Top 15 Wealthiest African Presidents
King Mohammed VI was born into the current Moroccan royal family which belongs to the the Alaouite dynasty on 21 August 1963 in Rabat, Morocco. He is the current King and leader of Morocco, a position he inherited as a result of the death of his father in 1999. King Mohammed VI is an established business tycoon and banker. He invests in a myriad of ventures such as banking, mining, tourism, real estate, telecommunications, and cement manufacturing. King Mohammed VI and his family hold the majority stakes in the Société Nationale d’Investissement (SNI), a colossal food conglomerate company with numerous important businesses in the North African country.
2. Ali Bongo Ondimba (Gabon) – $1 billion
Following the death of his father (who had been President of Gabon for 41 years) in 2009, Ali Bongo, who occupied ministerial positions during his father’s tenure of office was elected as President. Due to the political background of his family, Ali Bongo amassed great wealth. His family has ownership over both oil in central Africa (which his family has been accused of looting) and numerous private properties and assets across Gabon and Europe.
3. Teodoro Obiang Nguema Mbasogo (Equatorial Guinea) – $600 million
Teodoro Obiang Nguema Mbasogo has been the political leader of Equatorial Guinea for 77 long years. His tenure of office begun in 1979 after succeeding in a military coup he organized against his uncle who was in power at the time. Teodoro Obiang is the second-longest serving democratic leader. The President’s source of wealth has been linked to massive corruption and abuse of power by him and his family members. In spite of the impoverished state of his country, the president owns properties and supercars in his home country and France. He also and runs several businesses both locally and in foreign countries. His family is also reported to have family has secret offshore accounts, luxury goods stacked in mansions in America and Europe.
5. Paul Kagame (Rwanda) – $500 million
Paul Kagame is a former military leader who fought against Yoweri Museveni’s rebel army in the 1980s. Paul Kagame served as Minister of Defence and as Vice President before winning the 2007 election with 99% of the votes cast. The Kagame family owns a holding company called Crystal Ventures which owns assets estimated to be over $500 million including a $50 million Bombardier Global Express private jet. This is a giant portion of the country’s economy. President Kagame also has numerous investments in almost all major sectors in his country.
6. Cyril Ramaphosa (South Africa) – $450 million
Cyril Ramaphosa replaced Jacob Zuma as president of South Africa after his resignation in 2018. Ramphosa is a former anti-apartheid activist, trade union leader, and businessman and entrepreneur who has been hailed greatly for his slick negotiating skills and strategic planning abilities. Cyril Ramaphosa has numerous investments and properties throughout South Africa. He was also a shareholder in influential companies McDonald’s South Africa. He was also major shareholder in MTN. President Ramphosa also had interests in Lonmin, a British producer of platinum group metals which has its dealings in the Bushveld Complex of South Africa.
7. King Mswati III (Swaziland) – $200 million
Born Makhosetive Dlamini, he became the youngest ruling monarch after his crowning at the age of 18 in the year 1986. He then took the name King Mswati III and also married the first of several wives during his coronation ceremony on 25 April 1986. King Mswati III has 15 wives and 23 children. Apart his polygamous lifestyle, the Swaziland ruler characterized by his flashy lifestyle. He owns luxurious items, including supercars and expensive jewellery. In addition to his thriving businesses, he owns numerous palaces and properties across throughout Swaziland.
8. Paul Biya (Cameroon) – $200 million
Paul Biya has been the President of Cameroon since 6 November, 1982. In order to selfishly hold on to power, he passed a bill in 2008 allowing him to rule for another term. This abuse of power greatly infuriated Cameroonians, leading civil unrest and mass protests in the country. The stiff-necked President did not heed to clamoring of his people, but went on to hog the political power. After ruling for about 38 years, he has controlled the country’s economy in a manner which suits him best whilst simultaneously amassing great wealth for himself through reportedly illegal means. The Biya family has businesses and large shares in huge profitable companies that deal with oil, insurance, timber, banking, construction, transport, and mobile telephony.
9. Abdel Fattah Khalil el-Sisi (Egypt) – $185 million
The Egyptian President, Abdel Fattah Saeed Hussein Khalil el-Sisi was born on 19 November, 1954. Prior to his election into office, he worked as a mechanized infantry commander and then as director of military intelligence. He was also the Minister of Defence under the Morsi government, following the 2011 Egyptian revolution. El-Sisi has gathered great wealth for himself over the years through business and politics. He owns a number of investment companies. He also has dealings in different sectors in North Africa and some parts of the Middle East.
10. Isaias Afwerki (Eritrea) – $100 million
Eritrea is a country located on the horn of Africa. The aforementioned country gained independence in 1993, much later than other African countries. Since independence, Isaias Afwerki has been the only President to rule in Eritrea. During the quest for feedom and independence, President Afwerki was one of the rulers who fought for his country in the Eritrean War of independence which spanned for a period of three decades. His presidency is characterized by his oppressive ruling style and silencing of the media. Due to his blatant abuse of political power and national resources, Isaias Afwerki is one of the wealthiest African Presidents. According to sources, he has several secret Swiss bank accounts, properties, numerous investments in both Eritrea and other foreign countries.
11. Muhammadu Buhari (Nigeria) – $80 million
Former Military General of the Nigerian Army, Muhammadu Buhari was elected as the 15th President of Nigeria in 2015. Prior to his election, he conquered power in a military coup d ‘état and became military head of state from 1983 to 1985. Although Nigerians had hope that his administration will bring a positive change to their country, it has contrarily been however been tainted with gross allegations and instances of corruption unfavorable policies. The source of President Buhari’s immense wealth is believed to be the several businesses that his family runs.
12. Peter Mutharika (Malawi) –
$55 million
Peter Mutharika is a global expert in international economic law, international law, and comparative constitutional law. In the year 2012, his brother Bingu Wa Mutharika, who was president at the time, passed on after suffering from a heart attack. In 2014, Peter Mutharika was elected as President. It is however alleged that the the elections were rigged. The Mutharika family is an aristocratic elite Malawian family. This background has given him the opportunity to nurture his business interests and other investments of his. It is believed that, ventures such as farming, his career in law, and inheritance have contributed to his great wealth.
13. Idriss Déby (Chad) – $50 million
Since 1990, Idriss Déby has ruled as the President of Chad. The 67-year-old Chadian politician took captured power in December 1990 by means of an insurrection against President Hissène Habré, who was president at the time. Every single resistance movement against him ever since his presidency has been rendered futile. He is one of the richest heads of state in Africa. Idriss Déby has also held on to power by abolishing the term limits of presidency in Chad. The former military personnel has become notably wealthy through his abuse of power which enabled him to and expand his business empire. He has colossal amounts of oil wealth and properties, ranging from buildings to expensive luxurious goods.
14. Yoweri Museveni (Uganda) – $50 million
On the back of a rebellion against Idi Amin and Milton Obote, Yoweri Museveni has been President of Uganda ever since 1996. Initially, he was democratically elected in the 1996 elections. However, the thirst for power has allegedly caused him to rig subsequent elections, thus ensuring his presidential victory. He is known for dealing critics andividuals who oppose the government. The Ugandan President has gained wealth over the years by investing in different sectors, including in the agricultural sector of his country. Such are the agricultural, construction, food processing, and energy industries.
15. Pierre Nkurunzinza (Burundi) – $45 million
Pierre Nkurunzinza, a 55-year-old man known for his tyrannical dealings has led Burundi as President since the year 2005. This selfish control of power has caused him to refuse to give another person the opportunity to be President. President Nkurunzinza has been accused of heinous acts including the instigation of massacres and the abuse of individuals who oppose him and his cruel governance. Pierre relentlessly amasses wealth for himself, regardless of the impoverished state of his country. He has several successful companies with interests in agriculture and other sectors in Burundi.
