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RankingThese are Africa’s super-rich

In January 2020, Forbes compiled a list of the richest people in Africa. The business magazine found dollar billionaires in just eight of the continent’s 54 countries. However, that was twice as many states as in 2011.

According to Forbes, this is what the ranking of African countries with the super-rich looked like in early 2020:

  • 1 Egypt and South Africa: five billionaires each
  • 3 Nigeria: four
  • 4 Morocco: two
  • 8 Algeria, Angola, Tanzania, Zimbabwe: one each

Africa’s super rich and the corona crisis

But even in Africa, being a billionaire in Corona times is not set in stone. In mid-March 2020, “Forbes” had 226 fewer billionaires worldwide than just twelve days earlier. We therefore prefer to stick to the annual billionaires list of the business magazine when ranking the richest people in Africa. The former apartheid stronghold of South Africa only had four billionaires on it. Nigeria had gained a super-rich for this, and the same was true for Egypt. In general, the top 10 seem to show: Africa’s richest billionaires seem to have come through the initial phase of the corona crisis quite well.

The “Forbes” ranking basically has a catch: the estimated wealth is converted into US dollars. In this way, fluctuating exchange rates can suddenly destroy or create assets. Currency fluctuations are also dangerous to the super-rich in other respects. Zimbabwe banned all foreign currencies and introduced a new dollar in the summer of 2019. According to Forbes, the ensuing inflation caused the country’s only billionaire, Strive Masiyiwa, to lose half of his fortune in one blow. He was just on the list at $ 1.1 billion.

According to Forbes, these are the richest dollar billionaires in Africa

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