Aliko Dangote, the Nigerian industrial magnate and chairman of the Dangote Group, has regained his title as Africa’s richest man, overtaking South African billionaire Johan Rupert. 

According to the latest Forbes data, Dangote’s wealth currently stands at $11.7 billion, narrowly surpassing Rupert’s net worth, which has declined to $10.8 billion.

Aliko Dangote’s resurgence marks the end of a brief hiatus, as he regains his position as Africa’s richest person, restoring his 12-year reign at the top. This follows a temporary shift in August 2024, when Johan Rupert briefly claimed the title, only for Dangote to reclaim his spot as the continent’s wealthiest individual

The Bloomberg Billionaires Index also corroborates this trend, placing Dangote’s fortune at $13.3 billion, marginally ahead of Rupert’s $13.2 billion.

This slight difference, though not as significant as earlier valuations, reaffirms Dangote’s lead. Just two weeks ago, the gap between the two tycoons’ net worth was reported to be approximately $1 billion, with Rupert momentarily holding the top spot. 

Rupert, the founder and chairman of the Swiss luxury goods company Richemont, which owns brands such as Cartier and Montblanc, experienced a decline in his wealth following fluctuations in luxury market demand and currency pressures.

Meanwhile, Dangote’s financial standing has remained relatively stable, allowing him to reclaim his position as Africa’s wealthiest figure.

Dangote’s Blueprint For Growth

Aliko Dangote, a titan of industry and paragon of entrepreneurial excellence, continues to push the boundaries of success. The Dangote Group, a behemoth conglomerate with a diverse portfolio spanning cement, sugar, salt, and oil refining, is poised for even greater heights, driven by Dangote’s insatiable appetite for growth and innovation.

During a recent media tour of the Dangote Refinery, billionaire Aliko Dangote unveiled an ambitious plan to boost the group’s revenues to a staggering $30 billion by 2025, further solidifying the conglomerate’s position as a dominant force in Africa’s industrial landscape.

Central to this strategy is a significant shift in the group’s foreign exchange (FX) operations.

Dangote aims for the conglomerate to become Africa’s largest provider of foreign exchange and to reduce dependence on the Central Bank of Nigeria (CBN) for FX sourcing.

This move would not only bolster the group’s resilience but also enhance its competitiveness on the global stage.

Dangote further revealed plans to dramatically reduce the group’s reliance on the Nigerian cement market, which currently accounts for 75% of its business, down to 15%. Additionally, he projected a diversification of revenue sources, with 50% of EBITDA expected to come from foreign markets. 

He also emphasized that 90% of the group’s future revenue would be generated in hard currency, underlining its focus on international expansion and export-driven growth.