Top 10 Richest Presidents In Africa 2022
Top 10 Richest Presidents In Africa – 2022 Review
Because Africa is leading in natural resources for development Many African presidents are wealthy. Long-term serving presidents are especially rich because the power they have has enabled them to have better shots at investments compared to the average citizen. The richest presidents in Africa attribute their wealth to inheritances, businesses, and countries’ resources.
Here are the Top 10 Richest Presidents In Africa – 2022 Review ;
1. King Mohammed VI (Morocco) – Net worth $5.8 billion
King Mohammed VI was born on 21 August 1963 in Rabat, Morocco. He is the current leader of Morocco, a position he took after the passing of his father in 1999. Mohammed VI is a member of the Alaouite dynasty, the present Moroccan royal family.
This Africa’s richest monarch is an established businessman and banker. His investments range from banking, mining, tourism, real estate, telecommunications, and cement manufacturing. King Mohammed VI and his family hold the majority stakes in the Société Nationale d’Investissement (SNI). The SNI is a large food conglomerate company with many important businesses in the North African country.
2. Ali Bongo Ondimba (Gabon) – Net Worth $1 billion
Ali Bongo was elected as the president of Gabon upon his father’s death in 2009. His father Omar Bongo had been president for 41 years. Ali was a minister in his father’s government and held other senior positions in-state entities. He grew in wealth thanks to the properties his father accumulated while in power.
His family is accused of looting the oil-rich central African country. Bongo’s family have assets all over Gabon and Europe. Their oil wealth and private property make Ali one of the richest African president in Gabon.
3. Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) – Net worth $600 million
Teodoro Obiang Nguema Mbasogo has been the president of Equatorial Guinea since 1979. The 77-year-old longtime politician ascended to the top seat by ousting his uncle in a 1979 military coup. Teodoro Obiang is the second-longest consecutively serving leader who holds a non-monarchical post.
The Equatorial Guinea president’s source of wealth has been linked to massive corruption and abuse of power by him and his family members. The 77-year-old president owns properties and supercars in his home country and France and runs several businesses in different countries. The Obiang family has secret offshore accounts, luxury goods stacked in mansions in America and Europe, and local investments.
4. Uhuru Kenyatta (Kenya) – Net worth$500 million
Uhuru Muigai Kenyatta is the fourth president of Kenya having been elected in 2013. The 61-year-old is the son of the first president of Kenya and the richest president in East Africa. The fourth president had been serving as a longtime member of parliament before being elected. Uhuru Kenyatta’s family is one of the richest in the country.
The Kenyatta family has interests in dairy farming, real estate, banking, hospitality, and media. Some of the business entities Kenyatta and his family own include Brookside Dairies, Heritage Group of Hotels, Great Rift Valley Lodge and Golf Resort, Kipungani Explorer, Mara Explorer, Commercial bank of Africa, and media houses.
5. Paul Kagame (Rwanda) – Net Worth $500 million
Paul Kagame has been the president of Rwanda since 2000. The fourth president of Rwanda is a former military leader having fought in Yoweri Museveni’s rebel army in the 1980s and being a commander in the Rwandan Patriotic Front, Kagame was vice president and Minister of Defence before becoming the president. He won in the 2007 election with 99% of the votes cast.
Paul Kagame has investments in almost all major sectors in his country. The Kagame family controls a huge portion of the Rwandan economy through a holding company called Crystal Ventures. The company owns assets that have a book value of more than $500 million. This includes a $50 million Bombardier Global Express private jet.
6. Cyril Ramaphosa (South Africa) – Net worth $450 million
Cyril Ramaphosa is the fifth and current president of South Africa. Ramaphosa became the president after former president Jacob Zuma resigned in 2018. The former anti-apartheid activist, trade union leader, and businessman has been praised for his able negotiating abilities and strategic planning. His entrepreneurial skills are recognized thanks to the many investments he has all over the country.
Cyril Ramaphosa has tens of properties and previously-held important ownership in big companies like McDonald’s South Africa. He was at some point chair and major shareholder in MTN. He has had interests in Lonmin, a British producer of platinum group metals operating in the Bushveld Complex of South Africa.
7. King Mswati III (Swaziland) – Net Worth $200 million
Born on 19 April 1968, King Mswati III has been the leader in Swaziland since 1986. Born Makhosetive Dlamini, the Swaziland leader took the name King Mswati III and also married the first of several wives during his coronation ceremony on 25 April 1986. Mswati III became the youngest ruling monarch after his crowning, having been only 18 years old.
The Swazi king has 15 wives and 23 children. Other than his polygamous lifestyle, the Swaziland ruler is known for living large. He owns luxurious items, including supercars and expensive jewellery. He owns several palaces and properties across the country. He also runs successful businesses.
8. Paul Biya (Cameroon) – Net Worth $200 million
Paul Biya is the current president of Cameroon, a position he has held since 6 November 1982. Paul Biya passed a bill allowing him to add another term in power in 2008. This caused civil unrest in the country as Cameroonians protested his unconstitutional move. The demonstrations, however, did not stop him as he has maintained his stay in power.
His over 38 years at the helm have seen him control the country’s economic curve while still increase his wealth. A significant share of his wealth has been described as illegally acquired. Paul Biya and his family have businesses and significant shares in big companies that deal with oil, insurance, timber, banking, construction, transport, and mobile telephony.
9. Abdel Fattah Khalil el-Sisi (Egypt) – Net Worth $185 million
Born Abdel Fattah Saeed Hussein Khalil el-Sisi on 19 November 1954, the Egyptian president previously served as a mechanized infantry commander and then as director of military intelligence. He also served as the Minister of Defence under the Morsi government after the 2011 Egyptian revolution.
El-Sisi is a long-term politician and businessman who has managed to build a fortress of wealth through the years. He runs several investment companies and has significant interests in different sectors in North Africa and some parts of the Middle East.
10. Isaias Afwerki (Eritrea) – Net Worth $100 million
Isaias Afwerki is the first and only president Eritrea has had since the country gained independence in 1993. He was among the leaders who helped the horn of Africa nation get the freedom by fighting in the Eritrean War of independence that lasted for three decades.
His presidency is laced with his draconian style of ruling and gagging of the media. Isaias Afwerki is among the wealthiest presidents of Africa. He is known to have hundreds of secret Swiss bank accounts, properties, and several investments in Eritrea and other countries. His misuse of resources in the country and abuse of power has contributed to his wealth.
Further Reading >>Top 10 Richest Companies In Africa
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