Top 10 Richest Presidents In The Africa By Net Worth 2020- Africa, is one of the richest continents in terms of natural resources but unfortunately, this does not translate to wealth for its over 1 billion inhabitants as the wealth of the continent is mostly concentrated in the hands of few. Politics in Africa is a do or die affair as it is believed generally that holding political office is the quickest way to get rich. It is indeed very sad that despite the abundance of resources on the continent, Africa is still plagued by extreme poverty as a large percentage of Africans barely manage to survive daily. There is also the lack of proper and basic amenities that will improve the living standard of the majority of the inhabitants of the continent. Despite the obvious challenges faced by Africans, African leaders seem to be getting richer daily. Politicians are some of the wealthiest individuals in Africa today. So who are the Richest African Presidents 2020? Find out below.
TOP 10 RICHEST PRESIDENTS IN THE AFRICA BY NET WORTH 2020- ALL YOU NEED TO KNOW ABOUT THEM
- #1. Mohammed VI of Morocco
- Country: Morocco
- Net Worth: $2.5 billion
Topping this list is the Morrocan Monarch who is also the leader of the country. He was born in the month of August, 1963 in the city of Rabat, the capital of Morocco. He ascended the throne following the death of his father and has been ruling the North African nation for over 15 years now. He is today the most educated ruler in Africa, as he obtained degrees from several prestigious institutions worldwide. This is because his late father, King Hassan II raised him to take over the affairs of the country after him and this is why he invested so much in his education. After he ascended the throne of his ancestors, Mohammed VI promised the Moroccans that he will tackle poverty and corruption in the country and also reduce the rate of unemployment. He also promised to improve human rights status which is demeaned in the country. Fortunately, he has kept his promise so far as the monarch is leaving no stone unturned in order to ensure most of these promises are kept. His actions have earned him the title “the defender of the poor”.
- #2. President Ali Bongo Ondimba
- Country: Gabon
- Net Worth: – $2 billion
Second on this list is Ali Bongo Ondimba, the President of Gabon. He has been ruling Gabon for the last 10 years, having assumed office in the month of October 2009. Gabon is ranked as the fifth largest oil producer in Africa which means the economy of the country is largely dependent on crude oil export. Despite the abundance of oil in the country, poverty is still a menace as a lot of Gabonese people live below the poverty line. Their president however lives large as it was reported by Daily Mail that the president spent around $129 million for a mansion in Paris.
- #3. Teodoro Obiang Nguema Mbasogo
- Country: Equatorial Guines
- Net Worth: – $600 million
President Teodoro of Equatorial Guinea was born on the 5th of June, 1954 to Santiago Nguema Eneme, his father and María Mbasogo Ngui who is his mother in the city of Acoacán, Guinea. For the past 34 years, President Teodoro has been ruling Equatorial Guinea, after leading a military coup that ousted his uncle from office in 1979. A large chunk of the wealth of the Equatorial Guinea President is believed to have been acquired illegally through looting and plundering of the oil-rich nation. A country is still neck deep in extreme poverty as over 50% of its citizen’s lice below the poverty line. According to report, the son of the president is living large as he has a $35-million estate built in Malibu along with three Buggati Verona valued around $1.7-million.
- #4. Paul Kagame
- Country: Rwanda
- Net Worth: – $500 million
Rwandan President, Paul Kagame is 4th on this list and he is today, one of the famous African Presidents. Kagame is the 6th President of Rwanda, having taken the office in the year 2000. He was born in Ruanda-Urundi on the 23rd day of October, 1957. He enlisted in the military and was a soldier in the Armed Forces prior to joining politics. He was actively involved in the process of ending the Rwandan Genocide in 1994. This he was able to achieve as he was the leader of the Rwandan Patriotic Front that invaded Rwanda to put an end to the killing of the Tutsis by the Hutus. Paul Kagame is taking giant strides in developing Rwanda and taking his country far away from its darkest period. His style of leadership has however been questioned and criticized heavily by global watchdog organizations particularly the Amnesty International, who claim that Kagame’s leadership and his regime do not allow for freedom to oppose his role and also organize parties as a result.
- #5. Uhuru Kenyatta
- Country: Kenya
- Net Worth: – $500 million
The 4th president of Kenya, President Uhuru Muigai Kenyatta was born on the 26th of October, 1961. He became the president of Kenya on the 9th of April 2013. Uhuru Kenyatta is no doubt one of the richest men in Kenya. Prior to taking the number one office in the land, he served in the Kenyan Government as the Minister for Local Government from 2001 to 2002. The bulk of his wealth comes from the real estate industry as he owns over 500,000 acres of land in Kenya. Apart from real estate, other sources of money for the Kenyan leader include media companies, hotels, banks and several others.
- #6. Paul Biya
- Country: Cameroon
- Net Worth: $200 million
Cameroonian President, Paul Biya is the 6th Richest African President In 2020. He became the President of Cameroon in 1982 and has been in office for 37 years now. President Biya was born on the 13th of February 1933 in Mvomeka’a. He has been married twice. His first wife Jeanne-Irène Biya died on the 29th of July 1992 after which he married Chantal Biya on the 23rd of April 1994. President Biya is acknowledged as the richest man in Cameroon. It was reported that he lives an expensive and lavish lifestyle and spends about $40,000 on accommodation alone when he goes on vacation. Also, he has houses, investments, and business spread around different countries in the world. Biya is said to run an autocratic rather a democratic leadership style in his administration of the country and citizens are said to be getting tired of his administration.
- #7. President Isaias Afwerki
- Country: Eritrea
- Net Worth: $120 million
Eritrean president Isaias Afwerki is next. He has ruled Eritrea since the country gained independence in 1993. His style of leadership has been seriously questioned as he rules using a draconian style of government. This report is backed with allegations of violations of human rights levelled against him by the United Nations and Amnesty International. He oversees the finance of the nation and this had led to him having so much money despite the poor state of his country.
- #8. President Hage Geingob
- Country: Namibia
- Net Worth: $110 million
President Geingob is the first president of Namibian to publicly declare the wealth of himself and his wife. It was put to be in the region of $111 million. The source of income for the Namibian President apart from his salary and allowances include investments, properties, and also livestock. His wealth includes an art collection valued at N$2-million, gold, gems, jewelry, and also furniture.
- #9. King Mswati III
- Country: eSwatini
- Net Worth: $100 million
King Mswati III, ruler of the landlocked kingdom located in Southern Africa is the eight African ruler. The ruler of Africa’s last absolute monarchy state has been in office for over 30 years. Poverty is strife in the country with over 60% of citizens living below the poverty line but King Mswati is extremely rich. He is a lavish spender and lives and expensive lifestyle despite criticism. He has 15 wives, each of which lives in her own apartment. King Mswati has a total of 13 palaces, fleets of Mercedes and BMW cars including at least one Rolls Royce and a Maybach 62 valued at $500,000. He also has a $17 million private jet.
- #10. President Joseph Kabila
- Country: DR Congo
- Net Worth: $70 million
Last on this list of Richest Presidents In Africa 2020 is the President of DR Congo. He took office in 2001 following the assassination of his late father President Laurent-Désiré Kabila who was president of the country at that time. Joseph Kabila is believed to have several investments in Congo. One of the major challenges Joseph Kabila has been facing is the continuous wars being fought in the Eastern part of Congo and this has led to the weakening of his government.
Conclusion On Top 10 Richest Presidents In The Africa By Net Worth 2020- All You Need To Know About Them
This is where we wrap it up on this list of Richest Presidents In Africa 2020.
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