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Billionaires - August 25, 2022

10 Silent Billionaires in Africa You Should Know About

There are many billionaire entrepreneurs in Africa you don’t hear much about. Out of the eighteen recognised billionaires in Africa, the continent is home to dollar multi-millionaires who are worth billions in their countries.

These individuals keep their activities away from the public whilst living in some of the most luxurious African neighbourhoods. Let’s have a look at some of these billionaires. 

1. Abdullahi Bashir Haske is one of the youngest billionaires in Africa

billionaires Africa
Source: Everybody Wiki

The 34-year-old Abdullahi Bashir Haske is one of the young silent billionaires in Nigeria. He is known as a serial entrepreneur, private investor, and philanthropist.

Haske ventured into the corporate world in 2005. He garnered knowledge about different sectors, such as oil and gas, construction, and public procurement. With this experience, Haske started and built his business. Gradually, he became one of the youngest billionaires under forty in Nigeria.

He is the founder and group managing director of AA&R Investments, a holding company with subsidiaries in oil & gas, marine services, aviation, agriculture, information technology, and logistics services.

2. Sir Clement Oluwatumininu Okeowo is one of the billionaires contributing to the real estate industry in Africa

billionaires Africa
Source: Nairametrics

Though born into a wealthy family, Okeowo chartered his path to becoming a billionaire. A silent one at that. To be self-dependent, he pivoted from being a doctor to construction after identifying the opportunity in the civil engineering sector. Ten years later, he combined it with real estate.

In 1994, he established Gibraltar Construction Nigeria Limited. The company has completed over 1200 projects across Nigeria.

The construction firm is known for its infrastructure, real estate, fabrication, and installations. One of its renowned projects is the Parkview Estate in Ikoyi.

3. Oladele Fajemirokun is one of the billionaires in Africa despite huge family debts

Source: Inspen Online

Oladele Fajemirokun’s entrepreneurial escapade started when he took over his father’s business after his demise.

Though to everybody, he took over a renowned and reputable business, in reality, he inherited huge debt left behind by his father. Despite the scary reality, he waded through it all and became one of the Nigerian billionaires.

Today, he is the chairman of Henry Stephens Group Nigeria and the CEO of the Chicken Republic and AIICO.

He also has stakes in more than forty companies in the insurance, agriculture, oil and gas, telecommunications and manufacturing sectors.

4. Arthur Eze is one of the silent billionaires in Africa and Nigeria that lives a reclusive life

Source: Startup TipsDaily

Arthur Eze is a Nigerian politician, philanthropist and the Chief Executive Officer (CEO) of Atlas Oranto Petroleum. The oil mogul’s company has 22 oil and gas licenses in different African countries.

From its inception to now, the company has been one of the biggest private oil companies in Nigeria and the largest oil exploration blocs holder on the continent.

5. Said Salim Bakhresa is one of the diversified billionaires in Africa

Source: Glusea

Said Salim Bakhresa is the founder and chairman of Bakhresa Group. The Tanzania-based company also invests in agribusiness, beverages, logistics, media, oil trading, recycling, entertainment, and packaging.

Founded in 1975, the company has expanded to 15 distinct divisions within and outside the borders of the country. This includes African countries such as Kenya, Uganda, Malawi, Mozambique, Zambia, Rwanda, Burundi, Zimbabwe and South Africa.


These are the Youngest Billionaires in Africa 2022

6. Ally Awadh is one of the billionaires changing the narrative of clean energy in Africa


Ally Awadh made his wealth from the energy sector after successfully constructing one of the fastest-growing energy companies in East Africa – Lake Oil Group. With grit, he built the energy company within 15 years into a $1 billion revenue-generating firm.

Lake Oil Group is a holding company for  Lake Trans, Lake Gas, Gulf Cement and Concrete Products, and African Inland Container Depot. It operates in African countries such as Zambia, the Democratic Republic of Congo, Burundi, Rwanda, and Kenya.

7. Shekhar Kanabar is one of the billionaires that attained his status through the family business

Source: LinkedIn

Shekhar Kanabar serves as the Chief Executive Officer (CEO) of Synarge Group, a family-owned company. The 50-year-old company is actively involved in smelting and manufacturing lead, battery recycling, commercial real estate, logistics support and automotive spare parts.

He attained his billionaire status through family investments and Synarge Group, established in the 1960s.

8. Emmanuel Katongole is one of the billionaires changing the health industry in Africa

billionaires Africa
Source: Keough School of global affairs

Emmanuel Katongole is racking in billions of Ugandan shillings from the pharmaceutical industry. He is the co-founder and chairman of Cipla Quality Chemical Industries, a Ugandan pharmaceutical company.

His company is the only company in Sub-Saharan Africa with the license to manufacture triple-combination anti-retroviral drugs.

9. Mohammed Hamid is one of the top billionaires in Africa, leveraging the need for food

Source: The Report Company

Mohammed Hamid is one of the top entrepreneurs in Uganda and the founder and Chairman of Aya Group. The $300 million yearly generating conglomerate is involved in milling, food manufacturing, commodity trading, transportation and hospitality.

In the hospitality sector, the company launched Pearl Of Africa, a landmark hotel in Kampala worth over $200 million.

10. Sikander Lalani is one of the billionaires in Africa, with the largest roof company in Uganda

Source: MarcoPolis

Sikander Lalani is the founder of Uganda’s largest manufacturer of steel construction materials: Roofings Group. The company has a production capacity of 72,000 metric tonnes yearly, generating $80 million.


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