The magazine, which was founded in 2011 under the African Business News group, reaches 153,000 of the 3.4 million qualifying adults aged between 25 and 64. The reach is also across seven markets.
“Our talented young team of African journalists work hard to bring solid and serious journalism to the people who want to know about entrepreneurs. This survey shows we are getting through to those for whom business is life,” Chris Bishop, the managing editor of Forbes Africa magazine, said in a statement.
Since its inception, the magazine has profiled notable African industry professionals such as Strive Masiyiwa, Zimbabwean founder of Econet Wireless, and Manu Chandaria, who is deemed as one of Kenya’s leading industrialists.
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“In August, Forbes Africa featured the veteran East African entrepreneur Manu Chandaria, and his rich story born of more than 60 years in business. The man lived through tumultuous times in his region told the magazine: ‘You can lose, but don’t collapse,’” Bishop explained.
Forbes Africa also shares the top spot with titles such as the New African, The Africa Report and Bloomberg Markets.
According to survey, the 3.4 million highest earners within Africa’s leading economies are just as well educated and earn relatively high incomes as their global counterparts do. Africa’s affluent are also subsequently key consumers of luxury goods and services.
(READ MORE: Africa’s appetite for luxury goods to be sated)
Following Forbes Africa’s launch two years later was Forbes Woman Africa and Forbes Life Africa magazines.
“I think we’re going to go from strength to strength. Forbes Africa has the possibility to be the magazine on the continent for people who are serious about business and also entrepreneurs who want to learn how to get on,” said Bishop.