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7 of Africa’s Richest Men hold a Collective Wealth Exceeding that of the the Poorest Half of the Continent’s Population 

In Nigeria, Africa’s largest economy, Dangote owns more wealth than the bottom half of Nigerians (109 million people). Dangote and Abdulsamad Rabiu, the country’s second richest man, have increased their fortunes by 29 per cent since 2020 while the bottom 99 per cent have become poorer. Similarly, the combined wealth of South African billionaires has surged by one-third since 2020, contrasting with a decline in wealth for the bottom 99 per cent. The country’s four richest billionaires have as much wealth as the bottom 60 per cent of the population (36 million people). The richest 125 Kenyans possess over twice the wealth of the bottom half, equivalent to 27 million people. Additionally, the top 1 per cent in Kenya owns 57.6 per cent of the country’s total financial wealth. In Zimbabwe, the sole billionaire has seen his fortune grow by almost 40 per cent since 2020.