Years ago, African leaders were thought to be honest folks, looking at the level of religious acceptance on the continent.
Though the continent has some of the richest resources, its development and standard of living have been rocked by the numerous corruption scandals associated with government leaders.
Amidst all these, some African Presidents tend to be richer than others. Some have even been accused of looting state coffers for their benefit.
Notwithstanding, some of these individual presidents inherited their money, and others used their position to amass wealth making them the richest on the continent.
Here is a list of the 10 richest presidents in Africa, with their net worth:
1. Mohammed VI – $5.8 billion
Mohammed VI, the king of Morocco, was born on August 21, 1964. His wealth emanates from an inheritance from his father King Hassan.
He owns 5% of shares in Societe Nationale d’Investissement (SNI) a holding company that has stakes in Atijariwafa, Management Group, and Centrale Danone.
He was the number five in the Forbes List of top richest in Africa 2015 and is currently worth $5.8 billion
2. Ali Bongo Ondimba – $1 billion
The President of Gabon who has been one of the longest-serving presidents (since 2009) is also among the richest presidents in Africa.
He was born to former president Omar Bongo on February 9, 1959.
He owns several properties in foreign nations including a townhouse worth $138 million in Paris, France
3. Teodoro Obiang Nguema Mbasogo – $600 million
Teodoro Obiang, the second and incumbent president of Equatorial Guinea, who had been in power since 1979, as the country’s constitution give him the power of dictatorship, is the third richest president in Africa.
The president whose net worth according to 2021 Forbes Magazine stood at $600 million, got investigated on corruption and use of funds fraudulently in 2007.
His eldest son, Teodorin, who also serves as the vice president has been accused by various international countries such as France and the USA for money laundering and purchasing of properties under stolen funds.
4. Uhuru Kenyatta – $500 million
The current president of Kenya who is serving his second term as the 4th ruler is deemed richer than the Rwandese president though they have the same net worth.
He was born on October 26 1961 to the first president of the nation, Mzee Jomo Kenyatta.
His main source of wealth is known to land. He is an heir to the largest landholdings in the country with over 500,000 acres of land acquired by his father in the 1960s.
Uhuru and his family also own popular businesses in the country such as Brookside Dairies, shares in K24, a television station and a commercial bank.
5. Paul Kagame – $500 million
Paul Kagame, the president of Rwanda was born in October 1957 and rose to power in 2000.
A report by Financial Times in 2012, indicates that Kagame and his family own the majority of investments in Rwanda, such as the Crystal Ventures.
The company has $500 million worth of assets inclusive of a Bombardier Global Express private jet worth $50 million.
Most of his wealth is also hidden offshore under the names of his children. Ivan Kagame is said to own a $2 million house in Beverly Hills in California
6. Cyril Ramaphosa – $450 million
He is the current president of South Africa and among the 2021 most influential people, according to Times Magazine.
The former anti-apartheid activist, trade and union leader, received accolades for his negotiating and strategic abilities.
Being the chairman of Shanduka Group that merged with the Pembina Group to form the Pan African Industrial Holding Group, with total assets of $900 million.
At some point, he became a major shareholder in MTN. He is claimed to be a self-made millionaire.
7. King Mswati III – $200 million
King Mswati III is the leader of a monarch that currently rules Swaziland. His wealth was believed to be generated from his enormous investments
With over 13 wives, he owns several vehicles including a Maybach worth $500,000, a private jet worth $17 million which he was gifted in 2018.
His 13 wives allegedly spent $6million on shopping in 2020.
8. Paul Biya -$200 million
President of Cameroon since 1982. Paul Biya caused unrest in Cameroon when he passed a bill to add another term to his power in 2008.
His control over the economy’s wealth has seen him and his family amass wealth illegally in oil, insurance, timber, banking, construction, transport and mobile telephony businesses.
9. Abdel Fattah El-sisi – $185 million
He was among the top 50 powerful people in 2018 according to Forbes. Born in November 1954, he has been the president of Egypt since 2014.
His wealth was amassed through inheritance, land assets and family success.
10. Isaias Afwerki – $100 million
He was born on February 2, 1946, and had been president of Eritrea for about 29 years.
His wealth is said to come from the compensations he receives as a world leader.
He is known to have hundreds of secret Swiss bank accounts and other properties in Eritrea and beyond
11. Muhammadu Buhari -$80 million
He is the current president of the Republic of Nigeria, been elected in 2015. He was a former military general, serving as the head of state from 1983 to 1985 after taking power through a coup.
His administration has been marred with allegations of corruption. But he is known to own several businesses run by his family
12. Peter Mutharika – $55 million
Peter Mutharika has been president of Malawi since 2014, after succeeding his brother, Bingu Wa Mutharika.
Prior to him being president, he worked globally in International Justice. He is an expert in International law and economic law.
Peter Mutharika’s family is among the Malawian elites enabling him to expand his business interest and investments, with a source of wealth coming from farming and his career in law.
13. Idriss Deby – $ 50 million
Idris Deby, president of Chad has been in power since 1990. He became the 6th president of Chad through a coup.
But won the other five presidential elections held in Chad like many other African nations is rich in oil but has most of its citizens hanging below the poverty line.
In 2006, Chad was recorded as the most corrupt nation
14. Yoweri Museveni – $50 million
After the rebellion against Idi Amin and Milton Obote in 1986, Yoweri became the president after being officially sworn in in 1996.
He has been winning any subsequent elections since then.
Museveni has over the years invested in different sectors of the agricultural rich country, making empires in agriculture, construction and energy
15. Pierre Nkurunzinza – $45 million
The president of Burundi who has been labelled as a tyrant has maintained power after being elected in 2005.
He had been accused as a person of instigating violence and massacres.
Despite the poverty trend of Burundi, Pierre continues amassing wealth in the field of agriculture and other sectors in the country