Finance

Top 5 richest individuals or families in Francophone sub-Saharan Africa (Forbes Africa)

Friday, 02 December 2016 14:39

Forbes Africa in its December 2016-January 2017 edition published the second edition of its rankings of wealthiest individuals and families, in the Francophone part of sub-Saharan Africa, a region which is often forgotten in the world’s main rankings of wealthy individuals.

In the region which has “for long been ignored by economic press”, the richest person is Cameroonian Baba Danpullo with a wealth of $940 million, close to the billion. The former truck-driver now became rich by investing in various sectors such as telecom, agribusiness and real estate.

George Forrest, head of Forrest, a firm that operates in the construction, cement, mining, banking, agrofood and renewable sectors in DR Congo, is second in the rankings. The wealth of the entrepreneur, who is of French origin, is estimated at $800 million.

Next is another Cameroonian, Paul Fokam Kammogne, with an estimated wealth of $690 million. He is the head of Afriland First Group which operates mainly in banking, microfinance, insurance, communication and real estate.

The Rawji’s, a family of Indian origin that came to DR Congo about a century ago, comes 4th in the rankings. Operating mainly in the banking (Rawbank), consumer goods distribution, automobile distribution and logistics, the family’s wealth is estimated at $630 million.

Closing the top five is French-Malgasy businessman Ylias Akbaraly, with an estimated wealth of $460 million. He is the head of Sipromad, a group which operates in sectors such as the industry, tourism, aviation, real estate, security, telecommunication and new technologies. 

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