by Ben Ebuka, Face2FaceAfrica
The eight wealthiest families in Africa made a combined wealth of $67.9 Billion as of January 15, 2023. The families came from three regions – North Africa, Southern Africa, and West Africa. Three families are from Nigeria, two are from South Africa, and three are from Arab countries.
The Dangote family in Nigeria stayed atop again as the richest in Africa, with a net worth of $13.5 Billion, made from the vast companies that made up the Dangote conglomerate.
The Sawiris family in Egypt retained the second spot with a total of $11.7 Billion thanks to the visionary mindset and entrepreneurship acumen of the family’s patriarch, Onsi Sawiris, who laid the foundation of the Sawiris business empire 92 years ago when he started the family’s first company in 1952. He steadily weathered the storms in the business environment until he handed over an enviable legacy to his three sons, Naguib, Nassef, and Samih.
The three families in Nigeria made a combined wealth of $26.8 Billion, the South African families made a total of $19.2 Billion, while the North African families’ fortunes totaled $21.9 Billion.
Dangote Family (Nigeria)
Net Worth: $13.5 Billion
The family makes wealth from diverse business interests. Dangote is the Founder of Dangote Group – a diversified and fully integrated conglomerate with interest spanning several industries in Africa including cement manufacturing, sugar refining, salt and seasoning, fertilizer production, infrastructure, tomato farming, rice farming, automotive, energy, petrochemicals, poly-sacks, and training academy. Dangote Cement is the largest cement producer in Africa.
Aliko Dangote controls 85% of the Dangote Cement, and the company operates in 17 countries in Africa. Dangote Cement produces about 48.6 million metric tonnes annually. The Dangote refinery in Lagos is expected to begin operation in the first quarter of 2024 and will be the largest private petrochemical refinery in Africa. His daughter Halima is the Executive Director, Commercial Operations at Dangote Group. Aliko Dangote is the wealthiest person in Africa and 130 in the world.
Sawiris Family (Egypt)
Networth: $11.7 Billion
Nassef Sawiris is the second son of the family and the Chairman of Orascom Construction Industries, one of the largest nitrogen fertilizer manufacturing firms in the world. His net worth is $7.3 Billion. One of his most valuable assets is the 6% stake in Adidas. He acquired a 5% stake in the New York-listed firm, Madison Square Garden Sports and owns a stake in Larfage Cement. He partnered with Fortress Investment Group to purchase Aston Villa FC. Nassef is the 4th billionaire in Africa and 304 in the world with a net worth of$3.3 Billion.
Naguib Sawiris owns an 88% stake in the Pan-European TV and video news network – Euronews. He owns Silversand – a luxury resort on the Caribbean island of Grenada. Naguib is the 8th billionaire in Africa and 883 in the world with a net worth of$3.3 Billion.
Samih Sawiris is the founder of Orascom Hotels and Development Holdings and the owner of resorts in Egypt, Montenegro, and Switzerland. He owns a 10% stake in Orascom Construction Industries. Samih is the newest billionaire in the family with a net worth of $1.1 Billion.
Rupert Family (South Africa)
Networth: $10.7 Billion
The main source of the family’s wealth comes from luxury goods. Johann Rupert is the Chairman of the Swiss Luxury firm – Compagnie Financiere Richmont, known for the two top brands, Cartier and Montblanc. He is the Chairman of Remgro – a South African investment holding company with interests in banking, financial services, glass, medical services, mining, petroleum, packaging, beverage, food, and personal care products. He owns a 7% diversified interest in Remgro and a 25% stake in Reinet, another investment company in Luxembourg. Johann Rupert is the second richest person in Africa and 230 in the world.
Oppenheimer Family (South Africa)
Net Worth: $8.5 Billion
Nicky Oppenheimer made $5.1 billion in 2012 when he sold his 40% stake in DeBeers – a company specialized in the mining and processing of diamonds. Nicky is the third generation of the Oppenheimer Family, and for 85 years until 2012, the family dominated the world’s diamond trade. He founded Fireblade, a world-class family business that provides vast aviation services. The family owns about 720 square miles of conservation lands across Botswana, South Africa, and Zimbabwe. Nicky Oppenheimer is the third wealthiest person in Africa and 241 in the world. The family earns more from the diamond business.
Rabiu Family (Nigeria)
Net Worth: $7.6 Billion
The family is amassing wealth through its stake in BUA Group – a conglomerate with interests in cement production, sugar refining, and real estate. Abdulsamad Rabiu is the Founder and Chairman of BUA Group. BUA Cement is traded on the Nigerian Stock Market, and Adulsamad Rabiu owns a 98.5% stake in the business. Rabiu began his business journey in 1988 by importing chemicals, iron, and steel. He is the 5th richest person in Africa and 350 in the world.
Mike Adenuga Family (Nigeria)
Net Worth: $5.7 Billion
The family is making fortunes through telecommunications and oil exploration. Mike Adenuga is the second wealthiest person in Nigeria, the sixth in Africa, and 324 in the world. He is the Founder and Chairman of Globacom, the third-largest mobile telecommunication operator in Nigeria with over 55 million subscribers. He owns Conoil, an oil exploration firm operating six oil blocks in Nigeria. He began his business career selling lace materials and distributing soft drinks.
Mansour Family (Egypt)
Net Worth: $5.6 Billion
Mohamed Mansour superintends over the family’s business empire – Mansour Group (formerly Loufty Mansour and Sons). Mansour Group was founded by Loufty Mansour, the family’s patriarch who died in 1976. Long after his death, the legacy he built still stands till this day. Mohamed established a dealership with General Motors in 1975 and is now the sole distributor of GM vehicles and Caterpillar products in Egypt and some other countries. He was a former minister of transportation in Egypt (2006 – 2009). Mohamed is the 12th billionaire in Africa and 1238 in the world with a net worth of $2.9 Billion
Rebrab Family (Algeria)
Net worth: $4.6 Billion
Issad is the Founder and CEO of Cevital, a family venture operating in a wide variety of industries, including food processing, distribution, electronics, iron and steel, flat glass, construction, automobile, and media. Cevital Group has expanded its operations to France, Italy, Spain, Tunisia, Morocco, and Brazil. Issad acquired SME Oxxo in 2013, relaunched Brandt in 2014, and acquired Luccini in 2015.
He is also the Chairman of the board of Cevital Group. Issad Rebrab is the 7th billionaire in Africa and the 536 in the world.