Africa, a continent renowned for its breathtaking landscapes and vibrant cultures, is also rapidly emerging as a hub of wealth creation, particularly among high-net-worth individuals (HNWIs). The 2024 Africa Wealth Report by Henley & Partners reveals that Africa is home to a staggering 135,200 HNWIs, individuals possessing liquid investable assets of $1 million or more. Among these affluent individuals, a significant number are women, whose entrepreneurial spirit and business acumen are reshaping the continent's economic landscape. Today, we delve into the lives and achievements of ten of the most influential and richest women in Africa, highlighting their journeys to wealth and their profound impact on the continent.
Folorunsho Alakija: A Billionaire's Blend of Business and Philanthropy
At the forefront of African female wealth stands Folorunsho Alakija, a Nigerian powerhouse with a net worth of approximately $1 billion. Born on July 15, 1951, Alakija is the vice-chair of Famfa Oil, which holds a substantial stake in Nigeria's prolific Agbami Oilfield. Her entrepreneurial journey began in the fashion industry, where her design label quickly gained prominence. Beyond her business ventures, Alakija is deeply committed to philanthropy, demonstrating a dedication to giving back to her community. Her success story is a testament to the power of diversification and social responsibility in building lasting wealth.
Mama Ngina Kenyatta: A Legacy of Business and Influence in Kenya
In Kenya, Mama Ngina Kenyatta, the widow of the nation's first president, Jomo Kenyatta, and mother of former president Uhuru Kenyatta, holds a fortune estimated at $1 billion. Her wealth stems from diversified investments, including significant stakes in the Commercial Bank of Africa, Heritage Hotels, and Brookside Dairy. Despite her age, Mama Ngina continues to be a formidable figure in Kenyan business and philanthropy, solidifying her legacy as a key player in the nation's economy.
Hajia Bola Shagaya: Bridging Passion and Business in Nigeria
Hajia Bola Shagaya, a Nigerian entrepreneur with a net worth of approximately $950 million, exemplifies the successful fusion of passion and business. Born on October 10, 1959, she heads Bolmus Group International, a conglomerate spanning communication, finance, and real estate. Her journey from a Central Bank of Nigeria auditor to a fashion entrepreneur showcases her adaptability and strategic business thinking, contributing significantly to Nigeria's economic diversity.
Daisy Danjuma: A Champion of Women's Rights and Community Service
Nigerian lawyer and philanthropist Daisy Danjuma, with a net worth of around $900 million, is known for her political career as a senator and her leadership in various foundations. Her dedication to community service and women's rights, evident in her work with organizations like the Women at Risk International Foundation (WARIF), underscores her commitment to social development alongside her business success.
Dr. Stella Okoli: Pioneering Pharmaceutical Excellence in Nigeria
Dr. Stella Okoli, born on January 4, 1944, founded Emzor Pharmaceutical Industries Limited, a leading pharmaceutical company in Nigeria. With a net worth of approximately $850 million, Okoli's entrepreneurial spirit has significantly impacted Nigeria's healthcare sector. As the Vice President of the Manufacturers Association of Nigeria, she also influences the broader manufacturing industry, driving economic growth and innovation.
Wendy Applebaum: Empowering Women Entrepreneurs in South Africa
South African entrepreneur Wendy Applebaum, daughter of billionaire businessman Donald Gordon, has a net worth of $260 million. Known for her ownership of De Morgenzon Wine Estate, Applebaum is also a strong advocate for women entrepreneurs through initiatives like Women’s Investment Portfolio Limited. Her efforts to empower women in business contribute to South Africa's economic development and gender equality.
Wendy Ackerman: A Retail Pioneer and Community Advocate
Wendy Ackerman, co-founder of South Africa’s retail giant Pick ‘n Pay, has a net worth of approximately $200 million. Her contributions to the retail sector and community service have earned her numerous accolades, including the B’nai B’rith Humanitarian Award. Ackerman’s proactive role in the consumer business sector has significantly impacted South Africa's retail landscape.
Irene Charnley: A Telecommunications Trailblazer and Women's Rights Advocate
Irene Charnley, a pioneer in telecommunications, played a crucial role in MTN's expansion across Africa. After leaving MTN, she founded Smile Telecoms, further solidifying her influence in the telecommunications sector. With a net worth of $150 million, Charnley also champions women's rights as President of the International Women’s Forum South Africa, demonstrating the intersection of business success and social responsibility.
Bridgette Radebe: Breaking Barriers in South Africa's Mining Industry
Bridgette Radebe, sister to Patrice Motsepe, has carved her own path in the mining industry as the founder of Mmakau Mining Limited. Her determination to overcome legislative barriers that previously restricted women's ownership of mining rights exemplifies her resilience and leadership. With a net worth of around $50 million, Radebe has paved the way for future generations of female entrepreneurs in the mining sector.
Vanessa Gounden: A Multifaceted Businesswoman Redefining Wealth
Rounding off our list is Vanessa Gounden, a South African businesswoman with a diverse portfolio, including HolGoun Investment Holdings and her fashion brand, Vanessa G London. With a net worth of approximately $38 million, Gounden’s ventures reflect the dynamism and versatility of women in modern business, contributing to South Africa's economic diversity and innovation.
These ten women represent the spirit of entrepreneurship, hard work, and philanthropy, reshaping the narrative of women's wealth in Africa. Their stories are not only inspiring but also crucial for understanding the economic impact of female entrepreneurs on the continent. By challenging stereotypes and driving economic growth, these women are paving the way for future generations of female leaders.
