Check out 5 Richest Kings In Africa and their sources of income.

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 Africa might be saturated in democratically governed countries, but it is still the land of numerous kings. Sure, there are only three African countries with constitutional monarchies – Morocco, Swaziland and Lesotho — but there are several hundred traditional monarchs dispersed across Africa in urban, semi-urban and rural communities in independent countries. Mostly, these monarchs wield little if any formal political power, nevertheless they fulfill spiritual and ceremonial obligations to members of the community.

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#1 of 5 Richest Kings In Africa

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King Mohammed VI, Morocco

Estimated net worth: $2 billion

Source: Investments

His Majesty King Mohammed VI of Morocco is the wealthiest monarch in Africa. He derives his fortune from his control of Société Nationale d’Investissement (SNI), a large Moroccan investment holding company with assets valued at more than $10 billion. SNI’s largest asset is a 48% stake in Morocco’s largest bank, Attijariwafa, as well as controlling stakes in mass distribution giant Marjane Holding; mining company Managem Group and mobile telecoms company Inwi. The King also owns a substantial chunk of the world’s phosphate reserves. King Mohammed VI, the 27th king of the Alaouite dynasty, ascended the throne in July 1999 and immediately set out to initiate a series of socio-political and economic reforms that have made the Kingdom freer and more prosperous than during the reign of his father, King Hassan II. In 2014, the King introduced a new family law giving women legal equality with men in key areas; his economic strategy has led to the creation of new industrial zones which in turn has given a boost to the number of global industrial corporations setting up shop in Morocco. On the political front, he has enacted a series of reforms to the country’s constitution, including amendments that stripped him of some of his political powers.

    

Source: Forbes