Top 20 Richest Politicians in Africa

Top 20 Richest Politicians in Africa

Africa is home to some of the wealthiest politicians in the world, with fortunes amassed through various means, including business ventures, investments, and political positions. In this article, we’ll delve into the lives and careers of the top 20 richest politicians in Africa, exploring their sources of wealth, political influence, and impact on their respective countries.

1. Bola Tinubu

Bola Tinubu

Net worth: $8.4 billion 

The 16th and current president of Nigeria is Bola Ahmed Tinubu. He sits at number 1 on the list of the top 20 richest politicians in Africa. Born on March 29, 1952, he served as the senator for Lagos West and as governor of Lagos State from 1999 to 2007 in the Third Republic. 

As a seasoned businessman, Bola Ahmed Tinubu Ashiwaju has invested in several industries. Including media, real estate, telecommunications, and oil and gas. Thus showcasing his astute business sense. 

What’s more? He has created jobs and boosted the economy through his endeavors. Thus solidifying his reputation as a shrewd businessman.

2. Emmanuel Nnamdi Uba (Andy Ubah)

Emmanuel Nnamdi Uba (Andy Ubah)

Net worth: $6.9 billion 

Born on December 4, 1958, Andy Uba is the former senator and leader of the APC, who represented the Anambra South Senatorial District from 2011 to 2019. He successfully ran for governor of Anambra State in 2007 and was sworn into a turbulent administration rife with legal disputes and scandals.

Having been exposed to business from an early age, he made good use of it. So far, Uba has demonstrated his entrepreneurial drive by establishing profitable businesses in several sectors. Today, Emmanuel Nnamdi isn’t just a popular politician but a respected businessman.

3. General Ibrahim Babagida

General Ibrahim Babagida

Net worth: $5 billion 

A former head of state and general in the Nigerian army, Babangida is known by his initials, “IBB.” From August 27, 1985, until his resignation in August 1993, he controlled the Federal Republic of Nigeria. 

As a military dictator, he carried out economic reforms that stimulated a period of boom by opening up the nation’s markets and drawing in international investment. Furthermore, in business, Babangida did well by using his connections to launch profitable businesses in several industries.

Babangida has been charged with abusing his political position for personal benefit, similar to a lot of the politicians on this list. Although Babangida’s career demonstrated ambition and strategic insight, the controversy’s aftermath ultimately shed a complicated light on his story.

4. Orji Uzor Kalu

Orji Uzor Kalu

Net worth: $3.2 billion

Orji Uzor Kalu is a politician and businessman, born on April 21, 1960. Between 1999 and 2007, he led the Peoples Democratic Party and represented Abia State as its governor. 

Oriji began business with a $35 loan from his mother and then ventured into the transportation and furniture manufacturing industries. He was already a billionaire by the time he turned 20. In 2015, Forbes Magazine ranked him 49th on its list of Africa’s 50 Richest Net Worth. 

Moving forward, with holdings in manufacturing, finance, media, and oil and gas, he serves as chairman and CEO of the SLOK Holdings group. Today, he ranks third among the top 20 richest politicians in Africa.

5. Jimoh Ibrahim 

Jimoh Ibrahim

Net worth: $3 billion

Jimoh Ibrahim is a Nigerian businessman, philanthropist, politician, and attorney. He is the chairman and CEO of Global Fleet Group, a Nigerian conglomerate with a varied portfolio of businesses and operations in surrounding West African nations.

Jimoh was born in Ondo State, Nigeria, on February 24, 1967. He earned a Bachelor of Laws (LLB) from Obafemi Awolowo University in Ile Ife, Osun State, Nigeria, where he studied law.

Presently, Barr Jimoh Ibrahim holds the positions of GCEO for the NICON Group of Companies. He’s a member of the Board of Directors for Great Nigeria Insurance (GNI) PLC, and sub-chairman for GNI PLC’s Claim Payment & Finance.

6. Mohammad VI

Mohammad VI

Net worth: $2.1 billion

The King of Morocco, His Majesty the VI (God Grant Him Victory), is an absurdly wealthy man. He inherited an enormous financial empire that covered several industries and domains. They’re present not just in Morocco but in many other economies. 

He inherited a 35% share of Societe Nationale d’Investissement (SNI), the financial holding corporation, from his late father, King Hassan. Additionally, he owns shares in several publicly traded businesses through this corporation, including Attijariwafa, the biggest bank in Morocco.

Above all, the king owns stock in the sugar producer Consumer and the mining business Management Group. He also owns stock in Centrale Danone, a dairy company. Born on August 21, 1963, Mohammed VI takes the 6th spot among the top 20 richest politicians in Africa.

7. Olusegun Obasanjo

Olusegun Obasanjo

Net worth: $2 billion

The first democratically elected president of Nigeria during the Fourth Republic was Olusegun Obasanjo. Born on March 5, 1937, he’s a well-known statesman from Nigeria. 

Obasanjo was a key figure in the 1998 creation of the People’s Democratic Party (PDP), which became a powerful force in Nigerian politics for several years. His sources of income stems from commercial endeavors, book royalties, and his pension as a former political officer and being a former military officer.

According to reports, he has assets in industries such as energy, telecommunications, and agriculture. In addition to owning Otta Farms, one of the biggest poultry farms in West Africa, he’s involved in Nigeria’s oil production and distribution.

8. David Mark

David Mark

Net worth: $2 billion

David Mark was born on April 8, 1948 in Benue State, Nigeria. Mark, a well-known politician in Nigeria, has had an incredible career that has had a long-lasting effect on the country’s political climate. 

Before entering civilian politics and taking on positions like Minister of Defense and Minister of Communications, Mark started his career in the military. But it was his becoming the President of the Nigerian Senate that made an impression on people.

In addition to his nearly ten years as Senate President, he served as Communications Minister before the Nigerian Postal Service (NIPOST) and Nigerian Telecommunications Limited (NITEL) became extinct. These contributed to his enormous wealth, and that’s how he could make it onto our list. 

9. Ifeanyi Ubah

Ifeanyi Ubah

Net worth: $1.7 billion

With his lively and inventive personality, Ifeanyi Ubah is a wonderful figure who dabbled in several business ventures. Thus, he has created prosperous businesses that have bolstered the economy of his community and the nation by creating jobs. 

Ubah entered the political sphere to improve Nigeria. After successfully campaigning for the Senate on behalf of Anambra South, he was granted a seat in the Nigerian Senate. 

Also after winning his race for senator from Anambra South, he was granted a seat in the Nigerian Senate. Born on September 3rd, 1971, Ifeanyi takes his rightful place as one of the topmost politicians in Africa.

10. Rochas Okorocha

Rochas Okorocha

Net worth: $1.6 billion

Born on September 22, 1962, Rochas Okorocha serves as the senator for the Imo West senatorial district. In addition to being the former governor of Imo State, 

He entered politics in 1999 after democracy was restored. After gaining a significant following, he was invited to run for governor in the People’s Democratic Party’s (PDP) 2007 general election. 

Before the 2011 general election, Rochas became a member of the All Progressive Grand Alliance (APGA). He later joined the APC. In 2011, Rochas was chosen as the state’s governor and held office for two terms. 

What’s more? The bulk of Okorocha’s wealth is derived from his commercial ventures, which include real estate, agricultural, and oil and gas enterprises, as well as his political career. He’s also a shareholder in several Nigerian banks.

11. Atiku Abubakar

Atiku Abubakar

Net worth: $1.4 billion

Born on November 25, 1956, Atiku Abubakar is a politician and businessman from Nigeria. At the beginning of his career as a customs officer, he worked in the real estate industry.

From 1990, 1996, and 1998, he campaigned for governor of Adamawa State. He’s interested in real estate and cars. He held the position of vice president of Nigeria from 1999 to 2007, while Olusegun Obasanjo was president.

INTELS was the new name for his company, NICOTES. The American University of Nigeria (AUN) in Yola, Adamawa, was founded by him as well. It was established in 2005 as the American University of Nigeria (AUN) by Abubakar in Yola, the capital of Adamawa State.

12. Theophilus Danjuma

Theophilus Danjuma

Net worth: $1.1 billion

Theophilus Danjuma was born on December 9, 1938. He’s a former lieutenant general and politician from Nigeria. He was instrumental in the country’s post-independence military and political developments. 

From July 1975 to October 1978, the billionaire who was born in Taraba State served as the Chief of Army Staff. During President Olusegun Obasanjo’s presidency, he also served as Minister of Defense. 

Danjuma made his vast wealth from petroleum and shipping. Above all, he’s a philanthropist; the TY Danjuma Foundation was established in Nigeria in December 2008. The main goal of the Foundation is to conduct development activities that will yield long-lasting benefits.

13. Daisy Danjuma

Daisy Danjuma

Net worth: $900 million

Daisy Danjuma, a Nigerian politician and entrepreneur, is listed among the country’s wealthiest lawmakers. She has held positions in several public and commercial organizations. She’s Nigeria’s wealthiest female politician. Apart from her political endeavors, Danjuma has an esteemed history. 

She’s the spouse of renowned businessman and ex-military commander General Theophilus Danjuma. Daisy has investments in the oil and gas, real estate, telecommunications, and charitable sectors. 

Daisy Danjuma was a board member of several private and public companies. She was named chairperson of May & Baker Nigeria PLC, a prominent pharmaceutical manufacturing firm, in 2019 after serving as director of South Atlantic Petroleum (SAPETRO), a renowned petroleum company.

14. Ahmadu Adamu Mu’azu

Ahmadu Adamu Mu'azu

Net worth: $895 million

Nigerian politician Ahmadu Adamu Mu’azu led Bauchi State for two terms in 1999 and 2007. Born on July 11, 1955, he takes the 13th spot among the top 20 richest politicians in Africa. Under pressure from party officials, stakeholders, and fans, he resigned from his position as PDP chairman in 2015.

Mu’azu was employed as a quantity surveyor and project manager at Kano State’s Ministries of Health and Social Welfare, Youth, Sports, and Culture before entering politics. He was also the Bauchi State Investment and Property Development Company’s property manager. 

Before winning the state governorship in 1999, Mu’azu was a private-sector businessman from 1984 to 1989. Mu’azu’s financial success was also influenced by his investments and commercial endeavors. 

15. Dino Maleye

Dino Maleye

Net worth: $800 million

Following his election to the Kogi State House of Assembly in 2003, he launched his political career. Since then, he has been an outspoken opponent of the government’s adverse policies since being elected to the Nigerian Senate in 2015.

Melaye held memberships on several Senate committees throughout his tenure, including the Army, the Committee on Local and Foreign Debt, and the Committee on Petroleum Upstream. In the politics of Nigeria, he is still well-liked. 

His source of wealth is drawn from his political career, which includes his legislative pay, allowances, and perks. Further, Melaye dabbled in business, investing in the entertainment and real estate sectors, which has helped make him one of Nigeria’s wealthiest lawmakers.

16. Rotimi Amaechi

Rotimi Amaechi

Net worth: $780 million

A Nigerian politician, born May 27, 1965, Rotimi Amaechi previously served as governor of Rivers State. Amaechi’s power in Nigerian politics has kept expanding since he moved from the governorship to his current post as the Federal Minister of Transportation. 

Beyond his work in politics, Amaechi is into several business endeavors. He sits on the boards of directors of multiple companies, including Risonpalm Nigeria Ltd. and West Africa Glass Industries Limited. 

Also, with more than 25 properties thoughtfully placed in several locations, Rotimi Amaechi has one of the largest real estate portfolios, primarily concentrated in Lagos and Port Harcourt.

17. Uhuru Kenyatta

Uhuru Kenyatta

Net worth: $600 million

Uhuru Kenyatta was born in Nairobi on October 26, 1961. His mother, Mama Ngina, is the head of Sh142 billion, equivalent to $1.65 billion. His father, Jomo Kenyatta, was the first president of Kenya.

Driven by a desire to continue his father’s legacy, Kenyatta returned to Kenya after graduating from Massachusetts University with a degree in political science.

Uhuru, the youngest son of Mama Ngina, has played a significant role in overseeing the family’s fortune. He’s an important decision-maker in the banking, hospitality, and real estate industries.

The family is genuinely the number one richest in Kenya since they have enormous political clout; Mama Kenyatta is a political matriarch, and people are always more than eager to support her and her family.

18. Nyesome Wike

Nyesome Wike

Net worth: $580 million

Nyesom Ezenwo Wike CON is a politician and attorney from Nigeria who was born on December 13, 1967. He was the governor of Rivers State from 2015 to 2023 and is currently the Minister for the Federal Capital Territory.

He’s from Umuepirikom in Obio-Akpor, Rivers State, and is an Igbo-Ikwerre. Having received his education from the Rivers State University of Science and Technology he’s a member of the People’s Democratic Party. 

His pay and benefits as a public worker, including his tenure as a governor and minister, are his known sources of income. Thus ranking him 18th among the top 20 richest politicians in Africa.

19. Raila Odinga

Raila Odinga

Net worth: $500 million

Kenya’s former president is Raila Odinga. He’s among the top 20 richest politicians in Africa, with a net worth of USD 500 million. He has a front-row seat in the management of Kenya’s administrations thanks to his political clout; in fact, he’s among the most enduring individuals in Kenyan politics. 

Naturally, this power has made him wealthy; individuals looking to progress in their political careers frequently seek his advice. Like a boss, Raila makes all the decisions. 

Despite their assurances that he wouldn’t infiltrate the current administration, he published an image of himself with the president. Thus demonstrating that he remains the preferred choice for lobbyists and lesser-known lawmakers. The oil and gas, manufacturing, logistics, and real estate are among Raila Odinga’s interests.

20. Cyril Ramphosa

Cyril Ramphosa

Net worth: $500 million

Ramaphosa, born in South Africa on November 17, 1952, showed an early interest in politics. He joined the African National Congress (ANC) at 19 and grew close to the late Nelson Mandela. 

In the early 1990s, Ramaphosa was a key player in the nation’s shift from apartheid to democracy. Ramaphosa had a prosperous career as a business entrepreneur before going into politics. 

He dabbled in several industries, including mining and investing, starting his own mining business and then an investment firm. His ascent to significant financial success was facilitated by his astute business sense and strategic decision-making.

Wrapping Up 

The top 20 richest politicians in Africa listed above represent a diverse range of countries and political ideologies. While some have accumulated wealth through legitimate means, others have faced accusations of corruption and mismanagement. The role of these politicians in shaping the continent’s future remains a topic of debate and discussion. For more information, you can check out top richest politicians in Nigeria.

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