His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with Africa’s top investors and philanthropists at the Address Creek Harbour Hotel for the UAE-Africa Business Leaders meeting.
The delegation featured Aliko Dangote, Johann Rupert, Naguib Sawiris, Abdul Samad Rabiu, Patrice Motsepe, Mohammed Dewji, Tony Elumelu, and Strive Masiyiwa.
These figures have played pivotal roles in shaping Africa’s economic trajectory, spanning sectors including energy, infrastructure, agriculture, technology, and finance, particularly through major investments made this year.
Driving Africa’s Development
The sheer concentration of billionaires in one room underscored not only their individual influence across Africa but also the UAE’s capacity to convene leaders of unparalleled economic power.
Badr Jafar, Special Envoy of the Minister of Foreign Affairs for Business and Philanthropy and host of the delegation, said, “This visit brings together leaders whose decisions shape economic and social outcomes across the continent. When business, government, and philanthropy work in alignment, we unlock solutions that strengthen resilience, expand opportunity, and support long-term prosperity.”
UAE Investment Context
The meeting unfolded amid the UAE’s growing footprint in Africa, exemplified by the $1 billion AI for Development Initiative launched at the November 2025 G20 summit.
The gathering included high-profile global investors, such as Bill Gates. Sheikh Mohammed emphasized, “By working closely with partners across the continent, we aim to advance innovation, strengthen energy and food security, expand opportunity, and build pathways for more resilient, inclusive, and sustainable economies.”
Investment Trajectory for Africa’s Billionaires
This year, the investment trajectory of the assembled African billionaires has been remarkable.
Building on their long-standing influence, Africa’s richest, Aliko Dangote, pledged over $1 billion in Zimbabwe for pipelines, power generation, and a cement plant, while simultaneously expanding Nigerian fertilizer production with a $2.5 billion facility in Ethiopia.
Meanwhile, South Africa’s wealthiest, Johann Rupert, reinforced his presence in healthcare by consolidating Mediclinic’s Southern African operations.
Not to be outdone, North Africa’s richest, Naguib Sawiris, invested $100 million in electric mobility in Morocco and launched a $10 billion real estate project in the UAE. At the same time, West Africa’s second-richest, Abdul Samad Rabiu, saw his wealth rise by $2.2 billion through gains in BUA Cement and BUA Foods, alongside investments in educational infrastructure across northern Nigeria.
Extending their reach further, South Africa’s richest black entrepreneur, Patrice Motsepe, directed African Rainbow Capital into fintech ventures and TymeBank’s expansion into Asia, alongside mining projects in Australia.
In East Africa, Tanzania’s Mohammed Dewji announced plans to invest $250 million to mechanize farmland and over $130 million to expand carbonated drinks production.
Eastern Nigeria’s Tony Elumelu, a leading figure of the Afro-capitalist movement, committed $1 billion to infrastructure in Kenya, invested $150 million in the Road Infrastructure Securitisation Programme, and expanded his holdings in UBA.
Zimbabwean billionaire Strive Masiyiwa revealed a $720 million plan to build five AI data centers across Africa in partnership with Google and Nvidia, signaling a bold push into technological advancement on the continent.
Philanthropy and Social Impact
In addition to their investment activities, these leaders have significantly advanced social development across Africa.
Motsepe Foundation contributed $10 million to youth sports and education, supporting initiatives such as the CAF African Schools Football Championships.
Similarly, Masiyiwa helped launch the nearly $500 million Beginnings Fund, aimed at improving maternal and neonatal healthcare across sub-Saharan Africa.
Earlier this year, Dangote was recognized among the world’s most influential philanthropists in TIME Magazine’s inaugural TIME100 Philanthropy list.
At the same time, Elumelu donated $62 million to Lagos State’s Produce for Lagos programme and allocated an additional $15 million through the Tony Elumelu Foundation to support 3,000 African entrepreneurs with seed capital, mentorship, and training.
Meanwhile, Abdulsamad Rabiu has continued his charitable initiatives, including substantial contributions to education and social programs across Nigeria.
Rupert remains one of South Africa’s top taxpayers, providing support for public services, while the African Development Foundation implements a $100 million nutrition program to address severe malnutrition among children in Nigeria.
Reflecting on the summit, Elumelu highlighted the experience on social media: “A day well spent in Abu Dhabi, great meetings, great people, wrapped up with an amazing F1 finish.”
