This reflects an increase of $18.9 billion from the previous year’s total. Although their fortunes are still below peak levels, the steady recovery in African.

The year 2024 has seen a slight recovery for Africa’s richest individuals, with the collective net worth of the continent’s 21 billionaires reaching $100.4 billion.

This reflects an increase of $18.9 billion from the previous year’s total. Although their fortunes are still below peak levels, the steady recovery in African markets has helped reverse last year’s decline.

Notable on this year’s list is King Xenodzi and the return of Nigerian business mogul Femi Otedola, whose reappearance on the billionaire scene has contributed to the increase in wealth.

Otedola, after years of focusing on his power company Geregu, has significantly influenced the rankings.

Meanwhile, many of Africa’s wealthiest individuals continue to navigate the challenges of struggling economies, poor infrastructure, and unstable political climates. Despite these hurdles, they have made impressive strides in industries such as cement, telecoms, luxury goods, and mining.