In the latest 2022 Forbes list of Africa’s richest people, Aliko Dangote topped once again for the 11th year in a row. The cement entrepreneur had his fortune increase by around $1.8bn to $13.9bn this year, Johann Rupert, the South African owner of Swiss luxury goods conglomerate Richemont, came second with wealth estimated at $11bn, while Nicky Oppenheimer, the South African DeBeers scion who sold his stake to Anglo American in 2012 and now has interests in aviation and conservation came third at $8.7bn worth.

The collective net worth of the 18 African billionaires listed by Forbes rose 15% to $84.9bn, a sign that Africa’s economy could be on a recovery path following the devastating effects of the COVID-19. According to Forbes, Dangote’s wealth mushroomed after a 30% increase in the share price of Dangote Cement, underpinned by housebuilding and government infrastructure projects in Nigeria. Meanwhile, Zimbabwean telecoms tycoon Strive Masiyiwa recorded the largest wealth boost on this year’s list after shares in his Econet Wireless spiked by 750% in the year.

There are no new names or women that appeared on the list as all of this year’s billionaires are men and have been listed before. The oldest is 89-year-old Moroccan Othman Benjelloun, CEO of BMCE Bank of Africa, while the youngest is Tanzania’s 46-year old Mohammed Dewji, CEO of textiles and food conglomerate METL. It is worth noting that Dewji’s fortune fell by an estimated $100m to $1.5bn this year.

The list was confined to African entrepreneurs who reside on the continent or have their primary business there, which excludes the UK-based likes of Sudanese billionaire Mo Ibrahim and Egyptian tycoon Mohamed Al-Fayed.

Here is the full list: