By Enitan Abdultawab
The number of billionaires in Africa has increased to 23 in 2026, with a combined net worth of approximately $126.7 billion, setting a new high. Africa’s broad economic options are reflected in the wealthiest individuals on the continent, who have made fortunes in industries ranging from manufacturing and natural resources to telecommunications, finance, and real estate.
The 2026 Forbes Africa Billionaires list shows not only the concentration of wealth in established economic hubs but also the emergence of new business leaders making a global impact.
1. South Africa – 7 Billionaires
Because of its advanced business and financial sectors, South Africa has the highest number of billionaires in Africa. Among the richest are Nicky Oppenheimer, whose family’s wealth is derived from their long-standing engagement in the diamond industry through De Beers, and Johann Rupert, whose luxury goods empire Richemont includes brands like Cartier and Montblanc. These people are prime examples of the nation’s robust presence in both domestic and international sectors, ranging from retail and mining to banking.
2. Egypt – 5 Billionaires
Egypt comes in second, with affluent businesspeople establishing themselves in telecommunications, construction, and industrial conglomerates. Mohamed Mansour, chairman of the Mansour Group, has a variety of holdings in automobile distribution and retail, while Nassef Sawiris continues to be the richest person in the nation thanks to international investments in sports and construction projects. Their achievements demonstrate Egypt’s ability to generate powerful corporate leaders on a worldwide scale.
3. Nigeria – 4 Billionaires
Four billionaires live in Nigeria, including Abdulsamad Rabiu of BUA Group, whose interests in infrastructure and cement are still expanding, and Aliko Dangote, whose Dangote Group includes the cement, sugar, salt, and energy businesses. Nigeria’s billionaires are a reflection of the nation’s sizable domestic market, vibrant entrepreneurial culture, and booming industrial, telecommunications, and energy sectors.
4. Morocco – 3 Billionaires
The main industries of Morocco’s billionaire class include finance, real estate, and other entrepreneurial endeavours. Morocco’s urban landscape has been shaped by Anas Sefrioui, a prominent player in building and real estate development, while others in the banking and industrial sectors support the nation’s expanding wealth base. These business executives’ attendance highlights Morocco’s position as a regional economic centre.
5. Algeria – 1 Billionaire
Algeria’s sole billionaire, Issad Rebrab, made his fortune through Cevital, the country’s largest private company with interests spanning food processing, steel, and agribusiness. Rebrab exemplifies how entrepreneurial vision in key industrial sectors can elevate Algeria onto Africa’s billionaire map.
6. Tanzania – 1 Billionaire
Tanzania is represented by Mohammed Dewji, whose MeTL Group encompasses trading, manufacturing, and financial services across East Africa. Dewji’s success highlights the region’s growing economic opportunities and the potential for business leaders to achieve continental recognition through diversified investments.
7. Zimbabwe – 1 Billionaire
Zimbabwe rounds out the list with Strive Masiyiwa, founder of Econet and Cassava Technologies. Masiyiwa’s telecommunications ventures have expanded across Africa, and his influence extends beyond business into philanthropy and social development, marking him as a key figure in the country’s economic narrative.
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