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Africa’s economy is booming as we see more and more intensive economic activities around the continent. With a nominal GDP of $2.9 trillion, analysts predict that in the coming decades, great progress would be observed through the African landscape. The African economy witnessed a reduction of 2.1% during 2020. However, African billionaires, like their counterparts in the rest of the world, saw their wealth grow by more than 12%. If you look at the areas of the economy where these billionaires are concentrated, you will find industries like vehicle manufacturing, oil production, real estate development, telecom sector, luxury goods. As the African economy recovers, these high-net-worth individuals will see an even bigger spike in their wealth. Let’s jump right in to the top 5 richest people in Africa.


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