These African billionaires are chasing Dangote on the money league

pulse-ghana admin

January 26, 2018 4:39 PM

The Nigerian billionaire has been named the richest man on the continent for the seventh year in a row

The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has been adjudged as the richest man in Africa with a net worth $12.2bn, according to Forbes.

Dangote increased his worth by $100 million over the assessment period and looks poised to diversify his investments.

“The commodities tycoon is obviously looking beyond cement – his most valuable asset – and has been investing in a fertilizer production company and a large oil refinery,” the financial magazine said.

Business Insider SSA looks at the African leader striving to overtake the runaway billionaire.

Nicky Oppenheimer (South Africa, $7.7 B)

Oppenheimer sold his 40% stake in diamond firm DeBeers to mining group Anglo American for $5.1 billion in cash in 2012. He now owns an estimated 1% stake in Anglo American, which his grandfather founded in 1917.

Johann Rupert (South Africa, $7.2 B)

Johann Rupert is chairman of Swiss luxury goods firm Compagnie Financiere Richemont. He also owns a 7% stake in diversified investment firm Remgro; 25% of Reinet, an investment holding company based in Luxembourg.

Nassef Sawiris (Egypt, $6.8 B)

Sawiris runs OCI, one of the world's largest nitrogen fertilizer producers, with plants in Texas and Iowa. He also has stakes in cement giant Lafarge Holcim and Adidas.

Mike Adenuga (Nigeria, $5.3 B)

Mike Adenuga made his first million at age 26 selling lace and distributing soft drinks.He is currently Nigeria's second richest man. He owns Nigeria’s second largest telecom operator, Globacom, with 37 million subscribers.His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta.

Issad Rebrab (Algeria, $4 B)

Issad Rebrab is the founder and CEO of Cevital, Algeria's biggest privately-held company.Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year. He is worth

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