Prime Business Africa
Abdulsamad Rabiu, the founder of BUA Group, Mike Adenuga, the founder of Globacom, and Femi Otedola, the chairman of First HoldCo, changed position on the list of Africa’s richest people compiled by Forbes.
While Aliko Dangote, the founder of Dangote Group, maintained his position on the list, he and Rabiu are the only Nigerians whose wealth increased between April 2025 and March 2026, while the networth of Adenuga and Otedola dropped.
Join our WhatsApp ChannelAccording to the ranking, Dangote maintained his top spot as the richest person in Africa after his networth increased by $4.6 billion or 19.24 percent, from $23.9 billion announced in April last year to $28.5 billion.
The second spot was occupied by Johann Rupert & family, a South African businessman, whose wealth is valued at $16.1 billion, up by $2.10 billion or 15 percent from the $14 billion he was worth in April 2025.
While Rupert maintained the second spot from last year, Rabiu jumped to the third spot from the sixth position last year, after his wealth grew by $6.10 billion or 119.60 percent to $11.2 billion, from $5.1 billion.
Nicky Oppenheimer & family, another South African mogul, dropped to the fourth spot, from third position, despite his wealth increasing by $200 million or 1.92 percent to $10.6 billion, from $10.4 billion.
Egyptian billionaire Nassef Sawiris, who was ranked fourth in April 2025, dropped to the fifth position with a $9.6 billion net worth, after his fortune recorded no changes.
Nigerians Outside Top Five
Adenuga dropped outside the top five, after his net worth declined to $6.5 billion, from $6.8 billion, which earned him the fifth spot last year — representing a $300 million or 4.41 percent decrease.
Also, Otedola’s wealth decreased by $200 million or 13.33 percent to $1.3 billion, from $1.5 billion, leading to the billionaire dropping to the 22nd spot on the list, from the 16th position he was ranked last year.
In addition, the number of billionaires in Africa increased to 23 as of March 2026, from 21 in April 2025.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
