A vision of Africa has been painted by mainstream media of poverty. Over 589 million Africans in the sub-Saharan region live without electricity. 37% of the 738 million people throughout the world without access to clean water reside in Africa.
However, that does not mean that every person who lives on this beautiful continent is rendered penniless. In fact, there are at least 20 billionaires who call Africa home.
Here are the 10 richest people who live in Africa:
10. Mohamed Mansour – Net worth: $2.7B
This billionaire oversees an investment group that bears his name, the conglomerate known as Mansour Group. Mansour Group is the second largest company in terms of total revenue for all of Egypt. This conglomerate is the largest General Motors dealer in the world, and has the sole rights to distribute GM’s vehicles throughout Egypt. Along with his brothers, Yasseen and Youseff, Mohamed Mansour also has contracts with international juggernauts such as McDonald’s, Red Bull, and UPS.
9. Issad Rebrab – Net worth: $3.2B
Issad Rebrab has found continued success as the CEO of Cevital, Algeria’s biggest privately-held conglomerate. Cevital owns one of the world’s largest sugar refineries, cranking out 1.6 million tons of the sweetener a year. Along with sugar, Cevital also produces margarine and vegetable oil. Rebrab skyrocketed to success by purchasing fledgling European companies. In 2014, Rebrab and company purchased a large appliance-maker out of France by the name of Groupe Brandt. Cevital has invested over $200 million to establish the Brandt brand in Algeria.
8. Isabel dos Santos – Net worth: $3.2B
She is the richest woman in Africa and is the eldest daughter of Angola’s President for 38 years and counting, José Eduardo do Santos. Controversy surrounds how Ms. dos Santos has acquired her assets. She denies any involvement with her father, however Forbes has revealed that the President did indeed appoint her as head of some of his old investments. In 2016, she was placed at the head of Angola’s state oil firm, Sonangol. The President’s daughter also has 25% stake in the country’s largest mobile network, Untiel and 42% of Banco BIC, a local bank in Angola. Ms. dos Santos also has many investments in Portugal.
7. Naguib Sawiris – Net worth: $3.7B
This Egyptian native made headlines recently for his benevolence when he offered to purchase an island from Italy or Greece to host refugees fleeing from the deadly conflict in Syria. However, both countries declined his offer. Sawiris made his money as the CEO of Orascom Telecom Media & Technology (OTMT) based out of Cairo. However, in December 2016, the billionaire stepped down from his position. Other investments of Naguib Sawiris include gold mining companies based out of other parts of Africa as well as Australia and Canada.
6. Nassef Sawiris – Net worth: $5.3B
Brother of #7 on this list, Nassef Sawiris is also noted for his charitable contributions. The richest businessman in Egypt donated $20 million to his alma mater, the University of Chicago. In 2015, Sawiris established a scholarship program with the Illinois-based school in honor of his father, Onsi. The funds are to benefit Egyptians who attend the school. Sawiris made his earning as the CEO of one of the largest nitrogen fertilizer production companies in the world, OCI. He also investments in Adidas and cement company, LafargeHolcim.
5. Christoffel Wiese – Net worth: $5.4B
South African retail tycoon Christoffel Wiese has brought ShopRite to Africa. Overseeing 11,000 stores across 30 countries, Wiese has brought low prices on everyday items to low-income areas. In return, he has made a ton of money. He also is the Executive Director of the retail brand, Prep and has investments with Virgin.
4. Johann Rupert – Net worth: $5.5B
This native of South Africa is now the chairman of Swiss luxury goods firm, Compagnie Financiere Richemont. Rupert found initial success by spinning off international assets owned by his father, Anton’s company, Rembrandt Group Limited. Now known as Remgro, the Rembrandt Group Limited started as a tobacco manufacturer. As Remgro, Rupert still owns a 7% stake in that company as well as 25% of an investment holding company out of Luxembourg called Reinet. Reinet also has stakes in British American Tobacco.
3. Mike Adenuga – Net worth: $5.8B
This Nigerian native earned his fortune through oil production and telecom companies. He oversees the second largest mobile phone operator in Nigeria called Globacom. With 36 million subscribers, the communications company also reaches Ghana and the Republic of Benin. This billionaire also operates 6 oil blocks in the Niger Delta through his oil company, Conoil Producing. Adenuga also established a real estate firm that sells hundreds of properties throughout Nigeria called Proline Investments.
2. Nicky Oppenheimer – Net worth: $7B
South African billionaire Nicky Oppenheimer gained his high net worth as the Deputy Chairman of DeBeers Mining from 1998 to 2011. In 2012, the diamond heir sold 40% of his stake in the company to the tune of $5.1 billion. Oppenheimer has spent a considerable amount of his fortune on various restoration projects around South Africa intended to preserve the land and wildlife.
1. Aliko Dangote – Net worth: $12.1B
The richest man in Africa is far and away Nigerian billionaire Aliko Dangote. He is the owner of Dangote Group. This investment company has operations in Benin, Cameroon, Ethiopia, Ghana, Nigeria, Senegal, South Africa, Tanzania, Togo, and Zambia. His company produces commodities such as salt, sugar, and flour. However, most of Dangote’s fortunes comes from Dangote Cement. This cement giant produces 44 million tons annually and is projected to reach a 33% increase by 2020.