Who are the most well-paid African presidents right now? This is, without a doubt, one of the most frequently asked questions in Africa. Without a question, African presidents are often regarded as the most important citizens of their countries.
There’s no doubt that African leaders enjoy numerous benefits, particularly monetary ones. Despite their countries being underdeveloped, with high unemployment, they are among the best paid state leaders in the world. When the president’s salary is compared to the country’s GDP and the minimum wage paid to workers, this becomes clear.
President and government officials can amass fortunes while the majority of the population lives on less than a dollar per day. Politics does pay, not only with power and influence, but also with money.
Politicians, their families and partners are some of the wealthiest people in Africa. They don’t create wealth. They are not business owners. Many of them don’t invent anything. They do not construct industries. The majority of African leaders are organized crime syndicates looting their countries. When compared to developed countries, the wealthiest individuals are not politicians.
Africa is a resourceful continent, but its people are poor; this is due to the fact that corruption is a major problem in the region. Many people believe that corruption levels have reduced, but this is a big deception; take for example Africa’s share of income has been consistently dropping over the past century by any measure. In 1820, the average European worker earned about three times what the average African did. Now, the average European earns twenty times what the average African does. Although GDP per capita incomes in Africa have also been steadily growing, measures are still far better in other parts of the world and this can be greatly attributed to our leaders.
Using information gathered from country websites as well as data from organizations such as the International Monetary Fund and the CIA World Factbook, here are the top five highest paid presidents in Africa.
5. Abdelmadjid Tebboune, President of Algeria – | Salary – $168,000 | Estimated Net Worth Unknown
Abdelmadjib Tebboune has been the President of Algeria since December 2019. He succeeded former President Abdelaziz Bouteflika. With an annual salary of $168,000, Algeria’s President is among the highest-paid African leaders.
President Tebboune was set to be Algeria’s shortest-serving prime minister, removed just three months for criticizing members of the country’s elite who cosy up to politicians in exchange for government contracts. Ever since he became president, many of those he targeted have either been sentenced or are facing corruption charges.
4. Yoweri Museveni, President of Uganda | Salary – $183,216 | Estimated Net Worth Unknown.
Is the ninth and current President of Uganda. he was involved in rebellions that toppled Ugandan presidents Milton Obote and Idi Amin before he captured power in 1986.
Uganda’s economy under Museveni is groaning under debt constraints at the same time as the country’s democratic shortcomings. In the last three years, the public debt has climbed by roughly 70%, owing to a variety of loans, including those to finance the Covid-19 response. By the mid-2000s, practically all of Uganda’s external debt had been cancelled thanks to debt relief programs by the International Monetary Fund (IMF) and the World Bank for heavily indebted developing countries. However, when the government tried to fund mega-infrastructure projects in the energy and transportation sectors, debt pressures resumed. China has provided Uganda billions of dollars over the previous decade to fund projects such as expanding the airport and building an expressway, as well as two hydropower dams and internet infrastructure.
Uganda today has a public debt stock of over $18 billion , which is on track to exceed the critical 50% of GDP barrier in 2022, posing a threat to fiscal stability.
Although President Museveni’s net worth is unclear, many respectable websites estimate it to be $13 billion. Corruption and nepotism were two of the methods he employed to ensure that his proxies were placed in crucial positions where they would be loyal to him. His proxies are the country’s top decision-makers, and no one in his ranks opposes his policies. He was able to loan these individuals the country’s resources, and they made sure he stayed as long as he could because they are afraid that if another leader arrives, they will no longer be able to steal from their people.
3. Uhuru Kenyatta, President of Kenya | Annual Salary – $192,200 | Estimated Net Worth – $650 Million.
Uhuru Kenyatta Is Kenya’s fourth and current President, having taken office in 2013. He was a member of parliament and Deputy Prime Minister before becoming President.
Uhuru Kenyatta is the son of Kenya’s first president, Jomo Kenyatta, who served from 1964 until his death in 1978.
President Uhuru Kenyatta and his family are among the world leaders accused of stowing billions of dollars in secret offshore accounts.
The Kenyatta family has a half-billion-dollar fortune hidden in at least seven foundations and tax havens around the world, including Panama and the British Virgin Islands, according to records obtained by the International Consortium of Investigative Journalists.
According to the ICIJ, a UN-backed investigation discovered that one-sixth of all properties originally owned by Europeans during the colonial era were “cheaply sold” to Kenyatta, his family, and associates, notably Daniel arap Moi.
Over two decades, the Kenyatta family thrived under Moi’s authoritarian rule, building a dairy that has expanded across East Africa and is now Kenya’s largest milk producer, as well as obtaining large shares in other domestic firms such as a major bank and upscale hotels.
Uhuru Kenyatta was named Kenya’s richest person and Africa’s 26th wealthiest by Forbes magazine in 2011, two years before he was elected president.
2. Cyril Ramaphosa, President of South Africa | Annual Salary – $223,500 | Estimated Net Worth $450 million.
Cyril Ramaphosa is a South African businessman and politician who has served as the country’s fifth democratically elected president since 2018, as well as the African National Congress (ANC) president since 2017.
President Cyril Ramaphosa is regarded as an intelligent negotiator and strategist. He was the ANC’s Chief Negotiator during South Africa’s democratic transition. Ramaphosa had built the country’s biggest and most powerful trade union, the National Union of Mineworkers, which played a critical role during the negotiations to end apartheid peacefully and guide the country to its first fully democratic elections in April 1994.
Ramaphosa was Nelson Mandela’s choice for future president. Unlike other African presidents, Ramaphosa is well-known as a businessman, with a net worth of more than R6.4 billion ($450 million). He previously held considerable ownership in companies such as McDonald’s South Africa, MTN as chair of the board, and member of the board for Lonmin.
Despite his credentials as a key advocate of his country’s peaceful democratic transition, he has been criticised for his financial dealings, despite the fact that he has never been charged with any unlawful action in any of these incidents. His joint venture with Glencore and allegations of illegally benefiting from coal deals with Eskom, which he has categorically denied, occurred during a period when Glencore was in the public eye for its shady business dealings in the Middle East involving Tony Blair; his son, Andile Ramaphosa, was also found to have accepted payments totaling R2 million from Bosasa, the security firm implicated in corruption and state capture by Zondo commission.
1. Paul Biya, President of Cameroon | Annual Salary $620,976 | Estimated Net Worth $200 Million.
Paul Biya has been the Cameroonian president since November 6, 1982. He is Africa’s second-longest-ruling president, the world’s longest-ruling non-royal leader, the continent’s oldest head of state, and the highest-paid African President.
Paul Biya used his power to falsify the term limit laws twice in order to keep himself in power. As a result, he had the opportunity to amass a large personal fortune worth between $200 and $300 million, according to celebrity net worth.
His wealth is mostly concentrated in Europe, where he owns several mansions, according to reports. The Catholic Committee Against Hunger and Development (CCFD) named Paul Biya to a list of leaders with ill-gotten wealth.
According to Rue 89, a French online newspaper, Paul Biya’s vacation was far more expensive than that of the American President. In August 2009, he was heavily criticized for renting a villa for 30,000 euros per day yet Cameroon is one of the poorest countries in the world, with a per capita GDP of $2,257 at the time and 48 percent of the people living in poverty.
In 2008, the United States purchased $544 million in crude and fuel oil from Cameroon and exported $59 million in drilling and oilfield equipment, yet the population are still unaware of the profits.