Dangote named ‘richest man in Africa’ — 11th consecutive time

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Dangote named ‘richest man in Africa’ — 11th consecutive time

Aliko Dangote, president of Dangote, has been named Africa’s richest person — with a net worth of $13.9 billion – up from $12.1 billion last year.

Forbes, an American business magazine, said this in its latest report on Africa’s 2022 billionaires released on Monday.

Forbes said that the continent’s 18 billionaires were worth an estimated $84.9 billion ––a 15% increase from 2021. 

The worth is the highest value since 2014 — when 28 billionaires were worth a combined $96.5 billion.

“As a group, the continent’s 18 billionaires are worth an estimated $84.9 billion – a 15% increase from twelve months ago and the most since 2014, when a larger number of billionaires–28–were worth a combined $96.5 billion,” the report said. 

“On average, the continent’s billionaires are worth $4.7 billion now vs $3.4 billion in 2014.

“Soaring stock prices from Nigeria to Zimbabwe lifted the fortunes of these tycoons, as demand for products from cement to luxury goods ticked up.”

According to Forbes, the increase in Dangote’s monetary value resulted from the 30 percent increase in the stock price of Dangote Cement. 

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