14/11/2018
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Who are the top billionaires in Africa 2017

This year has seen fewer Africans featured on the continent’s billionaire list. What’s more, their net worth also reduced from 79.8 billion in the previous year to $70 billion.

Political, social and economic tensions in Africa continue to hold the continent back in terms of wealth creation and retention.

When it comes to age, Tanzanian Mohammed Dewji is Africa’s youngest billionaire. He is currently the CEO of a multinational company METL, which was founded by his father in the 1970s. On the flip side, Onsi Sawiris, an Egyptian, is the oldest billionaire (86) and the father of two other African Billionaires- Naseef and Naguib Sawiris.

Naseef who happens to be Egypt’s richest billionaire, gained up to $400 million to stand at $5.3 billion since November 2015. His brother, Naguib, was Egypt’s biggest gainer on the list. His net worth increased by $700 million in the past year.

“The country will also be bolstered by its strengthening local financial services, with a forecast 130 percent rise in its ultra-high-net-worth individuals (uhnwi) population over the next decade,” Mr. Andrew Amoils Head of Research at New World Wealth says.

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