Africa’s richest man Aliko Dangote adds $1.2 billion in early 2026 gains

Aliko Dangote began 2026 carrying the weight of a remarkable year behind him and, by early measures, little sign of easing up. After a blockbuster 2025 that lifted his net worth by $1.9 billion to $30 billion—making him the only African and the only Black individual with a fortune above that mark—Dangote has added another $1.21 billion since the start of this year.

Africa’s richest man gains $1.2 billion

According to the Bloomberg Billionaires Index, which tracks the wealth of the world’s 500 richest people, Aliko Dangote’s fortune has climbed from $30 billion on Jan. 1 to $31.2 billion at the time of drafting this report, further entrenching his position as Africa’s richest man.

The increase is closely tied to Dangote Cement, the crown jewel of Dangote Industries Limited, Africa’s largest and most diversified manufacturing and industrial conglomerate. Dangote owns 87.45 percent of the cement maker, and the company’s recent share price gains on the Nigerian Exchange have translated directly into higher personal wealth.

Dangote Cement rallies ahead of annual results

Since the start of the year, Dangote Cement’s shares have risen 11.6 percent, moving from N609 ($0.44) on Jan. 1 to N680 ($0.49). That rise has pushed the company’s market cap to N11.28 trillion ($8.27 billion) and lifted the value of Dangote’s stake to N9.87 trillion ($7.23 billion). Investors have been positioning ahead of the release of Dangote Cement’s full-year 2025 results, with expectations shaped by a strong nine-month performance.

The company, which remains Africa’s largest cement producer with installed capacity of 55 million tonnes per annum across the continent—35.25 million tonnes of that in Nigeria—reported a 23.2 percent jump in revenue to N3.15 trillion ($2.31 billion) for the nine months to September 2025. EBITDA rose 57.2 percent to N1.43 trillion ($1.05 billion), while profit after tax surged 166.3 percent to N743.3 billion ($546 million).

Competition intensifies despite export growth

Operationally, the picture was mixed. Volumes declined by 2.1 percent to 20.2 million tonnes, reflecting pressures in some markets. At the same time, the group stepped up its regional footprint, dispatching 27 ships of clinker from Nigeria to Ghana and Cameroon. Nigeria cement and clinker exports increased 23 percent to 1.1 million tonnes, and the company delivered an additional 1,600 compressed natural gas trucks as part of efforts aimed at cost savings.

Dangote Cement’s dominant position in Nigeria is increasingly being tested. Lafarge Africa recently announced plans to expand capacity at its Ashakacem plant in Gombe State and its Sagamu plant in Ogun State, moves that will lift Ashakacem’s output to 2 million tonnes a year from 1 million and increase Sagamu’s capacity to 3.5 million tonnes from 2 million. These plans follow BUA Cement’s push to raise its capacity to 20 million tonnes through a $240 million expansion that includes a new power plant and supporting infrastructure.