Sudhir Ruparelia, has been knocked off the list of African billionaires, according to details published by Forbs.
The property and former banking mogul’s net worth, according to Forbes, fell to about $900m in 2016 up from $1.1b in 2015.
Tanzanian business Mohammed Dewji is East Africa’s richest man. He effectively replaced Sudhir about two years, whose fortune could have been afflicted by rough economic tide and the eventual takeover of his bank.
Crane Bank was at the close of last year taken over by Bank of Uganda having fallen below the required Shs24b minimum capital requirement. Its assets and reliabilities were last week transferred to Dfcu Bank pending a forensic audit and eventual liquidation.
Dewji, 41, closed off the 24 list of richest Africans with a net worth of $1.09b, while Sudhir slid into position 27.
The list also reduced from 28 billionaires to 24, highlighting a tough year that 2016 could have been.
Dewji is the youngest billionaire having debuted the club of richest Africans last year with a $1.3b fortune.
His fortune is said to have been cut back by a weak Tanzanian shilling that affected many of his business interests in textiles, edible oils and transportation under the Metl Group conglomerate.
The biggest gainers, according to Forbes were Mike Adenuga, a Nigerian businessman who is now worth $10b, up from $4b a year ago.
Angolan investor Isabel dos Santos, daughter of Angolan president and oil tycoon Folorunsho Alakija of Nigeria remain the only two female billionaires in Africa.
Aliko Dangote, 59, a Nigerian businessman, with interests in cement, sugar and flour, remains Africa’s richest man with a $14.4b fortune.
Africa’s 24 richest people:
Aliko Dangote, Nigerian
Net worth: $14.4 billion
Source of Wealth: Cement, flour, sugar, salt
Mike Adenuga, Nigerian
Net Worth: $10 billion
Source of Wealth: Telecom, Oil, Real Estate
Nicky Oppenheimer, South African
Net Worth: $6.6 billion
Source of Wealth: Diamonds
Christoffel Wiese, South African
Net Worth: $6.2 billion
Source Of Wealth: Retailing
Johann Rupert, South African
Net Worth: $5.3 billion
Source of Wealth: Luxury Goods
Nassef Sawiris, Egyptian
Net Worth: $4.1 billion
Source of Wealth: Construction, Chemicals
Nathan Kirsch, Swazi
Net Worth: $3.7 billion
Source of Wealth: Retail
Isabel dos Santos, Angolan
Net Worth: $3.1 billion
Source of Wealth: Investments
Issad Rebrab, Algerian
Net Worth: $3.1 billion
Source of Wealth: Food
Naguib Sawiris, Egyptian
Net Worth: $3 billion
Source of Wealth: Telecom
Mohammed Mansour, Egyptian
Net Worth: $2.5 billion
Source of Wealth: Diversified
Othman Benjelloun, Moroccan
Net Worth: $1.9 billion
Source Of Wealth: Banking, Insurance
Mohamed Al Fayed, Egyptian
Net Worth: $1.9 billion
Source of Wealth: Retailing
Femi Otedola, Nigerian
Net Worth: $1.85 billion
Youssef Mansour, Egyptian
Net Worth: $1.73 billion
Source: Diversified
Folorunsho Alakija, Nigerian
Net Worth: $1.55 billion
Source of Wealth: Oil
Allan Gray, South African
Net Worth: $1.49 billion
Source of Wealth: Money Management
Koos Bekker, South African
Net Worth: $1.47 billion
Source of Wealth: Media, Investments
Yasseen Mansour, Egyptian
Net Worth: $1.39 billion
Source of Wealth: Diversifie
Aziz Akhannouch, Moroccan
Net Worth: $1.25 billion
Source of Wealth: Petroleum, Diversified
Patrice Motsepe, South African
Net Worth: $1.15 billion
Source of Wealth: Mining
Abdulsamad Rabiu, Nigerian
Net Worth: $1.1 billion
Source of Wealth: Diversified
Onsi Sawiris, Egyptian
Net Worth: $1.09 billion
Source of Wealth: Construction, Telecom
Mohammed Dewji, Tanzanian
Net Worth: $1.09 billion
Source of Wealth: Diversified
