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Aliko Dangote is Still the #OgaattheTop as Ventures Africa lists the Top 55 African Billionaires



Ventures Africa 55 Billionaire List

Will the real billionaires please stand up! Ventures Africa magazine has jumped into the rich list arena by publishing their inaugural ranking of the richest people in Africa today.

 According to Ventures Africa, there are 55 legitimate dollar-billionaires in sub-Saharan Africa! Who are they?

Well, VA says Africa’s richest person is Nigerian commodities tycoon Aliko Dangote who lays claim to a $20.2 billion fortune. The second richest person on the continent is South African money manager Allan Gray with a fortune pegged at $8.5 billion while the third richest person is Nigerian telecoms tycoon Mike Adenuga who is worth $8 billion.

The oldest billionaires are Kenyan industrialist Manu Chandaria and Egyptian property tycoon Mohammed Al-Fayed, both aged 84. The youngest billionaires are Mohammed Dewji of Tanzania and Igho Sanomi, a Nigerian oil trader. They are both 38 years old.

Three women make it to the rankings. The richest of them is Folorunsho Alakija, a Nigerian fashion designer and oil tycoon who is worth about $7.3 billion by our estimates. Isabel Dos Santos, an Angolan investor who is also the daughter of Angola’s President Eduardo Dos Santos and Mama Ngina Kenyatta, the widow of Kenya’s first President also made the cut.

The combined fortune of Africa’s 55 billionaires is $143.88 billion. The average net worth of the members of this exclusive club is $2.6 billion while the median age of the richest people in Africa is 65 years.

Nigeria, South Africa and Egypt lead the pack with the highest number of billionaires at 20, 9 and 8 respectively. Algeria, Angola, Zimbabwe and Swaziland only have one billionaire each. In all, there are 10 African countries represented on the list.

Commenting on the rich list, Ventures Africa’s Publisher Chi-Chi Okonjo said: “Ventures Africa’s Rich list is the most definitive guide to wealth in Africa. With our understanding of the culture of wealth on the continent and our proximity to its sources, we have been able to compile a comprehensive guide.

Ventures Africa is Africa’s leading business magazine and news service. Founded by Chi-Chi Okonjo and edited by Uzodinma Iweala the bi-monthly magazine is distributed across Africa in print and globally on the Internet, and as an App.

The Ventures Africa Rich List issue is available for download on iTunes and on Google play.

You can find out more via


  1. ides of march

    October 7, 2013 at 5:32 pm

    Can we get a list of those that made their wealth without government or oil and gas connections?

    • not easily impressed

      October 7, 2013 at 7:40 pm

      @ides, and monopoly things,sabotaging all avenues for others to grow. you already said part of what is on my mind jare.

  2. Idris Bello

    October 7, 2013 at 5:41 pm

    Dangote is the chairman!

  3. Anonymissie

    October 7, 2013 at 5:51 pm

    I couldnt help but notice that chi chi okonnjo and uzodinma iweala are related to Madam Ngozi Okonnjo-iweala

  4. Idris Bello

    October 7, 2013 at 6:12 pm

    Haba! So Ventures Africa is the project Ngozi Okonjo-Iweala is using to launder Nigeria’s money? I didn’t even notice that it is her brother and her son who run the show. Yepa!

    • CovertNigerian

      October 9, 2013 at 8:13 pm

      Reckless comments like these are why people think the Internet needs more controls. This could easily be considered to be slander. Are young people not allowed to work hard and reap benefits of their work because their parent is in government? What you say may be correct, but you do not know for sure. Her children are evidently intelligent and well educated, there’s no reason to believe that they are incapable of achieving success largely on merit. Uzo Iweala is a successful author, and their mom with or without being minister has resources to invest in her children’s venture. If you have substance, please provide it – enough with the lazy criticism and accusations.

  5. Gistyinka Blog

    October 7, 2013 at 7:15 pm

    Whoa this people are in money…

  6. parisclub

    October 7, 2013 at 8:14 pm

    i beg how does this affect our economy,our Iives or Africa as a whole. well I tap into the billionaire blessings, forbes would sure endorse me in my lifetime

  7. lucy

    October 8, 2013 at 1:22 am

    is Igho Sanomi married?

    • Kia

      October 8, 2013 at 8:54 am

      Yes with kids.

  8. Abdullahi Bature Dutsin-ma

    October 8, 2013 at 7:25 am


  9. Amb. Akande, gbenga paul.

    October 8, 2013 at 7:48 am

    What iz a president daugher [isabela Don Santos] doing on d list. We sure knw she must have gotten d cash tru govement asistance. Is she maried and what iz her age? Thankx.

  10. Idak

    October 8, 2013 at 9:12 am

    Have we not had enough of these lists? They seem to be the flavour of the month.

  11. Tee

    October 8, 2013 at 11:07 am

    Billionaires!!!!!!!!! But some are still owing banks money.

  12. arike

    October 8, 2013 at 1:20 pm

    ‘Founded by Chi-Chi Okonjo and edited by Uzodinma Iweala’…any ties to our Nigerian Finance Minister Ma’am Ngozi Okonjo-Iweala..otherwise, interesting coincidence

  13. ijescorner

    October 8, 2013 at 1:28 pm

    @ lucy – did you want to marry Igho Sanomi? LMAO
    @parisclub amen to you

    It’d be nice to see a list of those that made it rich with virtually zero kobo. Or perhaps list new businesses that started with less than one million naira to inspire other people, that you don’t have to come from money to make money. Maybe I should start my own list!

    And I heard that was started with only 50k, and now they are on top in terms of the recruitment sector in Nigeria.

  14. TonyW

    October 8, 2013 at 3:00 pm

    I am so proud to know that my brothers and sisters are doing great business in Africa. Some time we think only folks in the USA know how to do business.

  15. the mane captain (natural hair & skincare)

    October 8, 2013 at 5:13 pm

    20 billionaires in Nigeria? while i’m suppose to be proud and celebrating their success, I just shake my head and wonder how they’re using the money (clean or not) to impact lives in their country. Also, the two women in Angola and Kenya shouldn’t count as billionaires as we all know the billions are money their parents stole from the people

    • Habatically!

      October 9, 2013 at 5:52 pm

      All the women on the list are uninspiring – Mrs Alakija was given the oil bloc by Babaginda possibly held in trust for his wife who is her close close friend. So she should also be discounted. A fashion designer for our former 1st lady – how she take afford billionaire status a decade or so later is too amazing.

  16. hilda

    October 9, 2013 at 12:14 pm

    They are not going to take all that wealth to their graves anyway.

  17. Andrew

    October 9, 2013 at 12:59 pm

    Alhaji Aliko Dangote is truly an inspiration of a seasoned
    entrepreneur to many. He still maintain No. 1 on the top list of
    African billionaires and richest people. Thanks for

  18. siphiwe

    October 11, 2013 at 11:19 am

    lets make africa big and rich

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