Africa is home to some of the wealthiest and most influential business leaders, with Black billionaires dominating industries such as cement, telecommunications, oil, and mining. In this article, we rank the top five richest Black billionaires in Africa as of 2025 based on their net worth.
List of the Richest Black Billionaires
1. Aliko Dangote – $10.9 Billion (R203,476,840)
CEO, Dangote Group | Nigeria
Aliko Dangote remains the richest Black billionaire in Africa and the continent’s wealthiest individual. His fortune is largely derived from Dangote Cement, the largest cement producer in Africa, with a production capacity of 48.6 million metric tons annually across 10 countries.
Born in 1957 in Kano, Nigeria, Dangote built his empire from a small trading business into one of Africa’s largest conglomerates, spanning cement, sugar, flour, and petroleum. His Dangote Refinery, expected to be a game-changer in Africa’s energy sector, began refining operations in 2024. With an 85% stake in Dangote Cement and additional investments in fertilizer production, he remains a dominant force in the African industry.
2. Mike Adenuga – $6.9 Billion (R128,806,440)
Founder, Globacom & Conoil | Nigeria
Mike Adenuga, Nigeria’s second-richest Black billionaire, amassed his wealth through telecommunications and oil. He founded Globacom, Nigeria’s second-largest mobile network, with over 60 million subscribers. His oil exploration company, Conoil Producing, operates multiple oil blocks in the Niger Delta.
Adenuga started his entrepreneurial journey selling lace and soft drinks before securing an oil drilling license in 1990. His telecom company Globacom, which has expanded into Ghana and Benin, also owns Glo-1, a 6,100-mile submarine Internet cable connecting Africa to Europe. With additional investments in Sterling Financial Holding and Conoil, Adenuga’s business empire continues to thrive.
3. Abdulsamad Rabiu – $5.1 Billion (R95,204,760)
Founder, BUA Group | Nigeria
Abdulsamad Rabiu is also part of the richest Black billionaires in Africa. He is the founder and chairman of BUA Group, a major player in cement production, sugar refining, and real estate. In 2020, he merged Obu Cement with Cement Co. of Northern Nigeria to form BUA Cement Plc, which now trades publicly on the Nigerian Stock Exchange. He holds a 98.2% stake in the company and a 95% stake in BUA Foods, another publicly traded food conglomerate.
Rabiu’s journey into business started in 1988 when he began importing iron, steel, and chemicals. His father, Khalifah Isyaku Rabiu, was one of Nigeria’s most successful industrialists in the 1970s, providing him with the foundation to expand into various industries.
4. Patrice Motsepe – $2.7 Billion(R50,402,520)
Founder, African Rainbow Minerals | South Africa
Patrice Motsepe was the first Black African billionaire to appear on the Forbes list, having built his wealth in the mining industry. He founded African Rainbow Minerals, which has interests in gold, platinum, and base metals.
A lawyer by training, Motsepe made history in 1994 as the first Black partner at a Johannesburg law firm before transitioning into mining. He later purchased struggling gold mine shafts and turned them profitable. In 2021, he was elected President of the Confederation of African Football (CAF). Motsepe also owns Mamelodi Sundowns Football Club and has a stake in Sanlam, a leading South African financial services company.
5. Strive Masiyiwa – $1.8 Billion(R33,601,680)
Founder, Econet Wireless | Zimbabwe
Strive Masiyiwa is a London-based Zimbabwean and the founder of Econet Wireless, a leading telecom giant in Africa. Overcoming government resistance, he launched Econet Wireless Zimbabwe in 1998. He owns 38% of Econet Wireless Zimbabwe and 33% of EcoCash, a mobile money transfer service.
Masiyiwa’s investments extend to Liquid Intelligent Technologies, which provides fiber-optic and cloud services across Africa. He also serves on the boards of several major corporations, including Netflix. His philanthropic efforts through the Higherlife Foundation have supported over 250,000 African students, making him one of the most influential figures in African business and social impact.
As African economies grow, these black billionaires are expected to expand their wealth and influence, solidifying Africa’s place in the global market.
Also Read: Top 10 Richest Women in South Africa: Leading the Way in 2024
