Aliko Dangote has retained his position as the richest person in Africa, while fellow Nigerian billionaire Abdulsamad Rabiu recorded one of the biggest increases in wealth on the continent.
Okay News reports that the combined wealth of Africa’s billionaires has risen to $126.7 billion, an increase of more than $20 billion from last year, according to the latest ranking of the continent’s richest individuals.
Dangote’s net worth is now estimated at $28.5 billion, making him the wealthiest person in Africa. His fortune increased by about $4.6 billion over the past year following the strong performance of Dangote Cement.
Shares of the company surged by nearly 69 percent, while the cement giant also doubled its profits in 2025 to a record one trillion naira.
Dangote has also announced plans to list his oil refinery on the stock market later this year and recently signed a $400 million agreement with a Chinese machinery company to help double the refinery’s production capacity by 2029.
Meanwhile, Abdulsamad Rabiu recorded the biggest increase in wealth among Africa’s billionaires. His net worth rose by $6.1 billion, bringing his total fortune to $11.2 billion.
The sharp rise in Rabiu’s wealth was driven by the strong performance of BUA Cement, whose shares increased by about 135 percent over the past year.
Following the surge, Rabiu has moved up to become the third richest person in Africa.
