanzania, Zimbabwe, and Morocco also being represented.
The top 20 wealthiest individuals in Africa are as follows:
1. Aliko Dangote — $13.9 billion
2. Johann Rupert & family — $10.1 billion
3. Nicky Oppenheimer & family — $9.4 billion
4. Nassef Sawiris — $8.7 billion
5. Mike Adenuga — $6.9 billion
6. Abdulsamad Rabiu — $5.9 billion
7. Naguib Sawiris — $3.8 billion
8. Mohamed Mansour — $3.2 billion
9. Koos Bekker — $2.7 billion
10. Patrice Motsepe — $2.7 billion
11. Issad Rebrab & family — $2.5 billion
12. Mohammed Dewji — $1.8 billion
13. Strive Masiyiwa — $1.8 billion
14. Aziz Akhannouch & family — $1.7 billion
15. Othman Benjelloun & family – $1.4 billion
16. Youssef Mansour — $1.3 billion
17. Yassen Mansour — $1.2 billion
18. Christoffel Wiese — $1.2 billion
19. Michiel Le Roux — $1.1 billion
20. Femi Otedola — $1.1 billion
Furthermore, Forbes noted a shift in the fortunes of Africa’s wealthiest individuals, with some experiencing significant gains while others witnessed declines. Nonetheless, the overall wealth of these individuals saw a slight increase compared to the previous year.
In conclusion, the success and economic influence of Africa’s top billionaires remain a globally significant and admired topic, highlighting the continent’s growing prominence in the realms of business and entrepreneurship.
