Africa’s tech and business heavyweights, holding a combined net worth of more than $61 billion, descended on Dubai last weekend for one of the rarest and most influential gatherings of African billionaires in recent years.
This was however not just a meeting of wealth but a critical high-stakes dialogue at the invitation of the UAE to strengthen ties on innovation, AI, investments, philanthropic contributions and the future of Africa’s digital transformation.
Hosted by Badr Jafar, the UAE minister of foreign affairs’ special envoy for Business and Philanthropy, the UAE-Africa Business Leaders Meeting brought together eight of Africa’s most powerful business and philanthropic figures.
The African billionaires’ lineup represented every corner of the continent, featuring Aliko Dangote (Nigeria), Johann Rupert (South Africa), Naguib Sawiris (Egypt), Abdul Samad Rabiu (Nigeria), Patrice Motsepe (South Africa), Mohammed Dewji (Tanzania), Tony Elumelu (Nigeria), and Strive Masiyiwa (Zimbabwe).
Each brought a distinctive track record of impactful innovation that has reshaped industries across the continent.
Presently, Sawiris is driving a new $100 million electric mobility programme in Morocco, while Motsepe, South Africa’s richest Black industrialist, continues to push fintech innovation through African Rainbow Capital and TymeBank’s expansion into Asia.
Nigeria’s Abdul Samad Rabiu is reshaping manufacturing and food systems, and Dangote has extended his infrastructure empire with a $1 billion energy and pipeline investment across Zimbabwe and Ethiopia.
Masiyiwa, Zimbabwean telecoms pioneer, continues to stand out for his forward-looking $720 million African AI data-centre project, being developed in partnership with Google and Nvidia. “Africa cannot afford to be a consumer in the AI revolution. We must build, we must innovate, and we must lead,” Masiyiwa has repeatedly been quoted as saying.
More importantly, the assembly’s highlight was the UAE-Africa Business Leaders meeting, where Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, engaged the delegation on investment and development opportunities across the continent. “Our shared future depends on innovation, energy security, and resilient economies. Africa is a key partner in building that future,” said Al Maktoum.
He further reinforced the UAE’s fast-rising role as one of Africa’s strongest backers of innovation, development, and digital infrastructure.
Just last month, the UAE unveiled a $1 billion AI for Development Initiative at the 2025 G20 Summit held in South Africa. The programme is designed to support African AI applications in public services, agriculture, education, climate resilience and next-generation digital infrastructure.
“The leaders in this room influence the economic and social outcomes of hundreds of millions of Africans. When government, business, and philanthropy align, we unlock solutions that expand opportunity and drive long-term prosperity,” said Jafar.
Completing the powerful gathering in Dubai was global philanthropist Bill Gates, whose recent commitments to Africa include new funding for vaccine manufacturing, digital health systems, and climate-smart agriculture.
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