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Top 10 Richest Women in Africa

Richest woman in africa

Africa is a continent where women are generally not allowed freedom to exercise their experience and ideas when compared to their western counterparts.

But now Africa can take pride in the success of African women. They have made strides in making the continent a better place to live in, and they are inspiring change in culture and perception about women leaders.

Also with the influx of higher standards of education, African women are beginning to experience freedom and the opportunity to become more enterprising.

Here are Ten women who have proven their worth, standing out to become the top 10 richest women in Africa and employers of thousands of people through companies and ventures that they manage. Also they inspire others with words of wisdom that helps in building a successful career.

1. Isabel Dos Santos – Net worth: $2.8 Billion

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Born: April 20, 1973
Country: Angola

Isabel Dos Santos is number one on the list of the richest women in Africa.

The 44-year-old is the oldest daughter of the super-rich Angolan President José Eduardo dos Santos.

She is in the board of directors of several companies in Angola and Portugal. Some of these are media companies and major banks in Portugal with interests in oil and diamonds.

She also has shares in Angolan cement company Ciminvest and the Banco Africano de Investimentos.

Isabel studied Engineering at the King’s College, London and started her first business when she was 24 years old.

She holds more than 14 percent stake in Portuguese media conglomerate Zon Multimedia. Also owns major stakes in Portuguese banks Banco Espírito Santo, Banco Português de Investimento. Also in energy firm Energias de Portugal.

Isabel investments have pushed her over the $1 billion mark making her the first African woman to become a billionaire.

2. Folorunso Alakija – Net worth: $1.54 Billion

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Born:July 15, 1951
Country: Nigeria

Folorunso Alakija who is a Nigerian billionaire. She is 66-year old and the second richest woman in Africa after Dos Santos.

She is a fashion designer and an Executive Director of FAMFA Oil. The gas and oil exploration and production company is currently worth over $600 million.

She was secretary of the now defunct International Merchant Bank of Nigeria in the 70’s, one of the West African nation’s earliest investment banks.

Folorunso went on to study fashion designing in the United Kingdom. Subsequently, she founded her fashion house company in Nigeria ‘Supreme Stitches’ in 1985 and within a year, she became the largest designer in Nigeria.

In 1993 Nigerian President Ibrahim Babangida awarded her company, Famfa Oil, an oil prospecting license. That later became one of Nigeria’s most prolific oil blocks with her company owning a 60% stake in the block.

In 2000, President Olusegun Obasanjo, the then president of the Federal Republic of Nigeria illegally acquired a 50% stake in the block without due compensation to Alakija or her company but the stake was later revoked by the supreme court.

3. Ngina Kenyatta – Net Worth $1 Billion

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Born: June 24, 1933
Country: Kenya

Ngina Kenyatta, popularly known as Mama Ngina, is the widow of Kenya’s first president, Jomo Kenyatta. She is one of the richest women in Africa, although she has mostly undeclared wealth, but would not pass without being mentioned among the wealthiest Ladies in Africa.

The 84-year-old gained lots of respect from Kenyan citizens for her stand in defending and promoting the family’s business interests which cut across the banking, farming, education, insurance, hospitality, manufacturing and real estate sectors.

Mama Ngina currently has a series of investments, stakes, and portfolios under her authority. Being a major shareholder in one of the largest privately owned banks in Kenya: the Commercial Bank of Africa (CBA). And also a chain of hotels (Heritage), the list is almost endless and also includes Brookside Dairies which is an East African leader in the dairy industry with market share reaching from East Africa to the Middle East.

Media Max; a media company and Timsales Timber are also part of her portfolio.

The latest investments are in the real estate sector and involves the development of a 500 acre Northlands City which is hoped to be the largest gated community in the region.

4. Hajia Bola Shagaya – Net Worth $630 million

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Born: October 10, 1959
Country: Nigeria

Bola Shagaya (58 years) is one of the richest women in Nigeria.

She is a businesswoman. The founder and CEO of Bolmus Group International. It is a diversified Nigerian conglomerate company with interests in oil, real estate, banking.

She is a board member of Unity Bank PLC. Bola is also involved in communications and photography.

Her investments span across to the oil sector, banking, and finance. Also real estate with hundreds of town houses in Nigeria’s choicest neighborhoods. She also owns properties in Europe and the United States.

Bola is also a board member of the National Economic Partnership for Africa Development (NEPAD), a Nigerian focused business group.

She seems to have aligned herself with important military and political figures in Nigeria.

She is reputedly very close to former Nigerian military president, Ibrahim Babangida and Nigeria’s first lady, Dame Patience Jonathan.

Bola Shagaya is one of the richest women in Africa today.

5. Wendy Appelbaum – Net Worth $259.3 Million

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Born: 1962
Country: South Africa

Wendy Appelbaum who is 56 years old is a South African millionaire. She became the director of her father’s insurance and real estate company “Liberty Investors”.

The only daughter of Donald Gordon, Appelbaum, a South African billionaire. She sold her shares to rake in her fortune.

Upon selling her shares, she made her own personal fortune. She was once the Deputy Chairman of Women’s Investment Portfolio Limited (Wiphold), the first women dominated company to list on the Johannesburg Securities Exchange (JSE) with the assets in excess of R1 billion.

She also invested in DeMorgenzon, a wine estate in the famous wine region of Stellenbosch.

Wendy Appelbaum’s net worth as of early 2012 is estimated at $259.3 million making her one of the richest women in Africa.

6. Wendy Ackerman – Net Worth $190.2 Million

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Wendy Ackerman is a South African retail tycoon, a Non-Executive Director of Pick N Pay Holdings Limited.

However, she runs the Ackerman Family Trust and worth around $190.2 million.

Although, her husband owns about 50 percent of the major South African grocery chain Pick ‘n’ Pay.

The $3 billion South African company has outlets in Nigeria, Zimbabwe, Australia, Namibia, Zambia, Mozambique, with Ackerman acting as Executive Director.

7. Irene Charnley – Net Worth $150 million

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Born: May 6, 1960
Country: South Africa

Irene Charnley is a 57-year-old South African and a former trade unionist with a net worth of $150 million.

She however spent 13 years as a negotiator for South Africa’s National Union of Mine workers.

She later became the Executive Director at MTN, Africa’s largest telecom company.

Currently, Irene Charnley is the CEO of Smile Telecoms, a telecommunications products company working out of Mauritius.

She spearheaded MTN’s expansion across Africa and beyond, and played a major role in acquiring Nigerian and Iranian operating licenses for the company.

However, in 2007, she left the company under controversial circumstances.

In addition to working with MTN, she was also a director of FirstRand Bank and Johnnic and Johnnic Communications.

However, ever estimated net worth of $150 million makes her one of the wealthiest women in Africa.

8. Bridget Radebe – Net Worth $100 Million

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Born: February 26, 1960
Country: South Africa

Bridget Radebe is the founder of the successful mining company Mmakau Mining in South Africa. Their operations are in gold, platinum, uranium, coal, chrome mining, and exploration.

The 57-year old started out this successful line by first becoming a mine worker herself overcoming gender inequalities.

And now the president of the South African Mining Development Association.

She is the older sister of South African billionaire Patrice Motsepe and married to South Africa Justice Minister Jeff Radebe.

Radebe’s network is not really known but she received the International Business person of the Year Award in 2008 from the Global Foundation for Democracy.

9. Sharon Wapnick – Net Worth $43.1 million

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Born: 1964
Country: South Africa

Wapnick is one of the largest individual shareholders in listed loan stock companies Octodec Investments and Premium Properties. Both were founded by her father Alec.

She is also a partner at TWB Attorneys, a Johannesburg-based commercial law firm. Her fortune was made in investments and real estate.

Although in October 2011, Wapnick stepped into the role of non-executive chairman of Octodec, replacing her father. An attorney, she also has a wealth of experience in the property industry. However, her net worth of around $43.1 million makes her one of the richest women in Africa.

10. Elisabeth Bradley – Net Work $32 million

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Born: 1962
Country: South Africa

Sitting on more than $32 million is Elisabeth Bradley, whose father Albert Wessels brought Toyota to South Africa in 1961.

However, her source of wealth is from investments in companies and assets.

In 2008, Wesco Investments which was the holding company that she was the chairman of, sold its 25 percent stake in Toyota South Africa to Japan’s Toyota Motor Corp for $320 million, with Bradley pocketing at least $150 million.

While remaining as the chairman of Wesco Investments South Africa, she is also the vice-chairman of Toyota South Africa Limited. A board member at blue-chip companies such as Standard Bank Group, Hilton Hotel, Roseback Inn and a director of AngloGold.

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