Dangote, others brace up as new dollar billionaires emerge in Africa in 2023

Africa is currently experiencing an upsurge in wealthy individuals, despite not having the highest number dollar billionaires globally.

Forbes reports that the continent is home to about 46 billionaires and that in the next decade, private wealth is expected to rise by 30%, with millionaires and billionaires leading the growth.

BusinessInsider says the continent has many up-and-coming billionaires with high net worth. These individuals have succeeded remarkably in various industries, including technology and real estate.

Mohamed Mansour: $2.9bn

The Egyptian started working for his family company, Mansour Group, with interests in various sectors, including automotive, consumer goods, and retail.

Koos Bekker: $2.6bn

The Media entrepreneur began his journey as a billionaire via his company, Naspers, with stakes in internet companies around the globe, including Tencent and WeChat, the Chinese tech behemoth.

Mohammed Dewji: $1.5bn

The Tanzanian is the CEO of METL Group, a conglomerate based in Tanzania with interests in agriculture, manufacturing, and real estate. Dewij is active in agriculture, manufacturing, and real estate. He is also a philanthropist with his Mo Dewij Foundation to support education, health, and community development initiatives in Tanzania.

Yasseen Mansour: $1.1bn

The Egyptian billionaire businessman and his brothers own the Mansour Group with interests in automotive, transportation, and real estate.

Michiel Le Roux: $1.2bn

The South African ex-banker is worth about $1.2 billion. Le Roux co-owns Capitec Bank, disrupting the banking industry with interests in the underserved and unbanked market.

As Africa's economy continues to grow, more African dollar billionaires will emerge to contribute to the continent's growth. However, Nigerian industrialist Aliko Dangote has remained Africa's richest man for 12 years.

Dangote, with an interest in cement manufacturing, has a soon-to-be commissioned refinery with the capacity to produce 65,000 barrels of petrol.

According to Bloomberg Billionaire Index, he is worth $19.7 billion and occupies 83rd on the list.