The 10 richest women in Africa and how they built their fortunes
The richest women in Africa are transforming the continent's economy. Figures such as Folorunsho Alakija, Ngina “Mama Ngina” Kenyatta, and Hajia Bola Shagaya demonstrate how smart investments, entrepreneurial vision, and legacy creation have earned them a place among Africa's wealthiest.
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TABLE OF CONTENTS
- Key takeaways
- The 10 richest women in Africa: How they built their empires
- 10. Wendy Appelbaum — $260 million
- 9. Mo Abudu — $600 million
- 8. Precious Moloi-Motsepe — $800 million
- 7. Divine Ndhlukula — $809 million
- 6. Fifi Ekanem Ejindu — $850 million
- 5. Dr. Stella Okoli — $850 million
- 4. Daisy Danjuma — $900 million
- 3. Hajia Bola Shagaya — $950 million
- 2. Ngina "Mama Ngina" Kenyatta — $1 billion
- 1. Folorunso Alakija — $1 billion
- What happened to the richest woman in Africa?
Key takeaways
- Folorunsho Alakija is one of Africa's wealthiest women, with an estimated net worth of $1 billion.
- Isabel dos Santos was once named Africa’s richest woman by Forbes, with an estimated net worth of over $2 billion, but was delisted in 2021 following asset freezes, sanctions, and legal disputes.
- South Africa's Precious Moloi-Motsepe has built her wealth through fashion and investments in healthcare.
The 10 richest women in Africa: How they built their empires
In compiling the list of Africa's richest women, we used recorded net worth estimates, noting that these values may change over time due to new business developments or market fluctuations. The figures mentioned are based on publicly available information and reports from reputable sources, including Forbes and Business Daily Africa.
Name | Net worth |
Folorunsho Alakija | $1 billion |
Ngina “Mama Ngina” Kenyatta | $1 billion |
Hajia Bola Shagaya | $950 million |
Daisy Danjuma | $900 million |
Stella Okoli | $850 million |
Fifi Ekanem Ejindu | $850 million |
Divine Ndhlukula | $809million |
Precious Moloi-Motsepe | $800 million |
Mo Abudu | $600 million |
Wendy Appelbaum | $260 million |
10. Wendy Appelbaum — $260 million
Source: Getty Images
- Full name: Wendy Donna Appelbaum
- Date of birth: 1961
- Age: 64 years (as of 2025)
- Place of birth: South Africa
- Source of wealth: Businesswoman, philanthropist
Wendy Appelbaum, one of Africa’s wealthiest women, is a South African businesswoman and philanthropist. The sole daughter of Sir Donald Gordon, founder of the Liberty Group, she began her professional career in the family business as a director at Liberty Investors.
In 1994, Wendy co-founded Women’s Investment Portfolio Holdings (Wiphold) with a group of women. Nearly a decade later, in 2003, she and her husband acquired the De Morgenzon Wine Estate in Stellenbosch, marking her entry into the agribusiness and winemaking sector. In 2015, Wendy won the Forbes Africa Woman of the Year.
9. Mo Abudu — $600 million
Source: Getty Images
- Full name: Mosunmola "Mo" Abudulisten
- Date of birth: 11 September 1964
- Age: 61 years (as of 2025)
- Place of birth: London, United Kingdom
- Profession: Entrepreneur, philanthropist
Mo Abudu is a Nigerian media mogul, entrepreneur, and philanthropist. She began her career in 1987 as a recruitment consultant in the UK before returning to Nigeria to head HR and Administration at ExxonMobil. In 2000, she founded Vic Lawrence & Associates, an HR firm, and later expanded into the hospitality and media sectors.
In 2013, Mo founded EbonyLife TV, Africa's first global Black entertainment and lifestyle network, producing hit series such as Fifty, Castle & Castle, and Sons of the Caliphate. She also launched EbonyLife Films, producing blockbuster movies including The Wedding Party and Chief Daddy.
8. Precious Moloi-Motsepe — $800 million
Source: Getty Images
- Full name: Precious Moloi-Motsepe
- Date of birth: 2 August 1962
- Age: 63 years (as of 2025)
- Place of birth: Soweto, South Africa
- Profession: Entrepreneur, philanthropist
Precious is a South African entrepreneur and philanthropist who began her career at the University of the Witwatersrand (Wits). Precious is the CEO and founder of Africa Fashion International (AFI).
In 1999, the entrepreneur and her husband, Dr. Patrice Motsepe, established the Motsepe Foundation. In 2013, they became the first African couple to join The Giving Pledge.
7. Divine Ndhlukula — $809 million
Source: Facebook
- Full name: Divine Simbi Ndhlukula
- Date of birth: 5 February 1960
- Age: 65 years (as of 2025)
- Place of birth: Gutu, Zimbabwe
- Profession: Entrepreneur, speaker, author, philanthropist
Divine Ndhlukula is a Zimbabwean entrepreneur, speaker, author, and philanthropist. She is the founder and managing director of SECURICO, one of the country's leading security firms. Divine also founded Zvikomborero Farms, renowned for its extensive goat-rearing operations.
The motivational speaker has earned several awards, including Forbes Africa Businesswoman of the Year (2019) and the Grand Prize at Africa Wards for Entrepreneurship.
6. Fifi Ekanem Ejindu — $850 million
Source: Facebook
- Full name: Offiong Ekanem Ejindu
- Date of birth: 1962
- Age: 63 years (as of 2025)
- Place of birth: Ibadan, Nigeria
- Profession: Architect, businesswoman, philanthropist
Fifi is a Nigerian businesswoman, architect, and philanthropist. She is the great-granddaughter of King James Ekpo Bassey of Cobham Town, Calabar, Nigeria.
In 1995, Fifi founded the Starcrest Group of Companies. The enterprise comprises Starcrest Investment Ltd, Starcrest Associates Ltd, and Starcrest Industries Ltd with operations across real estate, oil and gas, and construction. In 2015, the architect won the Nigerian Golden Book Professional Icon Award.
5. Dr. Stella Okoli — $850 million
Source: Facebook
- Full name: Stella Chinyelu Okoli
- Date of birth: 1944
- Age: 81 years (as of 2025)
- Place of birth: Kano, Nigeria
- Profession: Pharmacist, philanthropist, entrepreneur
Dr. Stella Okoli is a Nigerian philanthropist, pharmacist, and entrepreneur with over 27 years of experience in pharmacy practice and pharmaceutical manufacturing. She has worked with several pharmaceutical companies, including Middlesex Hospital in London, Boots the Chemists Limited, and Pharma-Dexo.
In 1977, Stella founded Emzor Pharmaceutical Manufacturing Company, where she continues to serve as CEO. In 2006, she established the Chike Okoli Foundation.
4. Daisy Danjuma — $900 million
Source: Instagram
- Full name: Daisy Ehanire Danjuma
- Date of birth: 6 August 1952
- Age: 73 years (as of 2025)
- Place of birth: Benin City, Nigeria
- Profession: Politician, businesswoman, corporate leader
Daisy Danjuma is also among the richest women in Africa, with an alleged net worth of $900 million. She is a Nigerian politician, businesswoman, and corporate leader. Daisy was the Senator for Edo South in the Federal Republic of Nigeria from 2003 to 2007.
Daisy held the position of executive vice chairman of South Atlantic Petroleum (SAPETRO) until December 2023, when she was promoted to executive chairman. She also serves as chairperson of several major companies, including May & Baker Nigeria Plc.
3. Hajia Bola Shagaya — $950 million
Source: Instagram
- Full name: Hajia Bola Muinat Shagayalisten
- Date of birth: 10 October 1959
- Age: 66 years (as of 2025)
- Place of birth: Ilorin, Nigeria
- Profession: Businesswoman, fashion enthusiast
Hajia Bola Shagaya is a Nigerian businesswoman and fashion enthusiast. She began her career in the audit department of the Central Bank of Nigeria before venturing into commercial enterprises in 1983. The businesswoman's net worth is reportedly $950 million.
Hajia serves as the CEO of Bolmus Group International, overseeing investments in oil, real estate, banking, and photography. In 2005, she founded Practoil Limited and became its managing director. Under her leadership, Practoil has grown into one of Nigeria's leading importers and distributors of base oil.
2. Ngina "Mama Ngina" Kenyatta — $1 billion
- Full name: Ngina Kenyatta
- Date of birth: 24 June 1933
- Age: 92 years (as of 2025)
- Place of birth: Kiambu, Kenya
- Profession: Businesswoman
Ngina Kenyatta, widely known as Mama Ngina, is Kenya's former first lady. She is the widow of the nation's founding president, Jomo Kenyatta, and the mother of former president Uhuru Kenyatta.
Ngina is among the wealthiest women in Africa, with her net worth estimated to be $1 billion. She has amassed her wealth through long-term family investments in banking, hospitality, media, agriculture, and real estate.
1. Folorunso Alakija — $1 billion
Source: Getty Images
- Full name: Folorunso Alakija
- Date of birth: 15 July 1951
- Age: 74 years (as of 2025)
- Place of birth: Ikorodu, Lagos State, Nigeria
- Profession: Businesswoman, author, philanthropist, former fashion designer
Folorunso Alakija is one of the richest women in Africa. She is a Nigerian businesswoman, author, philanthropist, and former fashion designer. She has served as the executive vice chairman of Famfa Limited since September 1991. In May 2008, Folorunsho Alakija founded the Rose of Sharon Foundation to improve the lives of widows and orphans in the community.
Alakija has written several books, including The Cry of Widows and Orphans, The Master Key, and University of Marriage. According to Forbes and Celebrity Net Worth, the entrepreneur's net worth is reportedly $1 billion.
What happened to the richest woman in Africa?
Isabel dos Santos, once Africa’s richest woman with a net worth exceeding $2 billion, has experienced a dramatic decline in her wealth due to legal and financial challenges.
Authorities in Angola, Portugal, and the UK froze much of her assets amid investigations into corruption and embezzlement, while the British government imposed sanctions. As a result, Forbes removed her from its list of billionaires in 2021.
The richest women in Africa have actively created wealth through entrepreneurship and strategic investments, often turning opportunities into multi-million- or billion-dollar ventures. They lead in diverse sectors, including oil, finance, telecoms, and real estate, setting new standards for business success and female leadership on the continent.
Legit.ng recently published an article about the richest women in the world. The wealthiest women in the world have built their fortunes through a mix of investments, inheritance, and innovative ventures. They are leaders across various industries, including beauty, retail, steel, sports, and philanthropy.
Alice Walton, daughter of Walmart founder Sam Walton, holds the title of the world's wealthiest woman. Other wealthiest women in the world include Jacqueline Mars, Abigail Johnson, and Françoise Bettencourt Meyers & family.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
