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The Globally acclaimed Forbes list which was released on Wednesday revealed that there were 'fewer and poorer billionaires' in the continent of Africa.

Forbes reported that the number of African Billionaires dropped to 20 from the 23 that made the list the previous year, reasons caused by plunging stock prices and weaker currencies. Four people fell from the list while one was used to replace them.

The number one on the list,  Nigeria's Aliko Dangote, also became poorer, dropping a whooping $2 billion dollars from his estimated worth last year. The decline is reportedly due to a roughly 20% drop in the stock price of Dangote Cement, his most valuable asset.

However, Mike Adenuga,  the owner of Globacom and other chains of investments emerged as the second on the list, rising from $5.3 billion to $9.2 billion in the space of a year.

The third person on the list,  a South African named Nicky Oppenheimer also declined from $7.7 billion to $7.3billion in the space of a year.
Equally, the vibrant Nigerian Woman, Folorunsho Alakija made the list sitting on the 19th position. Forbes also reported that there was a decline in her wealth due to the decrease in the value of one of Nigeria's most productive oil fields.

Nigeria's cement mogul, Abdulsamad Rabiu returned to the list at number 16, for the first time since 2015.
Three other South Africans: Desmond Sacco, Christoffel Wiese, and Stephen Saad all fell off this year's list, the fourth person being Onsi Sawiris of Egypt.

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