Dangote, Adenuga Are Richest Africans For 2019- Forbes

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Aliko Dangote, Mike Adenuga
Aliko Dangote, Mike Adenuga

Two Nigerians have emerged as as the richest Africans for 2019, according to American magazine- Forbes.

While Aliko Dangote, President of the Dangote Group is leading, Dr. Mike Adenuga, the Chairman of Globacom, is second.

Dangote managed to remain the richest man in Africa for the eighth consecutive time, seeing his wealth dropped from $12.2 billion in January 2018 to $10 billion in 2019.

Adenuga, with interests in oil exploration and real estate, moved up to be Africa’s second richest man. The shift was informed by the astronomical increase in his fortunes from $5.3 billion to $9.2 billion.

Another Nigerian, Abdulsamad Rabiu, the Chairman/Chief Executive Officer, BUA Group, featured on the list for the first time since 2015.

Rabiu’s controlled Kalambaina Cement Company Limited merged with Cement Company of Northern Nigeria in December 2018 and he now owns 97 per cent of the entity.

The Founder and Executive Chairman, Famfa Oil Limited, Mrs Folorunsho Alakija, whose net worth dropped to $1.1billion from $1.3 billion, was ranked 19th. She is pairing with South African banker, Michiel Le Roux.

Forbes explained that the increase in wealth of many of the public figures, saying, “Buffeted by plunging stock prices and weaker currencies, the number of African billionaires has shrunk to just 20, down from 23 a year ago.

“Four people fell off Forbes’ annual list of the continent’s richest since last year while one returned to the ranks after a four-year absence. All but four members of the list have smaller fortunes than a year ago.”

Egypt and South Africa led the continent with five billionaires each, followed by Nigeria with four and Morocco with two. Forbes found one billionaire each from Algeria, Angola, Tanzania and Zimbabwe.