Nigeria's Online Blog

Forbes magazine has announced its inaugural list of Africa's top 40 richest people, highlighting Nigerian magnate Aliko Dangote as the continent's richest man. Forbes said its decision to launch the 40 Richest People in Africa is a "testament to the growing global importance of the continent."

"Fortunes are being created everywhere from South Africa clear north to Morocco and Egypt in a diverse array of industries," the magazine reported. Nigeria's Aliko Dangote made his fortune, estimated at $10.1 billion, at Dangote-Cement Plc, a construction company with a strong presence in Africa. According to Forbes, the company manages vast amounts of construction resources including a gas power plant, a gas pipeline and a dam with a total storage capacity of 5.1 million cubic meters.

The company employs 3,468 people.

Second to Dangote comes Nicky Oppenheimer, a former member of South Africa's diamond 80-year-old dynasty. Oppenheimer, who sold his family's remaining stake with De Beers in November to mining giant Anglo American. The historic transaction made headlines in November as Oppenheimer abdicated his role as Africa's top diamond magnate. "This has been a momentous and difficult decision as my family has been in the diamond industry for more than 100 years and part of De Beers for over 80 years," Oppenheimer said in a statement.

Egypt has the largest number of billionaires in Africa, according to Forbes, seven of them belonging to two families, the Sawiris and Mansours. Forbes said six African countries are represented on the list, including Kenya and Zimbabwe.
"Notable for their absence from the list: women. All 40 members are men," the magazine reported.