ABDULSAMAD RABIU

Abdulsamad Rabiu, a Nigerian businessman, is ranked fifth on the list of the richest in Africa. He began his career in business in 1988 when he founded BUA International Limited, a sugar refining and cement production company. Two years later, Delta Steel, a huge government-owned corporation, signed a deal to provide raw materials to BUA.

This is an extremely positive indicator for BUA. Rabiu's business is booming, with more steel and iron ore being imported. Rabiu had a wonderful year in 2008 when he built Central Africa's second-largest sugar factory. He also established the BUA charity and the Bayero Kano University Center for Islamic Studies.

Abdulsamad Rabiu is the creator of Celtel, a mobile phone firm with operations in 23 African and Middle Eastern nations. Mo Ibrahim sold Celtel for $3.4 billion in 2005, after seven years in the company. Ibrahim launched his fund two years later to develop and promote public administration in African countries. He resides in London but spends most of his time in Africa conducting philanthropy and investment. He appears to be putting in a lot of effort with his investment. He also invented the "Mo Ibrahim Index," which helps assess a country's success in several domains (economy, governance, etc.).

Net worth: $7 billion

Industry: Diversified

Country: Nigeria