The Forbes list of African billionaires shows that only 5 African countries are represented on the list of the 10 richest people in Africa. While the number of billionaires rose from 24 from last year to 25 this year, a number of people who were among the top 10 last year have dropped off. An example is Swazi businessman, Nathan Kirsch.
Some people completely dropped off the list of billionaires; the likes of Nigerian businessmen Femi Otedola and Abdulsalam Rabiu. Otedola, who made his fortune in oil marketing had a major drop from a net worth of US $1.6 billion in 2015 to about $330 million today. Rabiu, whose wealth comes from sugar now has a net worth that is less that US $1 billion. The two main reasons for this are economic challenges in Nigeria and her weakened currency.
The 10 richest people in Africa come from Nigeria, South Africa, Egypt, Angola and Algeria.
The African billionaire’s list doesn’t feature any African techies yet and doesn’t feature anyone less than 40 either but it’s a good thing that one woman is there on the top 10 list holding forte for the women folk.