Forbes Releases 2019 List of Richest Men in Africa, Dangote Retains Top Spot

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The President of the Dangote Group, Alhaji Aliko Dangote, is Africa’s richest man for the eighth consecutive year, according to the 2019 Forbes Africa’s Billionaires released yesterday.

He, however, lost almost $2bn compared to his last year’s worth.

Adenuga, with interests in oil exploration and real estate, moved up to be Africa’s second richest man.

Another Nigerian oil magnate, Folorunsho Alakija, was ranked 19th. Her net worth dropped slightly to $1.1 billion from $1.3 billion.

Others are Nigeria’s cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group, standing at number 16 on the list for the first time since 2015.

Commenting on the reduced net worth of the personalities, Forbes 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.”

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