In this article I will be sharing with you the top 10 richest presidents in Africa in 2024. Politics in Africa is believed by many to be an act used for exploitation. Causing many to believe it is a dirty game. The continent of Africa is a land of abundance blessed with fertile land, natural mineral resources, oil reserves, gold, platinum, tin, diamond, and other precious metals and minerals resources that drive and contribute to the global economy. It is said that despite the presence of these abundant rich resources, Africa is still plagued by poverty as the majority of Africans are going through financial challenges.
Not just that, including lack of proper and basic amenities that would improve the living standard of the vast population. On this note, the African presidents seems to be less concerned or moved by these conditions but are busy enriching themselves, this is factual because they are known to be among the wealthiest individuals in Africa and a large chunk of African citizens believe that the office of the president is used to swell up the bank accounts of African presidents and their families. So not to waste much of your time, after a careful study and research I present to you the top 10 richest presidents in Africa in 2024.
10. Joseph Kabila
Joseph Kabila is the current president of the Democratic Republic of Congo. He is the tenth richest president in Africa with an estimated net worth of $100 million. In 2001, he took over from his late father President Laurent-Désiré Kabila who was assassinated. He is believed to have many investments in Congo. One of the challenges Joseph Kabila has been facing is the continuous yet to end wars in the Eastern part of Congo which has led to the weakening of his government.
9. Isaias Afwerki
Isaias Afwerki is the current president of Eritrea. He is the ninth richest president in Africa with an estimated net worth of $120 million. It is amazing that President Isaias Afwerki is the only president of Eritrea because he has been presiding over the country since they gained independence in 1993. His leadership quality has been questioned because of how he rules using a draconian style of government. This report is backed with charges of human rights violations by the United Nations and Amnesty International. He oversees the nation’s finance causing him to have much money and making him be on this list despite the dilapidated state of his country.
8. Paul Biya
Paul Biya is the current president of Cameroon. He is the eighth richest president in Africa with an estimated net worth of $200 million. Paul Biya has been the President of Cameron since 1982. He has spent 37 years in office. He was born 13th February 1933 and has gotten married twice. President Paul Biya is the richest man in Cameroon and it was reported that he lives an expensive and lavish lifestyle and spends about $40,000 on accommodation alone during vacations. He also has houses, investments, and businesses in different countries around the world. He is said to be an autocratic leader and the citizens are getting wearied of him.
7. Cyril Matamela
Cyril Matamela is the current president of South Africa. He is the seventh richest president in Africa with an estimated net worth of $450 million. Cyril Matamela was formerly a businessman, Deputy President, and an activist before he succeeded Jacob Zuma as the President of South Africa. In 2017, Cyril Matamela was appointed the President of the African National Congress (ANC) and was also the former Chairman of the National Planning Commission.
6. Patrice Talon
Patrice Talon is the current president of the Republic of Benin. He is the sixth richest president in Africa with an estimated net worth of $500 million. In 2015, Forbes ranked Patrice Talon as the15th wealthiest sub-Saharan African with an estimated net worth of $400 million. At that time, he was not the head of state of Benin Republic. Patrice Talon assumed his current position on 6th April 2016 as president of the Republic of Benin. He made his wealth from running multiple businesses, especially in the cotton sector. He also raked a significant amount of money from running Cotonou’s port.
5. Paul Kagame
Paul Kagame is the current President of Rwanda. He is the fifth richest president in Africa with an estimated net worth of $600 million. He is the Sixth President of Rwanda. He took over power in 2000 and has been in power for over 22 years. President Paul Kagame was born in Ruanda-Urundi on the 23rd of October 1957. He was a soldier in the Armed Forces before entering politics, and as such one of his noteworthy acts was his involvement to help put an end to the Rwandan Genocides in 1994. His style of leadership has been questioned heavily and criticized as well by global watchdog organizations particularly Amnesty International.
4. Teodoro Obiang
Teodoro Obiang is the current president of Equatorial Guinea. He is the fourth richest president in Africa with an estimated net worth of $700 million. He was born on 5th June 1954. For the past 34 years and still counting, President Teodoro Obiang has been ruling Equatorial Guinea, the office he occupied after a military coup overthrowing his uncle from office in 1979 in a military coup. A large chunk of his wealth is believed to have been acquired through looting and plundering the oil-rich nation. His country is still suffering from abject poverty because the president shares none of the country’s wealth with the citizens. The report has it that his son has followed in his step, living lavishly in a $35 million estate built in Malibu and having three Buggati Verona worth over $1.7 million.
3. Uhuru KenyattaÂ
Uhuru Kenyatta is the current president of Kenya. He is the 3rd richest president in Africa with an estimated net worth of $800 million. He was born on 26th October 1961. He has occupied the office of the presidency since the 9th of April 2013 and he is undoubtedly one of the richest men in Kenya. Before becoming a president, he served in the Government as the Minister for Local Government from 2001 to 2002. He accumulated a large chunk of his wealth in the real estate industry owning land of over 500,000 acres in Kenya. In addition to his sources of income, President Uhuru Kenyatta also has stakes and shares in Kenyan media companies, hotels, banks, among others.
2. Ali Bongo OndimbaÂ
Ali Bongo Ondimba is the current president of Gabon. He is the 2nd richest president in Africa with an estimated net worth of $2 billion. Ali Bongo Ondimba has been ruling Gabon for 10 years and still counting. He assumed office in October 2009 and till date he is still in power. Gabon has been ranked the fifth-largest oil producer in Africa, thus, the country depends largely on crude oil exportation. Yet, poverty is still a matter of concern in the country as the people of Gabon live below the poverty line. It was also reported by Daily Mail that president Ali Bongo Ondimba spent $129 million for a mansion in Paris, France.
1. Mohammed VI
Mohammed VI is the current president of Morocco and also a Monarch. He is the richest president in Africa with an estimated net worth of $5 billion. He was born in August 1963 in Rabat, the capital of Morocco. He has been ruling Morocco for 15 years and still counting, the position he occupied as a result of the death of his father, King Hassan II. He is the most educated president in Africa obtaining different degrees from different prestigious institutions worldwide due to his background of been raised in a wealthy family combined with power and royalty. During his ascension to the throne, he promised the Morrocan citizens that he will tackle poverty and corruption in the country as well as reduce unemployment rate and improve human rights status. Mohammed VI is currently the richest president in Africa with an estimated net worth of $5 billion.
Austine Ikeru is a Professional Blogger, YouTuber, Forex Trader and Entrepreneur. You can follow him on Facebook, Twitter, Instagram and Tiktok