By Boluwatife Oshadiya | March 10, 2026
Key Points
- Africa’s 23 billionaires are now worth a combined $126.7 billion, up 21% from 2025
- Nigeria maintains four names on the list led by Aliko Dangote, whose net worth rose to $28.5 billion
- Abdulsamad Rabiu records the biggest gain, with wealth jumping 120% to $11.2 billion
Main Story
Africa’s richest individuals expanded their fortunes significantly over the past year, adding $20.3 billion in combined wealth as stronger equity markets and stabilising currencies boosted asset values across the continent.
According to the 2026 Africa Billionaires Ranking released by Forbes, the continent’s elite group of 23 billionaires — often referred to as the “three-comma club” — now hold a combined net worth of $126.7 billion, representing a 21% increase compared with 2025.
Nigeria remains strongly represented on the list with four billionaires: Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola.
Dangote retained his position as Africa’s richest person, with his net worth rising to $28.5 billion, an increase of $4.6 billion over the past year. The surge was largely driven by the strong performance of Dangote Cement, whose shares climbed nearly 69% since March 2025 after the company reported a record ₦1 trillion profit.
Dangote has also accelerated investment plans in the downstream oil sector. The billionaire recently confirmed a $400 million agreement with a Chinese machinery company aimed at expanding the Dangote Refinery’s capacity, with the goal of doubling full production output by 2029.
The biggest wealth increase on the continent came from Nigerian industrialist Abdulsamad Rabiu, chairman of BUA Group, whose net worth rose 120% to $11.2 billion. The jump moved Rabiu from sixth place in 2025 to third on the 2026 ranking, behind South African luxury goods magnate Johann Rupert, whose family fortune stands at $16.1 billion.
Rabiu’s rise was supported by the strong market performance of BUA Cement, whose shares surged 135%, outperforming the broader Nigerian stock market.
South African banking entrepreneur Michiel Le Roux, founder of Capitec Bank, also recorded substantial gains after shares in the Johannesburg-listed lender increased 57%, exceeding the 45% rise in the local exchange.
Egyptian billionaire Nassef Sawiris, with an estimated net worth of $9.6 billion, remained financially stable during the period and was the only billionaire whose wealth neither increased nor declined. Sawiris owns stakes in Aston Villa Football Club and global sportswear company Adidas, where he is expected to become chairman in May 2026.
Not all fortunes grew. Four billionaires experienced declines. Moroccan real estate developer Anas Sefrioui lost approximately $300 million after shares in Group Addoha fell more than 30%, while Nigerian investor Femi Otedola saw his net worth dip by $200 million despite returning to the billionaire list after selling most of his stake in Geregu Power.
Both men are currently valued at $1.3 billion.
According to Forbes, the collective wealth increase reflects improving market conditions across several African economies.
“The members of the continent’s three-comma club — which surpassed $100 billion in combined wealth for the first time last year — are richer than ever, having added a collective $20.3 billion to their combined fortunes as major equity markets across the continent rally and regional currencies stabilise,” Forbes said in the report.
The ranking also shows that 14 of the 23 billionaires (61%) are self-made, though no women currently appear on the list. South Africa leads the continent with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.
Forbes said its calculations were based on stock prices and currency exchange rates as of March 1, 2026, with privately held companies valued using revenue estimates and comparisons with publicly traded firms.
What’s Being Said
“These 23 dealmakers and moguls are worth $126.7 billion, up 21% from 2025 as equity markets across Africa rally and currencies stabilise,” Forbes said in the ranking report.
Market analysts say the surge also reflects renewed investor confidence in African industrial and financial companies, particularly in sectors such as cement, banking, telecommunications and consumer goods.
What’s Next
- Investors will closely monitor African stock market performance in 2026, particularly in Nigeria and South Africa where several billionaire fortunes are tied to listed companies
- Expansion projects such as the Dangote Refinery capacity upgrade could significantly reshape Africa’s energy and industrial sectors in the coming years
- Forbes is expected to update billionaire valuations throughout the year as stock prices and currency movements change wealth calculations
The Bottom Line: Africa’s billionaire class is growing wealthier largely because of stronger capital markets and expanding industrial businesses. For Nigeria, the dominance of figures like Dangote and Rabiu highlights how manufacturing, cement and infrastructure investments continue to shape the country’s private-sector wealth creation.
Full List Of Africa’s Billionaires 2026
| Rank | Name | Net Worth | Industry |
|---|---|---|---|
| 1 | Aliko Dangote | $28.5 B | Diversified |
| 2 | Johann Rupert & family | $16.1 B | Fashion & Retail |
| 3 | Abdulsamad Rabiu | $11.2 B | Diversified |
| 4 | Nicky Oppenheimer & family | $10.6 B | Metals & Mining |
| 5 | Nassef Sawiris | $9.6 B | Construction & Engineering |
| 6 | Mike Adenuga | $6.5 B | Diversified |
| 7 | Naguib Sawiris | $5.6 B | Telecom |
| 8 | Patrice Motsepe | $4.3 B | Metals & Mining |
| 9 | Mohamed Mansour | $4 B | Diversified |
| 10 | Michiel Le Roux | $3.8 B | Finance & Investments |
| 11 | Koos Bekker | $3.6 B | Media & Entertainment |
| 11 | Issad Rebrab & family | $3.6 B | Food & Beverage |
| 13 | Jannie Mouton & family | $2.7 B | Finance & Investments |
| 14 | Mohammed Dewji | $2.1 B | Diversified |
| 14 | Strive Masiyiwa | $2.1 B | Telecom |
| 16 | Christoffel Wiese | $1.9 B | Fashion & Retail |
| 17 | Youssef Mansour | $1.8 B | Diversified |
| 18 | Othman Benjelloun & family | $1.7 B | Finance & Investments |
| 19 | Aziz Akhannouch & family | $1.6 B | Diversified |
| 20 | Yasseen Mansour | $1.4 B | Diversified |
| 20 | Samih Sawiris | $1.4 B | Service |
| 22 | Femi Otedola | $1.3 B | Diversified |
| 22 | Anas Sefrioui & family | $1.3 B | Real Estate |
