It is said that despite the presence of this abundant rich resources, Africa is still plagued by poverty as the majority of Africans are barely buoyant financially. Not just that, including lack of proper and basic amenities that would improve the living standard of the vast population. On this note, the African presidents (selected by-election) or Monarchs (Kings) seems to be less concerned or move by these conditions but are busy enriching themselves, this is factual because they are known to be among the wealthiest individuals in Africa and a large chunk of African citizens believe that the office of the president is used to swell up the bank accounts of African presidents and their families. Thus, it is against this backdrop that this article will focus on the Top Ten Richest Presidents in Africa.
Top 10 Richest President In Africa 2020
1. Mohammed VI of Morocco – Net Worth: – $2.5 billion
First in our list is the Morrocan Monarch also the president. He was birthed 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 been 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 people.
2. President Ali Bongo Ondimba – Net Worth:- $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 Ali live below the poverty line, it was also reported by Daily Mail that the president spent $129 million for a mansion in Paris.
3. Teodoro Obiang Nguema Mbasogo – Net Worth:– $600 million
Third, 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.
4. Paul Kagame – Net Worth:- $500 million
Paul Kagame is the third on our list and he is one of the famous African presidents and 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 act was his involvement to help put an end the Rwandan Genocides in 1994, he was able to achieve this fit because he was as 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.
5. Uhuru Kenyatta – Net Worth:– $500 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 9 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 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.
6. Paul Biya – Net Worth:– $200 million
Among the wealthiest presidents in Africa, Paul Biya, he 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 how on vacation he spends about $40, 000 on accommodation alone. 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.
7. President Isaias Afwerki – Net Worth:- $120 million
Eritrean president is the sixth richest president in Africa. It is amazing that President Afwerki Afwerkiis the only president of Eritrea because he has been presiding over the country since they gained independence in 1993. His leadership quality has been questioned because of how the rules using a draconian style of government.
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.
8. President Hage Geingob – Net Worth:- $110 million
President Geingob is the first Namibian President to publicly declare his and his wife’s wealth when estimated, it was an approximated to be $111 million. The President’s source of income aside from his salary and allowances include investments, properties, livestock. His wealth includes an N$2-million art collection, gold, gems, jewelry, and furniture.
9. King Mswati III – Net Worth:-– $100 million
The king of the landlocked kingdom located in Southern Africa (Swaziland) is the eight Richest President in Africa and he has been in office for over 30 years. Despite the fact that over 60% of her population living 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.
10. President Joseph Kabila – Net Worth:- $70 million
The last on the list as we draw the curtain is president Joseph Kabila Kabange of the Democratic Republic of Congo. In 2001, He took over from his late father President Laurent-Désiré Kabila who was assassinated. He is believed to have many investments in Congo. One of the challenges Joseph Kabila has been facing is the continuous yet to end wars in the Eastern part of Congo which has led to the weakening of his government.