Africa is endowed with abundant human and mineral resources. The continent is blessed with oil reserves, gold, diamond, platinum, tin, steel and several other mineral resources. African is home to about 1 billion people, majority of which are barely getting by as a result of inequitable distribution of resources.
Politics in Africa is quite lucrative as evidenced by how wealthy African Presidents are and the lavish lifestyle most of their families live.
It is against this backdrop that this article will be profiling some of the richest African Presidents and Monarchs (past and present).
1. Jose Eduardo dos Santos, Angola
Jose Eduardo dos Santos was President of Angola for 38 years, he was in power from 1979 to 2017. Though he left office in 2017, he is still estimated to be worth a whopping $20 billion. Additionally, his daughter Isabella dos Santos’ net worth is believed to be in the region of $3.4 billion making her not just the richest woman in Africa but also the richest black woman in the world.
2. King Mohammed VI of Morrocco
Morrocco King and President, Mohammed VI has been ruling Morrocco for 15 years. He ascended the throne following the death of his father King Hassan II. He is the most educated President in Africa obtaining different degrees from prestigious universities across the world. He is regarded as the ‘defender of the poor’ in his country having strived to reduce unemployment rate and help uphold human rights. He is estimated to be worth $2.5 billion having made majority of his wealth from his large assets in Morroccan company, Societe National Investissement (SNI), Maryjane Holding and SNI 48% shareholding in Morrocco’s largest bank - Attijariwafa.
3. President Ali Bongo Ondimba, Gabon
Ali Bongo Ondimba got into office in October 2009 and has been President of Gabon since then. Gabon is the fifth largest oil producer in Africa and the economy depends largely on oil proceeds. A large percentage of Gaboneses still live below the poverty level despite the level of affluence of its leader. He is believed to be worth $2 billion.
4. Teodoro Obiang Nguema Mbasogo, Equitorial Guinea
President of Equitorial Guinea, Teodoro Obiang Nguema Mbasogo ousted his uncle from office in a military coup in1979 to become the country’s President. The citizens live on less than $1 per day underlining the level of poverty in the land. President Mbasogo is however one of the richest Presidents in Africa with an estimated net worth of $600 million.
5. Uhuru Kenyatta, Kenya
President Kenyatta is the fourth President of Kenya having assumed office in 2013 and is believed to be one of the richest men in Kenya. He is estimated to have a net worth of $500 million. He made most of his fortune in real estate with ownership of up to 500,000 acres of land in Kenya. He also has substantial investments in Kenya media companies, banks, hotels, etc
6. Paul Kagame, Rwanda
Paul Kagame is the sixth President of Rwanda having assumed office in the year 2000. He is one of the famous African Presidents and played a major role in bring an end to the genocide in 1994. His Rwandan Patriotic Front invaded Rwanda to bring an end to the killing of the Hutus by the Tutsis. He is worth $500,000.
7. Paul Biya, Cameroon
Paul Biya is the longest serving President in the world following the ousting of former Zimbabwean President, Robert Mugabe from office. Paul Biya is the richest man in Cameroon with a net worth of $200 million. Although his basic salary is low making him one of the lowest earning African Presidents, his bonuses and allowances places him as one of the highest paid African President.
8. President Isaias Afwerki, Erithrea
President Afwerki has been President of Erithrea since the country gained independence in 1993. He oversees the county’s finances giving him easy access to the country’s resources and placing him in the list of the richest Presidents in Africa despite the widespread underdevelopment of the country. He has a net worth of $120 million.
9. President Hage Geingob, Namibia
The Namibian President’s source of fortune aside his salary and allowance emanates from investments, property and livestock. His wealth includes a $2 million art collection, gold, furniture, gem and jewelry. His net worth stands at $110 million.
10. King Mswati III, Swaziland
King Mswati III of Swaziland is the 15th richest among the royals in the world. According to Forbes he is worth $100 million dropping from $200 million in 2014. He is currently married to 15 wives with each living in her own expensive apartment. He reported allocated a budget of $61 million for his household in 2014. King Mswati III lives a lavish lifestyle with 13 palaces, BMW cars including a Rolls Royce and a $500,000 Maybach 62. He has been in power for 28 years.