Billionaire businessmen, Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga and Femi Otedola have been named among Africa’s richest individuals in 2026.
This is according to the latest Africa Billionaires ranking released by Forbes.
The latest list shows Africa’s billionaire class expanding their fortunes significantly over the past year, with Nigeria showing strong presence.
According to Forbes, the 23 billionaires on the continent are now worth a combined $126.7 billion, representing a 21 per cent increase from 2025 after they collectively added $20.3 billion to their net worth.
Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion. The Nigerian industrialist added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.
Rabiu, founder of BUA Group also recorded a surge of 120 per cent or $6.1 billion to $11.2 billion, making him the third-richest person in Africa, up from sixth position last year.
The increase in Rabiu’s net worth was largely driven by the performance of BUA Cement, whose shares rose 135% over the past year, outperforming the broader rally on the Nigerian stock market.
Telecommunications magnate Adenuga also retained his place 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.
Otedola, chairman of Geregu Power Plc, also featured on the list despite a slight dip in his wealth over the past year.
Forbes estimates that the billionaire investor lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.
