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Top 10 Richest Women In Africa According To Forbes
Africa is home to an impressive array of business leaders, entrepreneurs, and innovators who have amassed significant wealth over the years. Among these, African women stand out for their determination, strategic investments, and groundbreaking achievements. Despite many challenges, they have become powerful forces in sectors ranging from oil and gas to telecommunications, finance, and fashion.
This list of the top 10 richest women in Africa, according to Forbes and other reputable financial reports, highlights these remarkable individuals, their accomplishments, and their estimated net worths.
1. Isabel dos Santos - Angola (Net Worth: $1.5 Billion)
Isabel dos Santos, the daughter of Angola's former president, is widely recognized as the wealthiest woman in Africa. With a background in electrical engineering, Isabel built her wealth through strategic investments in sectors such as telecommunications, oil, banking, and retail. She has been involved in various ventures, including a significant stake in Unitel, Angola’s largest mobile phone network, and has investments in major companies like Banco BIC and ZON Multimedia.
Although her wealth has faced scrutiny and legal battles, Isabel dos Santos remains one of the most notable African businesswomen, with a significant impact on Angola's economy and beyond.
2. Folorunsho Alakija - Nigeria (Net Worth: $1 Billion)
Folorunsho Alakija is a Nigerian oil magnate, fashion entrepreneur, and philanthropist. She began her career in the fashion industry, founding Supreme Stitches, a luxury clothing brand. Later, she ventured into the oil industry, becoming the vice-chairman of Famfa Oil, one of Nigeria's largest indigenous oil companies. Famfa Oil's Agbami field partnership with Chevron and Petrobras transformed Alakija's financial fortunes, solidifying her status among Africa’s richest individuals.
Alakija's influence extends to philanthropy through the Rose of Sharon Foundation, which supports widows and orphans in Nigeria, showcasing her commitment to social development.
3. Ngina Kenyatta - Kenya (Net Worth: $1 Billion)
Ngina Kenyatta, affectionately known as “Mama Ngina,” is the matriarch of the Kenyatta family in Kenya. As the widow of Kenya’s first president, Jomo Kenyatta, she has built an empire that spans multiple industries, including real estate, banking, tourism, and farming. The Kenyatta family holds significant stakes in companies like Brookside Dairy, NCBA Group (a leading banking institution), and the Heritage Hotel Group.
Her vast wealth, combined with her influential role in Kenya’s political landscape, places Ngina Kenyatta among the wealthiest and most influential women in Africa.
4. Hajia Bola Shagaya - Nigeria (Net Worth: $950 Million)
Hajia Bola Shagaya is a prominent Nigerian businesswoman with interests in oil, banking, real estate, and photography. She began her career in the Central Bank of Nigeria and later ventured into business, establishing Bolmus Group International. Her interests include a successful real estate portfolio across major Nigerian cities and lucrative ventures in oil and gas.
Shagaya has received several honors for her contributions to Nigeria’s economy and has served on the board of Unity Bank. Her diversified portfolio and entrepreneurial spirit have earned her a prominent place among Africa’s wealthiest women.
5. Wendy Appelbaum - South Africa (Net Worth: $310 Million)
Wendy Appelbaum is one of South Africa's wealthiest women, known for her contributions to business, wine production, and philanthropy. The daughter of the late South African billionaire Donald Gordon, Wendy was instrumental in growing the family’s business empire. She is the owner of DeMorgenzon Wine Estate in Stellenbosch, South Africa, which produces award-winning wines.
Appelbaum is a passionate advocate for social causes, with a focus on women's health and education. Her charitable work, combined with her business ventures, has positioned her as one of South Africa's most influential figures in both business and philanthropy.
6. Irene Charnley - South Africa (Net Worth: $150 Million)
Irene Charnley is a South African businesswoman known for her achievements in the telecommunications industry. A former trade unionist, she was instrumental in the growth of MTN Group, one of Africa's largest telecommunications companies. During her tenure, MTN expanded into multiple African and Middle Eastern countries, contributing significantly to its valuation and her personal wealth.
Charnley later became the CEO of Smile Telecoms, a company dedicated to providing affordable broadband access across Africa. Her work has been instrumental in improving digital access across the continent, earning her a place among Africa's wealthiest and most impactful women.
7. Bridget Radebe - South Africa (Net Worth: $100 Million)
Bridget Radebe is South Africa’s first black female mining entrepreneur, an achievement that has made her a trailblazer in an industry traditionally dominated by men. She is the founder and executive chairperson of Mmakau Mining, a successful mining company involved in gold, coal, and platinum.
Radebe’s success in mining has opened doors for other women in the industry, and she is a vocal advocate for economic empowerment in South Africa. Her contributions to mining and commitment to breaking barriers make her one of the wealthiest and most influential women in Africa.
8. Sharon Wapnick - South Africa (Net Worth: $90 Million)
Sharon Wapnick is a South African lawyer and one of the largest shareholders in the property loan stock companies Octodec Investments and Premium Properties. Both companies focus on real estate development, particularly in commercial and residential properties in urban areas.
Wapnick's substantial stake in these companies has placed her among the wealthiest women in South Africa. She has steadily grown her wealth through property investments, making her a respected figure in the South African real estate industry.
9. Precious Moloi-Motsepe - South Africa (Net Worth: $85 Million)
Precious Moloi-Motsepe is a South African fashion entrepreneur, philanthropist, and one of the country’s most influential women. She is the founder of African Fashion International (AFI), a company that promotes African fashion and organizes fashion events across the continent.
Moloi-Motsepe’s success in fashion has not only elevated African designers but has also helped her build a notable fortune. Married to billionaire Patrice Motsepe, she is actively involved in philanthropy, focusing on health and education initiatives through the Motsepe Foundation.
10. Elisabeth Bradley - South Africa (Net Worth: $50 Million)
Elisabeth Bradley is a South African businesswoman known for her influential roles in various industries. She inherited a stake in Wesco Investments, which had interests in Toyota South Africa, after her father’s passing. After selling a portion of this stake, Bradley continued to expand her business interests through various companies, including AngloGold Ashanti, one of the world’s largest gold producers.
Her diversified portfolio and significant wealth make her one of the wealthiest women in South Africa, with a reputation as a savvy businesswoman in corporate South Africa.
Conclusion
These top 10 richest women in Africa have not only achieved financial success but have also broken barriers and inspired countless others across the continent. Their stories underscore the possibilities for African women in industries as diverse as telecommunications, oil, real estate, and fashion. Despite the challenges, they have leveraged their resources, skills, and determination to build impressive fortunes and create lasting legacies.
Each of these women is a testament to the power of resilience and the growing influence of African women in the global business landscape. Their success is a beacon for future generations, proving that with vision and perseverance, African women can compete at the highest levels and make a meaningful impact on the continent and beyond.
