This is true for the top 10 richest African kings. The class of ruler earn their wealth from taxes, donations, inheritance, and businesses.
In this article, we look at top 10 richest African kings and the sources of their wealth.
According to reliable sources, eSwatini is the only absolute monarch in Africa. There are many kingdoms in Africa. Majority are in West Africa.
- King Mohammed VI of Morocco – USD $2 billion
The King of Morocco is a member of the Alaouite dynasty who was born on 21st August 1963. He was crowned King on July 1999 upon the death of King Hassan II.
King Mohammed VI has an estimated wealth of $2 billion. He is the richest king in Africa. His palace operates on a budget of $960,000 every day.
The king is a successful businessman in Morocco with interests in banking industry. The royal family is the majority shareholder in Societe Nationale d’Investissement.
This is the largest holding company with diverse interests. King Mohamed also owns large tracts of land and is a large-scale farmer in Morocco. King Mohamed owns mines which produces phosphate.
- Oba Fredrick Obateru Akinrutan of Ugbo Land Nigeria – USD $300 million
The second richest African King is Oba Fredrick Obateru Akinrutan from Nigeria. The king was born in 1950 and became king in 2009. His wealth is estimated to be $300 million. He is the second richest royalty. The king owns Obat Oil which is one of the leading private oil companies in Nigeria. The king also owns real estate properties (residential and commercial) in London and Nigeria.
- Sultan Sa’adu Abubakar III of Sokoto – $100 million.
Sultan Sa’adu of Sokoto was born on 24th August 1956. He served in the military for 29 years before his retirement in 2006 as a Brigadier general. In November 2006 he ascended to the throne as the 20th Sultan of Sokoto following the death of his father Sultan Miccado. Sultan Sa’adu is the head of Islamic religion in Nigeria.
- King Mswati III of Swaziland – $50 million
King Mswati III of eSwatini was born on 19th April 1968 in Manzini. He ascended to the throne on 25th April 1986 at 18 years old. At the time he became the youngest king in the world. He is the only absolute monarch in the world. The king receives an annual salary of $50 million. This is deducted from taxes. The king is in charge of investment holding company known as Tibiyo TakaNgwane that is valued at over $140 million. He holds the company in trust on behalf of the eSwatini citizens. The king is polygamous with over 15 wives as of 2020.
- Obi Nnaemeka Alfred Ugochukwu Achebe of Onitsha Nigeria – $50 million.
Nnaemka Alfred was born on 14 May 1941 and ascended to the throne on May 2002. He serves as the Chancellor of Ahmed Bello University. He also serves as the chairman of the board of directors of Unilever Nigeria. Further he serves as the chairman of International Breweries in Nigeria.
- Oba Rilwan Akiolu of Lagos Nigeria – $40 million.
Oba Rilwan Akiolu born on 29th October 1943 and was crowned as the 21st Oba of Lagos in May 2003. The Oba graduated with a law degree from University of Lagos. For 32 years he served in the Nigerian Police when he attained the position of Assistant Inspector General.
- Otumfuo Osei Tutu II of Ashanti Ghana – $40 million
Otumfuo Osei Tutu II of Ashanti Ghana has invested in gold, real estate and provides mining equipment in Ghana. His name at birth was Nana Barima Kwaku Duah. He was born on May 6, 1950. He commenced his rule as the Asantehene of the Ashanti people on 26th April 1999. The king is the Chancellor of Kwame Nkurumah University of Science and Technology in Ghana. He is the Sword Bearer of the United Grand Lodge of England. In the 1980s, the king established a mortgage finance company named Primoda Financial Services Ltd. The company is in Northwest London. In 1989 he established Transpomech International Limited which has mining operations and provides mining equipment to other companies. The king owns a large collection of crown jewels and owns real estate properties in Ghana and South Africa.
- Togbe Afede XIV of Asogli State Ghana – $30 million
Togbe Afede XIV of Asogli in Ghana was born on April 23, 1957. At the time he was known as James Akpo. The king graduated with an MBA from Yale School of Management. He also holds a Business Administration from University of Ghana.
Togbe Afede XIV is the executive chairman of World Trade Centre in Accra. He is also the board member of numerous other companies. He founded SAS Finance Group Ltd which is made up of Strategic African Securities Ltd, SAS Investment Management Ltd and Strategic Initiatives Ltd. He co-founded Africa World Airlines Ltd, Databank Financial Services and Asogli Power Ghana Ltd. The king is the majority shareholder in Accra Hearts of Oak FC.
- King Osagyefuo Nana Amoatia Ofori Panin of Akyem Abuakwa Ghana – $28 million
Nana Amoatia ascended to the throne as the 35th king on 4th October 1999. This was after the death of the former king Osagyefuo Kuntunkununku II. Since he became king, he has been advocating for economic development of Akyem kingdom.
- King Goodwill Zwelithini of Zulu South Africa – $19 million
King Goodwill serves the Zulu people of South Africa and gets an allowance of $6 million every year and grants from the state. He ascended to the throne in 1968 following the passing on of his father King Cyprian Bhekuzulu.
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