The common talk is that politics in Africa is the fastest way to make money. True, corruption scandals often back that up, but that’s not the whole picture. Some of the continent’s biggest leaders were already multimillionaires—even billionaires—long before stepping into public office. They built empires in oil, banking, mining, brewing, logistics, and telecoms before chasing political power.
Take South Africa’s Cyril Ramaphosa, who created Shanduka Group into one of the country’s strongest Black-owned investment firms, worth about $450 million before returning to politics. In Benin, Patrice Talon, popularly called the “King of Cotton,” had already amassed $400 million through cotton and logistics before becoming president in 2016.
Morocco also has its billionaire politicians. Aziz Akhannouch, the prime minister, controls Akwa Group and sits on a $1.5–1.6 billion fortune. His countryman Moulay Hafid Elalamy sold his insurance empire for over $1 billion before serving as trade and industry minister. These men walked into politics not looking for wealth but already carrying it.
Nigeria, as expected, has its share. Atiku Abubakar co-founded oil logistics giant INTELS and cashed out over $100 million. Peter Obi, the businessman-turned-politician, built Next International and chaired Fidelity Bank before becoming Anambra’s governor. Oyo State’s Seyi Makinde declared assets worth ₦48.15 billion on taking office, while Enugu’s Peter Mbah made his fortune with Pinnacle Oil & Gas.
Elsewhere, Kenya stands out with Uhuru Kenyatta, who inherited his family’s vast empire worth around $500 million. Tabitha Karanja shook up Kenya’s brewing industry with Keroche Breweries before entering politics, while SportPesa’s co-founder Ronald Karauri made the jump from business to parliament. Lesotho’s Sam Matekane and Zambia’s Hakainde Hichilema also carried their business success into government.
From Tanzania’s Rostam Aziz to South Africa’s Tokyo Sexwale, the list goes on. These stories flip the usual narrative: not every African leader comes to politics for wealth. Many walked in already rich, using financial independence as leverage to shape governance and influence ambition across the continent.
