Rich wine produced on island right by top of Africa (7)

I believe the answer is:
madeira
'rich wine' is the definition.
'Madeira' can be an answer for 'wine' (Madeira is an example). I'm not certain of the 'rich' bit.
'on island right by top of africa' is the wordplay.
'on' is a charade indicator (letters next to each other).
'island' becomes 'i' (geographical abbreviation).
'right' becomes 'r' (abbreviation).
'by' becomes 'made' (I can't justify this - if you can you should believe this answer much more).
'top of' indicates taking the first letters.
The initial letter of 'africa' is 'a'.
'i'+'r'='ir'
'ir' put after 'made' is 'madeir'.
'madeir'+'a'='MADEIRA'
'produced' is the link.
Can you help me to learn more?
(Other definitions for madeira that I've seen before include "Portuguese island, capital Funchal" , "Cake - wine" , "Fortified white wine from island off NW Africa" , "Atlantic territory" , "A fortified wine, a rich sponge" .)
