President dos Santos’ daughter beats Folorunsho Alakija, emerges Africa’s richest woman in 2018 with a whopping $2.7 billion

President dos Santos’ daughter beats Folorunsho Alakija, emerges Africa’s richest woman in 2018 with a whopping $2.7 billion

Isabel dos Santos, an Angolan businesswoman and eldest daughter of Angola’s longtime former president, Jose Eduardo dos Santos, has emerged Africa's richest woman with a whopping $2.7 billion, according to Forbes 2018 list.

Out of the 23 African billionaires featured on Forbes 2018 list, only two are women; Isabel dos Santos and Folorunsho Alakija, unchanged from last year.

Isabel dos Santos is worth an estimated $2.7 billion this year, down from $3.2 billion a year ago.

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Her net worth reportedly dropped in part due to a lower value for Banco BIC, an Angolan bank; its book value plunged in 2016 amid a tough year for the oil-producing country.

Isabel beat Folorunsho Alakija, whose estimated $1.6 billion fortune lies in oil exploration firm Famfa Oil.

Famfa Oil partners with Chevron and Petrobras on a lucrative offshore oil field.

Legit.ng previously reported that the chairman and chief executive officer of Dangote Group, Alhaji Aliko Dangote, was named the African richest person for the seventh year in a row by Forbes magazine.

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Dangote who is Nigerian cement and commodities tycoon, with a net worth that Forbes pegged at $12.2 billion is up by $100 million from the previous year.

Dangote is looking beyond cement his most valuable asset and has been investing in a fertilizer production company and a large oil refinery.

Dangote Fertilizer is expected to start operations in the second quarter this year.

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Source: Legit.ng News

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