Success is not limited by gender.
Women have become strong influences in reshaping African economies and it’s important to acknowledge their impact and how they challenged traditional norms.
This blog post explores the lives, businesses, and impact of the richest women in Africa. These entrepreneurs have built huge fortunes, supported causes, uplifted communities, and inspired future generations.
Get ready to be inspired by their stories.
Folorunso Alakija
Net Worth: $1 billion
Country: Nigeria
Folorunso Alakija is a Nigerian billionaire and the richest woman in Africa. She made her fortune in both fashion and oil businesses. In 1996, she founded her fashion label, Supreme Stitches, later renamed The Rose of Sharon House of Fashion. Her fashion brand served the Nigerian elites, making her very wealthy.
In the early 1990s, she shifted gears to focus on the oil industry and founded Famfa Oil Limited. Her company struck oil in the Agbami field, turning her into a billionaire. Despite her wealth, she remains dedicated to helping others through the Rose of Sharon Foundation, which supports widows, orphans, and women’s empowerment in Nigeria.
Alakija has been listed among Forbes World’s 100 most powerful women multiple times. Her story teaches us that resilience, adaptability, and a commitment to helping others are crucial ingredients for achieving remarkable business success.
Ngina Kenyatta
Net Worth: $1 billion
Country: Kenya
Ngina Kenyatta, or “Mama Ngina,” is the second richest woman in Africa, with an estimated net worth of $1 billion. She played a significant role as the former First Lady in Kenya’s history. Born in 1933, she married Jomo Kenyatta in 1951, who later became Kenya’s first president.
Throughout her husband’s presidency, Ngina was regarded as the “mother of the nation” because of her grace and influence. She actively participated in various social initiatives, notably leading Kenyan Guiding in 1965, demonstrating her commitment to the nation’s development despite controversies.
Beyond her role as First Lady, Ngina was also a prominent businesswoman, amassing extensive wealth through ownership of properties, including plantations, ranches, and hotels. Mama Ngina Kenyatta’s life shows how strong, flexible, and devoted she was to her family and country.
Bola Shagaya
Net Worth: $950 million.
Country: Nigeria
Bola Muinat Shagaya, born on October 10, 1959, is a successful Nigerian businesswoman with a net worth of $950 million. She is known for her various business ventures and achievements.
Bola is the founder and CEO of Bolmus Group International, which invests in real estate, oil and gas, banking, and photography. She also manages Practoil Limited and serves on the board of Unity Bank Plc.
In 2010, she was honored as a Member of the Order of the Niger (MON), and she’s regularly listed among Africa’s wealthiest women by publications like Forbes.
Bola Shagaya’s business success has made her a well-known figure in Nigeria and Africa. She inspires others to work hard and positively impact their communities.
Fifi Ejindu
Net Worth: $850 Million
Country: Nigeria
Fifi Ejindu is a Nigerian architect and businesswoman with an estimated net worth of $850 million. She comes from a royal family, with her great-grandfather being a respected Efik king. She proudly carries the title H.H. The Obonganwan King James.
Her education is also impressive: She was one of the first African women to get a Bachelor’s in Architecture from Pratt Institute in New York and later a Master’s in Urban Planning from MIT. She returned to Nigeria and founded the Starcrest Group, which encompasses diverse real estate, construction, oil and gas, project management, and youth empowerment subsidiaries.
Fifi Ejindu has dramatically impacted the industry, earning awards like the African Arts and Fashion Lifetime Achievement Award. She’s known for more than just business; she is also an influential philanthropist advocating for notable causes around the globe.
Read Also: Adaora Umeoji: Zenith Bank’s First Female CEO
Wendy Appelbaum
Net Worth: $850 million
Country: South Africa
Wendy Appelbaum, born July 15, 1951, is a notable South African businesswoman and philanthropist known for her leadership and dedication to social causes. She leads DeMorgenzon Estate, a renowned wine farm, and established The Wendy Appelbaum Foundation, which focuses on improving health and education for South African women.
Appelbaum’s accomplishments have earned her prestigious recognition, including being named Forbes Woman Businesswoman of the Year and Forbes Africa Woman of the Year.
Wendy Appelbaum’s journey exemplifies resilience, leadership, and a steadfast commitment to positive change and influencing others in South Africa and beyond.
Stella Okoli
Net Worth: $800 Million.
Country: Nigeria
Stella Okoli is a distinguished figure in Nigeria’s pharmaceutical industry. She has made an impact through healthcare and entrepreneurship. She is considered one of the wealthiest women in Africa, with an estimated net worth of around $800 million.
Driven by her passion for pharmaceuticals, she founded Emzor Pharmaceutical in 1977, which has since grown into one of Nigeria’s leading pharmaceutical companies, offering a wide range of products and impacting healthcare accessibility nationwide.
She is known for her philanthropy, notably through the Chike Okoli Foundation, which fights poverty and diseases. She’s received many awards for her work; her legacy as an entrepreneur and healthcare advocate inspires many.
Wendy Ackerman
Net Worth: 190.2 million
Country: South Africa
Wendy Ackerman, born July 15, 1951, is a notable South African businesswoman and philanthropist. She pursued her education at prestigious institutions such as the University of Cape Town, the University of Witwatersrand, and the University of South Africa.
Wendy’s career path started as a teacher before she joined her husband’s company, Pick n Pay Stores, in 1981. Together, she and her husband, Raymond Ackerman, transformed the store into one of Africa’s largest supermarket chains.
Beyond business, Wendy is deeply committed to philanthropy, serving as a trustee for educational trusts and funds providing opportunities for students across South Africa.
Forbes estimates her net worth at $190.2 million, cementing her position as one of the wealthiest women in Africa.
Irene Charnley
Net Worth: $150 million
Country: South Africa
Irene Charnley, born on May 6, 1960, has had a remarkable career in South Africa and is estimated to be worth $150 million. She first gained prominence as a negotiator for the National Union of Mineworkers, advocating for workers’ rights and empowerment for 13 years.
Then she transitioned into the corporate realm as an executive director at the MTN Group. She played a pivotal role in expanding MTN’s network into multiple African and Middle Eastern countries, showcasing her transformative leadership in the telecommunications sector.
Charnley didn’t just focus on business; she also started the National Empowerment Consortium. This helped many disadvantaged people in South Africa by giving them a stake in Johnnic Holdings, which later became Johnnic Communications.
She is the founder and former CEO of Smile Telecoms Holdings Ltd, a Pan-African telecommunications group operating in several countries. She is recognised as one of Africa’s Most Powerful Women.
Sharon Wapnick
Net Worth: $120 million
Country: South Africa
Sharon Wapnick is a respected figure in the business world, known for her expertise in legal matters such as commercial litigation and constitutional law. She was a prominent partner at Tugendhaft Wapnick Banchetti & Partners (TWB) and earned her BA and LLB with top honors from the University of the Witwatersrand.
Sharon holds significant positions in at least four companies. She is a Chairman at Octodec Investments Ltd and board memberships at Transaction Capital Ltd., City Property Administration Pty Ltd, and IPS Investments Pty Ltd. She also has experience as the Non-Executive Chairman at Premium Properties Ltd. Her net worth is estimated to be $120 million, showcasing her impactful presence and success in the business realm.
Bridgette Radebe
Net Worth: $100 million
Country: South Africa
Bridgette Radebe is a South African businesswoman with an estimated net worth of $100 million; her impact extends beyond business, shaping positive change and empowerment in South Africa and beyond.
She began mining in the 1980s before founding Mmakau Mining, a successful company specializing in platinum, gold, and chrome exploration and production. She advocates responsible mining practices and empowerment.
Beyond her ventures, she holds critical leadership roles, including President of the South African Mining Development Association and positions on various boards. She has received prestigious awards, such as the International Businessperson of the Year.
Conclusion
The top 10 richest women in Africa have achieved a lot through hard work and determination. Not only have they made a lot of money, but they’ve also helped make positive changes in their communities and challenged old-fashioned ideas.
These women show that anyone can succeed, no matter where they’re from or what obstacles they face. They’ve left a significant mark on their industries and inspired many people. Let their stories inspire you as you work towards fulfilling your dreams.