{"id":139927,"date":"2022-01-26T07:55:54","date_gmt":"2022-01-26T06:55:54","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=139927"},"modified":"2022-01-26T07:55:54","modified_gmt":"2022-01-26T06:55:54","slug":"dangote-maintains-rank-as-forbes-richest-man-in-africa","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/01\/26\/dangote-maintains-rank-as-forbes-richest-man-in-africa\/","title":{"rendered":"Dangote maintains rank as Forbes\u2019 richest man in Africa"},"content":{"rendered":"

Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes\u2019 Top 10 Africa\u2019s Billionaires List.<\/p>\n

This is contained in a post on their verified Twitter account @Forbes.<\/p>\n

Chairman of BUA Group, Abdulsamad Rabiu, and chairman of Glo, Mike Adenuga, also made the list, occupying 5th and 6th positions respectively.<\/p>\n

According to the report, Aliko Dangote of Nigeria is for the 11th consecutive time occupying the first position of the continent\u2019s richest person, worth an estimated $13.9 billion, up from $12.1 billion in 2021.<\/p>\n

This according to the magazine, followed a 30 per cent increase in the stock price of Dangote<\/a> Cement, his most valuable asset.<\/p>\n

A surge in housing developments in Nigeria and growth in government infrastructure spending drove higher demand in the first nine months of 2021, analysts found.<\/p>\n

The report added that Africa\u2019s billionaires were richer than they had been in years, despite the global pandemic.<\/p>\n

As a group, the continent\u2019s 18 billionaires were worth an estimated $84.9 billion, a 15 per cent increase from twelve months ago and the most since 2014, when a larger number of billionaires, 28,were worth $96.5 billion combined.<\/p>\n

On average, the continent\u2019s billionaires were worth $4.7 billion now, compared to $3.4 billion in 2014 as soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, with demand for products from cement to luxury goods increasing.<\/p>\n

Jumping into the the number two from the list, spot-up from number four last year\u2013was luxury goods magnate, Johann Rupert of South Africa.<\/p>\n

More than 60 per cent surge in the share price of his Compagnie Financiere Richemont\u2013maker of Cartier watches and Montblanc pens\u2013pushed his fortune to $11 billion, up from $7.2 billion a year ago, making him the biggest dollar gainer on the list.<\/p>\n

South African Nicky Oppenheimer, who formerly ran diamond mining firm, DeBeers before selling it to mining firm, Anglo American, a decade ago, ranked number three, worth an estimated $8.7 billion.<\/p>\n

The biggest gainer in percentage terms\u2013up 125 per cent was Strive Masiyiwa of Zimbabwe, worth $2.7 billion, up from $1.2 billion last year.<\/p>\n

Shares of Econet Wireless Zimbabwe, which he founded, rose more than 750 percent in the past year, helping to drive up the size of his fortune.<\/p>\n

Another gainer: Nigerian cement tycoon, Abdulsamad Rabiu, is $1.5 billion richer after taking yet another of his companies\u2019 public.<\/p>\n

In early January 2022, Rabiu listed his sugar and food firm, BUA Foods, on the Nigerian Stock Exchange.<\/p>\n

He and his son retained a 96 percent stake in the company, which recently had a market capitalisation of nearly $2.8 billion. (Forbes discounts the values of stakes when the public float is less than 5 per cent).<\/p>\n

BUA Cement, in which he and his son had a 96 percent stake, listed in January 2020.<\/p>\n

According to the release, only two of the 18 billionaires are worth less than in 2021: Koos Bekker of South Africa, who dropped to $2.7 billion from $2.8 billion as the share prices of consumer Internet firms Naspers and Prosus fell more than 20per cent each.<\/p>\n

Mohammed Dewji of Tanzania, whose fortune declined to an estimated $1.5 billion from $1.6 billion a year ago, due to lower multiples for publicly traded competitors.<\/p>\n

The 18 billionaires from Africa, who were not new to the ranking, also hailed from seven different countries.<\/p>\n

South Africa and Egypt each had five billionaires, followed by Nigeria with three and Morocco with two.<\/p>\n

All of the continent\u2019s billionaires were men; the last woman to appear in the ranks, Isabel dos Santos of Angola, fell off the Forbes list in January 2021.<\/p>\n

Forbes noted that they list tracked the wealth of African billionaires who resided in Africa or had their primary business there, thus excluding Sudanese-born billionaire, Mo Ibrahim, who is a U.K. citizen.<\/p>\n

The billionaire London resident, Mohamed Al-Fayed, an Egyptian citizen. Strive Masiyiwa, a citizen of Zimbabwe and a London resident, appeared on the list due to his telecom holdings in Africa.<\/p>\n

It added that the Net worth were calculated using stock prices and currency exchange rates from the close of business on Wednesday, January 19.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes\u2019 Top 10 Africa\u2019s Billionaires List. This is contained in a post on their verified Twitter account @Forbes. Chairman of BUA Group, Abdulsamad Rabiu, and chairman of Glo, […]<\/p>\n","protected":false},"author":13,"featured_media":138986,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[28478,3582,5323,8169],"class_list":["post-139927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-africa-richest","tag-business","tag-dangote","tag-forbes"],"yoast_head":"\nDangote maintains rank as Forbes\u2019 richest man in Africa<\/title>\n<meta name=\"description\" content=\"Alhaji Aliko Dangote has retained his position as the richest man in Africa, with a net worth of $12.1 billion, according to the 2022 edition of the Forbes\u2019 Top 10 Africa\u2019s Billionaires List\" \/>\n<meta name=\"robots\" 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