Top 10 Richest Women in Africa & Net Worth (2024)

Who are the wealthiest women in Africa as of 2024?

Indeed, Africa is home to some of the most successful businesswomen in the world, who have built immense fortunes across industries like oil & gas, finance, mining, real estate and more.

The rising number of women entrepreneurs and executives in Africa has led to a major growth in women-held wealth on the continent. But which business moguls take the top 10 spots when it comes to net worth?

richest african women

In this article, we highlight the 10 richest African women for the year 2024, exploring how they have amassed their grand fortunes estimated to be worth billions of dollars.

The list includes familiar faces who have dominated the ranks of Africa’s wealthiest women for years now, as well as new names making their debut among the super-rich.

How did they get to this point? This article will explain a little on their background and how they became rich.

TOP 10 RICHEST WOMEN IN AFRICA & NET WORTH (2024)

Below is the highlight of the top ten richest women in Africa and their respective net worth.

FOLORUNSHO ALAKIJA (NIGERIA) – $1.55 BILLION

Folorunsho Alakija is the richest woman in Africa. She has a net worth of $1.55 billion to earn this position.

Folorunsho is a Nigerian businesswoman who made her wealth in the oil industry. Alakija started out as a secretary in the 1970s before establishing a tailoring company.

Alakija owns a top oil company in Nigeria, Famfa Oil. Apart from oil, Alakija invests heavily in real estate in the UK and Nigeria through her company Rose of Sharon Group.

She also has minority stakes in Notore Chemical Industries and MTN Nigeria. Forbes estimates her current net worth at $1.55 billion.

Making waves in the male-dominated oil sector, Alakija is an inspiration to many women in Africa. Through hard work and perseverance, she has built herself into a leading business tycoon.

NGINA KENYATTA (KENYA) – $1 BILLION

Ngina Kenyatta is ranked by Forbes among the richest people in Africa. She is the widow of Kenya’s first President, Jomo Kenyatta. Her fortune comes from substantial land holdings, stakes in various private companies and investments.

Among Ngina vast business interests are stakes in Commercial Bank of Africa, Brookside Dairies, Media Max and Heritage Hotels, among others.

She is known to be publicity-shy and maintains a low profile. Along with her children and grandchildren, the Kenyatta family is considered one of the richest families in Africa.

Now in her 80s, Ngina remains an influential figure in Kenya through her investments. She also oversees several charitable trusts, including the Jomo Kenyatta Foundation.

With her vast business empire spanning various sectors, she continues to maintain her position as one of the richest women in Africa.

HAJIA BOLA SHAGAYA (NIGERIA) – $950 MILLION

Hajia Bola Shagaya has built up a fortune estimated at $950 million, emerging as one of Africa’s richest women. Her investments are centered on various industries in her native Nigeria.

One of her most valuable assets is considered to be her stake in oil exploration firm Seplat Petroleum Development Company Plc. She also owns extensive real estate in Europe and Africa, ranging from commercial, residential to retail properties.

Additionally, Hajia is the founder and CEO of technology solutions provider, Bolmus Group International. All of these cements her position among the wealthiest African businesswomen.

DR STELLA OKOLI (NIGERIA) – $800 MILLION

Dr Stella is the founder and CEO of Emzor Pharmaceutical Industries Limited, one of the largest pharmaceutical manufacturers in West Africa.

She started Emzor with only $15,000 in 1977 and built it into a company with more than $100 million in revenues and market share exceeding 30% in Nigeria.

Emzor manufactures and markets a wide range of drugs and health products including antimalarials and wheelchairs. Okoli’s journey into manufacturing began after she lost her son to cerebral malaria.

She learned about drug manufacturing and sold her cars and jewelry to acquire a small manufacturing facility.

Today, Emzor has one of the largest manufacturing facilities in West Africa and employs over 2000 people.

DAISY DANJUMA (NIGERIA) – $800 MILLION

With an estimated net worth of $800 million, Daisy Danjuma is one of the richest women entrepreneurs in Africa. She is the wife of Nigerian billionaire and former Defense Minister Theophilus Danjuma.

She is the co-founder and current chairperson of Nigeria’s largest independent crude oil exploration company, South Atlantic Petroleum Ltd (SAPETRO).

She began SAPETRO in 1995 along with her husband after obtaining oil prospecting licenses from the Nigerian Government.

She also sits on the board of many other companies, including Falcon Gold Zimbabwe Limited and Riverson Holdings Limited.

With significant control over Nigeria’s oil resources, Daisy Danjuma remains a powerful figure in Africa’s corporate scene.

IRENE CHARNLEY (SOUTH AFRICA) – $150 MILLION

Irene Charnley is Executive Director at Smile Telecoms Holdings Ltd and has a net worth estimated at around $150 million currently.

She initially worked as a trade unionist with the National Union of Mineworkers in South Africa. Later she became Personal Assistant to the chief executive at MTN during the company’s early stages.

She helped secure funding for the company and played a key role in its rapid expansion across Africa and the Middle East, building it into one of Africa’s most successful multinationals.

She eventually stepped down from an executive role in late 2007 citing health reasons, while controversially receiving a $14 million payment.

She still maintains a small shareholding in MTN valued at around $30 million. Irene has positioned herself as one of Africa’s prominent female executives.

WENDY ACKERMAN (SOUTH AFRICA) – $190 MILLION

Retailing tycoon Wendy Ackerman is worth over $190 million currently. She is the widow of Philip Ackerman, a South African businessman and former Chairman of Pick ‘n Pay Stores Limited.

After the death of her husband in 1983, Wendy inherited various key assets of the business including a significant shareholding in Pick ‘n Pay, which her husband had co-founded in 1967.

Under Ackerman’s leadership, Pick ‘n Pay grew to become Southern Africa’s largest supermarket chain, with over 1800 stores and $3 billion in revenues.

ISABEL DOS SANTOS (ANGOLA) – $300 MILLION

Once dubbed Africa’s wealthiest woman, Isabel dos Santos net worth has declined significantly but she still retains an estimated fortune of around $300 million as of early 2024.

Isabel is the oldest daughter of Angola’s longtime former president, Jose Eduardo dos Santos.

Isabel built up her investments mostly through foreign partnerships and made substantial early investments in mobile telecom and banking among other sectors in Angola.

However, Angola has frozen her assets and obtained international arrest warrants over allegations of mismanagement and corruption totaling over $1 billion.

While she remains an influential businesswoman, her future as one Africa’s wealthiest women remains uncertain.

WENDY APPLEBAUM (SOUTH AFRICA) – $259 MILLION

Wendy Applebaum is a prominent businesswoman, investor and horse breeder. She is the daughter-in-law of property tycoon Donald Gordon.

Along with her husband Nathan, she inherited close to one-third of the Liberty Investors portfolio upon Gordon’s passing in 2019, which included sizable stakes across various SA blue chip firms like Liberty Holdings, Standard Bank as well as holdings in hotels and malls.

BRIDGET RADEBE (SOUTH AFRICA) – $25 MILLION

Bridget Radebe is South Africa’s first black female mining entrepreneur and currently has a net worth around $25 million.

Born in the mining town of Imandele, her father worked at the gold mines while her mother was a domestic worker. She learned business skills from her mother, watching her run informal businesses from home.

Later Bridget studied geology and mining engineering. After working in the industry for several years, she decided to start her own mining company.

Through her trailblazing accomplishments in mining, she has solidified her position among Africa’s wealthiest women.

CONCLUSION

The top 10 richest women in Africa have shown that female leaders can thrive at the highest level. Their stories are unique but they share key traits – courage, creativity and determination.

Through hard work they built vast fortunes, created jobs and helped open doors for future female success stories.

Africa will surely see more females join their exclusive billionaires club over time. But for now, hats off to the current queens of African wealth who inspire millions across the continent with their extraordinary journeys to the top against all odds.

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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