Top richest women in Africa

Africa is an amazing continent full of natural resources and innovations. Today, some of Africa's leading entrepreneurs from across this diverse land have turned those resources into massive empires. Most of the top richest women in Africa are successful businesswomen. We shall take a look at the top richest women in Africa.

1 . Isabel Dos Santos – $2 billion

Isabel Dos Santos - The Richest Woman In Africa

Africa’s Richest Woman, Isabel Dos Santos.

Isabel Dos Santos is the richest woman in Africa with an estimated net worth of $2 billion. She is the daughter of the famous former Angolan president, Jose Eduardo Dos Santos.

She owns several businesses and stakes in different companies which include: Unitel S.A, Zon Multimedia, Banco Espirito Santo, Banco Portugues de Investimentos, and Energias de Portugal.

In January 2021, Forbes reported that Africa’s Richest Woman went broke following a couple of corruption charges by the Angolan authorities which led to the freezing of her assets.

2. Folorunso Alakija – $1 billion

Folorunso Alakija is a Nigerian businesswoman who made her wealth from oil and gas, fashion printing industries, and real estate.

The Lagos-born Nigerian billionaire started as a banker before moving into the fashion industry in the 1970s. Alakija launched her fashion company, Supreme Stitches (now Rose 0f Sharon House of Fashion). She is also the Executive Vice Chairman of FAMFA OIL, a family-owned business.

Forbes Magazine listed her as one of the most influential women in 2016; world billionaires in 2019; and Africa’s billionaires in 2020.

As of 2022, Alakija is the richest woman in Nigeria and the second richest woman in Africa with an estimated net worth of $1 billion.

3. Ngina Kenyatta – $1 billion

Ngina Kenyatta, Kenya’s former first lady popularly known as “Mama Ngina”, is the richest woman in Kenya and the 4th richest woman in Africa.

Kenyatta was the wife of the first president of Kenya, Jomo Kenyatta who ruled from 1964 to his death in 1978. She is also the mother of Uhuru Kenyatta, the current president of Kenya serving since 2013.

Currently, Mama Ngina is in charge of the family’s company, which includes banking, farming, education, insurance, manufacturing, and real estate.

With an estimated net worth of $1 billion, Ngina Kenyatta is one of the richest women in Africa.

4. Hajia Bola Shagaya – $630 million

Hajia Bola Shagaya is one of the top 10 richest women in Africa and the second richest woman in Nigeria. She has an estimated net worth of $630 million.

Unlike most women on this list, Bola Shagaya was born into an average-income family but chose not to settle for less. To this end, she ditched her career path as an auditor at the Central Bank of Nigeria (CBN) to establish her world in entrepreneurship.

Shagaya started as the CEO of Bolmus International Limited, a company she established and grew to be the most successful photography importation and distribution in Nigeria and West Africa. Thereafter, she moved on to explore oil and gas, real estate and several other businesses.

5. Wendy Appelbaum – $152 million

With an estimated net worth of $152 million, Wendy Appelbaum is not only one of the richest and most powerful women in Africa but also the richest woman in South Africa.

She is the daughter of South African billionaire, Sir Donald Gordon. Appelbaum started her career in her father’s real estate company as a director and currently chairs the De Morgenzon Wine Estate. The company’s first vintage wine, Chenin Blanc won her several accolades for its unique taste.

In 2015, she was named the Woman of the Year (Africa) and Businesswoman of the Year by Forbes Magazine. By 2020, Forbes listed her as one of the most powerful women in Africa