The landscape of African wealth is undergoing a remarkable transformation, driven by a powerful cohort of female entrepreneurs and investors. These women are not just accumulating riches; they are reshaping economies, creating legacies, and setting new benchmarks for leadership across the continent. From Nigeria to South Africa and Kenya, their journeys from diverse beginnings to the pinnacle of financial success offer powerful lessons in vision, resilience, and strategic acumen.
The Powerhouses: Africa's Top 10 Wealthiest Women
Compiled from reputable sources including Forbes and Business Daily Africa, this list reflects estimated net worths that are subject to change due to market dynamics and new business ventures. The ranking showcases a fascinating mix of self-made moguls and shrewd inheritors who have significantly grown their family's wealth.
Starting the countdown at number ten is South Africa's Wendy Appelbaum, with a fortune of $260 million. The daughter of Liberty Group founder Sir Donald Gordon, Appelbaum co-founded the Women’s Investment Portfolio Holdings (Wiphold) and later diversified into agribusiness with the acquisition of De Morgenzon Wine Estate. Her philanthropic efforts earned her the Forbes Africa Woman of the Year award in 2015.
In ninth place is Nigeria's media titan, Mo Abudu, valued at $600 million. After a successful career in human resources at ExxonMobil, Abudu founded EbonyLife TV, Africa's first global Black entertainment network. Her production company is behind Nollywood hits like The Wedding Party and Chief Daddy, cementing her status as a cultural force.
From Fashion to Pharmaceuticals: Diverse Avenues to Wealth
The list highlights the vast sectors where these women have thrived. At number eight, South Africa's Precious Moloi-Motsepe ($800 million) built her empire through Africa Fashion International (AFI) and co-founded the influential Motsepe Foundation with her husband.
Zimbabwe's Divine Ndhlukula ($809 million) takes the seventh spot, proving that security services are a viable path to wealth. She founded SECURICO, one of Zimbabwe's leading security firms, and expanded into agriculture with Zvikomborero Farms.
Nigerian architect and businesswoman Fifi Ekanem Ejindu ($850 million) shares the sixth position. As the head of the Starcrest Group, her interests span real estate, oil and gas, and construction, showcasing a diversified investment strategy.
Tied with Ejindu is Dr. Stella Okoli ($850 million), a Nigerian pharmacist who founded Emzor Pharmaceutical Manufacturing Company in 1977. With over 27 years in the industry, her company is a major player in Nigeria's healthcare sector.
Daisy Danjuma ($900 million) ranks fourth. The former Nigerian senator and executive chairman of South Atlantic Petroleum (SAPETRO) demonstrates how leadership in politics and corporate boardrooms can converge to build substantial wealth.
The Billionaire Circle and Near-Billionaires
The top three spots are occupied by women whose fortunes approach or reach the ten-figure mark. In third place is Nigerian business magnate Hajia Bola Shagaya ($950 million). Starting in the Central Bank of Nigeria's audit department, she now leads Bolmus Group International, with vast holdings in oil, real estate, and banking through Practoil Limited.
Kenya's former first lady, Ngina "Mama Ngina" Kenyatta, is tied for the top spot with a net worth of $1 billion. As the widow of founding president Jomo Kenyatta and mother of former president Uhuru Kenyatta, she has grown the family's wealth through astute, long-term investments in banking, hospitality, media, agriculture, and real estate.
Sharing the number one position is Nigeria's Folorunsho Alakija, also worth $1 billion. A former fashion designer turned oil magnate, Alakija serves as executive vice chairman of Famfa Limited. She is also a prolific author and philanthropist, having founded the Rose of Sharon Foundation to support widows and orphans.
The Fall of a Former Titan
The article also addresses the dramatic reversal of fortune for Angola's Isabel dos Santos, who was once heralded by Forbes as Africa's richest woman with over $2 billion. Following extensive asset freezes, sanctions, and legal disputes in Angola, Portugal, and the UK related to corruption investigations, she was delisted from the billionaire rankings in 2021. This serves as a stark reminder of how legal challenges can impact even the largest fortunes.
In conclusion, these ten women represent the dynamic and growing force of female economic power in Africa. Their stories are not merely about wealth but about transforming opportunities into lasting empires across oil, finance, media, fashion, pharmaceuticals, and agriculture. They are redefining leadership and inspiring a new generation of entrepreneurs across the continent.
