Richest Presidents in Africa: It is not a secret that some African leaders are not the most honest politicians in the world. Notorious African leaders have amassed a lot wealth in a short time while others have overstayed their time in power.
On this list we have presidents who have inherited some of their wealth, some are custodians of monarchy wealth, others are self-made, while some have become rich at the expense of their citizens.
Below are the top 10 wealthiest serving African Presidents:
1. Mohammed VI of Morocco – $5 billion
First on our list is the Morrocan Monarch who is also the president. He was birthed in August 1963 in Rabat, the capital of Morocco. He has been ruling Morocco for 15 years and counting, the position he rose to as a result of the death of his father, King Hassan II.
He is the most educated president in Africa obtaining different degrees from different prestigious institutions worldwide due to his background of being raised in a wealthy family combined with power and royalty.
During his ascension to the throne formerly sat on by his late father, Mohammed VI promised the Morrocan citizens that he’ll tackle poverty and corruption in the country as well as reduce the unemployment rate and improve human rights status which is demeaned in the country.
Fortunately, it hasn’t been an empty promise so far as he is. Leaving no stone unturned to ensure most of these promises are kept and this trait has earned him the title “the defender of the poor”.
2. President Ali Bongo Ondimba – $2 billion
Ali Bongo Ondimba has been ruling Gabon for 10 years and counting having assumed office from October 2009 till date. Gabon has been ranked the fifth-largest oil producer in Africa, thus, the country depends largely on crude oil exportation.
Yet, poverty is still a matter of concern in the country as the people of Gabon live below the poverty line, it was also reported by Daily Mail that the president spent $129 million for a mansion in Paris.
3. Uhuru Kenyatta – $650 million
The fourth president of Kenya, President Uhuru Muigai Kenyatta was born on October 26, 1961. He has occupied the office of the presidency since the 9th of April 2013 and he is undoubtedly one of the richest men in Kenya.
Before becoming a president, he served in the Government as the Minister for Local Government from 2001 to 2002. The former minister turned president accrue a large chunk of his wealth in the real estate industry owning land of over 500,000 acres in Kenya.
In addition to his sources of income, President Uhuru also has stakes (shares) in Kenyan media companies, hotels, banks among others.
4. Teodoro Obiang Nguema Mbasogo – $600 million
Fourth on the list is President Teodoro of Equatorial Guinea. Born on 5th June 1954 to Santiago Nguema Eneme (father) and María Mbasogo Ngui (mother) in Acoacán, Guinea.
For 34 years and counting, President Teodoro has been ruling Equatorial Guinea, the office he occupied after a military coup overthrowing his uncle from office in 1979 in a military coup.
A large chunk of his wealth is believed to have been acquired through looting and plundering the oil-rich nation.
A country still suffering abject poverty by more than half of its citizens living below the poverty line (living below $1 per day) because the president shares none of the country’s wealth with the citizens.
The report has it that his son has followed in his step; living lavishly in a $35-million estate built in Malibu and having three Buggati Verona costing $1.7-million.
5. Paul Kagame – $500 million
Paul Kagame is the fifth on our list and he is one of the famous African presidents. He is the Sixth President of Rwanda occupying the office in the year 2000. President Kagame was born in Ruanda-Urundi on the 23rd of October 1957.
He was a soldier in the Armed Forces prior to entering politics, and as such one of his noteworthy acts was his involvement to help put an end to the Rwandan Genocides in 1994. He was able to achieve this fit because he was a leader of the Rwandan Patriotic Front that invaded Rwanda to end the killings by Hutus of Tutsis.
His style of leadership has been questioned heavily and criticized as well by global watchdog organizations particularly Amnesty International, who claim that Kagame’s leadership and the regime do not give room for freedom to oppose his role and organize parties as a result.
6. King Mswati III – $500 million
The king of the landlocked kingdom located in Southern Africa (Swaziland) is the eighth Richest President in Africa and he has been in office for over 30 years. Despite the fact that over 60% of her population lives below the poverty line ($1.25) per day, King Mswati still spends lavishly and lives expensively amidst criticism.
He is married to 15 wives each living in her own expensive apartment. King Mswati has 13 palaces, fleets of Mercedes and BMW cars including at least one Rolls Royce and a $500,000 Maybach 62. To add to his collection is a private jet that is estimated to cost $17 million and was speculated to have been purchased with public funds.
7. Matamela Cyril Ramaphosa – $450 million
Matamela Cyril is the seventh on this list. He is a South African politician and the current president. Cyril was formerly a businessman, Deputy President, and activist before he succeeded Jacob Zuma.
In 2017, Cyril was the President of the African National Congress (ANC) and the former Chairman of the National Planning Commission. He was elected President on May 22 by the National assembly.
8. Yoweri Kaguta Museveni – $400 million
Yoweri Kaguta Museveni is a Ugandan politician who has been President of Uganda since 1986 in the East African Region. Yoweri Museveni’s major source of wealth is Agriculture, particularly livestock.
According to Mondaytimes report. He owns thousands of cows and they produced thousands of liters of milk to different industrial milk processors in the country and he also makes money from the sales of the cows.
While his secret and hidden wealth is estimated at $4 billion his official reported net worth is just $400 million.
9. Paul Biya – $200 million
Among the wealthiest presidents in Africa, Paul Biya has been the President of Cameron since 1982 (37 years of running in office). President Biya was born 13 February 1933 in Mvomeka’a and has gotten married twice.
His first wife Jeanne-Irène Biya is late (died on 29 July 1992) and on 23rd April 1994, he married Chantal Biya. President Biya is the richest man in Cameroon and it was reported that Biya lives an expensive and lavish lifestyle and he spends about $40, 000 on accommodation alone during vacations.
More so he has houses, investments, and businesses in different countries around the world. He is said to be autocratic rather than democratic in his leadership style and the citizens are getting wearied of him.
10. President Isaias Afwerki – $120 million
Eritrean president is the ninth richest president in Africa. It is amazing that President Afwerki is the only president of Eritrea because he has been presiding over the country since they gained independence in 1993.
This report is backed with charges of human rights violations by the United Nations and Amnesty International. He oversees the nation’s finance causing him to have much money making him be on this list despite the dilapidated state of his country.
Ranking inspired by: Naijaquest.com