Dangote regains title as Africa’s richest man after his wealth increases to N11.1trn ($14.2bn)

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The President of the Pan-African Conglomerate, the Dangote Group, Aliko Dangote, has regained his title as Africa’s richest man after his wealth rises to N11.1trn ($14.2).

This was disclosed by Forbes in a statement on Tuesday, July 12, 2023, titled ‘Forbes 2023 Index: Dangote Still Africa’s richest for 12th consecutive year’.

It stated that Dangote, whose business flagship, Dangote Cement Plc, is the largest producer of cement in Africa, is the only Nigerian in the list of first 200 richest men in the world with an estimated net worth of $14.2bn, up from last year’s $12.1bn.

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It would be recalled that in June, South African Johann Rupert was ranked as Africa’s richest man, Forbes Magazine, with a net worth of $12bn.

The statement said, “ Forbes, in its latest ranking of world billionaires for 2023 reported that falling stocks, wounded unicorns and rising interest rates translated into a down year for the world’s wealthiest people.

“Dangote, presently ranked 124th among the world’s richest billionaires, is the only Nigerian in the top 200 world billionaires and one of the two Africans within that bracket; with South Africa’s Johann Rupert, who deals in luxury goods ranked 157th with a net worth of $11.1bn.

“The Africa’s richest man founded and chairs Dangote Cement, the continent’s largest cement producer. Dangote Cement has production capacity of 51.6 million tonnes per year across ten countries in Sub-Saharan Africa, with integrated factories in seven countries, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.”

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