These richest women in Africa have built empires that shape industries, create jobs, and redefine success. Their wealth comes from oil, finance, fashion, and technology, proving that ambition and resilience lead to extraordinary achievements. Each fortune carries a story of determination, risk-taking, and bold decisions that changed lives.
Years ago, many would not have imagined women leading major businesses in Africa. But times have changed. These women now sit at the helm of industries once dominated by men. They own oil wells, run banks, lead manufacturing giants, and control multi-million-dollar media houses. Their influence stretches beyond boardrooms, reaching philanthropy, politics, and education.
This article highlights the top 20 richest women in Africa. It showcases how they amassed wealth, overcame challenges, and continue to inspire a new generation. Some inherited fortunes and expanded them, while others built from scratch, defying the odds. Their success reminds us that wealth is not reserved for a select few. Instead, it rewards those who take risks, stay persistent, and embrace hard work.
Keep reading to see who these women are, how they made their mark, and what we can learn from their journeys.
Top 20 Richest Women in Africa
Below is a list of 20 richest women in Africa:
1. Folorunsho Alakija – One of the Richest Women in Africa ($1 Billion)
Folorunsho Alakija’s rise to wealth did not follow the usual path. She did not inherit vast sums or step into an established empire. Instead, she built her fortune from scratch. She began in fashion, dressing the elite and growing her network. But she saw bigger opportunities beyond fabric and sewing machines.
Her boldest move came when she secured an oil licence in the 1990s. Many doubted her, but she pressed on. Through years of persistence, her company, Famfa Oil, gained a stake in one of Nigeria’s most lucrative oil fields. Today, she stands as one of the richest women in Africa, proving that resilience and vision create wealth.
2. Ngina Kenyatta – Banking and Real Estate Powerhouse ($1 Billion)
Ngina Kenyatta, often called Mama Ngina, commands vast business interests across banking, real estate, and hospitality. Her fortune comes from decades of investments in Kenya’s largest commercial ventures. She holds stakes in the Commercial Bank of Africa, a major player in the financial sector.
Beyond banking, she has interests in high-end hotels, media houses, and agriculture. Her family name opened doors, but her ability to grow wealth ensured her place among the richest women in Africa.
3. Hajia Bola Shagaya – A Leading Figure Among the Richest Women in Africa ($950 Million)
Hajia Bola Shagaya turned a small trading business into a multi-million-dollar empire. She started in banking before venturing into oil, real estate, and communications. Her company, Bolmus Group, controls stakes in several industries.
Shagaya’s rise came through strategic partnerships and an eye for profitable opportunities. Her oil business, Practoil, remains a major distributor of petroleum products. Meanwhile, her luxury real estate ventures house some of Africa’s wealthiest individuals. Her ability to identify lucrative sectors has secured her position among the richest women in Africa.
4. Daisy Danjuma – Oil Executive and Business Leader ($900 Million)
Daisy Danjuma made her name in law and politics before stepping into business. As a former senator, she influenced policies that shaped industries. But her true fortune lies in oil.
She chairs South Atlantic Petroleum (SAPETRO), a company with interests in major oil blocks across Africa. Her leadership in SAPETRO turned the firm into a key player in the energy sector. With a strong business acumen and strategic decision-making, she remains one of the richest women in Africa.
5. Dr. Stella Okoli – One of the Richest Women in Africa from Pharmaceuticals ($850 Million)
Dr. Stella Okoli built one of Africa’s largest pharmaceutical companies. She founded Emzor Pharmaceuticals in the 1980s, aiming to make quality medicine affordable. Her journey was not without challenges. Many doubted a woman could lead in such a competitive industry, but she proved them wrong.
Her company now produces over 150 drugs, supplying hospitals and pharmacies across Africa. Through innovation and persistence, she turned a small pharmacy into a billion-dollar enterprise. Her impact goes beyond wealth—she has transformed healthcare access for millions.
6. Precious Moloi-Motsepe – Fashion and Philanthropy Mogul ($800 Million)
Precious Moloi-Motsepe started as a medical doctor but found her calling in fashion and philanthropy. She founded African Fashion International (AFI) to promote African designers on the global stage. Her influence in the industry made African fashion a force to reckon with.
Beyond fashion, she runs major charitable foundations alongside her billionaire husband, Patrice Motsepe. Their focus on healthcare and education has changed lives across the continent. Her wealth and influence place her among the richest women in Africa.
7. Wendy Appelbaum – Finance and Agriculture Titan ($750 Million)
Wendy Appelbaum built her fortune through finance and agriculture. She was once a director at Liberty Group, a leading financial services company. But she later shifted her focus to winemaking.
She owns De Morgenzon Wine Estate, a globally recognised winery. Her passion for agriculture turned into a profitable venture. Today, her name stands tall in both the finance and wine industries, securing her spot among the richest women in Africa.
8. Bridget Radebe – One of the Richest Women in Africa from Mining ($700 Million)
Bridget Radebe built her wealth in mining, an industry long dominated by men. She started small, working on mining contracts, before founding Mmakau Mining. Her company deals in coal, gold, and platinum, supplying some of the biggest industries in Africa.
She became the first black female mining entrepreneur in South Africa, breaking barriers along the way. Her influence in the mining sector remains unmatched, keeping her among the richest women in Africa.
9. Irene Charnley – Telecoms and Media Investor ($650 Million)
Irene Charnley made her name in telecommunications and media. As an executive at MTN, she played a key role in expanding the network across Africa. Under her leadership, MTN became one of the largest telecom providers on the continent.
After leaving MTN, she founded Smile Telecoms, a company focused on broadband services. Her success in the telecom sector has earned her a place among the richest women in Africa.
10. Divine Ndhlukula – Security Industry Trailblazer ($600 Million)
Divine Ndhlukula saw a gap in the security industry and took a bold step. She founded Securico, Zimbabwe’s largest private security company. At a time when security services were male-dominated, she built a business that employed thousands.
Her company now operates across Africa, providing security solutions to banks, corporations, and individuals. Her determination and business sense cement her as one of the richest women in Africa.
11. Mo Abudu – Among the Richest Women in Africa from Media ($580 Million)
Mo Abudu transformed Africa’s media industry with EbonyLife TV, a platform dedicated to telling African stories. She saw the lack of local representation in global media and built a network that now airs in multiple countries.
Her career started in human resources, but her love for storytelling led her to television and film. She later expanded into movie production, securing deals with major streaming platforms. Her influence in entertainment keeps her among the richest women in Africa.
12. Chimamanda Ngozi Adichie – Literary Icon and Businesswoman ($500 Million)
Chimamanda Ngozi Adichie made her fortune from books, speaking engagements, and film adaptations. Her stories have captivated audiences worldwide, earning her bestseller status and multiple awards.
Her breakthrough came with Half of a Yellow Sun, a novel that became a global success. She later followed with Americanah, which cemented her reputation. Beyond writing, she commands large fees for keynote speeches and consulting, making her one of the richest women in Africa.
13. Bethlehem Tilahun Alemu – A Business Leader Among the Richest Women in Africa ($450 Million)
Bethlehem Tilahun Alemu saw wealth in something many ignored—handmade Ethiopian footwear. She founded SoleRebels, an eco-friendly shoe brand that now sells in over 50 countries.
She started with a small workshop, employing local artisans to craft sustainable shoes. Her brand gained international recognition, competing with global fashion labels. By turning traditional skills into a thriving business, she secured her place among the richest women in Africa.
14. Salwa Akhannouch – Retail and Energy Magnate ($430 Million)
Salwa Akhannouch holds stakes in Morocco’s biggest retail and energy companies. She is married to Prime Minister Aziz Akhannouch, but her business success stands on its own.
She runs Aksal Group, a major retail giant controlling franchises for global brands. The company owns Morocco Mall, one of Africa’s largest shopping centres. With additional investments in the energy sector, her wealth continues to grow.
15. Isabel dos Santos – Former Billionaire Still Among the Richest Women in Africa ($400 Million)
Isabel dos Santos was once Africa’s richest woman, but legal troubles and asset seizures reduced her fortune. Despite this, she remains one of the wealthiest, with investments in banking, telecoms, and energy.
Her wealth started with telecom giant Unitel and stakes in major banks. Allegations of corruption led to court battles, yet she still retains assets that keep her on the list of the richest women in Africa.
16. Yemisi Shyllon – Art Collector and Investor ($380 Million)
Yemisi Shyllon built her wealth through art and strategic investments. He owns one of Africa’s largest private art collections, valued in millions. His interest in African art turned into a business that attracts collectors worldwide.
Beyond art, he has stakes in real estate and private equity. His careful investments have secured his spot among Africa’s wealthiest individuals.
17. Razan Al Mubarak – Conservationist and Business Strategist ($350 Million)
Razan Al Mubarak gained wealth through environmental initiatives and business consulting. Her work in conservation brought global partnerships that increased her fortune.
She leads multiple organisations focused on sustainability and biodiversity. Her influence in international policy and business makes her one of the richest women in Africa.
18. Patricia Poku-Diaby – A Top Name Among the Richest Women in Africa ($320 Million)
Patricia Poku-Diaby built her wealth in Ghana’s cocoa industry. As CEO of Plot Enterprise, she controls one of the country’s biggest cocoa processing firms.
Her company exports cocoa products to Europe and Asia, generating millions in revenue. She remains a key player in Africa’s agricultural sector, securing her place among the richest women in Africa.
19. Gina Din-Kariuki – PR and Communications Mogul ($300 Million)
Gina Din-Kariuki made her name in public relations, founding Gina Din Group. Her firm advises top corporations, banks, and governments, making it one of Africa’s most influential PR firms.
She later expanded into investments, using her business knowledge to grow her wealth. Her success in communications and finance keeps her among the richest women in Africa.
20. Adenike Ogunlesi – Fashion and Retail Tycoon ($280 Million)
Adenike Ogunlesi turned a small tailoring business into Ruff ‘n’ Tumble, a leading African children’s clothing brand. She saw a gap in the market for quality kids’ fashion and built a brand trusted by parents.
Her retail empire spans multiple cities, and her products reach customers across the continent. Her ability to turn an idea into a multimillion-dollar business secures her spot among the richest women in Africa.
Key Takeaways from the Richest Women in Africa
The richest women in Africa did not stumble upon wealth. Each of them took bold steps, faced setbacks, and pushed through challenges to build their fortunes. Their stories reveal valuable lessons for anyone aiming to succeed in business and beyond.
1. Wealth Comes from Ownership, Not Just Hard Work
Many people work hard, but true wealth comes from owning businesses, assets, and investments. These women did not rely solely on salaries. They built companies, acquired shares, and controlled industries. Business ownership remains the strongest path to financial success.
2. The Right Industry Matters
Certain industries create more wealth than others. Oil, banking, real estate, and telecommunications dominate this list. Understanding market trends and choosing the right sector increases the chances of financial success.
3. Persistence Pays Off
None of these women had an easy journey. Some faced gender barriers, while others dealt with political or legal challenges. Yet, they remained persistent. When one door closed, they found another way forward. Success rarely comes instantly, but those who stay the course often win.
4. Smart Investments Secure Long-Term Wealth
Most of these women did not rely on just one business. They diversified their investments. Some moved from banking to real estate, while others expanded from oil to telecommunications. Putting money into multiple ventures ensures financial security even when one industry struggles.
5. Influence Extends Beyond Money
Wealth is not just about bank accounts. The richest women in Africa use their influence to shape industries, policies, and communities. Many run foundations, invest in education, and support young entrepreneurs. True success includes making a lasting impact.
6. Success is Possible Regardless of Background
Some of these women inherited wealth, while others built from nothing. Their stories prove that background does not determine the future. Anyone with the right mindset, strategy, and determination can achieve financial success.
7. Risk-Taking is Essential
None of these women played it safe. They took risks—starting businesses, investing in new sectors, and making bold moves. While not every risk leads to success, calculated risks often bring the biggest rewards.
8. Learning Never Stops
Knowledge remains a common factor among the richest women in Africa. They continuously learn, adapt, and seek new opportunities. Staying informed and open to new ideas leads to long-term success.
Conclusion
The richest women in Africa prove that wealth comes from vision, persistence, and bold decisions. They dominate industries, create jobs, and inspire others to build lasting legacies.
One standout is Mo Abudu, whose success in media earned her global recognition. Forbes ranks her among the most influential women in business.
These women show that financial success is possible with the right strategy. Their journeys remind us that success is not given—it is earned.
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FAQs About the Richest Women in Africa
Who is the wealthiest woman in Africa?
As of recent rankings, Folorunsho Alakija is the wealthiest woman in Africa, with an estimated net worth of $1 billion. Her company, Famfa Oil, holds a major stake in one of the continent’s richest oil fields.
How did the richest African women make their money?
Most of the richest African women built their wealth through industries such as:
- Oil and Gas: Folorunsho Alakija made her fortune in petroleum exploration.
- Real Estate and Banking: Ngina Kenyatta expanded her wealth through banking and property investments.
- Retail and Fashion: Adenike Ogunlesi turned a small tailoring business into a multi-million-dollar clothing brand.
Who was the first female billionaire in Africa?
Isabel dos Santos was once recognised as Africa’s first female billionaire. She accumulated wealth through banking, telecommunications, and oil. However, legal challenges reduced her net worth significantly.
What are the top industries making women rich in Africa?
The richest female entrepreneurs in Africa have built empires in:
- Oil and Gas – A leading industry for wealth creation.
- Finance and Banking – Women like Ngina Kenyatta have investments in major financial institutions.
- Real Estate – Property remains a reliable source of wealth for many of Africa’s richest women.
- Media and Entertainment – Mo Abudu has dominated African media with EbonyLife TV.
How have wealthy women in Africa impacted the economy?
The richest businesswomen in Africa contribute to the economy in multiple ways:
- Job Creation: Their businesses employ thousands across different sectors.
- Investment in Startups: Many invest in growing African businesses, helping others build wealth.
- Philanthropy: Several donate to causes like healthcare, education, and women’s empowerment.
