Africa’s rich list reveals 10 newcomers

Forbes has compiled its second annual rich list of the 40 wealthiest citizens on the continent of Africa, with 10 newcomers including South African’s Koos Bekker, and Desmond Sacco, who joins the billionaire club for the first time.

Africa’s 40 richest features 12 South Africans, followed by Nigeria, with 11. Egypt has eight on the list, while fellow North African country Morocco has five.

The catchphrase, “the rich get richer” rings true as the 40 on the list boast a combined net worth of $72.9 billion, up 12% over 2011.

According to Forbes, for 32 people on the list, their fortune is self-made, while the average age stands at 63.

Nigeria’s cement king, Aliko Dangote again sits top of the pile with a net worth of $12 billion, up from $10.1 billion in November 2011. Most of his net worth lies in publicly traded Dangote Cement.

South African, Nicky Oppenheimer is second richest with a $6.4 billion fortune, though this is with $100 million less than in 2011, after he sold his family’s 40% stake in diamond producer DeBeers to mining company Anglo American for $5.1 billion.

Forbes’ list tracks African citizens who reside on the continent.

Other South Africans in the top 10 include Johann Rupert & family (3), with a net worth of $5.7 billion. The family owns JSE listed luxury goods company, Richemont.

Christoffel (Christo) Wiese, at sixth on the list with a net worth of R3.7 billion, is the chairman and the largest single shareholder of Shoprite.

Patrice Motsepe, with $2.65 billion, is ranked eighth. He owns publicly traded mining conglomerate, African Rainbow Minerals.

Debutant on the list, Desmond Sacco is listed at 15th with a fortune of $1.4 billion thanks to his shares in mining group Assore.

Just behind Sacco, is Stephen Saad with $975 million, having founded JSE-listed Aspen Pharmacare.

Entrepreneur Cyril Ramaphosa is the next South African on the list, ranked 21st with a net worth of $675 million.

Lauritz (Laurie) Dippenaar is ranked 23rd with a fortune of $625 million, having co-founded Rand Consolidated Investing, which later became Rand Merchant Bank, and then FirstRand group. Dippenaar serves as non-executive chairman of First Rand.

Pick N Pay founder, Raymond Ackerman sits at 27th, having amassed a total of $550 million.

Placed at 35th on the list, Gerrit Thomas Ferreira is another co-founder of Rand Consolidated Investments. Having accumulated a wealth of $480 million, Ferreira now serves as non-executive chairman of RMB Holdings.

Another debutant, Koos Bekker is ranked 36th with a sum of $450 million. Bekker is CEO of media giant Naspers which has investments in China’s instant messaging firm Tencent Holdings and Russia’s Internet group Mail.ru. Strangely, Bekker does not earn a salary, bonus, or benefits. His net worth is held up in the value of his vested options in Naspers.

Listed in position 38 on the list, Jannie Mouton boasts a wealth accumulation of $415 million. He founded financial services company PSG, where he now serves as chairman.

Africa’s richest 40

Rank Name Net worth ($million) Age
1 Aliko Dangote 10,100 54
2 Nicky Oppenheimer & family 6,500 66
3 Nassef Sawiris 4,750 50
4 Johann Rupert & family 4,700 61
5 Mike Adenuga 4,300 58
6 Miloud Chaabi 3,000 82
7 Naguib Sawiris 2,900 57
8 Christoffel Wiese 2,700 70
9 Onsi Sawiris 2,600 81
10 Patrice Motsepe 2,500 49
11 Othman Benjelloun 2,400 79
12 Anas Sefrioui 1,750 54
13 Mohamed Mansour 1,700 63
14 Yasseen Mansour 1,550 50
14 Youssef Mansour 1,550 66
16 Mohamed Al Fayed 1,300 78
17 Jim Ovia 775 57
18 Lauritz (Laurie) Dippenaar 750 63
19 Shafik Gabr 730 59
20 Stephen Saad 640 47
21 Theophilus Danjuma 600 72
22 Alami Lazraq 575 61
23 Samih Sawiris 560 54
24 Oba Otudeko 550 67
25 Raymond Ackerman 545 80
26 Uhuru Kenyatta 500 50
27 Gerrit Thomas (GT) Ferreira 460 63
28 Hakeem Belo-Osagie 450 56
29 Abdulsamad Rabiu 400 NA
30 Mohammed Indimi 330 63
31 Chris Kirubi 300 70
31 Jannie Mouton 300 64
33 Michiel Le Roux 290 62
34 Adrian Gore 280 47
34 Strive Masiyiwa 280 51
36 Cyril Ramaphosa 275 59
36 Giovanni Ravazzotti 275 68
38 Mohamed Bensalah 270 41
39 Markus Jooste 260 50
40 Paul Harris 250 61

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Africa’s rich list reveals 10 newcomers