Abdulsamad Rabiu is Africa's Third Richest Man
Last update: March 10, 2026
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The Nigerian Billionaire stormed into the list of top three money bags on the African continent.
CBI News reports that Nigerian business mogul Abdulsamad Rabiu has risen to become Africa’s third-richest person, according to the Forbes 2026 billionaires ranking.
Rabiu’s net worth surged 120% to $11.2 billion, driven largely by a 135% rise in shares of BUA Cement, the flagship company of his BUA Group conglomerate. The billionaire’s growing fortune reflects strong investor confidence in Nigeria’s cement and infrastructure sector.
Here are Forbes' top three richest people in Africa:
- 1. Aliko Dangote- $28.5 billion, Nigeria - Diversified business empire including cement, sugar, and oil refinery
- 2. Johann Rupert & Family - $16.1 billion, South Africa - Luxury goods and investments, notably Richemont (Cartier, Montblanc)
- 3. Abdulsamad Rabiu- $11.2 billion, Nigeria - Cement, manufacturing, and diversified interests, driven by BUA Cement's strong performance
Africa's billionaires saw a 21% increase in wealth, with the top 23 worth $126.7 billion combined.
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