Aliko Dangote remains Africa’s richest after allegedly loosen $5bn – Forbes

The President of the Dangote Group, Aliko Dangote has been rated the Africa’s richest person for the fifth consecutive year by Forbes. Dangote, through his cement company, operates in Nigeria and other African countries, including Benin, Cameroon, Ghana, South Africa, Togo, Tanzania and Zambia.

According to the magazine, Dangote’s $16.7bn net worth is nearly $5bn lower than his worth when the list was compiled last year as “a result of a drop in the stock price at his Dangote Cement and a weaker Nigerian currency.”

He surpassed Saudi-Ethiopian billionaire, Mohammed Hussein Al Amoudi, in 2013 by over $2.6bn to become the world’s richest person of African descent 

Nine other Nigerians made the magazine’s Africa’s 50 richest list. They include Mike Adenuga at 7th place, with $3.5bn; Folorunsho Alakija, with $1.7bn (13th); Femi Otedola, with $1.6bn (16th); Abdulsalam Rabiu, with $1bn (23rd); and Theophilus Danjuma, with $750m (30th).

Others are Tony Elumelu, with $700m (31st); Jim Ovia, with $550m (37th); Mohammed Indimi, with $500m (39th); and Orji Uzor Kalu, with $330m (49th).

Forbes noted that the number of Nigerians on the list fell from 13 in 2014, while South Africa climbed up with 16 slots from 11 last year.