Aliko Dangote emerges ‘Africa’s richest man’ for the 7th year in a row

Forbes has named the founder and Chief Executive of Dangote Group of companies, Aliko Dangote, as Africa’s richest man for the 7th year in a row with a net worth of $12.2billion which is an increase of $100m from last year.

According to the publication, Dangote was recently the only African selected among Bloomberg’s world 50 best persons in the year 2017.

“Dangote is looking beyond cement – his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery. Dangote Fertiliser is expected to start operations in the second quarter of this year,” Forbes said.

Diamond mining heir, Nicky Oppenheimer of South Africa, is named number two on the list of Africa’s richest people with a net worth of $7.7bn, up $700m from last year.

Other notable Nigerians on the list are Globacom Chairman, Mike Adenuga, with a net worth of $5.8bn he was adjudged the fifth richest man in Africa and Folorunsho Alakija, with an estimated worth of $1.6bn was adjudged as the 15th richest in Africa.

According to Forbes, two of the 23 listed African billionaires are women, unchanged from 2016. Isabel dos Santos, the daughter of Angola’s former President, Jose Santos, is worth an estimated $2.7bn, down from $3.2bn in 2016. Her net worth dropped in part due to a lower value for Banco BCI, as its book value plunged in 2016 amid a tough year for the oil-producing country.

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