Top 15 Richest Politicians in Africa (2023)

Who are the richest politicians in Africa? — African politics can mean different things to different people. Politicians are well-respected in society because they have a lot of power, money, and influence. They are supposed to serve the people, but some of them have used their positions to enrich their pockets at the expense of the people they were meant to serve.

While some politicians are dedicated and serve their communities with sincerity and hard work, others see politics as a way to quickly get rich. They view it as a “Ponzi scheme” where they can take advantage of their position to eat the “national cake” and make themselves wealthy. However, it’s important to note that not all politicians gain their wealth through politics. Some have made money from other businesses, investments, or inheritances.

Unfortunately, many politicians have been accused of corruption and misuse of public funds. They have faced trials in different courts for their alleged crimes, such as stealing money or awarding contracts to their own companies. This list of the richest politicians in Africa, however, wishes to examine the net worth of each of the politicians that appear on this list with the position they hold and how their wealth commensurate with their declared assets and business practices.

Methodology and Criteria for Ranking

While we cannot independently verify the exact net worth of every African politician mentioned on this list, we have made use of extensive online resources and reliable sources that have previously conducted research to explore the potential wealth of these individuals.

Additionally, we have taken into account various factors to determine their wealth, such as their properties, cars, investments, affiliations, and other assets. These factors have played a significant role in ranking the politicians on this list in terms of their wealth.

Top 15 Richest Politicians in Africa

1. Bola Ahmed Tinubu – $8.4 Billion

Richest Politician in Africa – Bola Ahmed Tinubu

Bola Ahmed Tinubu is the richest politician in Africa with an. He is a Nigerian accountant and politician. He has been the national leader of the All Progressives Congress since the party’s formation in 2013. Also served as a senator representing the Lagos-West senatorial district from 1992 to 1993 before moving on to become the Governor of Lagos State from 1999 to 2007.

Bola Ahmed Tinubu was one of the presidential aspirants for the 2023consteting under the All Progressive Congress party APC where he won the election and became the president of Nigeria. And speaking of his acquired properties, some of them include, 10,000 hectares of Lakowe land near Abijo at Ibeju-Lekki land which is valued at N80 billion naira, a Fishery Landing jetty in Badore valued at N500 million naira, the Ogudu foreshore scheme valued at N5 billion naira, 3.8 hectares of land at the Lagos State Fisheries Office in Victoria Island is valued at 3 Billion, Ilubinrin housing estate, formerly used for Lagos State Civil Servants and judges until 2007, valued at N2.5 billion naira

Having served as both governor and senator and currently serving as the president of the most populous country in Africa, Bola Ahmed Tinubu’s net worth is estimated at $8.4 billion, making him the richest politician in Africa and also, the richest politician in Nigeria.

2. King Mohammed VI – $5.7 Billion

Richest Politicians in Africa – King Mohammed VI

King Mohammed VI of Morocco is one of the richest politicians in Africa as well as the richest monarch in Africa. Although he is not directly referred to as president, he is the head of the state of Morocco where his family has been ruling for about 400 years till he also became the king in 1999, ascending the throne after the death of his father.

King Mohammed VI inherited a 35% stake in Societe Nationale d’Investissement (SNI) from his father after passing away. SNL Capital which is a holding company that has stakes in several publicly traded companies in Morroco and beyond is majorly controlled by the king and the royal family with investments in different fields such as banking, telecommunications, renewable energy businesses, and the food industry among others. Mohammed VI was listed on Forbes’ Africa Billionaires list in 2015.

With an estimated net worth of $5.7 billion dollars which is a credit of most of his business dealings, the Moroccan king, King Mohammed VI is among the richest politicians in Africa who have gotten their wealth not off politics alone but other different business ventures.

3. Ibrahim Babangida – $5 Billion

Ibrahim Babangida is a retired Nigerian Army general and politician and military president of Nigeria from 1985-1993. IBB as he is fondly called is one of the richest politicians in Nigeria as well as a former head of state or president who had served at one point in time, be it as military head of state or democracy.

Babangida held the reins of the Federal Republic of Nigeria with a firm hand from August 27, 1985, until his retirement in August 1993. As an army general, he not only commanded respect but also the Armed Forces Ruling Council from 1985 to 1993. Prior to his ascension to power, Babangida served as the Chief of Army Staff from 1984 to 1985, and it was during this time that he orchestrated a palace coup d’état, toppling Muhammadu Buhari the former president of Nigeria from his position.

Meanwhile, Babangida was accused of illegally moving around $12 billion made from oil during the 1992 Gulf War. Some reports, like Forbes, claimed his wealth was around $12 billion, but he denied this. Other sources estimate his net worth to be over $5 billion, which still makes him one of the wealthiest politicians in Africa and Nigeria.

4. Abubakar Bukola Saraki – $2 billion

Bukola Saraki is a prominent Nigerian politician, who has left an indelible mark on the country’s political landscape. He served as the Governor of Kwara State from 2003 to 2011.

After that, he became a member of the Nigerian Senate, representing Kwara Central. He eventually became the Senate President from 2015 to 2019, where he wielded substantial influence and played a key role in legislative affairs.

Before he got into politics, Bukola Saraki worked as the Director of Société Générale Bank (Nig) Ltd from 1990 to 2000. He also worked as a medical doctor for some time before deciding to leave the white-collar job.

Although Bukola Saraki faced political challenges and allegations of corruption and abuse of power related to mishandling money, he has been cleared of those charges. He is now estimated to have a net worth of $2 billion dollars, which makes him one of the richest politicians in Africa.

5. David Mark – $2 billion

David Mark is a well-known Nigerian politician who served as the senate president from 2007 to 2015 when he was succeeded by Abubakar Bukola Saraki. Before getting into politics, he served in the army and became a Brigadier General.

Mark is one of the few politicians who were able to gain a lot of wealth while serving in government. He was the Governor of Niger State from 1984 to 1986 under the military government. He was also a senator representing Benue South from June 1999 to June 2019.

Throughout his career, Mark has held important positions and is known for being composed and thoughtful. However, there are allegations that he used his position for personal gain. David Mark has diversified investments and his net worth is estimated to be $2 billion.

6. Atiku Abubakar – $1.8 Billion

Richest Politicians in Africa – Atiku Abubakar

Atiku Abubakar is a retired military officer, Nigerian politician and businessman who served as the Vice President of Nigeria from 1999 to 2007 during the presidency of Olusegun Obasanjo.

He spent twenty years in the Nigeria Customs Service, rising to the post of Deputy Director, the second-highest position in the service at the time. After leaving the military in April 1989, he focused on business and politics. In 1991, he ran for governor of the old Gongola State, now known as Adamawa and Taraba States, and in 1993, he ran for President but lost.

Over his career, Atiku has contested for the office of the President of Nigeria five times but lost each time (2003, 2007, 2015, 2019, and 2023). Atiku Abubakar is very wealthy, with an estimated net worth of $1.8 billion.

7. Ifeanyi Ubah – $1.7 Billion

Richest Politicians in Africa – Ifeanyi Ubah

Ifeanyi Ubah is a Nigerian politician and businessman with an innovative spirit. He has ventured into various business sectors, building thriving enterprises that have helped create jobs and improve the economy in his hometown and across Nigeria. He exports motor tires and spare parts to countries in West Africa like Ghana, Liberia, Sierra Leone, and DR Congo. Later, he expanded his business to Belgium and the United Kingdom.

Ifeanyi Ubah is the founder of The Authority Newspaper and the owner of Ifeanyi Ubah F.C (formerly the Gabros International Football Club). He is also the CEO of Capital Oil and Gas Limited.

As of 2023, Ifeanyi Ubah has become extremely wealthy and is recognized as one of the richest politicians in Africa, with a net worth is $1.7 billion. Despite being a politician, he is more known for his business acumen and focus on making profits. This has made him a respected leader among his people.

8. Olusegun Obasanjo – $1.6 Billion

Olusegun Obasanjo was the first military ruler in Africa to hand over power to a civilian government. He served as Nigeria’s military ruler from 1976 – 1979, and as elected president from 1999 to 2007.

Obasanjo has been described as one of the great figures of the second generation of post-colonial African leaders. He is regarded as one of Nigeria’s best presidents owing to his numerous impressive achievements.

Obasanjo’s involvement in business ventures and investments has further contributed to his wealth. He has invested in sectors such as agriculture, telecommunications, and energy, showing that he understands business and has diversified income streams. He even owns a big chicken farm called Otta Farms, which is one of the largest in West Africa. He is also involved in major oil production, marketing, and distribution in Nigeria.

Additionally, he has several businesses and investments in other countries. It is estimated that Obasanjo’s net worth is around $1.6 billion.

9. Rochas Okorocha – $1.4 Billion

Rochas Okorocha is a Nigerian Senator who represents Imo West Senatorial District in the Nigerian Senate. He started his political career in 1999 when democracy was restored in Nigeria. He gained a lot of support and followers, which led him to run for Governor in the 2007 general election under the Peoples Democratic Party (PDP).

In the run-up to the 2011 general election, Rochas joined the All Progressive Grand Alliance (APGA), before switching to the APC where he was elected governor of Imo state and served two terms.

While there are reports that he was already a wealthy man before becoming the governor of Imo state, Rochas Okorocha’s current net worth is estimated to be $1.4 billion. This makes him one of the richest politicians in Africa.

10. Orji Uzor Kalu – $1.1 Billion

Richest Politicians in Africa – Orji Uzor Kalu

Orji Uzor Kalu is a Nigerian politician and businessman. He is the Chief Whip of Nigeria’s House of Senate and the Senator representing Abia North Senatorial District. Orji Kalu is also a former Governor of Abia state, serving two terms from 1999 to 2007.

As a businessman, he ventured into business at the age of 19, selling palm oil, rice, and sugar. Later on, he ventured into furniture manufacturing and transportation. By the age of 20, he was already a millionaire according to reports. Therefore, it is obvious that Orji Kalu is one of the most successful and wealthiest politicians in Nigeria.

Without a doubt, Kalu is one of the most successful and richest politicians in Nigeria. Speaking of wealth, estimates suggest that Orji Uzor’s net worth is $1.1 billion. While his success as a businessman has afforded him considerable financial resources, criticisms and controversies surrounding his wealth accumulation continue to cast a shadow on his overall legacy.

11. Ali Bongo Odimba – $1 Billion

Richest Politicians in Africa – Ali Bongo Odimba

Ali Bongo is Gabon’s third president, serving since October 2009 following the death of his father, Omar Bongo. He however entered into politics in 1981 and he was elected to the Central Committee of the ruling party in 1983. Additionally, between 1989 and 1991 he became the Minister of Foreign Affairs and between 1991-1999 he was chosen by his state to represent them in the National Assembly.

Meanwhile, progressing in his political career and being ambitious he was appointed as the  Minister of Defense from 1999 to 2009 and in the same year he contested for the position of president after his father dies while ruling the country for more than four decades, he won the 2009 Gabonese presidential election and became president.

He was, however, re-elected in 2016. With inheritances from his father, his political salaries, and other investments, Ali Bongo’s estimated net worth is $1 Billion. And with his estimated net worth, he is ranked one of the richest politicians in Africa.

12. Daisy Danjuma – $900 million

Daisy Danjuma is a well-known Nigerian politician and successful businesswoman who has held prominent positions in both public and private organizations. She began her career as an Executive Assistant at Nigerian Acceptances Limited (NAL) and later served as the Company Secretary/Legal Adviser for the Nigerian Television Authority (NTA) for a decade. In 2003, she was elected as a Senator representing the Edo senatorial district, but unfortunately, she couldn’t secure re-election in the 2011 Nigeria general election. Daisy comes from a distinguished background, being married to General Theophilus Danjuma, a highly accomplished businessman and former military officer.

While her exact net worth and income sources are not readily available, various sources estimate her net worth to be around $900 million. Daisy’s business interests span diverse sectors such as oil and gas, telecommunications, real estate, and philanthropy. However, the Danjuma family’s wealth has faced criticism and controversies, with concerns raised about the transparency and fairness of their business dealings, implying that their fortune may have been accumulated through questionable means.

Daisy’s extensive experience includes serving on several public and private company boards. Notably, she has been a director at South Atlantic Petroleum (SAPETRO), a leading petroleum company, and was appointed as the chairperson of May & Baker Nigeria PLC, a prominent pharmaceutical manufacturing company, in 2019.

13. Ahmadu Adamu Mu’azu – $895 Million

Richest Politicians in Africa – Ahmadu Adamu Mu’azu

Ahmadu Adamu Mu’azu is a prominent Nigerian politician who served as the governor of Bauchi State and later became the chairman of the People’s Democratic Party (PDP). His journey in public service began as a property manager at the Bauchi State Investment and Property Development Company, where he gained valuable experience. Known for his success in politics and business, Mu’azu is considered one of Nigeria’s richest politicians, as he appeared on this list as one of the richest in Africa with an estimated net worth of $895 million.

Mu’azu’s dedication to public service and his ability to thrive in business have made him a prominent figure in Nigerian politics. Prior to his political career, he honed his skills as a property manager, demonstrating his commitment to effective management and development. His substantial net worth, estimated at $895 million, places him among the richest politicians in Africa.

14. Dino Melaye – $800 million

Dino Melaye is a charismatic and influential Nigerian politician who holds the distinction of being one of the richest politicians in Nigeria. After completing his Geography degree at Ahmadu Bello University, he pursued his education and obtained a law degree from the University of Lagos. Melaye’s political journey began in 2003 when he was elected to the Kogi State House of Assembly.

In 2015, he secured a seat in the Nigerian Senate and has since gained recognition for his outspoken nature and critical stance towards the government. Throughout his tenure, Melaye has actively participated in various Senate committees, including those focused on Petroleum Upstream, Army affairs, and Local and Foreign Debt.

Dino Melaye has successfully cultivated a strong following in Nigerian politics. Known for his flamboyant style and close ties to the entertainment industry, he has captured the attention and support of many through his engaging public speaking skills and active presence on social media platforms. Melaye’s estimated net worth of $800 million primarily stems from his political career, encompassing salaries, allowances, and benefits as a legislator. Furthermore, his involvement in business ventures, particularly real estate and the entertainment industry, likely contributes to his financial success, solidifying his position as one of Africa’s richest politicians.

14. Rotimi Amaechi – $780 million

Chibuike Rotimi Amaechi is a former Minister of Transportation in Nigeria (2015 to 2022). His aspirations to become the President of the Federal Republic of Nigeria were cut short when he lost to Bola Ahmed Tinubu in the party primaries during the general election.

Amaechi served as the Governor of Rivers State for two terms, from 2007 to 2015. Prior to that, he was the speaker of the Rivers State House of Assembly from 1999 to 2007. He is believed to be worth around $780 million.

While politics plays a significant role, it is not his primary source of income. Amaechi derives his income from various sources, including business investments, particularly in the maritime and transportation sectors. He is also known for his affinity for expensive vehicles, such as the Mercedes-Maybach Vision 6, Mercedes Amg G63, Mercedes S550, Land Rover Discovery, and Lexus LX 570.

However, his wealth has faced scrutiny and allegations of improper financial practices from critics. These controversies have sparked debates regarding transparency and accountability among public officials in Nigeria.

Top 15 Richest Politicians in Africa (2023)

This is the table for the top 20 richest politicians in Nigeria. It contains their names and net worth.

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