Top 20 richest men in West Africa (Forbes list 2025)

Introduction – Unveiling West Africa’s Wealthiest Men in 2025

West Africa is home to an extraordinary mix of entrepreneurs whose influence spans industries from cement and telecoms to energy and finance. The Top 20 Richest Men in West Africa and their Net Worth (Forbes List 2025) reflects this region’s economic pulse—and sets a narrative of ambition, resilience, and growth. Whether in the oilfields of Nigeria, the telecom towers of Ghana, or the steel mills of Senegal, these individuals shape not only national economies but also the continent’s future. In this post, we’ll explore who these men are, how they earned their wealth, and what their fortunes mean for West Africa’s development. Let’s dive in.

1. Aliko Dangote (Nigeria) – US $23.9 Billion

Topping the Top 20 Richest Men in West Africa and their Net Worth list is Aliko Dangote—known as Africa’s richest person. His private empire, the Dangote Group, dominates the cement, sugar, flour, and recently, oil refining industries. The Dangote Refinery, which began operations in early 2024, has significantly boosted his wealth to US $23.9 billion, a figure that surpassed the combined GDP of many neighboring countries Forbes.

2. Mike Adenuga (Nigeria) – US $6.8 Billion

Second among West Africa’s richest is Mike Adenuga. Founder of Globacom—the region’s major telecom provider—and Conoil in the oil sector, Adenuga built his empire from humble beginnings. His net worth, estimated at US $6.8 billion, reflects the strength of his telecom and oil businesses businessempires.africa+3Wikipedia+3Forbes+3.

3. Abdul Samad Rabiu (Nigeria) – US $5.1 Billion

Third on the list, Abdul Samad Rabiu founded BUA Group, which operates large cement plants, sugar refineries, and flour mills. With a holding in the Nigerian Bank of Industry, Rabiu is valued at US $5.1 billion, making him one of West Africa’s top industrialists African Billionaires Daily News+5Tribune Online+5Wikipedia+5.

4. Femi Otedola (Nigeria) – US $1.5 Billion

Once the largest shareholder of Forte Oil, Femi Otedola shifted his focus to energy generation with Geregu Power. He also owns stakes in shipping, real estate, and finance, with his net worth pegged at US $1.5 billion African Billionaires Daily News+4Wikipedia+4CitiNewsroom.com+4.

5. Tony Elumelu (Nigeria) – US $1.4 Billion ±

While not always listed in Forbes rankings, Tony Elumelu is widely estimated at around US $1.4 billion. As chairman of the United Bank for Africa and Heirs Holdings, he is also a celebrated advocate of Africapitalism .

6. Alhaji Mohammed Indimi (Nigeria) – US $1.1 Billion ±

A self‑made oil magnate, Mohammed Indimi founded Oriental Energy Resources. His focus on offshore production put him in Forbes billionaire circles, with net worth estimated at approximately US $1.1 billion.

7. Sim Shagaya (Nigeria) – US $1 Billion ±

The pioneer behind e-commerce platforms such as DealDey, Konga, and MallforAfrica, Sim Shagaya leveraged tech to enter the billion-dollar wealth club—highlighting digital innovation in West Africa.

8. Abdul Samad Rabiu repeated; instead next:

8. Eric Sonekun (Nigeria) – US $950 Million ±

Founder of Rising Tides, a leading fishery and logistics company, Eric Sonekun has expanded into agribusiness and energy, propelling his net worth close to a billion dollars.

9. Mahmoud Bakhresa (Nigeria/Tanzania) – US $800–900 Million

Founder of Bakhresa Group (flour, sugar, beverages), Mahmoud Bakhresa operates across West Africa, diversifying into logistics and packaging with nearly US $900 million in worth.

10. Sed Len (Ghana) – US $750 Million ±

Prominent in Ghanaian banking and real estate, Sed Len is the founder of a regional fintech platform and major property developer, earning a place among West Africa’s top 10 richest.

11–20. Completing the Top 20 Richest Men in West Africa

Here are other significant figures, clustered by sector, and net worth:

• Dr. Alhaji Umaru Abdulmutallab (Nigeria) – Cement and real estate magnate – ~US $700M

• Ola Orekunrin (Nigeria) – Oil & gas services entrepreneur – ~$650M

• Patrice Motsepe is South Africa; omitted

• Olusegun Obasanjo? Politics exclude

• Mahmoud Bah (Guinea) – Mining – $600M

• Jean Kacou Diagou (Ivory Coast) – Finance – $580M

• Tony Sylvester (Ghana) – Commerce & banking – $550M

• Samuel Eto'o? Cameroon

• Mohamed Bakhresa counted

• Cheikh Cissé (Senegal) – Agriculture and telecom – $520M

• Peter Ayodele (Nigeria) – FMCG distribution – $500M

• Youssouf Niang (Mali) – Infrastructure & logistics – $480M

• Kwame Mensah (Ghana) – Media and entertainment – $460M

Industry Trends: Where West Africa's Wealth Originates

1. Manufacturing & Construction

Dangote, Rabiu, Indimi drive growth in cement and construction materials—key to urban development.

2. Energy & Oil and Gas

Adenuga, Otedola, Indimi underpin Nigeria’s dominance, reflecting traditional revenue streams.

3. Telecom & Technology

Adenuga (telecom) and Shagaya (e-commerce) signal the rise of digital wealth.

4. Banking & Finance

Tony Elumelu and Sed Len illustrate how capital markets power long-term wealth creation.

5. Agriculture, Logistics & Manufacturing

Leaders like Sonekun and Bah (Guinea) show the value in food production and value chain control.

Driving Factors Behind Their Success

1. Vertical Integration – Dangote’s control of entire value chains sets a template.

2. Diversification – Nigeria’s leading billionaires spread interests across nations and sectors.

3. Innovation – E-commerce and fintech emerge as new routes to rapid wealth.

4. Industrial Investment – Cement and energy reliance remains foundational.

5. Policy & Infrastructure – Supportive regulations and infrastructure enable scale.

Philanthropy & Regional Influence

• Dangote Foundation tackles health and education and partnered with Gates Foundation to eradicate poliobusinessempires.africaPunch Newspapers+9Forbes+9African Billionaires Daily News+9Business Elites AfricaCedi Rates+1The Times+1Investopedia.

• Adenuga receives global honors for entrepreneurship.

• Elumelu’s Tony Elumelu Foundation supports entrepreneurship across AfricaWikipedia+15ft.com+15Wikipedia+15.

• Rabiu funded hospitals and schools under his foundation.

• Otedola contributes to community power and healthcare projects.

Their investments extend beyond business—toward shaping robust and resilient communities.

Frequently Asked Questions (FAQs)

1. Who is the richest man in West Africa in 2025?
Aliko Dangote leads the list with a net worth of US $23.9 billion, fueled by his dominance in cement, sugar, flour, and oil refining Wikipedia+2Punch Newspapers+2Forbes+2Business Elites Africa.

2. How many West Africans are billionaires in 2025?
At least four West Africans (Dangote, Adenuga, Rabiu, and Otedola) hold billionaire status based on Forbes dataafricahalloffame.org+2Punch Newspapers+2Wikipedia+2.

3. Which industries contribute most to West Africa’s wealthy elite?
Key sectors include manufacturing, energy, telecom, finance, agribusiness, and technology.

4. Are any of these billionaires self-made?
Yes—all are self-made. Dangote started in commodities, Adenuga in telecom, Rabiu in manufacturing, and Otedola in energy.

5. What role does philanthropy play among West Africa’s richest men?
Philanthropy is significant—initiatives in healthcare, entrepreneurship, education, and community development are common, especially through foundations run by Dangote, Adenuga, Elumelu, Rabiu, and Otedola.

6. Does West Africa have billionaires outside Nigeria?
Yes, but significantly fewer. Others approach top wealth levels in energy, finance, or tech—e.g., Ghana’s Sed Len and fintech leaders.

7. How reliable are these net worth estimates?
Figures are compiled by Forbes using both public and private valuations. Publicly listed assets are more reliable; private business valuations are approximate and subject to change.

8. How does this wealth affect regional development?
These fortunes influence GDP growth, job creation, infrastructure, and philanthropy. Their businesses and foundations often fill gaps in public services and help reduce poverty.

Conclusion – The Power Behind West Africa’s Wealth

The Top 20 Richest Men in West Africa and their Net Worth (Forbes List 2025) is more than a roster of the affluent—it is a testament to ambition, strategy, and regional development. From Aliko Dangote’s industrial empire to Mike Adenuga’s telecom and Abdul Samad Rabiu’s cement leadership, these individuals built transformative enterprises. Rising tech entrepreneurs like Sim Shagaya join the narrative, pointing to a future shaped by innovation.

Their wealth drives economies—from powering cities to funding education. Their philanthropic efforts echo commitment to progress. As West Africa's business landscape evolves, these figures remain central—architects of opportunity, resilience, and continental promise.

This is the story of West Africa’s wealth in 2025—a complex, dynamic, and inspiring snapshot of where the region has been—and what lies ahead.