Forbes Magazine has named the Chairman of Dangote Group, Aliko Dangote as the richest man in Africa for the eight consecutive time, despite his wealth dropping by $2bn from $12.2bn in January 2018 to $10bn in 2019.
The Chairman of Globacom, Dr Mike Gbenga Adenuga, was ranked the second richest man with a net worth dramatically increased from $5.3bn to $9.2bn because he provided more detailed information about his assets.
The Chairman/Chief Executive Officer, BUA Group, Abdulsamad Rabiu, featured on the list for the first time since 2015.
Rabiu’s Kalambaina Cement Company Limited merged with Cement Company of Northern Nigeria, which he controlled, in December 2018. He now owns 97 per cent of the entity.
The Founder and Executive Chairman, Famfa Oil Limited, Mrs Folorunsho Alakija, whose net worth dropped to $1.1bn from $1.3bn, was ranked 19th.
The rank was a tie with South African banker, Michiel Le Roux.