African leaders are known for their fake political promises that never materialize after they are elected. To back this up are the corruption scandals that have marred their names, and they don’t seem they will slow down anytime soon.
Most of these heads of state get their wealth from state coffers, which they retain for their families and generations.
Here is a list of the wealthiest Presidents in Africa in 2022
- King Mohammed VI ($5.8 Billion) – Morocco
Mohammed VI has been the King of Morocco since 23 July 1999. He wears many hats, including a businessman banker. Together with his family, they hold the majority of the shares in the Societe Nationale d’Investment (SNI). This corporation operates in many sectors such as mining, banking, hypermarket chain, telecommunications, cement manufacturer, tourism and real estate, and energy.
- Ali Bongo Ondimba ($1 Billion) – Gabon
Ali Bongo is the son of Omar Bongo, who ruled Gabon for 41 years. Ali Bongo had served as Minister of Foreign Affairs and the Deputy in the National Assembly for over a decade. After his demise, he succeeded his father as the president, and he currently owns numerous properties globally. He has been president since 2009, and every election since then has been marred by post-election violence, arrests, and voter irregularities.
- Teodoro Obiang Nguema Mbasogo ($600 Million) – Equatorial Guinea
Teodoro Obiang is among the world’s longest-serving leaders, having ousted his uncle in 1979. He steered the country in the right direction and made it a top oil producer. Obiang is a notorious dictator associated with corruption and abuse of power. His government is a legal dictatorship because they hold all governing positions.
- Uhuru Kenyatta ($500 Million) – Kenya
Uhuru Kenyatta is son to the first president of Kenya Jomo Kenyatta. He is a renowned businessman, politician, and Kenya’s fourth president serving his final term in office. His mother, Mama Ngina Kenyatta, is among the ten richest women in Africa.
Uhuru’s tenure in office has been characterized by massive corruption and irregularities in the election process.
- Paul Kagame ($500 Million) – Rwanda
Paul Kagame was born in October 1957, and he rose into power in 2000 after Pasteur Bizimungu resigned. Kagame’s family has the majority of stakes in some of the biggest investments in Rwanda, such as Crystal Ventures. The company has a private jet company and hides most of its wealth in offshore accounts.
- Cyril Ramaphosa ($450 Million) – South Africa
Cyril Ramaphosa is the President of South Africa, and he is a self-made millionaire. According to Time Magazine, he was among the most influential leaders in Africa and the majority shareholders in Pan African Industrial Holding Group.
- King Mswati III ($200 Million) – Swaziland
A monarch system rules Swaziland, and its leader is King Mswati III, who is 51 years old. King Mswati has many wives, and he flamboyantly shows off his wealth. He owns a $500,000 Maybach, a $17 million private jet, and huge parcels of land. The king has an extravagant lifestyle while most of his population suffers.
- Abdel Fattah el-Sisi ($185 Million) – Egypt
Born in November 1954, Abdel Fattah has ruled Egypt since 2014, and he is considered among the most influential people in the world. According to the Guardian, he amassed his wealth from inheritance, family success, and land assets.
- Isaias Afwerki ($100 Million) – Eritrea
Isaias Afwerki was born on 2 February 1946 from humble beginnings. He happens to be the first and current president of Eritrea. He was the head of the Eritrean People’s Liberation Front (EPLF), which ensured independence. He is a dictator cited for human rights violations and oppressing press freedom.
- Idriss Deby ($50 Million) – Chad
Idriss Deby has been Chad’s president since 1990, and he happens to be the head of the Patriotic Salvation Movement. He ousted President Hissene Habre in 1990, and ever since, he has been able to survive numerous rebellions against his rule. He graduated from Muammar Gaddafi’s World Revolutionary Center.
The Bottom Line
Most of the wealthiest presidents in Africa have gotten their wealth from serving long terms in offices.
