Billionaire businessman, Aliko Dangote, has been named the richest man in Africa for the 11th year in a row.
Forbes magazine in its 2022 list of Africa’s richest persons, disclosed that Dangote’s wealth jumped from $12.1 billion last year to an estimated $13.9 billion.
The magazine attributed the growth to a 30% increase in the stock price of Dangote Cement, his most valuable asset.
Also on the list are Abdulsamad Rabiu and Mike Adenuga, who ranked 5th and 6th richest persons on the continent with estimated values of $7 billion and $6.7 billion respectively.
According to the report, Africa’s billionaires were richer than they had been in years, despite the global pandemic. As a group, the continent’s 18 billionaires were worth an estimated $84.9 billion – a 15 per cent increase from twelve months ago and the most since 2014.