HomeBusiness & EconomyDangote Retains Spot As Africa’s Richest Man

Dangote Retains Spot As Africa’s Richest Man

Nigerian businessman, Aliko Dangote, has again been ranked as the richest man in Africa for 12 years.

According to American business magazine in a statement on Tuesday titled ‘Forbes 2023 Index: Dangote Still Africa’s richest for 12th consecutive year’.

The President of the Pan-African Conglomerate, the Dangote Group, tagged the only Nigerian in the list of first 200 richest men in the world with has an estimated net worth of $14.2bn, up from last year’s $12.1bn.

In June, Forbes Magazine reported that Dangote, whose cement is the largest producer of cement in Africa, got surpassed by South African Johann Rupert, who was ranked as Africa’s richest man, with a net worth of $12bn.

“ 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,” the statement said.

Forbes Magazine is owned by Integrated Whale Media Investments and the Forbes family. It is published eight times a year, and features articles on finance, industry, investing, and marketing topics. It also reports on related subjects such as technology, communications, science, politics, and law.


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