Billionaire businessman Aliko Dangote has maintained his position as Africa’s richest man in the 2026 Africa Billionaires Ranking released by Forbes.
According to the publication, Dangote’s net worth is estimated at $28.5 billion, up about $4.6 billion from the previous year.
Forbes attributed the growth in his fortune largely to the strong performance of Dangote Cement on the Nigerian Exchange Limited, where the company’s shares recorded significant gains during the period.
Dangote’s business empire also includes the Dangote Refinery, one of the largest industrial projects in Africa.
In the ranking, Abdul Samad Rabiu, founder of BUA Group, placed third with an estimated net worth of $11.2 billion.
Forbes said the rise in Rabiu’s wealth was driven by the strong performance of BUA Cement, whose shares also increased during the year.
Other Nigerian billionaires who appeared on the list include Mike Adenuga, founder of Globacom and chairman of Conoil Producing, and Femi Otedola, chairman of Geregu Power Plc.
However, Forbes noted that Otedola’s fortune declined by about $200 million following the sale of a majority stake in Geregu Power.
Overall, 23 African billionaires made the 2026 Forbes ranking, with their combined wealth estimated at $126.7 billion.
The figure represents a 21 percent increase from 2025, after the billionaires collectively added $20.3 billion to their fortunes.
In terms of country distribution, South Africa leads the list with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.
Forbes also noted that no female billionaire from Africa appeared on the 2026 ranking.
