Nigeria’s Alhaji Aliko Dangote lost N1 trillion ($5 billion) in one year as a result of drop in prices of shares at the stock market in Dangote cement even as he retains his position as Africa’s richest man.
According to Forbes’ Africa 50 richest 2015 released, yesterday, Dangote is still the number one richest African for the fifth year in a row, but his $16.7 billion net worth is nearly $5 billion lower than a year ago, a result of a drop in the stock price at his Dangote Cement and a weaker Nigerian currency.
The report said: “After several years of steady growth in Africa, some sectors of the economy hit a wall. Lower prices for oil and other commodities led to a smaller number of African billionaires than a year ago on Forbes new list of Africa’s 50 Richest – 23 billionaires this year, down from 28.”
“South Africans made the best showing on the Africa’s richest list this year, occupying 16 spots, up from 11 last year. Nigerians had a smaller representation, with 10 members on the list, down from 13. Eight members hail from Morocco, seven from Egypt, three from Tanzania and three from Kenya. There was one each from Algeria, Angola and Uganda.”
Forbes said that the continent’s wealthiest 50 are worth $95.6 billion, a decline of $15 billion from a year ago.
The second richest African on the list is Nicky Oppenheimer, whose estimated $6.6 billion fortune stems from the stake he inherited in diamond miner and marketer, DeBeers. In 2012, Oppenheimer sold the DeBeers stake to mining giant Anglo American for $5.1 billion in cash. He moves up the ranks from the number three spot in 2014.
According to Forbes’ Africa 50 richest 2015 released, yesterday, Dangote is still the number one richest African for the fifth year in a row, but his $16.7 billion net worth is nearly $5 billion lower than a year ago, a result of a drop in the stock price at his Dangote Cement and a weaker Nigerian currency.
The report said: “After several years of steady growth in Africa, some sectors of the economy hit a wall. Lower prices for oil and other commodities led to a smaller number of African billionaires than a year ago on Forbes new list of Africa’s 50 Richest – 23 billionaires this year, down from 28.”
“South Africans made the best showing on the Africa’s richest list this year, occupying 16 spots, up from 11 last year. Nigerians had a smaller representation, with 10 members on the list, down from 13. Eight members hail from Morocco, seven from Egypt, three from Tanzania and three from Kenya. There was one each from Algeria, Angola and Uganda.”
Forbes said that the continent’s wealthiest 50 are worth $95.6 billion, a decline of $15 billion from a year ago.
The second richest African on the list is Nicky Oppenheimer, whose estimated $6.6 billion fortune stems from the stake he inherited in diamond miner and marketer, DeBeers. In 2012, Oppenheimer sold the DeBeers stake to mining giant Anglo American for $5.1 billion in cash. He moves up the ranks from the number three spot in 2014.


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