The number of billionaires in Africa has dropped from 23 in 2015 to 21 and their networth has also dropped from $79.8 billion to $70 billion, according to Forbes magazine.
Forbes this year only released a billionaire’s list abandoning its Africa’s 50 richest people.
There were 28 African billionaires in 2014.
The billionaires are from only seven countries: Algeria, Angola, Egypt, Morocco, Nigeria, South Africa and Tanzania.
Nigerian Aliko Dangoke remains the richest man but his fortune has dropped by nearly $5 billion to $12.1 billion. There are two other Nigerian billionaires.
South Africa and Egypt are tied at six billionaires each, followed by Morocco with three and one each for Algeria, Angola and Tanzania.
According to Forbes 13 out of the 21 billionaires have self-made fortunes, while the other eight inherited their fortunes.
Only two of the billionaires are female: Angola’s Isabel dos Santos -Africa’s richest woman with a $3.2 billion fortune, and Nigeria’s Folorunsho Alakija.
Tanzania’s Mohammed Dewji is Africa’s youngest billionaire at 41.