In recent years, Africa has produced some of the world’s richest billionaires. According to Forbesmagazine, the continent is home to 18 billionaires all of whom are over the age of 40.
This is an exciting time for Africa, as not-so-young people are achieving great things and making a real impact on the continent. In this blog post, we will explore the stories of some of these young billionaires and what they are doing to make a difference.
From tech entrepreneurs to retail moguls, these are the inspiring stories of Africa’s youngest billionaires.
Here are the top 10 youngest billionaires in Africa, according to the 2022 Forbes list:
1. Mohammed Dewji (age 47)
Net worth – $1.5 billion
Mohammed Dewji is the founder and CEO of Mo Dewji Foundation, a private philanthropic foundation in Tanzania.
He is the youngest billionaire in Africa and is the first person from Tanzania to be on the Forbes list of billionaires.
Dewji was born in Tanzania in 1975. He received his early education in Tanzania and then went on to study at the University of Dar es Salaam. After graduation, he worked in his family’s trading business before moving to the United Arab Emirates to start his own business.
In 2003, Dewji returned to Tanzania and founded the MeTL Group, a conglomerate with interests in agriculture, manufacturing, trade, and distribution.
The MeTL Group is now one of the largest companies in Tanzania, with annual revenue of $2.5 billion.
Dewji is a philanthropist and a campaigner for Africa’s development.
Few people have had as big an impact on the African continent as Mohammed Dewji.
The 47-year-old Tanzanian national is one of the youngest billionaires in Africa and the only one under 50 years old. He is the Founder and CEO of the MeTL Group, a conglomerate with interests in textile manufacturing, agriculture, distribution, and other businesses.
He is widely respected for his business acumen and philanthropy. He is a major player in the Ethiopian economy and has been instrumental in the country’s development.
In addition to his business success, Dewji is also known for his generous philanthropic work. He has donated millions of dollars to education, health, and other causes.
Dewji is an inspiring figure who is proof that Africa is a continent of opportunity. He is a role model for young entrepreneurs and a symbol of hope for the future of the continent.
2. Patrice Motsepe (age 60)
Net worth – $2.6 billion
Patrice Motsepe is a South African mining magnate and the founder and executive chairman of African Rainbow Minerals, one of the largest black-owned mining companies in the world.
He is also the owner of the Mamelodi Sundowns Football Club, one of the most successful soccer teams in South Africa.
Motsepe was born in Soweto, Johannesburg in 1955. His father was a police officer and his mother was a domestic worker.
He started his career as a lawyer, working for one of South Africa’s largest law firms, before moving into the mining industry.
In 2002, he was named the youngest billionaire in Africa according to the Forbes list. As of 2022, his net worth was estimated at $2.4 billion.
Motsepe has been a committed philanthropist, donating millions of dollars to charitable causes.
He is also a member of The Giving Pledge, a commitment by the world’s wealthiest individuals to donate half of their wealth to charitable causes.
3. Nassef Sawiris (age 61)
Net worth – $ 7 billion
Nassef Sawiris is the youngest billionaire in Africa according to the 2022 Forbes list. He is an Egyptian business magnate and philanthropist. As the chairman and CEO of Orascom Construction Industries (OCI), he has a net worth of $ 7 billion.
Sawiris inherited his wealth from his father, Onsi Sawiris, who founded OCI in 1950.
He began working for OCI in 1979 and took over as chairman and CEO in 1995.
Under his leadership, OCI has become one of the largest engineering and construction firms in the world, with operations in over 50 countries.
He is also a major shareholder in Orascom Telecom Holding, which was founded by his brother Naguib Sawiris. He is a board member of OCI NV and the World Economic Forum.
In addition to his business interests, Sawiris is a noted philanthropist. He has donated millions of dollars to charitable causes, including education, healthcare, and disaster relief.
4. Strive Masiyiwa (age 61)
Net worth – $1.3 billion
Strive Masiyiwa is a Zimbabwean billionaire businessman, entrepreneur, and philanthropist. He is the founder and executive chairman of Econet Global, a diversified telecommunications group. He is also the founder of the Strive Masiyiwa Foundation, a pan-African non-profit organization that provides educational opportunities for young people across the continent.
In March 2021, Masiyiwa was named the youngest billionaire in Africa according to the 2022 Forbes list of billionaires with a net worth of $1.3 billion. He is also the first Zimbabwean to make the list.
5. Aziz Akhannouch (age 61)
Net worth – $1.9 billion
Aziz Akhannouch is a Moroccan billionaire businessman.
He is the owner of the Akwa Group, a conglomerate with interests in agriculture, chemicals, media, and retail.
He is also the majority shareholder of Afriquia Gaz, a leading distributor of liquefied petroleum gas in Morocco.
Forbes magazine ranked Akhannouch as the youngest billionaire in Africa in its 2022 list of the world’s billionaires. His fortune was estimated at $1.9billion, up from $1 billion the previous year.
6. Yasseen Mansour (age 61)
Net worth – $1.1 billion
In 2022, Yasseen Mansour was named one of the youngest billionaires in Africa by Forbes Magazine.
At only 32 years old, Mansour is the Chairman and CEO of Mansour Group, one of the largest privately held companies in Egypt. Born into a wealthy family, Mansour took over the family business after the death of his father in 2008.
Under his leadership, the company has grown to become one of the most successful businesses in Egypt.
Mansour Group is a diversified conglomerate with interests in agriculture, automotive, construction, real estate, education, and more.
The company employs over 30,000 people and has a strong presence in Africa, the Middle East, and Europe. Mansour is also a major shareholder in many of the world’s largest companies, including Coca-Cola, IBM, and General Motors.
With a net worth of $1.1 billion, Mansour is one of the richest men in Africa.
He is an example of how Africa’s young entrepreneurs are making a large impact in the business world.
7. Abdulsamad Rabiu (age 62)
Net worth – $5.5 billion
Abdulsamad Rabiu is a Nigerian businessman and entrepreneur.
He is the chairman and CEO of BUA Group, a conglomerate with interests in mining, manufacturing, infrastructure, and real estate. In March 2021, Forbes ranked him as the youngest billionaire in Africa with a net worth of $5.5 billion.
Rabiu was born in 1961 into a wealthy family in Kano State, Nigeria. He attended Capital University in Columbus, Ohio, where he earned a degree in economics.
He subsequently worked in the family business before taking over as chairman in 1988.
Under Rabiu’s leadership, BUA Group has become one of the most diversified and successful businesses in Africa.
In addition to his business interests, Rabiu is an active philanthropist and has been involved in several social and political initiatives.
8. Aliko Dangote (age 65)
Net worth – $12.7billion
Aliko Dangote is the richest person in Africa and a leading figure in the business world.
He is the founder and president of the Dangote Group, a conglomerate with interests in food processing, cement manufacturing, and freight. He is also the chairman of the Board of Directors of the Dangote Foundation, a philanthropic organization.
Dangote was born in 1957 in Nigeria. He is the son of a wealthy trader and one of the youngest billionaires in Africa.
He attended business school in Egypt and started his business career in Nigeria. He slowly built up his conglomerate, which is now one of the largest in Africa.
Dangote is a major player in the African economy and is known for his philanthropic work.
He is committed to helping Africa’s development and has invested billions of dollars in infrastructure projects across the continent.
9. Naguib Sawiris (age 68)
Net worth – $ 3.4 billion billion
Naguib Sawiris is an Egyptian billionaire and one of the youngest billionaires in Africa.
He is the grandson of Naguib Sawiris, who founded the Orascom conglomerate. Naguib Sawiris inherited his grandfather’s fortune and has since grown it through investments in a variety of businesses.
Sawiris is a serial entrepreneur and has founded or co-founded a number of businesses, including Orascom Telecom, Onatel, and Wind Telecom.
He is also an active philanthropist, supporting several causes in Egypt and around the world.
In recent years, Sawiris has been focused on investing in Africa and has been a vocal advocate for the continent’s development.
He is one of the most influential businessmen in Africa and is widely respected for his work in promoting entrepreneurship and development.
10. Mike Adenuga (age 69)
Net worth – $5.9billion
Mike Adenuga rounds off the list of the youngest billionaires in Africa by Forbes magazine. Adenuga is the chairman and founder of Globacom, a telecommunications company with operations in Nigeria, Ghana, and Benin.
He is also the owner of Conoil, an oil and gas exploration and production company.
Adenuga’s story is an inspirational one. He was born into a poor family in Nigeria and had to drop out of school to support his family. He started as a taxi driver and then became a mechanic. He eventually saved enough money to start his own business.
His businesses have made him one of the richest men in Africa.
He is an example of what is possible if you are willing to work hard and take risks.
Conclusion
In a rapidly globalizing world, it’s no surprise that the list of Africa’s youngest billionaires is filled with entrepreneurs who are harnessing technology to transform industries and create new businesses. These young billionaires are not only making a mark in Africa but are also having a global impact.
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