It seems that being a president in Africa guarantees you riches in one way or another. At least, that’s what you will conclude by the end of the article. These presidents have a lot of wealth entitled to their names and are still the commanders-in-chief of their respective countries in Africa. Let’s have a look at these wealthy presidents.
10. Joseph Kabila
- Country: Democratic Republic of Congo
- Net worth: $70 million
Joesph took over as president of DRC from his father, who was assassinated in 2001. Many believe that he makes his riches from his political influence in the country as the commander in chief. You should remember that the DRC is a resource-rich country; it kind of makes sense to see him being well off.
9. King Mswati III
- Country: Swaziland
- Net worth: $ 100 million
King Mswati III has been in office for over 30 years. It’s kind of ironical that we are featuring him as a wealthy man when 60% of Swaziland’s population is living below the poverty line.
Just to put his wealth to perspective, he is married to 15 wives – each living in their own lavish apartment, he has 13 palaces, fleets of cars including Mercedes Benz, BMW and even a Rolls Royce. On top of that, he also owns a private jet which is reported to have been bought with public funds. Yikes.
8. Hage Geingob
- Country: Namibia
- Net worth: $110 million
He is one of the few presidents who have actually come forward to declare his wealth status. I salute him because he makes my work easier. Hage’s source of income comes from his salary, investments, properties, livestock, a priceless art collection, gold and gems.
7. Isaias Afwerki
- Country: Eritrea
- Net worth: $120 million
Fun fact, Eritrea has had only one president since independence. That president is Isaias and he is still going strong. His finances seem to agree as well. However, his source of wealth has come into question the same way his style of rule has been questioned.
6. Paul Biya
- Country: Cameroon
- Net worth: $200 million
Get this, Paul Biya has been the president of Cameroon for 37 years (since 1982). What is it with African presidents not stepping down? Plus have you noticed that the long serving presidents are the ones getting richer? I can’t be the only one seeing this.
Unsurprisingly, he is the richest man in Cameroon and reports suggest that he lives a lavish lifestyle. He owns several houses, investments and businesses in different countries around the world.
5. Uhuru Kenyatta
- Country: Kenya
- Net Worth: $500 million
Even without him serving time in the Kenyan government, Uhuru Kenyatta would have been a wealthy man. this is thanks to his family’s vast Kenyan landholdings; they own a lot of land valued at a high price.
His time in government has also attributed to his net wealth going up. What is interesting that he has no financial problems but his time as president has been faced with rising debt issues. Irony?
4. Paul Kagame
- Country: Rwanda
- Net Worth: $500 million
Oh look, another long-serving president. Paul has been the president of Rwanda since 2000. His style of leadership has been questioned and criticized by watchdog organizations.
Financial Time released a report in 2012 that asserted Paul Kagame and his family members allegedly control the majority of the Rwandan economy through a holding called Crystal Ventures. It is through this company that Paul makes his riches.
3. Teodoro Obiang Nguema Mbasogo
- Country: Equatorial Guinea
- Net worth: $600 million
40 years. He has been in office for 40 years. Let that sink in for a moment. What’s even worse is that the constitution provides Obiang sweeping powers, including the right to rule by decree, effectively making his government a legal dictatorship. In other words, he is a dictator by law.
A large chunk of his wealth is believed to have been acquired through looting and plundering the oil-rich nation. Just like King Mswati, Obiang is enjoying his riches while the country is facing abject poverty.
2. Ali Bongo Ondimba
- Country: Gabon
- Net worth: $2 billion
As I mentioned in the dictator list, there are reports that he may or may not have siphoned off 25% of his country’s GDP since assuming power. Once again, these are just speculations.
You should make time to read the top 10 richest dictators in Africa. Some of the presidents here should be in that list. What do you think?
1. Mohammed VI
- Country: Morocco
- Net worth: $2.5 billion
He took over from his father, King Hassan II who passed away. Mohammed is the most educated president in Africa obtaining different degrees from different prestigious institutions. He was fortunate to do this thanks to his family’s power and royalty.
Unlike other presidents in this list, he uses his power to eradicate poverty in the country. See? There are good people out here. He is in power and uses it for the greater good.
What do you think of this list? Are you surprised that long serving presidents are the richest of the bunch? Let us know in the comments below.