Resource industries rife in FORBES Africa’s 40 Richest list

IRJ – November 18 – Forbes unveiled its list of Africa’s richest individuals, Thursday, and plenty of the top 10 entrants stem from the natural resource industries.

The top spot is taken by Nigeria's Aliko Dangote, whose estimated US$10.1 billion fortune includes gas plant and pipeline infrastructure in addition to his major pan-African cement company, Dangote-Cement PLC.

In second place comes a name synonymous with diamonds, well-discussed in recent news coverage on the transaction whereby mining major Anglo American PLC will take full ownership of De Beers; Nicky Oppenheimer. Forbes estimates his family net worth at $6.5 billion.

At number five, with an estimated $4.3 billion, is Mike Adenuga; the man behind Conoil Producing. Conoil is famed for being the first firm to set up commercial oil production in Nigeria in the 1990s. It is now the nation’s largest oil exporter averaging approximately 100,000 barrels per day.

At number 10, Patrice Motsepe is already a household name within mining: Africa’s first black billionaire ($2.5 billion) is the man behind multi-project, multi-commodity group African Rainbow Minerals (ARM).

Other high ranking entries include (but are not limited to)
- Theophilus Danjuma, chairman of Nigerian exploration firm South Atlantic Petroleum (SAPETRO) at number 21 ($600 million)
- Oba Otudeko, of Nigeria, whose Honeywell Group (of which he is founder) works in the realms of many different industries including oil and gas. He ranks in at number 24 ($550 million)
- Mohammed Indimi, founder and chair of Nigerian explorer/producer Oriental Energy Resources; a group active in offshore Nigeria. He sits at number 30 ($330 million)

Forbes says that the decision to compile the list is "testament to the growing global importance of the continent."

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