Step aside, money moguls! It’s time to shine a spotlight on the richest women in Africa, who are rewriting the script on wealth and success. While you might be familiar with the big names dominating the “richest men” lists, these women prove that ambition and hustle have no gender.
From savvy entrepreneurs to industry titans, these women have built empires brick by brick, shattering glass ceilings along the way. You will be inspired as we embark on a journey through the net worth and inspiring stories of Africa’s richest women.
We’ll be celebrating their different paths to success, from self-made entrepreneurs who started with nothing to those who inherited fortunes and used them to empower others. Hold onto your hats, because these women are not just rich; they’re redefining what it means to be a force to be reckoned with.
1. Folorunsho Alakija (Nigeria)
Forbes projects that her net worth exceeded $1 billion as of March 2023. Alakija is a businesswoman and philanthropist with interests in fashion, oil, real estate, and printing.
She is the Executive Vice Chairman of Famfa Oil Limited and the founder of Rose of Sharon Group.
2. Ngina Kenyatta (Kenya)
In Kenya, everyone affectionately knows her as Mama Ngina. Her wealth is quite impressive, estimated at a whopping $1 billion as of May 2022. Not only is she the mother of Kenya’s former president, Uhuru Kenyatta, but she’s also a savvy businesswoman with significant investments across various sectors.
From banks and media outlets to even the dairy industry, her influence extends far and wide. Whether you’re dealing with your finances, catching the news, or enjoying a glass of milk, there’s a chance Mama Ngina’s business interests might touch your life in some way.
3. Hajia Bola Shagaya (Nigeria)
Hajia Bola Shagaya is a powerhouse businesswoman in Nigeria, worth a huge amount of money—around $950 million!
She’s the boss lady of Bolmus Group International, a company with its fingers in many pies, from oil and fancy buildings to banks, and she captures memories through photography. She’s even helped run a big bank called Unity Bank Plc before. Pretty impressive, right?
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4. Isabel dos Santos (Angola)
Isabel dos Santos used to be the richest woman in Africa, but now it’s unclear how much money she actually has. Legal problems and frozen assets make it hard to say for sure.
Some experts think she still has billions (like $2.2 billion), while others believe it’s much less. She used to work in different businesses like oil, news, and phone companies, but now those are being investigated, and some of her money is locked up.
5. Wendy Appelbaum (South Africa)
South Africa’s top richest woman? That’s Wendy Appelbaum, with a cool $168 million (or 2.6 billion Rand) to her name.
Owning the fancy Demorgenzon Wine Estate and holding big positions in other companies, she’s a real go-getter.
But even with all these impressive achievements, it’s important to remember that women in Africa still have a long road ahead to reach equal footing with men in terms of wealth and power.
Nollywood actress Stella Damasus is bursting with pride. On May 14, 2024, she took to Instagram to celebrate her daughter Angelica’s graduation from university. Damasus shared a heartwarming video collage featuring pictures from Angelica’s big day.
The caption brimmed with excitement, revealing that Angelica’s academic achievements were not only celebrated by her family but also landed her a prestigious Ivy League scholarship! This is a double dose of good news for the Damasus family, highlighting Angelica’s hard work and dedication.
She said,
“As my second daughter @angelicatooni graduates today from @columbia I give God all the honour and glory. I am grateful for his love, grace, mercy and favour. Angelica’s grades gave her a full scholarship in an Ivy league college. Yes! Today I have the right to brag. My last baby is done (for now 😜😜).”
Filled with joy she continued, “Proud mama moment y’all. More videos and pictures coming. Prepare to get sick of me 🤣🤣💃🏽💃🏽💃🏽💃🏽. Congratulations my princess. I love you beyond words.”
Many people filled the comment section with congratulations, and lots of people chiming in about how much Angelica looks just like her mom.
A follower commented, “For a moment I thought she was you❤️❤️❤️❤️Congratulations to her and you too ..We all pray that we experience our kids great successes.” Another said, “Congratulations, her face and yours are same sha ooo.”
Ä dumbfounded commenter said, “This is your twinnnnnnnnn, Coach!!! Wow,” and yet another said, “Congratulations to you dear @stelladamasus this one is your twin wow . The resemblance is exact. Congratulations dear sis . She will go on to do amazing things in this world. Welldone . Good job sis.”
Established fashion designer Veekee James recently shared some valuable wisdom with aspiring designers. In an Instagram post uploaded on May 14, 2024, she focused on the importance of brand protection. Veekee James offered key steps that up-and-coming designers can take to safeguard their creations and build a thriving fashion brand.
She wrote,
“I don’t know anything about the issue going around on social media so I can’t really speak on it! Here’s my advise as someone who has been there done that.”
In her advice to aspiring designers, Veekee James emphasised the importance of setting clear boundaries with clients, particularly regarding payment and social media recognition.
She cautioned designers against situations where a client offers social media recognition (tagging the designer on a post) instead of proper payment for their work. This puts the designer in a difficult position, forcing them to choose between financial security and potential brand exposure.
She suggests designers establish clear terms upfront with clients.
“Once anyone comes to you with the ‘Do you want money or tag’ phrase, You better run! I’ve had so many of your faves, both in this country and abroad, use that phrase with me and that was it! Today some of these people will give anything to be in my piece! No cap. It just shows no respect or regard for your brand! Once you allow that, it confirms the fact that your brand has no value whatsoever!” she warned.
In her talk, the designer stressed the importance of clearly communicating a brand’s values to celebrity clientele.
“Be wise! Don’t let money come first before the important things! Sacrifice in business is a must! As long as you have made glaring the values of your brand, be ready to collaborate sometimes only with celebs who respect you as well! Never forget that it’s a win-win for you and the celeb! No one is doing you a favour!”
The looks from this year’s AMVCA red carpet that were designed by Veekay James
She stressed the importance of both staying true to your beliefs and not relying solely on celebrity clients for publicity.
“Don’t be desperate to be known through a person! You must know that only God is the LIFTER of Men! He will use only the people He chooses to lift you! Don’t try to do what only God can do for your brand! Don’t expect publicity from every celebrity and make desperate decisions without thinking!” she said.
The celebrity designer added,
“If you want to be a fashion designer, go and research the true meaning of being a designer! So that you don’t end up being a tailor parading him or herself as a designer! If you are a designer, do the work of a designer!”
Nollywood star Toyin Abraham took a stand against online bullying on May 14, 2024. The actress and producer specifically addressed her fans and followers on her Instagram story, urging them to stop bullying or hurling insults at others in her name.
Her message highlights a growing concern about celebrity fan culture and the potential for online harassment. Toyin Abraham likely wants her fans to express their support positively, and she emphasises that she doesn’t condone negativity directed at others.
She said,
“Please don’t use a fan page created in my name to bully or curse anyone let people bully curse and abuse me as long as they wish or want. The Lord is my strength and will always be my strength please.”
— TOYIN ABRAHAM AJEYEMI (@toyin_abraham1) May 14, 2024
Her decision to share the post resonated with her audience. Many of her followers and supporters expressed their approval in the comments section.
A fan commented,
“Omo, people Dey do a lot this days… I understand sometimes that we have to reply them or interact with them, because only gods knows what you did wrong that they always find fault in what you do. God be with you Mum Ire.”
“You expect Someone like me to folds hands…?? Be like you don forget where I de follow U from, you have forgotten days of humble beginning abi? Make person soil ur name, make I fold? TOYIN, AYA AJEYEMI bami soro na,” another fan said in her defense.
“We no go hear, any slander or insult to you or your personality will be met with equal and proportionate response,” said another defensive fan. “No matter how good you are to people, they will still get back at you with ill and defame words.”
However, not everyone agreed with her stance. A comment that caught many eyes read, ”
“When you fuvked up… Netizen will treat your fuvk up. That’s what it is, we don’t celebrate hypocrisy and the masses matter.”
She’s the boss lady of Bolmus Group International, a company with its fingers in many pies, from oil and fancy buildings to banks, and she captures memories through photography. She’s even helped run a big bank called Unity Bank Plc before. Pretty impressive, right?
