Top 10 Richest Women in Africa

Top 10 Richest Women in Africa 2024

Have you ever been curious about the wealthiest women in Africa? Well, in this article, we will be listing out the top 10 richest women in Africa.

In Africa, many affluent and influential women have gained impressive wealth and have been recognized among the richest women in Africa.

These select group of women have made it to the top through hard work, dedication, and consistency. From the oil-rich terrains of Nigeria to South Africa and beyond, these women have left an indelible mark, steering industries and amassing fortunes that transcend borders.

Join us as we delve into the achievements of these notable women who have broken barriers in their pursuit of financial success in Africa.

Here are the top 10 wealthiest women in Africa.

Richest Women in Africa 

  1. Folorunsho Alakija
  2. Ngina Kenyatta
  3. Hajia Bola Shagaya
  4. Daisy Danjuma
  5. Dr Stella Okoli
  6. Isabelle Countant Peyre
  7. Wendy Applebaum
  8. Wendy Ackerman
  9. Irene Charnley
  10. Bridget Radebe

Top Richest Women in Africa

Folorunsho Alakija

Folorunso Alakija is a well-known Nigerian businesswoman, oil magnate, philanthropist, and fashion lover, who holds a prestigious position among the top 10 wealthiest women in Africa. She was born on July 15, 1951, in Lagos State, Nigeria, and as of 2024, her net worth is estimated to be over $1 billion.

Upon completing her secondary school education, she moved to England to pursue her secretarial studies at Pitman’s Central College in London. The 71-year-old business tycoon got married to Modupe Alakija in 1976, and they have four wonderful children together. Today, Folorunso is the founder and owner of Famfa Oil Limited, a Nigerian oil exploration company that has a significant stake in one of Nigeria’s most profitable oil fields.

Her success story began in the early 1970s when she joined the International Merchant Bank of Nigeria.

After working in banking for 12 years, she left Nigeria to study fashion design at the American College in London and the Central School of Fashion. When she completed her studies, she returned to Nigeria and founded Supreme Stitches, which she later renamed to The Rose of Sharon House of Fashion in 1996.

Her fashion company enabled her to meet with high-class customers, including the wife of former Nigerian president Ibrahim Babangida.

Folorunso Alakija’s achievements have been recognized with numerous awards, including being named one of Forbes’ most powerful women in the world.

Net Worth: $1 billion 

Ngina Kenyatta

Mama Ngina Kenyatta, born on June 24, 1933, is a well-known personality in Kenya, recognized for her significant contributions as the wife of Kenya’s first President, Jomo Kenyatta.

Apart from being the country’s First Lady, Mama Ngina Kenyatta has played an active role in various sectors. She has been actively involved in agriculture, especially in large-scale farming, and has extensive land holdings, which have contributed to her prominence in Kenya’s agricultural sector.

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Mama Ngina Kenyatta and her family have significant stakes in several companies, including Brookside Dairies, the largest dairy company in Kenya, Mediamax, a media company, Heritage Hotels, Commercial Bank of Africa, and hundreds of thousands of prime Kenyan land.

According to Nigeria-based Ventures financial magazine, Mama Ngina Kenyatta and former powerful Cabinet minister Nicholas Biwott have made it to the list of Africa’s top billionaires.

Net Worth: $1 billion 

Hajia Bola Shagaya

Born on October 10, 1959, in Kwara State, Nigeria, Hajia Bola Shagaya is a prominent and highly successful businesswoman in Nigeria. She has made a name for herself in the country’s business landscape and has amassed a net worth of approximately $950 million.

Bola Shagaya is the CEO and founder of Bolmus Group International, a conglomerate with diversified interests in oil, real estate, and other industries. Her contributions to these sectors have been significant, and she has made a mark with her strategic business acumen.

Apart from her success in the oil and real estate sectors, Shagaya has also made significant contributions to other areas such as banking and photography. She has been a board member of Unity Bank Plc, one of Nigeria’s most prominent financial institutions, and her ability to navigate complex industries has solidified her reputation as a business magnate.

Net Worth: $950 million

Daisy Danjuma

Daisy Ehanire Danjuma, a Nigerian lawyer, businesswoman, and philanthropist, was born on August 6, 1952, in Benin City, Nigeria. Her multifaceted career spans various sectors, and she is renowned for her significant contributions to both business and social causes.

While her husband, Theophilus Yakubu Danjuma, a former Nigerian military general and minister of defence, founded an oil exploration company, Daisy’s narrative goes beyond her familial connections.

Her journey to success is marked by an unwavering commitment to philanthropy, actively participating in charitable initiatives that extend across Nigeria. This underscores her dedication to making a positive impact beyond her personal wealth.

Net worth: $800 million

Dr Stella Okoli

Dr. Stella Okoli is a highly acclaimed Nigerian pharmacist and entrepreneur who has made remarkable contributions to the pharmaceutical industry. She was born on January 4, 1944, in Kano State, Nigeria, and has become a pioneer in the healthcare sector. As of 2024, her net worth is estimated to be around $800 million, which makes her one of the wealthiest women in Africa.

As the founder and CEO of Emzor Pharmaceutical Industries Limited, one of Nigeria’s top pharmaceutical companies, Dr. Okoli has established a significant position in the industry. Under her guidance, Emzor has emerged as one of the most reputable and largest pharmaceutical companies in Nigeria.

The company manufactures a diverse range of pharmaceutical products, including prescription drugs, over-the-counter medications, and medical consumables.

Net worth: $800 million 

Isabelle Countant Peyre

Isabelle Countant Peyre stands among the affluent women in Africa. Hailing from Algeria, she is recognized as a French-Algerian businesswoman and philanthropist.

Originating from Algeria, Isabelle has directed her wealth toward various charitable endeavors in her homeland. The founder of Investments Countant Peyre, a private equity firm, she has leveraged her business acumen for impactful contributions.

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As of 2024, Isabelle’s estimated net worth is a substantial $300 million, reflecting her success in both the business and philanthropic spheres.

Net worth: $300 million

Wendy Applebaum

Wendy Appelbaum, a South African businesswoman and philanthropist, has made significant contributions to both the business and social sectors. Born on October 10, 1962, in Johannesburg, South Africa, she is recognized for her entrepreneurial spirit and dedication to various causes.

As the daughter of billionaire businessman Donald Gordon, Wendy Appelbaum has not only inherited wealth but has also established herself as an influential and independent businesswoman. 

She was formerly the vice chairman of Women’s investment portfolio limited, the women-dominated firm. She ventured into DeMorgenzon, a wine vineyard in the Stellenbosch wine area.

Her impact on the South African business landscape and her advocacy for positive social change highlight her multifaceted contributions to society.

Net Worth: $259 million

Wendy Ackerman

Wendy Ackerman is a prominent figure in South Africa, known for her association with the retail industry. Born Wendy Lipton on November 10, 1931, she is the wife of Raymond Ackerman.

Wendy Ackerman, along with her husband, is one of the founders of Pick n Pay Stores, which has now become one of the largest supermarket chains in South Africa. 

Along with her husband Raymond Ackerman, Wendy has been a tremendous force in building up one of South Africa’s leading FMCG retailers, which, to date, consists of over 450 stores, with the inclusion of 121 supermarkets and 14 hypermarkets.

Net worth: $190 million

Irene Charnley

Irene Charnley is a South African businesswoman who has made notable contributions to the telecommunications industry. Born on March 26, 1960, in Soweto, South Africa, Charnley has played key roles in both business and leadership.

Charnley started her career in the South African business sector working as a negotiator for the South African National Union of Mineworkers, spending 13 years as a coordinator for a variety of divisions within the union operations department. 

Later on in her career, Irene was appointed as an executive director for the MTN Group – one of Africa’s largest telecommunications companies. She co-founded Smile Telecoms Holdings, a telecommunications group focused on providing broadband services in Africa

Net worth: $150 million

Bridget Radebe

Bridget Radebe, born on February 26, 1960, is a South African businesswoman and mining magnate. She has made significant strides in the mining industry and is recognized for her pioneering role as a female entrepreneur in a sector traditionally dominated by men.

Recognized as the first black female mining entrepreneur, Bridgette Motsepe- Radebe the Founder and Executive Chairperson of Mmakau Mining Limited. Mmakau Mining Limited is a mining firm that inducts explorations and assists in producing platinum, gold, and chrome.

Bridgette is the sister of South African businessman Patrice Motsepe and Tshepo Motsepe – the First Lady of South Africa. The Radebe family has made significant contributions to business and entrepreneurship in South Africa.

Net Worth: $25 million

Wrap Up

These are some of the most well-known richest women in Africa. Their compelling stories serve as inspiration not only for budding entrepreneurs but for women globally.

As Africa continues to evolve, the contributions of these formidable women serve as beacons, paving the way for empowerment and prosperity for future generations.

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