Latest release from

Forbes Magazine:

Africa 2024

It’s official: Nigeria’s Aliko Dangote is no longer Africa’s richest man! The latest release from Forbes Magazine in January 2024 marks a significant shift in Afrika‘s wealthiest individuals, with Johann Rupert surpassing Aliko Dangote to claim the title of Afrika‘s richest person. According to the Forbes daily billionaires ranking platform, which provides real-time updates on the net worth of high-net-worth individuals, Aliko Dangote slipped to the second position as his wealth decreased from $13.5 billion katika 2023 kwa $9.5 billion at the beginning of 2024.

The list also highlights notable declines in the wealth of other billionaires, including Nigeria’s Mike Adenuga, who now occupies the tenth position. South Africa’s Patrice Motsepe, previously in the top ten in 2023, has been displaced in the 2024 rankings. Regrettably, the list does not feature any women among the top ten wealthiest individuals at the start of the year.

The reported decline in the wealth of these individuals serve as indicators of the economic challenges faced by the #African continent. Johann Rupert family’s wealth, despite maintaining a significant position, decreased from $10.7 billion kwa $10.3 billion in 2024, while Aliko Dangote’s wealth declined from $13.5 billion kwa $9.5 billion.

The overarching observation is that Africa’s wealth, as reflected in the fortunes of its wealthiest individuals, remains comparatively modest when compared with the global wealth landscape. These shifts underscore the dynamic nature of economic fortunes and the need to address systemic challenges to foster sustainable economic growth across the Mwafrika bara.