BIG STORY

Top 5 richest Africans currently

Posted on

August 28, 2024

In 2024, the profiles of African billionaires continue to see remarkable fluctuation, demonstrating how swiftly fortunes can change in the continent’s unpredictable economic environment. From abrupt market volatility to revolutionary corporate acquisitions, the net worth of Africa’s richest individuals has seen significant changes this year. As a result, African billionaires have been switching places all year round.

Most notable of these changes is the switch between Nigeria’s Aliko Dangote and South Africa’s Johann Rupert. For a couple of weeks now, Johann Rupert has ousted Dangote as the continent’s richest man.

Africa’s fiscal situation has always been highly reactive, responding to a lot of market factors particular to the continent. This year has been no different.

Factors such as commodity prices, currency fluctuations, internal and external conflicts, political instability, and new market trends all contribute to the growth or decline of the fortunes of high-net-worth individuals.