Nigeria: Dangote tops Forbes Africa billionaires list with $28.5bn

By Zuleihat Owuiye, Mamos Nigeria

Nigeria’s Aliko Dangote has retained his position as Africa’s richest person, with an estimated fortune of $28.5 billion, according to the Forbes 2026 Africa Billionaires ranking. The continent’s 23 billionaires collectively added over $20 billion to their net worth, driven by stronger equity markets and improving currency stability.

Dangote’s wealth was boosted by a sharp rise in Dangote Cement shares, following the company’s record profits in 2025. South African luxury goods tycoon Johann Rupert ranked second with $16.1 billion, while Nigeria’s Abdulsamad Rabiu climbed to third position with $11.2 billion.

Of the 23 billionaires, 14 are self-made, with no women featured on the list.

The Forbes ranking attributes the wealth increase to improved investor confidence and stronger regional currencies.