Aliko Dangote, president of Dangote industries has retained his position as the richest man in Africa with a net worth of $12.2billion, according to Forbes.
This is an increase of $100 million from his worth when the assessment was done by the influential magazine last year.
Dangote is the continental richest for the seventh year in a row.
Bill Gates is the richest in the world with a net worth of $86 billion followed by Warren Buffet ($75.6b) and Jeff Bezos ($72.8 billion).
Following after Dangote in the African rich list is diamond mining heir Nicky Oppenheimer of South Africa ($7.7 billion) up $700 million last year.
Boosting the South African ranks this year are newcomer Michiel Le Roux,($1.2 billion) South African mining tycoon Desmond Sacco, chairman of listed Assore Group (1.4 billion)
Forbes said: “Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery. Dangote Fertiliser is expected to start operations in the second quarter this year.”
Dangote is also the only African selected among Bloomberg’s world 50 best persons in 2017.