According to Forbes, for the ninth year in a row, Aliko Dangote of Nigeria is the wealthiest person in Africa, with an estimated net worth of $10.1billion.

In Forbes latest ranking, Dangote’s present worth is down from his estimate of $10.3 billion a year ago which is probably attributable to a slightly lower stock price for his Dangote Cement flagship company.

Dangote is the founder and chairman of  Dangote Cement, the continent’s largest cement producer. He owns nearly 85% of publicly-traded Dangote Cement. He also owns stakes in publicly-traded salt, sugar and flour manufacturing companies.

South Africa and Egypt have the most billionaires in the continent with a total of five each. Nigeria comes next with four billionaires.

Nassef Sawiris of Egypt is the new number two richest, worth $8 billion, up from $6.3 billion last year. Sawiris’ most valuable asset is a stake in shoemaker Adidas worth a recent $4 billion. The increase in Adidas’ share price alone added nearly $1.5 billion to his fortune since January 2019.

Number three on the list is Nigeria’s Mike Adenuga, worth $7.7 billion. He owns mobile phone network, GloMobile as well as oil producer Conoil and extensive real estate holdings.

Just two of the 20 billionaires are women: Isabel dos Santos, the eldest daughter of Angola’s former president, Jose Eduardo dos Santos and Folorunsho Alakija of Nigeria.

Africa’s billionaires are as a group, richer than a year ago. Altogether, the continent’s 20 billionaires are worth a combined $73.4 billion, up from $68.7 billion a year ago.