South African businessman, Johann Rupert, has displaced Nigerian Aliko Dangote as the richest man in Africa. Rupert is the chairman of a Swedish luxury good company. This was caused by the depreciation of the Naira. Now Dangote is worth $10.8 billion. The Nigerian held the top position for a decade.
The Central Bank of Nigeria devalued the Naira which affected the richest citizens. Ruppert is now on the number 1 spot on the rich list in Africa. His net worth is estimated to be $12 billion which is equivalent to Ksh. 1.68 trillion in Kenya as of June 21.
However, Aliko Dangote is likely to reclaim the top position with the commencement of operations of his new business operations.
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