Vimal Shah, who is the chief executive of Bidco Oil Refineries with net worth of $1.6 billion, is ranked 18th among Africa’s 50 richest men. Bidco Oil Refineries complex is the largest manufacturer of cooking oil in east and central Africa. Bidco also manufactures detergents, soaps, baking powder and canola.

Sudhir Ruparelia, who has a net worth of $1.1 billion, is ranked 24th in the list. Ruparelia group is an Ugandan property and banking conglomerate that owns hundreds of properties, hotels and a chain of foreign exchange bureax.

Naushad Merali, who has a net worth of $430 million, is ranked 48th and is the founder of the Sameer group, a Kenya-based conglomerate with interests in construction, agriculture, information technology, telecom and finance.

According to Forbes the net worth are calculated using stock prices and exchange rates as on November 1, 2013.

Top on the list is Aliko Dangote of Nigeria with a fortune of $20.8 billion, $8.8 billion more than in the previous year. He topped the list for the third time in a row. Dangote runs a cement manufacturing business in several African countries.