• The number of African billionaires rose to 23 in 2026, according to Forbes.

• Their combined wealth jumped 21% over the past year to a record $126.7 billion.

• Nigeria’s Aliko Dangote remains Africa’s richest person for the 15th year.

The ranks of Africa’s billionaires expanded over the past year, and their combined wealth reached a record level, according to the 2026 edition of the Forbes ranking released on March 9.

The annual report from the American business magazine shows that the number of African individuals with fortunes of at least $1 billion rose from 22 in March 2025 to 23 a year later. The increase reflects the return of Egyptian businessman Samih Sawiris to the list.

Egyptian businessman Samih Sawiris

Altogether, the billionaires listed in Forbes Billionaires: Africa’s Richest People 2026 have never been richer. Their combined wealth climbed 21% over the past year—an increase of $20.3 billion—to reach $126.7 billion. The figure surpasses the previous record of $105 billion reported in 2025. Forbes attributes the surge largely to the recovery of major African stock markets and greater currency stability across the continent.

Dangote Still on Top, Rabiu Climbs the Rankings

Nigerian industrialist Aliko Dangote holds the top spot for the 15th consecutive year with a fortune estimated at $28.5 billion. His wealth rose by $4.6 billion over the past year, helped by strong performance at Dangote Cement, whose shares have surged 69% on the Lagos Stock Exchange since March 2025.

The company also doubled its net profit in 2025, reaching a record 1.0149 trillion naira, or about $725 million. Dangote has also benefited from the performance of his large oil refinery project, which is expected to list on the stock market by the end of 2026.

South African luxury goods magnate Johann Rupert remains the second-richest person in Africa, with a fortune of $16.1 billion, up from $14 billion a year earlier.

Nigerian businessman Abdulsamad Rabiu recorded one of the biggest gains in the ranking. The founder of BUA Group moved from sixth to third place after his fortune jumped 120%, rising by $6.1 billion to reach $11.2 billion.

Billionaire Wealth Still Concentrated in a Few Countries

Of the 23 individuals listed this year, only four saw their fortunes decline compared with last year. Among them are Moroccan real estate developer Anas Sefrioui, whose wealth fell by $300 million, and Nigerian investor Femi Otedola, who lost $200 million.

South African Johann Rupert

South Africa has the largest number of billionaires on the list with seven, followed by Egypt with six and Nigeria with four. Morocco has three billionaires, while Algeria, Tanzania, and Zimbabwe each have one.

Forbes includes only African billionaires who live on the continent or whose main business activities are based there. That rule excludes figures such as Sudan-born British citizen Mo Ibrahim and South African businessman Nathan Kirsh, whose operations are largely based in the United States and the United Kingdom.

Zimbabwean telecom entrepreneur Strive Masiyiwa, who lives in London, remains on the list because of his major investments in Africa’s telecommunications sector.

Walid Kéfi

Forbes ranking of Africa’s billionaires in 2026

1. Aliko Dangote — $28.5 billion (Nigeria)

2. Johann Rupert — $16.1 billion (South Africa)

3. Abdulsamad Rabiu — $11.2 billion (Nigeria)

4. Nicky Oppenheimer — $10.6 billion (South Africa)

5. Nassef Sawiris — $9.6 billion (Egypt)

6. Mike Adenuga — $6.5 billion (Nigeria)

7. Naguib Sawiris — $5.6 billion (Egypt)

8. Patrice Motsepe — $4.3 billion (South Africa)

9. Mohamed Mansour — $4 billion (Egypt)

10. Michiel Le Roux — $3.8 billion (South Africa)

11. Koos Bekker — $3.6 billion (South Africa)

12. Issad Rebrab — $3.6 billion (Algeria)

13. Jannie Mouton — $2.7 billion (South Africa)

14. Mohamed Dewji — $2.1 billion (Tanzania)

15. Strive Masiyiwa — $2.1 billion (Zimbabwe)

16. Christoffel Wiese — $1.9 billion (South Africa)

17. Youssef Mansour — $1.8 billion (Egypt)

18. Othman Benjelloun — $1.7 billion (Morocco)

19. Aziz Akhannouch — $1.6 billion (Morocco)

20. Yasseen Mansour — $1.4 billion (Egypt)

21. Samih Sawiris — $1.4 billion (Egypt)

22. Femi Otedola — $1.3 billion (Nigeria)

23. Anas Sefrioui — $1.3 billion (Morocco)