Dangote tops Africa’s Richest again

Aliko Dangote remains at the top of Africa’s Richest, according to Forbes, despite his net worth dropping by almost US$5 billion due to the weaker Nigerian currency and a fall in the stock price of Dangote Cement. This is the fifth consecutive year that Mr Dangote has enjoyed the top spot.

There are less Nigerians on the list than last year and fewer billionaires in all, which Forbes attributes to the low price of oil and other commodities. Nigerian BUA Group founder Abdulsamad Rabiu is at number 23 on the list, while Kenya’s Narendra Raval is new to the list at number 46 with a net worth of US$400 million from his interests in cement and building materials through his company, Devki Group – proving there is a great deal of money to be made in cement!