Though almost all the countries in Africa practice democracy, there is a considerable role for kings and chiefs in governance.
This has led to the rise of some prominent and famous rulers; and we at Pulse Ghana, chronicle some of the richest on the continent and how they make their monies below.
It must be, however, noted that this list is no particular of wealth or reverence.
1 . Ooni of Ile Ife: Oba Adeyeye Ogunwusi Eniitan, Ojaja II, is a Nigerian monarch who rules Ooni, the Yoruba kingdom of Ile-Ife. He ascended the throne in 2005.
Besides his royal status, he is a successful real estate businessman and the Chancellor of the University of Nigeria, Nsukka.
2 . King Mswati III: He ascended the throne in April 1986, hence, becoming the king of Eswatini and the head of the Swazi Royal Family at age 18.
He controls Tibiyo TakaNgwane, an investment holding company that has assets worth over $140 million, but he holds it in trust for the people of Swaziland.
3 . Otumfuo Osei Tutu II: The Asantehene is literally referred to as the one who sits on a golden stool to signify his wealth. He is arguably the most respected chief in Ghana and it is estimated that he is worth over $10m from royalties paid to the stool by gold mining companies.
4 . King Mohammed VI: King Mohammed VI is the 27th king of the Alaouite dynasty who ascended the throne in July 1999.
Mohammed VI is considered the wealthiest African king, controlling Moroccan investment holding company Societe Nationale d’Investissement, whose assets are estimated to be worth more than $10 billion.
The King also owns a substantial chunk of the world’s phosphate reserves.
The king’s strategy in terms of economic development has led the boosting up of industrial market helping Morocco mark a position in the world.
5 . Fredrick Oba Obateru Akinrutan: Oba Obateru Akinrutan is the traditional King of a small community in the state of Ondo, an oil-rich land. He ascended the throne in 2009.
Oba Obateru Akinrutan is the founder of Nigeria’s one of the largest privately-held oil companies- the Obat Oil.
He also owns an extensive portfolio of prime commercial and residential real estate in London and Nigeria, including the landmark Febson Hotels and Mall in the Central Business District of Abuja.
6 . Leruo Tshekedi Molotlegi: He is the King of the Royal Bafokeng Nation in South Africa. He is a former member of the board of Impala Platinum Holdings (Implats), and now sits in the newly established Royal Bafokeng Holdings (RBH) as a non-Executive Director. RBH is a wholly owned Bafokeng company.
The Kgosi is also the president of the Mineral Rights Association of Indigenous People of South Africa and was one of the principal negotiators in the new mining legislation, which seeks to encourage significant black participation
