Many people dream about being wealthy and powerful. But this kind of life is a reality for the richest presidents in Africa. The continent stands out on the global map with many untapped resources. These include crude oil, tin, gold, platinum, and more.
While the continent is classified as developing or third world, each of the 54 countries in Africa has affluent people. Some of them have been at the helm of leadership for years.
If you are curious about knowing Africa’s richest presidents, read on.
Who are the Richest Presidents in Africa?
Below is the list of the 20 richest African presidents with their net worth. The common sources of their wealth are inheritance, business, and, of course, presidential salary.
1. King Mohammed VI (Morocco) $5.8 Billion
Who is the richest president in Africa?
Muḥammad VI, the King of Morocco, is Africa’s richest president with a net worth of about $5.8 billion. Born in 1963, he ascended to power in 1999 following the death of his father. After being charged with the throne, he introduced several reforms in an attempt to free his people from poverty and other public issues.
He has been very successful in keeping his promises. Besides, Muḥammad VI owns many businesses in different economic sectors of Morocco. One of the most familiar sources that make him the richest African president is his Moroccan food conglomerate company, Societe Nationale Investissement (SNI).
Also Read: Top 10 Richest People in Africa
2. Ali Bongo Ondimba (Gabon) $1 Billion
Ali Bongo Ondimba, the president of Gabon, comes second on the list of the richest presidents in Africa. He became president in 2009 and has a net worth of about $1 billion. Like many African presidents, he has been in politics for so long.
The 1959-born head of state has studied in France and China. In 1977, he released a funk album. He joined politics in 1981 and ascended ranks up to the highest office in the land. He announced in August 2015 that he would donate all this inheritance to the youths.
3. Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) $600 Million
The president of Equatorial Guinea features in the third position with around $600 million of net worth. He has been serving as the president since 1979, making him one of the longest-serving heads of state.
He stands out as one of the richest presidents in Central Africa. Teodoro Obiang Nguema Mbasogo has earned much of his wealth from his businesses and presidential salary. He is said to own property both in his country and abroad.
Also Read: Top 10 Richest Footballers in Africa
4. Paul Kagame (Rwanda) $500 Million
Paul Kagame’s net worth of $500 million makes him one of the richest presidents in Africa. He is Rwanda’s fourth president, a position he has held since 2000. He was the vice president of Rwanda before becoming president.
The economy of Rwanda has grown rapidly under the reign of the 1957-born president. At the same time, he has amassed a fortune for himself. Aside from salary, he has made huge wealth through his family-owned company – Crystal Ventures.
5. Uhuru Kenyatta (Kenya) $500 Million
Uhuru Kenyatta has an estimated wealth of $500 million. Kenyatta is Kenya’s fourth president, having assumed power in 2013. He is the son of the country’s first president, Jomo Kenyatta. As such, president Kenyatta inherited huge wealth from his father.
He has also invested heavily in business spanning from the hotel to media industries. It’s no surprise he features in our list of the richest presidents in Africa.
Who is the richest present in East Africa? Well, President Kenyatta is arguably the richest in East Africa.
6. Cyril Ramaphosa (South Africa) $450 Million
Cyril Ramaphosa is the president of South Africa. He is also a politician and a businessman. He was elected as president in 2018. Ramaphosa is perhaps the richest president in Southern Africa.
Formerly, he was an entrepreneur, trade union leader, and anti-apartheid activist. Among the richest presidents in Africa, Cyril Ramaphosa is unique in the sense that he acquired all his education in South Africa.
The South African leader has a large investment portfolio. He has been an executive chairman for Shanduka Group. This group had stakes in various sectors including insurance, telecoms, banking, energy, and real estate.
7. Patrice Talon (Benin) $400 million
Patrice Talon, the president of Benin, has an estimated net worth of $400 million, making him part of the richest presidents in Africa list. Born in 1958, President Talon took power after winning in the second round of the 2016 presidential election in Benin.
In the previous year, Forbes ranked him as the 15th richest person in sub-Saharan Africa. The main source of Patrice Talon’s wealth is business investments, particularly in the cotton sector.
8. Nana Akufo-Addo (Ghana) $250 Million
Nana Akufo-Addo is the president of Ghana. He took office in 2017 and was re-elected in 2020. Previously, he served the country as Attorney General as well as Minister for Foreign Affairs. He features in the list of the richest presidents in Africa with a net worth of about $250 million.
Nana Akufo-Addo was born in 1944 in Ghana. He unsuccessfully competed for the presidency in 1998 and 2012 before winning Ghana’s 2016 presidential election. He has been a political activist in the past. Besides being president, Nana Akufo-Addo owns multiple businesses.
9. Mswati III (Swaziland) $200 Million
Mswati III is the king of Swaziland and one of the richest presidents in Africa. He was born in 1968 to King Sobhuza II and Ntfombi. He studies in Swaziland and in the UK. Mswati III made history in 1986 at 18 years old when he became the world’s youngest ruling monarch at the time.
With an estimated net worth of $200 million, the king lives a lavish lifestyle. He owns 13 palaces, a private jet, and top of the range cars. The sources of his wealth are inheritance, salary, and business investments.
10. Paul Biya (Cameroon) $200 Million
Paul Biya took office in 1982 following the resignation of the former Cameroonian president. Among the richest president in Africa, he is the oldest, having been born in 1933. Paul Biya is also the second longest ruling African president. His net worth is around $200 million
Some primary sources of his net worth include many family-owned businesses. He also has investments in the transport, banking, and construction sectors.
11. Abdel Fattah Khalil el-Sisi (Egypt) $185 Million
Abdel Fattah el-Sisi is a retired military officer and the sixth president of Egypt since 2014. He was born in 1954 in Cairo. After graduating from the Egyptian Military Academy, he proceeded to serve in the military for over 30 years.
In 2012, president Morsi appointed him as Minister of Defense. While serving in the Forces, he invested heavily in several businesses that became very successful. Apart from business investments, he has also made quite a lot of money from his salary as president.
12. Alassane Ouattara (Ivory Coast) $185 Million
Alassane Dramane Ouattara is an Ivorian politician whose political career began around 1990. He served as prime minister before becoming president of Ivory Coast in 2010. He was born in 1942 and acquired a bachelor’s degree in 1965 from Drexel University, Pennsylvania.
His pursuit of further studies saw him attain a master’s degree in 1967 and a PhD in economics from the University of Pennsylvania in 1972. Then, he went on to serve as an economist for the IMF in the US. He has investments in business in different sectors. Alassane Ouattara is among the richest presidents in Africa with a net worth of around $185 million.
13. Isaias Afwerki (Eritrea) $100 Million
Isaias Afwerki is the first president of Eritrea. He has been president since 1993 when Eritrea gained independence. Born in 1946, he attended college studies at the now Addis Ababa University before returning to Eritrea in 1966.
He joined liberation movements that culminated in the country’s independence. To date, the Eritrean president has made a fortune with investments and property in Eritrea and other countries.
