Africa is considered the second largest continent in the world. It is also the second world’s most populous continent. Unfortunately, it’s considered the poorest continent in the world, but that doesn’t mean everyone in Africa is poor. There are several African countries that have embraced democracy and abandoned monarchies headed by kings. However, there are still some countries ruled by kings in Africa, such as Swaziland, Lesotho and Morocco. It is important to first point out that African leaders and kings are some of the few richest people in Africa.
To be recognized as a traditional king in Africa is a very rewarding affair. They not only have power and control over a region, but also spiritual, economic and social control over the people. The following five kings are the richest in Africa:
1. Otumfuo Osei Tutu, Ashanti, Ghana – $10 million
Otumfuo Osei is the ruler of the Ashanti Kingdom gold kingdom in Ghana. He came to power in 1999 and ruled as the political and spiritual leader of the Asante people, the country’s largest ethnic group. He founded a $12 million distribution company, Transpomech Ghana, in 1989 after working in several private and public organizations in the UK and Canada. This company provides mining equipment to numerous large industrial and manufacturing companies in Ghana. He also owns widespread properties in Ghana and also in South Africa. He also owns a collection of precious gold crown jewels. His net worth is estimated at $10 million.
2. Alayeluwa Oba Okunade Sijuwade, Ile-Ife, Nigeria – $75m
He was the monarch (Ooni) of Ile-Ife, a very ancient city in the state of Osun in southwestern Nigeria. Oba Sijuwade Olubuse II died on 28 July 2015 at the age of 85 after a short illness in a London hospital after having lain on the throne for 35 years. He was the founder and initiator of the renowned Sijuwade Group, a Nigerian company with strong interests in oil and gas, real estate development, construction and hospitality. In partnership with Centrica Plc, a London-listed energy giant, the Sijuwade Group also owns huge interests in two onshore oil blocks and a construction company handling road construction and repair projects in Nigeria. He was also the owner of a number of residential properties in the UK and Nigeria with an estimated net worth of at least US$75 million.
3. King Mswati III. From Swaziland – $100 million
King Mswati is one of the richest of the continent’s royals. King Mswati III. Controls Tibiyo TakaNgwane, a large holding company that holds large stakes in two major sugar manufacturers. the Royal Swaziland Sugar Corporation and Ubombo Sugar. The Tibiyo Investment Company also has interests in Parmalat Swaziland, a dairy company, Swaziland Beverages, a liquor company, and Swazi Spa Holdings, a hotel chain in Swaziland. In addition to the fortune, the king will receive an annual salary of $ 61 million, paid by the state treasury, as last year. The King’s net worth is estimated to be at least $100 million.
4. Oba Obateru Akinrutan, King of Ugbo, Nigeria – $300 million
This is the traditional Monarch (Ugbolo) of UgboLand. Ugbo Land is a small oil-rich village in Ondo State in southwestern Nigeria. Oba Obateru is the founder and founder of Obat Oil, one of the leading privately held oil trading companies in Nigeria. Obat Oil currently owns over 50 petrol stations across Nigeria and is one of the largest petrol companies in Africa. In addition, King Oba Akinrutan owns a vast collection of prime residential and commercial properties in Nigeria and London. For example, he owns the Febson Hotels and Mall in Abuja. He has an estimated net worth of $300 million.
5. King Mohammed VI From Morocco – $2 billion
The richest of all kings in Africa is King Mohammed of Morocco. Its assets are based on the control and influence of the SNI (Societe Nationale d’Invetsment), one of the leading Moroccan investment holding companies with a real estate value of over USD 10 billion. King Mohammed also owns a significant amount of the world’s phosphate reserves. It is important to note that SNI has a 48% stake in Morocco’s largest bank, Attijariwafa. In addition, SNI also controls stakes in Marjane Holding, a bulk distribution giant, Managem Group, a mining company, and Inwi, a mobile phone company. He has an approximate net worth of $2 billion.
In summary, some of the 5 richest kings in Africa have worked tirelessly for their prosperity from the ground up, starting successful businesses and investing their money in profitable businesses; while others inherited wealth from their parents and ancestors.
