Africa has 55 billionaires

Aliko  Dangote

Nigeria's Aliko Dangote

Nigeria-based Ventures financial magazine says Africa has 55 billionaires, way more than previously thought. 

According to Ventures, with a fortune of $20.2bn (£12.5bn), Nigeria's Aliko Dangote is the richest African man.

The list includes three women. The richest woman is Nigeria's Folorunsho Alakija who made her $7.3bn fortune mainly in the country's oil industry. She is joined by Ngina Kenyatta, the mother of Kenya's President Uhuru Kenyatta, and Isabel Dos Santos the daughter of Angola's president.

The magazine estimated the 55 billionaires' combined fortunes at $143.88bn, an average of a $2.6bn per person.

Of the 55, 20 are Nigerian, nine are South African and eight are Egyptian, Ventures said.

Ventures listed Harvard-trained businessman Allan Gray as South Africa's richest man, with a fortune of $8.5bn.

Nathan Kirsh, a property tycoon in the tiny kingdom of Swaziland, is also on the list. He is worth $3.6bn, and has business interests in London and New York, Ventures said.

Ventures editor-in-chief Oozo Eewala told the BBC's Focus on Africa radio programme that its estimate of 50 billionaires was probably conservative.

Read the full story here and here