Forbes Magazine has unveiled the list of the 10 youngest billionaires in Africa for 2023, proving that these exceptional individuals have shattered age constraints and redefined the very notion of youthful success on the continent.
These dynamic young billionaires are challenging the traditional stereotype that associates extreme wealth with advanced age, as their journeys to fortune are nothing short of remarkable. Their success stories exemplify achievement, ambition, and an incredible global impact that transcends age boundaries.
These billionaires have amassed their wealth through diverse business ventures, spanning industries such as mining, construction, telecommunications, and oil. While the term “young billionaire” may appear paradoxical, these individuals are substantially younger than the average billionaire, underscoring their exceptional accomplishments.
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Meet Africa’s Top 10 Youngest Billionaires for 2023
1. Mohammed Dewji – Africa’s Youngest Billionaire (Overall Rank: 13th)
Age: 48
Net Worth: $1.5 billion
Mohammed Dewji, CEO of MeTL Group, a multi-billion-dollar conglomerate with interests in agriculture, manufacturing, and logistics. Dewji is also recognized for his philanthropic and social enterprise endeavors.
2. Patrice Motsepe (Overall Rank: 9th)
Age: 61
Net Worth: $3.2 billion
Patrice Motsepe serves as the chairman of African Rainbow Minerals, a mining company specializing in gold, platinum, and iron ore. He has primarily accrued his fortune through the mining business and is known for his philanthropy and investments in various sectors.
3. Nassef Sawiris (Overall Rank: 5th)
Age: 62
Net Worth: $7.3 billion
A pioneer in the construction industry, Nassef Sawiris owns one of the largest construction enterprises in the Middle East and North Africa. His investments across diverse industries highlight his financial acumen and wealth diversification.
4. Strive Masiyiwa (Overall Rank: 12th)
Age: 62
Net Worth: $1.9 billion
Strive Masiyiwa is the chairman of Econet Group, a telecommunications firm with a significant presence in multiple African countries. He is both a philanthropist and a social enterprise investor.
5. Aziz Akhannouch (Overall Rank: 13th)
Age: 62
Net Worth: $1.5 billion
As the CEO of Akwa Group, Aziz Akhannouch presides over a multi-billion-dollar conglomerate with interests in petroleum, gas, and renewable energy. His philanthropic activities and economic ventures have cemented his prominence in the Moroccan economy.
6. Yasseen Mansour (Overall Rank: 18th)
Age: 62
Net Worth: $1.1 billion
Yasseen Mansour chairs the Mansour Group, a conglomerate involved in retail, automotive, and consumer product operations. He is an active philanthropist and an investor in various businesses.
7. Abdulsamad Rabiu (Overall Rank: 4th)
Age: 63
Net Worth: $7.6 billion
Hailing from Nigeria, Abdulsamad Rabiu leads the BUA Group, a conglomerate with interests in cement, sugar, and real estate. He is also known for his philanthropic activities and business investments.
8. Aliko Dangote (Overall Rank: 1st)
Age: 66
Net Worth: $13.5 billion
Aliko Dangote secures the top spot on Africa’s billionaires list. Despite his age, he ranks as the eighth youngest billionaire in Africa, with significant holdings in the Dangote Group, a conglomerate specializing in cement, sugar, and flour. Dangote stands as Africa’s richest individual and one of the world’s wealthiest people.
9. Naguib Sawiris (Overall Rank: 8th)
Age: 69
Net Worth: $3.3 billion
Naguib Sawiris, a member of the influential Sawiris family, oversees Orascom, a company with operations across several nations. His philanthropy and investments in various ventures further bolster his status.
10. Mike Adenuga (Overall Rank: 6th)
Age: 70
Net Worth: $6.3 billion
Mike Adenuga chairs Globacom, a telecommunications company with a significant presence in the African market. In addition to his business ventures, Adenuga is a noted philanthropist and entrepreneur, celebrated for his boundless energy and vision.
These young billionaires continue to make a profound mark on Africa’s economic landscape and the global stage, emphasizing that age is no barrier to extraordinary success. Their stories inspire a new generation of entrepreneurs and highlight the immense potential for African business leaders in the years to come.
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Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple's Bite International Magazine.