According to Forbes Magazine, South African Johann Rupert has surpassed Nigerian billionaire businessman Aliko Dangote to become the wealthiest person in Africa.

According to Forbes Real-time Global Billionaires Ranking, Rupert presently has a net worth of $12 billion, while Dangote is in second place with a net worth of $10.8 billion as of Friday.

Due to recent operational charges on the foreign currency market made by the Central Bank of Nigeria, which caused the Naira’s value to decline versus the US dollar, Dangote’s net worth decreased.

Due to the need to recalculate the wealth of all Nigerian billionaires, Forbes and Bloomberg significantly reduced the wealth of Dangote, Mike Adenuga, the Chairman of telecom giant Globacom Limited, and Abdul Samad Rabiu, the creator of BUA cement.

Aliko Dangote is anticipated to recover with the scheduled start-up of the $20 billion Dangote refinery that was commissioned last month.