According to a proverb, women multiply whatever you offer them. This has been demonstrated numerous times, particularly by these African women who have created and doubled a lifetime’s worth of riches.
These women have established themselves in a number of fields, including IT, fashion, and finance. They truly are an inspiration to women all over the world, and their success stories serve as living examples of what can be achieved with perseverance and hard effort.
Although men currently predominate the lists of the World’s and Africa’s Richest, it is only a matter of time before women take the lead.
The richest women in Africa who are also billionaires and multimillionaires will be covered in this article. We’ll look at their professional histories, their businesses, and their wealth. These are the women changing the world and demonstrating the potential of African women.
Without further ado, here is a list of the top ten wealthiest women in Africa, along with information about their country of origin and estimated net worth.
1. Folorunso Alakija – $1 billion
Folorunso Alakija, a Nigerian businesswoman who amassed her wealth from the oil and gas, fashion printing, and real estate industries, comes in first place on the list of the top 10 richest women in Africa.
The Nigerian billionaire, who was born in Lagos, first worked as a banker before entering the fashion business in the 1970s. Supreme Stitches, Alakija’s fashion business, was established (now Rose 0f Sharon House of Fashion). She also serves as the family-owned company FAMFA OIL’s Executive Vice Chairman.
She was ranked by Forbes Magazine as one of the most powerful women in 2016, among the world’s billionaires in 2019, and among Africa’s billionaires in 2020. With a current estimated net worth of $1 billion, Alakija is both the richest woman in Nigeria and all of Africa.
2. Ngina Kenyatta – $1 billion
The richest woman in Kenya and the second richest woman in Africa is Ngina Kenyatta, a.k.a. “Mama Ngina,” the former first lady of Kenya.
Jomo Kenyatta, who presided over Kenya from 1964 until his death in 1978, was married to Kenyatta. Additionally, she is the mother of Uhuru Kenyatta, Kenya’s president since 2013.
3. Hajia Bola Shagaya – $950 million
One of the wealthiest women in Africa and Nigeria is the Nigerian businesswoman Hajia Bola Shagaya. She is in third position with an estimated net worth of $950 million. Shagaya is a successful businesswoman from Nigeria who entered a number of industries.
She was born into a household with a median income, unlike most of the other women on this list, but she refused to accept anything less. She left her job as an auditor at the Central Bank of Nigeria (CBN) in order to pursue entrepreneurship in order to achieve this goal.
Shagaya startd out as the CEO of Bolmus International Limited, a business she founded and expanded to become the most prosperous importer and distributor of photography in Nigeria and West Africa.
She then ventured into the oil and gas, real estate, and other other industries.
4. Daisy Danjuma – $900 million
With an estimated net worth of $900 million, former Edo State Senator Daisy Danjuma ranks fourth among Forbes’ list of the 10 richest women in Africa. She is an attorney and the spouse of General Theophilus Yakubu Danjuma, the defense minister.
Between 1977 and 1978, Daisy worked as an executive assistant for Nigerian Acceptances Limited (NAL). From 1982 to 1992, she served as the Nigerian Television Authority’s (NTA) Company Secretary and Legal Adviser.
She was elected to serve as Edo South’s senator in the Federal Republic of Nigeria from 2003 to 2007. The Nigerian lawyer held board positions with a number of public and private companies.
She was appointed chairperson of May & Baker Nigeria PLC, a top pharmaceutical manufacturing company, in 2019. Prior to that, she served as a director of South Atlantic Petroleum (SAPETRO), a leading oil company.
5. Fifi Ejindu — $850m
Fifi Ejindu, one of the wealthiest women in Africa in 2023, is an architect, businesswoman, and philanthropist. Her estimated net worth is $850 million, based on Forbes. One of the largest architectural firms in Nigeria, Starcrest Group of Companies, is run by her as its founder and CEO.
The three divisions of the Starcrest Group of Companies are each involved in real estate, construction, design, and investment opportunities. Real estate management, building and design, oil and gas project management, youth empowerment, and investment opportunities are some of the subsidiaries involved.
Some of the foreign investment in the nation is attributable to Starcrest. Chief Olusegun Obasanjo, a former president of Nigeria, was able to persuade fifty well-known businessmen from the United Arab Emirates to make investments in various sectors of the Nigerian economy. The business is also in charge of managing numerous commercial and residential villas spread across the continent.
6. Dr. Stella Okoli – $800 Million
In 2023, Dr. Stella Okoli will rank among the top 10 richest women in Africa according to Forbes, with an estimated net worth of $800 million. She serves as both the managing director and chief executive officer of Emzor Pharmaceutical Industries Limited, one of the top pharmaceutical firms in the nation.
At Middlesex Hospital in London, Stella first worked as a ward/clinical pharmacist before moving on to work as a pharmacist at Boots Uk, formerly known as Boots the Chemist Ltd. When she eventually made it back to Nigeria, she worked briefly as a pharmacist at the Massey Children Hospital in Lagos before joining the Park Davies Nigeria Limited pharmaceutical production company.
Stella started her business career by importing prescription drugs into the nation from a small neighborhood pharmacy in Shomolu, Lagos. After becoming Emzor Pharmaceuticals in 1984, the business is now a well-known pharmaceutical manufacturer with more than 50 products to its credit.
7. Wendy Appelbaum – $259 million
Wendy Appelbaum is not just one of the wealthiest and most influential women in Africa, but also the richest woman in South Africa, with an estimated net worth of $259 million.
She is the daughter of Sir Donald Gordon, a businessman from South Africa. Appelbaum, who currently serves as the chairman of the De Morgenzon Wine Estate, began her career as a director in her father’s real estate business. She received numerous awards for the first vintage of the company’s Chenin Blanc wine due to its distinctive flavor.
She received honors from Forbes Magazine in 2015, including Woman of the Year (Africa) and Businesswoman of the Year. She was one of the most powerful women in Africa by 2020, according to Forbes.
She received honors from Forbes Magazine in 2015, including Woman of the Year (Africa) and Businesswoman of the Year. She was one of the most powerful women in Africa by 2020, according to Forbes.
8. Wendy Ackerman – $190 million
One of the wealthiest women in Africa and the second-richest woman in South Africa, Wendy Ackerman is thought to have a net worth of $190 million. She is a business magnate with a focus on retail in particular. She is one of the board members of her husband’s retail business, Pick n Pay Holdings Limited.
Along with her husband Raymond Ackerman, Wendy has demonstrated exceptional leadership qualities as an entrepreneur. She has contributed to the development of one of South Africa’s leading FMCG retailers, which now has over 450 locations, including 121 supermarkets and 14 hypermarkets. Financial services are offered along with operations in the food, apparel, and general retail sectors.
The business has multiple locations outside of South Africa, including Australia, Nigeria, Mozambique, Zambia, and Namibia. Additionally, it has 49,000 employees.
9. Irene Charnley – $150 million
A businesswoman from South Africa named Irene Charnley has investments in the telecommunications industry. As of 2023, her estimated net worth is $150 million. Before becoming the Executive Director of MTN, Charnley spent 13 years as a negotiator for the South African National Union of Minework.
Irene had a crucial role in developing MTN Africa’s biggest telecom firm. Several nations in Africa and the Middle East, notably Nigeria and Iran, joined the MTN network under her direction. Then, in 2007, she departed to create her own telecommunications business, Smiles Communication.
A Pan-African telecommunications company called Smile Telecoms Holdings Ltd. is based in Mauritius and has operations in Nigeria, Tanzania, Uganda, the Democratic Republic of the Congo, and South Africa. Forbes listed her among “Africa’s 50 Most Powerful Women” in 2020.
10. Bridgette Radebe – $58.7 million
Bridgette Radebe completes the list of the richest women in Africa. With an estimated net worth of $58,7 million, Bridget Radebe is the fourth South African lady on this list.
Mmankau Mining Limited, a business that specializes in coal, uranium, platinum, and vanadium, was founded by Radebe. He also serves as executive chairman and CEO of the company. She is the President of the South African Mining Development Association and regarded as the first black woman to work in the mining industry.
The Global Foundation for Democracy presented Radebe with an “International Businessperson of the Year Award” in May 2008. This award honors entrepreneurs who have contributed to the world’s shifting political and environmental landscapes.