Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu have been named among the continent’s richest individuals in 2026, according to the latest Forbes Africa Billionaires ranking.
Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion, adding about $4.6 billion over the past year. The growth was largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.
Telecommunications magnate Mike Adenuga also retained his spot among Africa’s billionaires. The founder of Globacom and chairman of Conoil Producing remains one of Nigeria’s most influential entrepreneurs, with diversified interests spanning telecoms, oil and gas, and banking.
Femi Otedola, chairman of Geregu Power Plc, made the list despite a slight dip in his fortune. Forbes estimates that the billionaire investor lost around $200 million following the sale of a majority stake in the power company at a discount to market value.
Abdulsamad Rabiu’s wealth increased substantially, largely due to BUA Cement shares rising 135% over the past year, outperforming the broader Nigerian stock market.
Collectively, the 23 billionaires on the continent are now worth $126.7 billion, representing a 21% increase from 2025 after adding $20.3 billion to their net worth. Strong equity markets, record corporate profits, and improved currency stability in several African economies contributed to this growth.
South Africa leads with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three. The 2026 ranking list did not feature any female billionaires from Africa.
