Founder and chairman of BUA Group, Abdul Samad Rabiu, has become Africa’s second-richest individual after his net worth rose to $18.6bn, according to the Bloomberg Billionaires Index.
The latest ranking placed Rabiu 138th globally, with his fortune increasing by about $8.47bn this year, driven by gains across his cement, food and manufacturing businesses.
South African billionaire Johann Rupert dropped to third place in Africa after his net worth declined to $17.9bn, placing him 153rd globally.
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Africa’s richest man, Aliko Dangote, retained the top position on the continent with an estimated net worth of $34.4bn, ranking 66th in the world.
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