Alhaji Aliko Dangote still maintains his spot as Africa’s richest man, according to Forbes Magazine. The magazine disclosed that as at January 11, 2019, the 61-year-old was worth $9.9 billion.

Forbes listed him as the number one on Africa’s list of billionaires for the year 2019. The Kano State indigene has held the richest man tag for the past few years.

He was ranked the 100th richest man in the world in 2018 and number 66 on the Powerful People 2018 list – both released by Forbes.

Forbes put much of Dangote’s wealth to his cement business – the continent’s largest producer straddling most sub-Saharan African countries.

"Dangote Cement produces 44 million metric tons annually and plans to increase its output 33 per cent by 2020. Dangote also owns stakes in publicly-traded salt, sugar and flour manufacturing companies,” Forbes added.

Other billionaires listed

Behind Dangote is Nigerian oil magnate Mike Adenuga whose wealth was estimated at $9.2 billion. South African Nicky Oppenheimer, Egyptian Nassef Sawiris and Johan Rupert completed the top five list with $7.3bn, $6.3 bn and $5.3bn respectively.

The eighth slot had five persons with one of them being Isabel dos Santos, Africa’s richest woman whose wealth is estimated at $2.3 billion.

She is daughter to former Angolan president Jose Eduardo dos Santos and was at a point during her father’s reign head of state oil company. She was fired by new President Joao Lourenco on allegations of financial impropriety – she flatly denies all the allegations.

Others on the eight slot of the list are Zimbabwean telecoms tycoon Strive Masiwiya and South African mining magnate Patrice Motsepe.

Africa News