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Africa, the world’s fastest growing emerging market, is now home to 55 billionaires, with average net worth of $2.6bn. The price of oil topped $100 a barrel this year, up from $20 a barrel in early 2000, creating a new crop of African billionaires.

These super rich are worth a combined total of $143.88bn (£89.27bn).
The new study, undertaken by African business magazine and news service Ventures Africa, is the most extensive list ever compiled; claims founder Chi-Chi Okonjo. It reveals the “true wealth” of Africa’s richest people.

Aliko Dangote- The richest man in Africa is cement, sugar and flour tycoon. The Nigerian is worth $20.2bn. This figure is slightly up on Forbes’ estimation of $16.1bn for his wealth as of March this year.

Allan Gray- In second place, South African financier; holds assets worth at least $8.5bn.

Mike Adenuga- A Nigerian with operations in the oil and telecoms industries, has an estimated fortune of $8bn. His major investment is in Globacom , Nigeria ‘s second national carrier, Conoil which plays in both the downstream and upstrem petroleum industry.

Folorunsho Alakija- Africa’s wealthiest woman, Nigerian oil tycoon is worth $7.3bn. She is the owner of Famfa oil, which sold 40 percent of its oil block to Chevron recently.

Mr Jim Ovia- Founder and first managing director of Zenith Bank, one of Nigeria's leading financial institutions, also made the list with net worth of $1.5 billion. He is chairman of Nigeria's fledging telecommunications company, Visafone.

Aziz Akhannouch- Morocco, $1.39 billion.

Jide Omokore- Nigeria, $1.32 billion. His an oil and gas tycoon and own a fledging petroleum dealing firm called Spog Petroleum and Gas.

Bode Akindele-  Nigeria, $1.19 billion.

The median age of Africa ’s billionaires stands at 65 years old, with the youngest billionaires both at 38. These young guns are Tanzanian Mohammed Dewji, head of the largest textile manufacturer in sub-Saharan Africa , and Nigerian oil trader Igho Sanomi.

The oldest billionaires are Manu Chandaria, a Kenyan industrialist, and Mohammed Al-Fayed, the Egyptian property tycoon and Harrods boss, who are both 84.

Nigeria, South Africa and Egypt have the most billionaires with 20, nine and eight respectively. In total 10 African countries are represented on the list.



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