File Photo: Rwanda’s President Paul Kagame Reuters/Michaela Rehle
By The African Exponent
When someone hears “African leaders”, the one impression that comes to their mind is corruption. Bribery and corruption have been a consistent practice of most African leaders with a history of fraudulent scandals – there are plenty of them and it doesn’t seem to be reducing.
But is it accurate to say all African leaders are corrupt? It is true that most African presidents made most of their wealth during their reign as leaders and made sure it stayed with them and their families, but a few have diligently worked and earned their affluence and business influences.
Some African presidents have proven wealth by dedicated work and resilient personalities to succeed. Here is the list of the top ten richest presidents in Africa 2022.
10. Abdel Fattah Khalil el-Sisi (Egypt) – $185 Million
Abdel Fattah has an estimated net worth of 185 million dollars. He served in the army before becoming the president of Egypt in 2014. Abdel Fattah retired from the military in 2014 to pursue his interest in politics, he then became the head of state. Besides earning financially from his military career and current position as president, he owns several investment firms that operate in North Africa and overseas. From 2019 to 2020, he also served as a chairperson of the African Union.
The 6th president of Egypt was ranked 45th under Forbes most powerful people 2018. His business influence attracted many foreign investors to the country when he was elected president.
9. Paul Biya (Cameroon) – $200 Million
Paul Barthelemy Biya’a bi Mvondo is a long-reigning president in Cameroon. He has been the head of state since November 6, 1982, and has an estimated net worth of 200 million dollars. During his almost 40 years of tenure, he has accumulated lots of wealth, however, there have been a series of allegations that part of his wealth is through unscrupulous means. Paul and his family own and manage many businesses and companies in the sectors of timber, oil, banking, transportation and construction.
8. Nana Akufo-Addo (Ghana) – $250 Million
Nana Akufo-Addo is the 5th president of Ghana and has an estimated net worth of 250 million dollars. He was elected head of state in early January 2017 and then reelected for his second tenure in 2020. After his legal education, he worked at the Paris office of the American law firm, Coudert Brothers. Later on, he founded his law firm Akufo-Addo, Prempeh and Co. He’s also a political activist and owns multiple businesses.
7. Patrice Talon (Benin) – $400 Million
Patrice Talon is a Beninese President and business tycoon who became president of Benin on April 6, 2016. In 2015, Forbes ranked Patrice as the 15th wealthiest sub-Saharan African with an estimated net worth of 400 million dollars. At this time, he wasn’t a president yet, which proves his wealth is genuine and not from political reign. He made his wealth from managing multiple businesses in the cotton sector and the Cotonou port, a very business-oriented environment.
6. Cyril Ramaphosa (South Africa) – $450 Million
The South African current president, Cyril Ramaphosa, has a net worth of 450 million dollars. It is said that he earns a monthly salary of $198,742; he became the president in 2018 after the previous president resigned. He is a trade union leader, entrepreneur and former anti-apartheid activist. In 2014, he left behind his business career for politics. Despite that, he has still made lots of money from his business investment. In May 2018, he resigned from the Shanduka group, an Investment firm he founded, as the chairman. He sold his stake in the firm later on.
5. Paul Kagame (Rwanda) – $500 Million
Paul Kagame is Rwanda’s fourth president and has been ruling since March 2000. Before his presidential role, he was the vice president and minister of defence in Rwanda. He has been a politician for over 30 years and has made impressive wealth from his political career. Paul Kagame has made investments in almost all sectors of Rwanda’s economy and his family owns and manages Crystal Ventures, a company with assets valued at almost one billion dollars.
4. Uhuru Muigai Kenyatta (Kenya) – $500 Million
When Uhuru kenyatta may not be the richest president in Africa, he is arguably the richest East African head of state with an estimated net worth of 500 million dollars. His father, Jomo Kenyatta, was Kenya’s first president. The Kenyatta family owns and manages various businesses including Heritage Group of Hotels, Mediamax Group, Timsales Holdings, NCBA Group PLC, Peponi School and Brookside Dairies.
3. Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) – $600 Million
Teodoro Obiang is one of the longest-serving presidents in Africa, in 1979 he became Guinea’s head of state. The leader has since been accused of massive corruption and abuse of power. He and his family own properties and investments worth multi-millions in the country and overseas. He also runs many businesses and earns a huge amount of money as a salary for being president.
2. Ali Bongo Ondimba (Gabon) – $1 Billion
Ali Bongo Ondimba ranks second on the list of the richest presidents in Africa 2022. He became the president of Gabon in 2009 after his father died. During his father’s reign, he was a senior governor and besides his political affluence, Ali Bongo inherited a lot of wealth from his family.
1. King Mohammed VI (Morocco) – $5.7 Billion
King Mohammed VI is the richest president in Africa with an estimated net worth of 5.7 billion dollars. He took over the monarchical rule of Morocco after the demise of his father in 1999. As a member of the Alaouite Dynasty, the present Moroccan royal family, he has made humongous wealth from inheritance, presidential salary and vast business investments.
He holds business investments in cement manufacturing, real estate, telecommunications, tourism and banking. His family owns Société Nationale Investment (SNL), a large food company with many big businesses in North African countries.
The above list of the top 10 richest presidents in Africa 2022, shows that not all African leaders are corrupt or made their wealth with the influence of politics. Some have worked hard to get to where they are today and they deserve some accolades for their hard work and honesty. Africans can be rich too!