The President of Dangote Group, Aliko Dangote, has maintained his position as Africa’s richest man with an estimated net worth of $10.1 billion in 2020.

Dangote was named the wealthiest person in Africa for the ninth year in a row by Forbes.

According to Forbes’ latest ranking with a focus on business, investment, technology, entrepreneurship and leadership, Dangote maintained the lead with $10.1 billion – which is $200 million down from his estimate of $10.3 billion a year ago.

It was further stated that this might be largely due to a slightly lower stock price for his flagship company, Dangote Cement.

Other Nigerians on the list include the Globacom boss, Dr. Mike Adenuga with a net worth of $7.7 billion, BUA group boss, Abdulsamad Rabiu with a net worth of $3 billion, Famfa Oil boss, Folorunsho Alakija with a net worth of $1 billion.

South Africa and Egypt dominate not only the top 10 richest people in Africa list but in the rankings overall with five billionaires each.

Nigeria comes second with four billionaires, including Dangote.

Dangote founded and chairs Dangote Cement, the continent’s largest cement producer. He owns nearly 85 percent of publicly-traded Dangote Cement through a holding company.