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Nigeria Tops African Billionaires List

African business magazine Ventures, identifies 55 billionaires living in the continent

Ventures, a pan-African business magazine has identified far more billionaires living in the continent than previously thought. Previous estimates indicated that only 16 billionaires were working in the area, but now that figure could be over 3 times a many. Nigeria alone is reported to house 20 billionaires, including several oil barons.

Ventures founder Chi-Chi Okonjo thought they may very well be underestimating the number of mega-rich in Africa. Many business people may keep their fortunes a secret for fear of being accused of obtaining it illegally.

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