South African displaces Dangote as Africa’s richest

President Dangote Group, Aliko Dangote, has been overtaken as African richest man after his net worth dropped by 20.7 per cent. It was amid the naira devaluation implemented by the Central Bank of Nigeria (CBN), Forbes Billionaire Ranking released yesterday reveals. Dangote now ranks the second on the continent after South African billionaire, Johann Rupert dislodged him to number one on the list. President Dangote Group, Aliko Dangote CBN had devalued the naira, causing the value to drop by 40.5 per cent. The naira to dollar exchange rate closed Friday’s trading with N663.04/$1, up from N471.67/$1 on Tuesday, as a…