Africa is home to some of the wealthiest people in the world. In fact, the 2024 Africa Wealth Report published by international wealth advisory firm Henley & Partners disclosed that there are currently 135,200 high-net-worth individuals (HNWIs) with a liquid investable wealth of $1 million or more living in Africa, along with 342 centi-millionaires worth $100 million or more, and 21-dollar billionaires.
Of these a sizeable number are women who are billionaires and millionaires in their own right, going toe to toe with the likes of Aliko Dangote and Femi Otedola. We look at the 10 richest women in Africa as of 2024.
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1. Folorunsho Alakija
Folorunsho Alakija is a Nigerian businesswoman and philanthropistAfrica. Born on July 15, 1951, Folorunsho is vice chair of Famfa Oil, a Nigerian oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset.
Her first company was a fashion company that quickly rose to prominence making her a household name. Folurunsho has a net worth of about $1 billion according to Forbes.
2. Ngina Kenyatta
Ngina Kenyatta is the widow of Kenya’s first president Jomo Kenyatta. She is popularly referred to as Mama Ngina and is one of the wealthiest women on the continent. Mama Ngina is also the mother of Kenya’s former president Uhuru Kenyatta.
The 86-year-old has several businesses and stakes in several companies including a 24.91% in the commercial bank of Africa, which is one of Kenya’s biggest privately held banks. Mama Ngina also in the Heritage hotel chain, Brookside Dairy, Timsales Timber and Media Max. She is worth $1 billion.
3. Hajia Bola Shagaya
Hajia Bola Muinat Shagaya is a Nigerian businesswoman with a love for fashion. She was born on October 10 1959 and is the founder and CEO of Bolmus Group International. Bonus Group deals in communications, finance, real estate, and oil.
True to her real estate icon identity, Hajia owns several townhouses in Nigeria’s best and most opulent neighbourhoods. She also owns real estate in Europe and the United States.
The tycoon was an auditor for the Central Bank of Nigeria before she turned to entrepreneurship and started import business that focused on photography equipment. Hajia is also the managing director of Practoil Limited, one of Nigeria’s largest importers and distributors. She has a net worth of $950 million.
4. Daisy Danjuma
Daisy Danjuma is a Nigerian lawyer, businesswoman and philanthropist. She was born on August 6, 1952, in Benin City, Nigeria. Danjuma is passionate about politics and even served as the senator of Nigeria’s Edo South Senatorial District of Edo State at the Nigerian Senate from 2003 to 2007. She vied for the seat again in 2011 but was not successful.
Danjuma is the Chairman Board of Trustees of the H I D Awolowo Foundation, a Member Board of Trustees of the Women at Risk International Foundation (WARIF), the Chairman Board of Trustees of Lagos Public Interest Law Partnership (LPILP), the Chairman of the May and Baker Nigeria Plc and the executive chair of the South Atlantic Petroleum (SAPETRO), a Nigerian oil and gas exploration and production company.
The former senator is also a member of the International Bar Association (IBA), the Nigerian Bar Association (NBA) and the International Federation of Female Lawyers (FIDA). Her estimated net worth is $900 million.
5. Dr Stella Okoli
Dr Stella Chinyelu Okoli is a Nigerian pharmacist, entrepreneur and philanthropist. She was born on January 4, 1944. She founded Emzor Pharmaceutical Industries Limited and currently serves as the company’s Managing Director and Chief Executive Officer.
She also serves as the Vice President of Manufacturers Association of Nigeria and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture. Okoli’s net worth is estimated to be around $850 million.
6. Wendy Applebaum
Wendy Applebaum is a South African mogul with a net worth of about $260 million. She is the daughter of billionaire businessman Donald Gordon and has taken after him in terms of her entrepreneurial spirit and wit.
Applebaum is the Owner and Chair of De Morgenzon Wine Estate in Stellenbosch. In the pats she served a s a director in her father’s company, Liberty Group Investors.
Notably, she was one of the company’s largest individual shareholders. However she later sold her shares in the company and partnered with he rhusband to start a wine farm, making a fortune in the process. Applebaum’s first business venture was a company called Women’s Investment Portfolio Limited (Wiphold), which was was the first female-controlled company to list on the JSE.
7. Wendy Ackerman
Wendy Ackerman is one of the founders and an Executive Director of Pick ‘n Pay stores. She comes from South Africa and her spouse owns nearly half of the Pick & Pay retail chain.
She has received several awards including the B’nai B’rith Humanitarian Award; Woman of the Year, Union of Jewish Women, 1982, the Paul Harris Fellowship Award from Rotary International and an award from CEO Magazine in recognition of her achievements in the consumer business sector. Ackerman’s net worth is about $200 million.
8. Irene Charnley
Irene Charnley is a South African businesswoman and former trade unionist. Charnley is the Executive Director of MTN, the biggest telecommunications company in Africa.
She is responsible for MTN’s expansion in Africa and beyond, although she left the company in 2007. She founded Smile Telecoms in 2007 and served in different positions in the company including the CEO and deputy Chairman.
Charnley is also the President of the International Women’s Forum South Africa and Chairman of the Gibela Rail Transport Consortium. The mogul’s net worth is $150 million.
9. Bridgette Radebe
Bridgette Radebe is a South African businesswoman and sister to one of Africa’s wealthiest men, Patrice Motsepe. She is deemed the first black female mining entrepreneur having founded Mmakau Mining Limited.
This is one of her most notable achievements as she established the company in contradiction of legislation barring women from owning mining rights or working in mines. Years later, Radebe’s mining company has has equity in platinum mines, chrome, coal and gold. Bridgette has a net worth of about $50 million.
10. Vanessa Gounden
Vanessa Goundedn in a south African businesswoman. She is the co-founder of HolGoun Investment Holdings, a South African investment holding company with interests in coal and uranium, founded in 2003.
The millionaire also founded an eponymous fashion label Vanessa G London in 2011. Her net worth is approximately $38 million.
