Richest African Tech Millionaires And Their Net Worth In 2023 [Top 10]

Many entrepreneurs across Africa have recognized the profitability of investing in the tech industry. In this article, we will explore the top 10 African tech millionaires who have achieved great success through their tech companies or investments in established tech firms. These individuals have made significant contributions to the African tech landscape and have amassed impressive fortunes along the way.

Richest African Tech Millionaires And Their Net Worth

10. Naushad Merali

  • Net Worth: $370M
  • Source of Wealth: Founder of Sameer Conglomerate
  • Date of Birth: 2 January 1951
  • Country: Kenya

Kenyan businessman Naushad Merali is the founder of the Sameer Conglomerate, which holds shares in 15 companies spanning various sectors, including agriculture and information technology. Merali’s notable involvement in the telecommunications industry includes his former chairmanship of Bharti Airtel Kenya and his current ownership of 5% of the company’s shares. His astute management of the Sameer Conglomerate portfolio has contributed to his wealth.

9. Oba Otudeko

  • Net Worth: $550 million
  • Source of Wealth: Founder and Chairman of Honeywell Group
  • Date of Birth: 18 August 1943
  • Country: Nigeria

Nigerian entrepreneur Oba Otudeko, at the age of 73, is the founder and chairman of the Honeywell Group, an investment conglomerate with significant holdings in various industries in Nigeria. As the chairman of Airtel Nigeria, a telecommunications services company, Otudeko has solidified his position in the African tech industry. His wealth and success stem from his ventures in manufacturing, telecoms, and other sectors.

8. Hakeem Belo-Osagie

  • Net Worth: $600 million
  • Source of Wealth: Chairman of Etisalat Nigeria
  • Date of Birth: 1955
  • Country: Nigeria

Hakeem Belo-Osagie, a Nigerian businessman, has established himself as a prominent figure in Nigeria’s tech industry. As the chairman of Etisalat Nigeria, one of the largest mobile telecom networks in the country, Belo-Osagie plays a crucial role in shaping the telecommunications landscape. He is also the chairman of FSDH, a leading financial firm in Nigeria, and Duval Properties, a real estate company.

7. Tunde Folawiyo

  • Net Worth: $650 million
  • Source of Wealth: Owner and Executive Director of Yinka Folawiyo Group
  • Date of Birth: 12 April 1960
  • Country: Nigeria

Nigerian entrepreneur Tunde Folawiyo inherited his position as the owner and executive director of Yinka Folawiyo after his father’s passing in 2008. The group holds major stakes in diverse companies, ranging from agriculture to real estate. Additionally, Folawiyo’s directorship in MTN Nigeria and his shares in the business have contributed to his high net worth.

6. Rostam Azizi

  • Net Worth: $900 million
  • Source of Wealth: Founder of Calvary Holdings
  • Date of Birth: 21 August 1964
  • Country: Tanzania

Tanzanian businessman Rostam Azizi became the first billionaire in Tanzania in 2013. Through his company Calvary Holdings, Azizi held a significant stake in Vodacom Tanzania, the largest mobile company in the country. His diversified portfolio includes investments in mining and real estate, with Caspian Mining being one of his notable mining interests. Azizi’s wealth positions him as one of the prominent millionaires in the African tech industry.

5. Strive Masiyiwa

  • Net Worth: $1.8 billion
  • Source of Wealth: Founder and Owner of Econet Wireless Zimbabwe
  • Date of Birth: 29 January 1961
  • Country: South Africa

Strive Masiyiwa, a South African businessman, is the founder and owner of Econet Wireless Zimbabwe, the largest mobile phone network in Zimbabwe. Masiyiwa’s determination to obtain an operating license for Econet led to a landmark court battle that resulted in his victory. He later expanded his business interests by establishing the Econet Wireless Group, which holds investments in telecommunications and other companies across Africa and beyond.

4. Koos Bekker

  • Net worth: $2.5 billion
  • Source of Wealth: Former CEO of Naspers
  • Date of Birth: 14 December 1952
  • Country: South Africa

Koos Bekker, formerly the CEO of media giant Naspers, played a pivotal role in transforming the company into a multinational powerhouse. Under his leadership, Naspers made strategic investments in pay television, mobile networks, and internet service companies such as Tencent Holdings, one of China’s largest internet firms. Bekker’s unconventional approach of collecting stocks instead of a salary has contributed to his vast wealth.

3. Naguib Sawiris

  • Net worth: $3.3 billion
  • Source of Wealth: Founder of Orascom Telecom Media and Technology Holding
  • Date of Birth: 15 June 1954
  • Country: Egypt

Egyptian billionaire Naguib Sawiris has made a name for himself in the tech industry through his company, Orascom Telecom Media and Technology Holding. Sawiris has transformed Orascom into one of Egypt’s largest conglomerates, with holdings in the railway, information technology, and telecommunications sectors. His strategic business ventures have propelled him to become one of the richest individuals in the African tech scene.

2. Mike Adenuga

  • Net worth: $3.6 billion
  • Source of Wealth: Founder of Globacom
  • Date of Birth: 29 April 1953
  • Country: Nigeria

Nigerian entrepreneur Mike Adenuga is not only the third richest man in Africa but also the second richest in the African tech sector. As the founder of Globacom, the second-largest mobile network in Nigeria, Adenuga has successfully expanded his operations to Ghana and the Republic of Benin. Additionally, his ownership of Conoil Production, an oil exploration firm, further contributes to his substantial wealth.

1. Mohamed Mansour

  • Net worth: $3.6 billion
  • Source of Wealth: Chairman of Mansour Group
  • Date of Birth: January 1948
  • Country: Egypt

Mohamed Mansour, hailing from Egypt, is the chairman of Mansour Group, the second-largest revenue-generating company in Africa. With significant interests in tech companies across various continents, Mansour has established himself as one of the wealthiest individuals in the African tech industry.

Richest African Tech Millionaires And Their Net Worth, 2023 [Top 10]

1Mohamed Mansour$3.6 billionChairman of Mansour Group
2Mike Adenuga$3.6 billionFounder of Globacom
3Naguib Sawiris$2.9 billionFounder of Orascom Telecom Media and Technology Holding
4Koos Bekker$2.4 billionFormer CEO of Naspers
5Rostam Azizi $1 billionFounder of Calvary Holdings
6Tunde Folawiyo
$650 millionOwner and Executive Director of Yinka Folawiyo Group
7Hakeem Belo-Osagie$600 millionChairman of Etisalat Nigeria
8Strive Masiyiwa$600 millionFounder and Owner of Econet Wireless Zimbabwe
9Naushad Merali$550 millionFounder of Sameer Conglomerate
10Oba Otudeko
$550 millionFounder and Chairman of Honeywell Group


Who is the richest tech millionaire in Africa?

Mohamed Mansour, with a net worth of $4 billion, is currently the richest tech millionaire in Africa.

Which African country has the most tech millionaires?

Nigeria has the highest number of tech millionaires in Africa, with a thriving tech ecosystem and numerous successful startups.

How did these tech millionaires accumulate their wealth?

These tech millionaires accumulated their wealth through successful tech companies, strategic investments, and ventures in various sectors, including telecommunications, media, and real estate.

What is the future outlook for the African tech industry?

The African tech industry has immense potential for growth, with increasing investments, government support, and a rising number of innovative startups. The future looks promising for the sector.


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