2021 Forbes' Africa Billionaires list

[Leftside]

Below is list of the businessmen that are carrying the African economy on their shoulders. Majority are from Egypt, South Africa and Nigeria.

What is up with the Nigerian Billionaires though? They are making their billions just from ordinary commodities like Sugar and cement. For context purposes, a billionaire like Trump is worth 3 billion from all his wealth from Real estate, Five star Hotels, Resorts, Golf courses etc while Dangote is worth 12 billions from just selling sugar? Unbelievable stuff

 

[The Somali Caesar]

Aliko Dangote is also constructing an oil refinery which is expected for launch this year. It’s a $20 billion project with huge ROI obviously

Dangote Refinery, Lagos - Hydrocarbons Technology

Datong refinery in the Lekki Free Zone near Lagos, Nigeria, is expected to be the world’s biggest single-train facility, upon commissioning in 2021.

www.hydrocarbons-technology.com

 

[Xanibacal bin Barqa]

what happened to that Sudani billionaire?
forgot his name .


Nigeria, South Africa, Egypt and Algeria
the superpowers of africa , no surprise.

 

[Leftside]

what happened to that Sudani billionaire?
forgot his name .


Nigeria, South Africa, Egypt and Algeria
the superpowers of africa , no surprise.

I think you are referring to Mo Ibrahim. He is not among the top 10 but he is still a billionaire.

 

[Guled111]

Technology is where the money is in our generation

 

[Royalflush]

corruption makes the list again

 

[المهندس]

Because sugar and cement are necessities, not everyone needs 5 star hotels and golf courses.

 

[Recon Expert]

Nigeria has a population of 200 million and that Dangote guy is a monopolist.

 

[Singularity]

They'll all be quickly surpassed by up and coming tech billionaires in Africa. Brick and Mortar/ commodity billionaires are usually quick to start but can't haul it in the long run. The world advances, but their industries don't. They'll always be needed, but just won't muster the same power and wealth as we progress.

Same story every where else. In America, the richest people used to be those that owned sugar, cotton, textiles, etc. But now they've all been eclipsed by the likes of Bill Gates, Bezos, Zuckerberg, etc.

When an economy is developing, like in most African countries, the richest are those that have horded the most natural resources. But, in developed economies its the folks that can innovate and create the best solutions.

 

[Singularity]

Nigeria has a population of 200 million and that Dangote guy is a monopolist.

And, his grandfather was a rich Muslim businessman who had already established his families reputation and status. He didn't come from the dirt - he had a good education, network and resources all of which he used intelligentially to his advantage and to monopolize the industry with the help of the gov't

 

[Apollo]

Afro-Asiatic speaker numba one #1!!!!1

also numba #2!!!!2

and 6, 7, and 8!

 

[cawaale]

I don’t think we will see tech billionaires from the African continent for security reasons. Just look at tiktok, america is desperate to shut it down. African countries stand no chance.

 

[Leftside]

corruption makes the list again

I heard that Dangote established his monopoly businesses using political connection and influence from his tribe during the days of military rule in Nigeria.

 

[Singularity]

I don’t think we will see tech billionaires from the African continent for security reasons. Just look at tiktok, america is desperate to shut it down. African countries stand no chance.

Tech isn't just social media - only 2 of the world's top 20 richest tech companies are social media companies and 2 years ago there was only one - facebook. In 2050, 3 out of the 10 most populous nations on earth will be in Africa, and by 2100, 40% of all people on earth will be from Africa. They need technology solutions just like everyone else.

You could make the argument that companies in developed countries that already have broad market share will just export their services to Africa, but I do think there will be some homegrown entities, too.

 

[Username]

No Somali (or any East African) on the list

 

[Leftside]

I don’t think we will see tech billionaires from the African continent for security reasons. Just look at tiktok, america is desperate to shut it down. African countries stand no chance.

America and China will continue to dominate the big tech industry for the foreseeable future.

The biggest challenge that hinder tech startups in Africa is capital. You can have brilliant minds with great innovative ideas but without capital your innovative ideas will remain just ideas in your head.

There are many small scale startups in Africa currently but they are having difficulties in raising capital.

 

[Leftside]

No Somali (or any East African) on the list

Somalia and its economy has been in a mess for decades due to political instability. Currently the Somali economy is barely 7 billion in GDP. There is no way that such a small economy can produce a billionaire.

If we consider the whole of Eastern Africa I think it is only Tanzania that has a dollar billionaire.

 

[Username]

Somalia and its economy has been in a mess for decades due to political instability. Currently the Somali economy is barely 7 billion in GDP. There is no way that such a small economy can produce a billionaire.

If we consider the whole of Eastern Africa I think it is only Tanzania that has a dollar billionaire.

True but I always hear Somalis do well in Kenya so I was expecting a Somali from there at least.

 

[Leftside]

True but I always hear Somalis do well in Kenya so I was expecting a Somali from there at least.

There are many somali millionaires in Kenya but there is no billionaire. Kenya as a whole doesn't even have a single dollar billionaire. I think maybe it's because there are no monopoly businesses there where a single individual controls multiple sectors of the economy as is the case in a place like Nigeria.