Ventures Africa magazine has released their list of the top 10 Richest People in Africa 2013. The combined fortune of Africa’s 55
billionaires is $143.88 billion. The average net
worth of the members of this exclusive club is
$2.6 billion, while the median age of the
richest people in Africa is 65 years. The
oldest billionaires are Kenyan industrialist, Manu Chandaria, and Egyptian property
tycoon, Mohammed Al-Fayed, both aged 84.
The youngest billionaires are Mohammed
Dewji of Tanzania and Igho Sanomi, a
Nigerian oil trader. They are both 38 years old. Nigeria, South Africa and Egypt lead the pack
with the highest number of billionaires at 20,
nine and eight respectively. Algeria, Angola,
Zimbabwe and Swaziland only have one
billionaire each. In all, there are 10 African
countries represented on the list. Three women made it into the rankings. The
richest of them is Folorunsho Alakija, a
Nigerian fashion designer and oil tycoon worth
some $7.3 billion by our estimates.

See the full list after the Below…

1. Aliko Dangote $20.2 billion
Industry: Manufacturing
Country Of Citizenship: Nigeria
Age: 56
Marital Status: Married

Africa’s richest man started building his fortune
three decades ago after taking a business loan
from his maternal uncle to begin trading in
commodities such as flour, sugar, rice and cement.
In the early 2000s, he started producing these
items himself. His Dangote Group is now the largest manufacturing conglomerate in West Africa
and owns sugar refineries, salt processing
facilities, a beverage manufacturer and a string of
cement plants across Africa. In October 2012,
Dangote sold a controlling stake in his flour milling
company to Tiger Brands, a South African manufacturer of consumer goods. He pocketed
$190 million from the sale. Dangote’s biggest asset
is Dangote Cement, a $20-billion (market cap)
cement manufacturer with operations in 14
countries and an annual production capacity of 30
million metric tonnes. In June this year, South Africa’s Public Investment Corporation acquired a
1.5-percent stake in the company for $290 million.
Dangote is also Africa’s most generous
philanthropist. Within the last 12 months, he has
given away over $100 million to causes ranging
from youth empowerment to flood relief, religious causes and education. His younger brother, Sani
Dangote, is Vice Chairman of Dangote Group. Allan Gray

2. Allan Gray $8.5 billion
Industry: Financial services
Country Of Citizenship: South Africa
Age: 75
Marital Status: Married

This media-shy South African moneyman controls
two investment companies that collectively
manage over $50 billion in assets. After Gray
received an MBA from Harvard, he worked for eight
years at Fidelity Management and Research in
Boston before returning to Cape Town in 1973, when he founded Allan Gray Limited, now the
largest privately owned asset manager in South
Africa. It is also the most successful with assets
under management at approximately $30 billion.
According to inside sources at the company, Allan
Gray’s global mandate share portfolio has achieved an average annual return of 28 percent since 1974.
Keys to success include rigorous research and the
consistent application of Allan Gray’s ages-old and
time-tested investment approach of buying heavily
into companies whose share price is less than their
intrinsic value. Gray is also the founder of Orbis, an asset manager in Bermuda, which he founded in
1989. Orbis has over $21 billion under
management. Gray’s son, William, is President of
Orbis and equally serves as portfolio manager of
the Orbis Funds. Gray and his family are the
controlling shareholders of Allan Gray Limited and Orbis. In 2007, Gray endowed his Allan Gray Orbis
Foundation with $130 million, the single largest
charity gift in Southern Africa at the time. The
foundation funds scholarships for poor but
promising South African high school students.

3. Mike Adenuga $8 billion
Industry: Oil, telecoms
Country Of Citizenship: Nigeria
Age: 60
Marital Status: Married

Nigeria’s second richest man made his first fortune
in his mid-twenties by distributing lace fabrics and
Coca- Cola, and by handling lucrative government
contracts during the regime of former Nigerian
military President, Ibrahim Babangida. In the early
nineties he founded Conoil Producing, an indigenous oil exploration and production outfit that
was the first Nigerian company to strike oil in
commercial quantities. Today, Conoil Producing’s
assets produce more than 100,000 barrels of crude
a day. Adenuga’s other holdings include Globacom,
a Nigerian mobile telecommunications network that boasts more than 25 million customers in Nigeria
and Republic of Benin. He also owns a 74-percent
stake in Conoil PLC, a petroleum marketing outfit
listed on the Nigerian Stock Exchange.

4. Folorunsho Alakija $7.3 billion
Industry: Oil
Country Of Citizenship: Nigeria
Age: 62
Marital Status: Married

Africa’s richest woman sits atop Famfa Oil, a
Nigerian oil company that owns a 60-percent stake
in OML 127, one of Nigeria’s most prolific oil
blocks located at Nigerian offshore Agbami
deepwater field. Daily production at OML 127
stands at over 200,000 barrels per day. Alakija studied fashion design in England in the eighties,
returning to Nigeria to found Supreme Stitches, a
Nigerian fashion label which enjoyed patronage
from the more successful women in Nigerian high
society. One of her clients was Maryam
Babangida, the wife to former Nigerian military President, Ibrahim Babangida. Alakija is believed
to have ridden on the crest of this relationship to
acquire an oil block in 1993 at a relatively
inexpensive price. Famfa immediately entered into
a joint venture agreement with Star Deep Water
Petroleum (a subsidiary of Chevron and Brazil’s Petrobas), ceding a 40-percent stake to the two
companies. Famfa owned a 60-percent interest in
the block until 2000, when the incumbent Nigerian
president, Olusegun Obasanjo, forcefully acquired
a 50-percent stake in the block, transferring it to
the Nigerian National Petroleum Corporation – a government-owned oil company. Famfa Oil
immediately went to court to challenge the
acquisition in a case that dragged on for 12 years.
In May 2013, the Nigerian Supreme court
reinstated the 50-percent stake to Famfa Oil.
Alakija also owns $200-million of real estate in the United Kingdom.

5. Nicky Oppenheimer $6.5 billion
Industry: Mining, investments
Country Of Citizenship: South Africa
Age: 68
Marital Status: Married

Diamonds are not forever. In November 2011,
Nicky Oppenheimer made the momentous decision
to sell off his family’s stake in De Beers, the
world’s largest diamond producer, to mining
behemoth Anglo American. The landmark $5.1-
billion deal ended the Oppenheimer family’s eight- decade control of De Beers, which began when
Nicky’s grandfather, Sir Ernest Oppenheimer, took
over the firm in 1927 and consolidated the
company’s global monopoly over the world’s
diamond industry. In 2011, E Oppenheimer &
Sons, the family-owned investment firm which Nicky controls, partnered with Temasek, the
investment firm of the Government of Singapore, to
form Tana Africa Capital, a $300-million private
equity fund that invests in the fast moving
consumer goods (FMCG) and agriculture sectors.

6. Johann Rupert $6.1 billion
Industry: Luxury goods and retail
Country Of Citizenship: South Africa
Age: 63
Marital Status: Married

Johann Rupert is the chairman of Swiss-based
luxury goods company, Compagnie Financière
Richemont SA, which owns premium brands such
as Cartier, Dunhill, IWC Schaffhausen, Piaget and
Vacheron Constantin, among many others. It is the
sixth largest company on the Swiss stock exchange and the third largest luxury goods
company in the world. Johann’s father, Anton
Rupert, founded a small cigarette manufacturing
operation, Rembrandt, in his garage in 1941 with a
£10-investment. Rembrandt became incredibly
popular among young South African smokers and by the 1950s, was already one of the leading
tobacco firms in the continent. Anton, ever the
visionary, diversified from tobacco into the
industrial and luxury branded goods sectors,
splitting Rembrandt into two divisions: Remgro (an
investment company with financial, mining and industrial interests) and Richemont (the Swiss-
based luxury goods group). Johann is chairman
and the largest individual shareholder in both
companies. He also owns two of South Africa’s
best-known vineyards, Rupert & Rothschild and
L’Ormarins, and founded the Franschhoek Motor Museum, which houses his personal collection of
over 200 antique motor vehicles.

7. Nassef Sawiris $5.2 billion
Industry: Construction
Country Of Citizenship: Egypt
Age: 53
Marital Status: Married

Nassef Sawiris is the youngest of the three sons of
Egyptian billionaire and founder of the Orascom
conglomerate, Onsi Sawiris. He heads Orascom
Construction Industries (OCI), one of the largest
companies in the North Africa region. In January
this year, Nassef announced that OCI was exchanging all global depositary receipts of the
company for newly issued shares of OCI NV on the
NYSE Euronext in Amsterdam or in exchange for
cash. A consortium of investors, including
Microsoft founder Bill Gates, provided the $1 billion
in fresh capital required to pay off investors. The overwhelming majority of the shareholders
accepted the buyout offer, which subsequently led
to the company’s delisting on the EGX. Nassef
also serves as a director at Lafarge, the French
cement giant, and the Dubai international Financial

8. Gilbert Chagoury & Family $4.2 billion
Industry: Construction
Country Of Citizenship: Nigeria
Age: 67
Marital Status: Married

The Nigerian-Lebanese industrialist and diplomat is
a co-founder of the Chagoury Group, a large, multi-
faceted Nigerian conglomerate with interests in
manufacturing, construction, real estate, hospitality
and healthcare. Gilbert was born in 1946 in Lagos
by Lebanese immigrant parents. After studying at the College des Freres Chretiens in Lebanon, he
returned to Nigeria where he kick-started his
business career. In 1971 he started GrandsMoulins
du Bénin Flour Mills, a milling company in
Cottonou, Republic of Benin, which formed the
foundation of the Chagoury Group. Today, the Chagoury Group owns five flour-milling companies
in Nigeria and Republic of Benin. Chagoury’s
milling operations collectively produce over 3,700
metric tonnes of wheat flour every day. The
Chagoury Group also owns a glass bottle
manufacturing plant and a plastic bottle manufacturing operation. Other assets include Eko
Hotel, a five-star Hotel in Lagos, and Hotel
Presidential, a five-star hotel in Port Harcourt. One
of the newer companies within the group is South
EnergyX, a real estate development company that
is developing Eko Atlantic, a new $6-billion metropolis on land reclaimed from the Atlantic
Ocean. When completed, Eko Atlantic is expected
to provide residential accommodation for up to
250,000 people. Chagoury’s property portfolio also
includes Ocean Parade, a series of 14 tower
blocks overlooking a lagoon in Banana Island, Nigeria’s priciest residential community. Gilbert
Chagoury’s career has not been without
controversy. In 2001, in a British court, he admitted
to helping the family of deceased Nigerian dictator,
Sani Abacha, transfer $300 million into foreign
accounts. He returned the money and was indemnified of charges.

9. Nathan Kirsh $3.6 billion
Industry: Real Estate, Distribution
Country Of Citizenship: Swaziland
Age: 82
Marital Status: Married

Nathan Kirsh made his first fortune after he
founded a successful corn milling business in
Swaziland. He deftly reinvested his profits in food
distribution and real estate. The bulk of his fortune
is held in various property and distribution
companies. His investment company, Kirsh Holding Group, owns a 50-percent stake in Swazi
Plaza Properties – the company that owns the
largest shopping mall in Swaziland. He also owns a
29-percent stake in Minerva, a London-based
property developer, and a 63-percent stake in Jetro
Holdings, which operates Jetro Cash and Carry stores and Restaurant Depots in the New York City
area. Jetro enjoys a near monopoly in supplying
wholesale goods to small stores and restaurants in
the New York City area and had revenues of over
$6 billion in 2013. Kirsh is also the largest
individual shareholder in Magal Security Systems, a developer and supplier of control systems and
intruder detection systems.

10. Christoffel Wiese $3.4 billion
Industry: Retail
Country Of Citizenship: South Africa
Age: 72
Marital Status: Married

The South African businessman is the chairman
and greatest individual shareholder of Shoprite,
Africa’s largest discount retailer. After studying
Law at the University of Stellenbosch, Wiese took
up a job as an executive director at Pep Stores, a
discount clothing chain his parents co-founded. In 1979, Pep Stores diversified into groceries through
its acquisition of Shoprite, a small South African
retail chain. When Wiese became chairman of the
company in 1981, he changed the company’s
name to Pepkor and made a series of acquisitions
including Ackermans, a prominent clothing chain. He went on to list Shoprite on the Johannesburg
Stock Exchange. He owns a 15-percent stake in
the $7-billion (market cap) company. While his
Shoprite stake remains his biggest asset, he also
owns significant stakes in other Johannesburg
Stock Exchange-listed companies, including Invicta Holdings, PSG Holdings, Tradehold, and
private equity firm, Brait. Other assets include a
private game reserve in the Kalahari and
Lourensford Wine Estate.