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The 3 Richest Kings In Africa

When people talk about the history of black people in America, we often hear about stories of the slave trade and post slavery. Rarely do we hear stories about the Kings and Queens that graced the motherland with an elite education systems, thriving economies, and spiritual rituals practiced by certain tribes and countrymen.  But wait, many people do not realize, there are still Kings and Queens in Africa in this Present Day. Let's take a few minutes and observe a few Kings in Africa that currently rule with a mighty iron fist.

Meet the 3 richest Kings in Africa.

King Mohammed VI, Morocco
Estimated net worth: $2 billion
Source: Investments
His Majesty King Mohammed VI of Morocco is the wealthiest monarch in Africa. He derives his fortune from his control of Société Nationale d’Investissement (SNI), a large Moroccan investment holding company with assets valued at more than $10 billion. SNI’s largest asset is a 48% stake in Morocco’s largest bank, Attijariwafa, as well as controlling stakes in mass distribution giant Marjane Holding; mining company Managem Group and mobile telecoms company Inwi. The King also owns a substantial chunk of the world’s phosphate reserves. 

Oba Obateru Akinrutan, Ugbo Land, Nigeria
Estimated net worth: $300  million
Source: Oil
Oba Obateru Akinrutan is the Olugbo (traditional King) of Ugbo land, a small oil-rich community in Ondo state, in Nigeria’s southwestern region. Oba Akinrutan, who ascended the throne in 2009, is also the founder of Obat Oil, one of Nigeria’s largest privately-held oil trading companies. He founded the company in 1981 with a single gas station to meet the needs of his family and neighboring community. OBAT Oil now owns more than 50 gas stations across Nigeria as well as one of the largest tank farms in Africa- a modern storage facility that has the capacity to store 65 million liters of petroleum products.

Oba Okunade Sijuwade, Ile-Ife, Nigeria
Estimated net worth: At least $75 million
Source: Construction, Property, Oil

Alayeluwa Oba Okunade Sijuwade, Olubuse II, is the traditional King (Ọọ̀ni) of Ile-Ife’, an ancient city located in Osun state in Nigeria’s south-western region. Ile-Ife is generally believed to be the traditional home of the Yoruba civilization. Oba Sijuwade, 84, who ascended the throne in 1980, is also a prosperous businessman. The Ọọ̀ni firstcut his teeth in business by working in his father’s trading business as a teenager before going to the United Kingdom to study for a degree in business. Upon his return back to Nigeria, he worked as a manager for the Leventis Group and as a sales executive for National Motor. He struck out on his own in 1964, when he started WAATECO, an automotive distribution business that imported vehicles and vehicle parts from the Soviet Union to sell in Nigeria. 

The King now owns stakes in two onshore oil blocks in partnership with London-listed energy giant Centrica CPYYY +% PLC as well as a construction outfit that handles large-ticket road construction projects in Nigeria and was awarded a concession by the Federal Government to construct and manage a tollgate along the Ibadan-Ife dual carriageway- one of the major vehicular routes in Nigeria. The King also owns several residential properties in Nigeria and the U.K.

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