Aliko Dangote, Abdulsamad Rabiu, Femi Otedola, and Mike Adenuga have been named among Africa's billionaires in the 2025 Forbes ranking.
Forbes released the list on Saturday, with Dangote maintaining his position as Africa's richest person for the 14th consecutive year. His net worth surged to $23.9 billion, a significant increase from $13.9 billion in 2024, largely due to the valuation of his Dangote Refinery, which began operations last year.
Adenuga, chairman of Globacom, ranked fifth with a net worth of $6.8 billion, while Rabiu, founder of BUA Group, secured the sixth spot with $5.1 billion. Otedola, chairman of FBN Holdings Plc, ranked joint 16th with $1.5 billion, following a 40% surge in shares of Geregu Power Plc.
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South Africa led the ranking with seven billionaires, followed by Nigeria and Egypt with four each. Morocco had three representatives, while Algeria, Tanzania, and Zimbabwe each had one.
Forbes noted that Africa's 22 billionaires collectively amassed $105 billion in wealth, surpassing the $100 billion mark for the first time. The report highlighted the challenges of wealth accumulation on the continent, citing political instability, currency fluctuations, and tough market conditions.
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