Aside from the fact that Africa is ruled by laws and democracy, the continent pays a considerable place to its kings and monarchs.
Being a traditional monarch in Africa can be a lucrative affair. They usually earn income from various sources including grants from members of the community, sales of lands, amongst others.
However, some of these kings are also successful businessmen.
They control large fortunes within their communities and without. In addition to their wealth is the influence which results in some of them getting invited to join boards of large corporations.
Here, we have compiled a list of some wealthy kings in Africa 2020.
- King Mohammed VI, Morocco
Estimated net worth: $5.4 billion
King Mohammed VI is the 27th king of the Alaouite dynasty who ascended the throne in July 1999.
Mohammed VI is considered the wealthiest African king, controlling Moroccan investment holding company Societe Nationale d’Investissement, whose assets are estimated to be worth more than $10 billion.
The King also owns a substantial chunk of the world’s phosphate reserves.
The king’s strategy in terms of economic development has led the boosting up of industrial market helping Morocco mark a position in the world.
- Fredrick Oba Obateru Akinrutan, Nigeria
Estimated net worth: $300 million
Oba Obateru Akinrutan is the traditional King of a small community in the state of Ondo, an oil-rich land. He ascended the throne in 2009.
Oba Obateru Akinrutan is the founder of Nigeria’s one of the largest privately-held oil companies- the Obat Oil.
He also owns an extensive portfolio of prime commercial and residential real estate in London and Nigeria, including the landmark Febson Hotels and Mall in the Central Business District of Abuja.
- Oba Adeyeye Ogunwusi Eniitan, Nigeria
Estimated net worth: At least $70 million
Oba Adeyeye Ogunwusi Eniitan, Ojaja II, is a Nigerian monarch who rules Ooni, the Yoruba kingdom of Ile-Ife. He ascended the throne in 2005.
Besides his royal status, he is a successful real estate businessman and the Chancellor of the University of Nigeria, Nsukka.
- King Mswati III, Swaziland
Estimated net worth: At least $50 million
King Mswati III ascended the throne in April 1986, hence, becoming the king of Eswatini and the head of the Swazi Royal Family at age 18.
He controls Tibiyo TakaNgwane, an investment holding company that has assets worth over $140 million, but he holds it in trust for the people of Swaziland.
- King Goodwill Zwelithini Kabhekuzulu, South Africa
Estimated Net Worth: $19 Million
King Goodwill Kabhekuzulu is the monarch of the Zulu group which is the biggest ethnic group in South Africa. He receives a yearly allowance of $6 million to fend for his royal household.
He receives lots of grants as well as luxuries including private flight travels which he enjoys regularly.
- Otumfuo Osei Tutu II, Ashanti, Ghana
Estimated net worth: $14 million
Otumfuo Osei Tutu II is the 16th King of Ashanti Kingdom in Ghana. He ascended the throne in 1999 and serves as the political and spiritual head of the Asante people.
He set up Transpomech Ghana in 1989, a $12 million (sales) company that provides mining equipment to several large industrial companies in Ghana.
Otumfuo owns extensive real estate in Ghana and South Africa.