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Nigerian industralist, Aliko Dangote has topped Forbes Africa’s 40 richest list for the second year, with a net worth of $12billion, up from $10.1 billion, in November 2011. According to Forbes, most of his net worth lies in Dangote Cement PLC, a company which operates in 14 African countries. Aliko Dangote, GCON, born April 10, 1957, in Kano Nigeria, is a Nigerian self-made business magnate. Based in Nigeria, he is the owner of the Dangote Group, which has interests in commodities with operations in his homeland and several other countries in Africa, including Benin, Cameroon, Ghana, South Africa and Zambia. Aliko Dangote is the founder of Dangote Group. He is considered one of the richest men in Africa. The Dangote consortium spans across numerous sectors of the Nigerian economy .The Dangote Group supplies commodities like cement, sugar, salt, flour, rice, spaghetti, fabric etc. He is into exporting, importing, manufacturing and real-estate. All of these are combined together to form what is known as the Dangote Group. Dangote Group today is associated with diverse types of manufacturing with good revenues. The list of wealthiest Africans features 12-South African and 11-Nigerian business tycoons – the most from all African countries. On the Nigerian list is Mike Adenuga telecoms and oil magnate, who was ranked 5th with a net worth of $4.6 billion from his companies. Former Zenith Bank boss, Jim Ovia, was ranked 19th with a net worth of $825 million while Abdulsamad Rabiu, who heads BUA Group is ranked 21st with a net worth of $675 Million. Folorunsho Alakija, who is one of the only two women on the list was ranked 24th with a net worth of $600 Million. Mrs Alakija was amongst the notable newcomers on the list and according to Forbes, she joined the wealthy list “due to her stake in the prolific Agbami oil field.” 73-year old former Minister of Defense, Mr Theophilus Danjuma with a net worth of $600 Million was ranked at the 24th position, while the founder of Honeywell Group, Oba Otudeko, who also sits as the chairman of a number of blue-chip companies in Nigeria, was ranked 26th with a net worth of $575 Million. At the 27th position is Mohammed Indimi with a net worth of $550 Million from the oil and gas sector, while 82 year-old, O.B. Lulu-Briggs also made the list on the 31st spot with a net worth of $500 Million from the oil sector as well. In 37th place is Sani Bello, former Nigerian military governor from Kano State and a one-time ambassador to Zimbabwe with a net worth of $425 Million. The last Nigerian mentioned on the list is Hakeem Belo-Osagie, the 57 year old Harvard-trained Petroleum Economist and chairman of Etisalat Nigeria, with an estimated $400 Million net worth from the oil sector. South African, Nicky Oppenheimer, came in the second rank following Aliko Dangote for the second year running as the second richest on the continent, with a $6.4 billion fortune – down $100 million from 2011.

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This article was first published on 22nd November 2012

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