- Africa’s billionaires saw their wealth increase by 21%, bringing their combined wealth to KSh 16.38 trillion as the economy continues to grow
- Leading billionaire Aliko Dangote has increased his wealth significantly with a surge in cement stocks and ambitious refinery expansion plans.
- Big changes included Abdulsamad Rabiu’s huge gain of 120%, largely driven by strong market performance of his cement company’s shares
Africa’s richest are riding the wave of economic growth, with the continent’s 23 billionaires collectively worth KSh 16.38 trillion: a massive 21% increase from last year, adding KSh 2.63 trillion to their wealth.
Source: Twitter
Strong stock markets, currency stability, and strong performance in key sectors such as manufacturing, mining, and retail have fueled this growth.
According to Forbes, most of those on the list of billionaires are 60 years old, and none are women.
South Africa boasts the most billionaires, with seven, followed by Egypt with 5, Nigeria with 4, and Morocco with 3. Actual value reflects March 1, 2026, market close, according to Forbes methodology.
Who are the 7 richest Africans by 2026?
Leading the group is Nigerian industrial giant Aliko Dangote, whose net worth is KSh 3.685 trillion.
The cement mogul and mixed business added KSh 594 billion this year, due to a nearly 69% increase in Dangote Cement shares and the company to double its profits in 2025.
Dangote’s massive oil refining project is gaining momentum with a recent KSh 51.72 billion deal for Chinese machinery to increase capacity by 2029, and the plans continue to be publicly listed.
In second place is the king of luxury goods of South Africa Johann Rupert and his family, worth KSh 2.082 trillion.
His high fashion and retail empire continues to thrive due to global demand.
Rising fast to third is Nigerian entrepreneur Abdulsamad Rabiu, who is now worth KSh 1.448 trillion after a whopping 120% increase, or an increase of KSh 788 billion, the biggest move on the list.
Its BUA Cement shares soared 135%, outpacing the Nigerian Stock Exchange’s impressive 81% rise, driven by higher profits and policy changes that are encouraging more equity investment.
South African diamond heiress Nicky Oppenheimer & family holds fourth place at KSh 1.371 trillion, drawing from metals and mineral assets.
Egyptian tycoon Nassef Sawiris ranks fifth with KSh 1.241 trillion in construction, engineering, and various stocks, including sports investments such as Aston Villa FC and a large position in Adidas.
Nigerian oil and communications director Mike Adenuga ranks sixth with KSh 840 billion. He maintains the strength of his diverse portfolio.
Rounding out the top seven is Egypt’s communications leader Naguib Sawiris, with KSh 724 billion.
How much will the Kenyatta family get from Northlands Heights Apartments?
Source: UGC
In other news, TUKO.co.ke reported that the Kenyatta family could make good money from the sale of apartments in Northlands Heights Apartments.
This project has 1,012 apartments. If all the apartments are bought at the listed cash price, the Kenyatta family could earn about KSh 8.73 billion in gross income.
Income will come from 80 studios, 128 one-bedroom apartments, 586 two-bedroom apartments, and 218 three-bedroom apartments.
The price of these houses ranges from approximately KSh 3.3 million to KSh 12.535 million, depending on the type of rooms.
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Source: TUKO.co.ke
