Forbes Ranks Dangote Africa’s Richest Man

Aliko Dangote, the President of the Pan-African Conglomerate, the Dangote Group, has secured the top spot as Africa’s wealthiest individual for the twelfth consecutive year, according to Forbes.

The latest Forbes 2023 Index titled ‘Dangote Still Africa’s Richest for 12th Consecutive Year’ confirms this distinction. Dangote, renowned for his business empire with Dangote Cement Plc as its flagship, stands out as the largest cement producer in Africa. With an estimated net worth of $14.2 billion, an increase from last year’s $12.1 billion, he remains the sole Nigerian among the world’s top 200 richest individuals.

Earlier this year, in June, South African magnate Johann Rupert had briefly claimed the title of Africa’s richest person with a net worth of $12 billion, according to Forbes Magazine.

However, the latest report reinforces Dangote’s position as Africa’s wealthiest person. In addition, Bloomberg has also recognized Dangote as Africa’s richest man, while placing Bill Gates in fourth position globally.

According to the statement, Forbes’ recent ranking of world billionaires for 2023 reveals that a challenging year characterized by declining stocks, struggling unicorns, and rising interest rates impacted the wealth of the world’s richest individuals.

See also: Dangote, Bill Gates To Meet Tinubu On Monday

Currently ranked 124th among the world’s billionaires, Dangote holds the honour of being the only Nigerian among the top 200 billionaires worldwide. Moreover, he is one of only two Africans in that exclusive category, alongside South Africa’s Johann Rupert, a luxury goods dealer, who holds the 157th position with a net worth of $11.1 billion.

The statement further highlights that Dangote Cement, the continent’s largest cement producer, was founded and is chaired by Africa’s wealthiest individual. With a production capacity of 51.6 million tonnes per year across ten countries in Sub-Saharan Africa, Dangote Cement operates integrated factories in seven countries, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.

Chidalu Glory

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