Africa’s top 15 richest women
Key Points
- Africa’s richest women are redefining leadership, building business empires in oil, finance, pharmaceuticals, and tech, while driving growth and innovation.
- From Alakija’s oil fortune to Poku-Diaby’s cocoa empire, these women turn challenges into opportunities, expanding industries and creating wealth.
- These women are not just building wealth—they’re funding scholarships, supporting small businesses, and driving economic inclusion across Africa.
Across Africa’s financial capitals and industrial corridors, a powerful group of businesswomen is rewriting the rules of wealth, influence, and leadership. In industries long dominated by men—oil, finance, pharmaceuticals, and technology—these women have built formidable business empires, creating jobs, driving innovation, and reshaping economies in ways that will be felt for generations.
Their paths to success are as diverse as the continent itself. Some forged their wealth through strategic investments and high-stakes entrepreneurship, while others inherited family fortunes and expanded them with sharp business instincts. What unites them is resilience—the ability to navigate volatile markets, overcome systemic barriers, and turn challenges into opportunities.
Take Nigeria’s Folorunso Alakija, whose ascent from the fashion industry to controlling one of the country’s most valuable oil blocks is a masterclass in foresight and tenacity. In South Africa, Lynette Saltzman transformed a local pharmaceutical business into a healthcare powerhouse, ensuring millions have access to essential medicines. Meanwhile, Patricia Poku-Diaby dominates Ghana’s cocoa industry, a sector central to the country’s economy.
Across the continent, their influence extends beyond balance sheets. Bridgette Radebe has made her mark in South Africa’s mining sector, breaking barriers in an industry notoriously tough for women. Mama Ngina Kenyatta, one of Kenya’s most prominent figures, sits at the intersection of business and politics. In Egypt, Azza El-Sewedy is expanding industrial infrastructure, while Sue Youcef Nabi, an Algerian entrepreneur, is reshaping the global beauty market.
Despite gender disparities, these women have not only built wealth but have also reinvested it—funding scholarships, supporting small businesses, and driving economic inclusion. Their impact reaches far beyond boardrooms, proving that financial success paired with purpose creates lasting change.
Billionaires.Africa presents the Top 20 richest women in Africa, a definitive ranking of the continent’s wealthiest and most influential business leaders. Their stories are more than tales of fortune—they are blueprints for breaking barriers, building legacies, and shaping the future of global business.
- Folorunso Alakija
Nationality: Nigerian
Sector: Oil & Gas, Real Estate, Fashion, Printing
Net Worth: $900 million
With Isabel Dos Santos out of the picture, Nigeria’s Folorunso Alakija now holds the title of Africa’s richest woman and remains one of the world’s wealthiest Black women. Her fortune comes primarily from Famfa Oil, which has a highly valuable stake in Agbami Oilfield—one of Nigeria’s largest deepwater oil projects. But oil isn’t her only business. Through Dayspring Property Development, she owns prime real estate, including Famfa Towers in Ikoyi, Lagos. Her journey to wealth began in the 1980s with Supreme Stitches, later rebranded as Rose of Sharon House of Fashion, which made her a household name in Nigeria’s fashion scene. Beyond business, Alakija is deeply involved in philanthropy. Her Rose of Sharon Foundation has helped thousands of widows and orphans, while Flourish Africa empowers female entrepreneurs across the continent. Forbes last valued her wealth at over $1 billion in 2020. With no recent valuation available, her current net worth is estimated at $900 million, anchored by her oil interests and extensive real estate holdings.
- Lynette Saltzman
Nationality: South African
Sector: Healthcare
Net Worth: $500 million
As co-founder of Dis-Chem Pharmacies, Lynette Saltzman has played a key role in shaping South Africa’s healthcare retail sector. Under her leadership, Dis-Chem has grown into a household name with over 300 stores and more than 20,000 employees. Together with her husband, she holds a 35.12% stake in the company, which continues to generate significant wealth through dividends. Dis-Chem has a market capitalization of R28 billion ($1.52 billion), solidifying the Saltzmans’ financial standing. While the exact ownership split between Lynette and her husband isn’t publicly disclosed, their combined stake translates to an estimated net worth of $500 million for Lynette.
- Zarin Merali
Nationality: Kenyan
Sector: Diversified
Net Worth: $220 million
Zarin Merali oversees the estate of her late husband, Naushad Merali, one of Kenya’s most prominent business moguls. Until his passing in 2021, he was a major player in agriculture, finance, real estate, and manufacturing. The family retains control of several key assets, including a 74.06 percent stake in Sameer Africa, 65.46 percent in Sasini Tea, and 5.2 percent in NCBA Group. They also own Legend Investments Ltd, a firm with significant interests across multiple industries. In 2015, Naushad Merali’s fortune was estimated at $370 million, but with no recent valuation, Zarin Merali’s current net worth is estimated at $220 million, based on the family’s holdings.
- Mama Ngina Kenyatta
Nationality: Kenyan
Sector: Diversified
Net Worth: $210 million
As the matriarch of the Kenyatta family, Mama Ngina Kenyatta presides over one of Kenya’s wealthiest and most influential dynasties. The family’s investments span agriculture, banking, real estate, media, and hospitality, making them a dominant force in East Africa’s business landscape. Their 500,000 acres of land place them among the region’s largest private landowners. Key assets include a 13.2 percent stake in NCBA Group, full control of Brookside Dairy, which commands 60 percent of Kenya’s dairy market, and ownership of Mediamax Network Limited (which runs K24 TV and The People Daily). Their ambitious Northlands City project is set to reshape Nairobi’s urban development. After accounting for liabilities, Billionaires.Africa estimates the Kenyatta family’s wealth at $210 million, with Mama Ngina at the helm
- Sue Youcef Nabi
Nationality: Algerian-French
Sector: Beauty & Cosmetics
Net Worth: $180 million
As CEO of Coty Inc., Sue Youcef Nabi has led the company’s transformation, focusing on premiumization and global expansion—moves that have restored investor confidence. Under her leadership, Coty has solidified its position as the world’s second-largest hair color and styling brand and third-largest in color cosmetics, with revenue reaching $5.55 billion in 2023. Nabi holds a 3.7 percent stake in Coty, equivalent to 31.88 million shares, currently valued at $180 million. Her leadership has been central to Coty’s financial turnaround, reflected in a 4.55 percent increase in assets. In recognition of her impact, she received a $149.43 million compensation package in 2023. Before Coty, she was a top executive at L’Oréal, where she led Lancôme and L’Oréal Paris, driving innovation and championing diversity in the beauty industry. Billionaires.Africa estimates her net worth at $180 million, reflecting her growing influence in the global beauty space.
- Wendy Appelbaum
Nationality: South African
Sector: Finance & Winemaking
Net Worth: $150 million
Wendy Appelbaum is one of South Africa’s most influential investors, with a career spanning finance, real estate, and winemaking. The daughter of billionaire Sir Donald Gordon, she started at Liberty Group, the financial empire her father built, before forging her own path. In 1994, she co-founded Wiphold, South Africa’s first women-led investment firm to list on the JSE, breaking new ground for female economic empowerment. Today, Appelbaum is a powerhouse in the wine industry, owning the 224-acre Demorgenzon Wine Estate, known for its award-winning Chenin Blanc. The estate exports 85 percent of its 500,000-bottle annual output to global markets. Despite her privileged background, she credits her success to strategic foresight and relentless work ethic. Whether in finance, wine, or philanthropy, she remains committed to driving economic inclusion and building long-term value.
- Patricia Poku Diaby
Nationality: Ghanaian
Sector: Cocoa & Commodities
Net Worth: $115 million
As Ghana’s wealthiest woman, Patricia Poku Diaby has built a cocoa empire that cements her status as one of Africa’s most successful entrepreneurs. At the helm of Plot Enterprise Group, she has positioned her company as a key player in cocoa processing and commodities trading. Her state-of-the-art facilities in Takoradi, Ghana, and Abidjan, Côte d’Ivoire, have a combined annual processing capacity of 48,000 metric tonnes. Poku Diaby’s company competes with multinational giants in a sector traditionally dominated by European firms. She has leveraged technology, sustainability, and farmer empowerment to transform the cocoa supply chain, ensuring that more of Ghana and Côte d’Ivoire’s cocoa wealth stays within the continent. She remains the only African woman to have built a large-scale cocoa processing facility, breaking barriers in an industry long dominated by men. Beyond business, she is a strong advocate for ethical trade, fair pricing, and better working conditions for farmers. She also mentors young entrepreneurs, especially women, and supports initiatives that drive economic growth. Billionaires.Africa estimates her net worth at $115 million, a reflection of her dominance in Africa’s industrial sector and her influence in global cocoa markets.
- Hajia Bola Shagaya
Nationality: Nigerian
Sector: Oil & Gas, Real Estate, Finance, Photography
Net Worth: $110 million
Hajia Bola Shagaya is one of Nigeria’s most formidable entrepreneurs, with a business empire spanning oil and gas, real estate, finance, and photography. Born in Kwara State in 1959, she started her career in banking, working in the audit department of the Central Bank of Nigeria before making the leap into business in 1983. Her first major breakthrough came in photography, where she became the sole distributor of Konica products in West Africa. She later founded Fotofair (Nigeria) Limited, a market leader in professional photography services. Her strategic expansion into oil and gas solidified her influence—she founded Practoil Limited, one of Nigeria’s largest importers of base oil, and later established Voyage Oil and Gas Limited, securing an oil exploration license in 2012. Her investments also extend into luxury real estate across Nigeria, Europe, and the U.S. She serves on the board of NEPAD, where she plays a key role in shaping Nigeria’s economic policies. Known for her resilience and sharp business acumen, Shagaya remains one of Africa’s most powerful businesswomen.
- Azza El-Sewedy
Nationality: Egyptian
Sector: Manufacturing
Net Worth: $110 million
Azza El-Sewedy, one of Egypt’s most influential women investors, has seen her fortune grow significantly in 2025, thanks to her stake in Elsewedy Electric. As the sister of the billionaire El-Sewedy brothers, she holds a 3.03 percent stake in the company, equivalent to 64.92 million shares, valued at $109 million. Elsewedy Electric, founded in 1938, remains a powerhouse on the Egyptian Exchange (EGX), with a market capitalization of $3.6 billion. Azza’s expanding stake not only strengthens her position in Egypt’s energy and cable industries but also reflects the company’s strong market performance. Billionaires.Africa estimates her fortune at $110 million, further cementing her status as one of the country’s most powerful female investors.
- Mary-Ann Musangi
Nationality: Kenyan
Sector: Diversified
Net worth: $100 million
Mary-Ann Musangi leads the Kirubi family estate, overseeing major stakes in Centum Investment Plc, KCB Group, Haco Industries, and Capital Media Group. Following the passing of her father, business mogul Chris Kirubi, in 2021, she and her brother Robert Kirubi inherited much of his $140 million fortune. The estate includes investments across real estate, insurance, and healthcare, with Mary-Ann playing a pivotal role in managing and expanding its portfolio. Billionaires.Africa estimates the Kirubi family’s wealth at $100 million, with her at the helm of key business decisions shaping the future of their empire.
- Lamia Tazi
Nationality: Moroccan
Sector: Healthcare
Net Worth: $100 million
Lamia Tazi leads Morocco’s pharmaceutical industry as the CEO and Chairperson of Sothema, the country’s largest drug manufacturer. Under her leadership, the company produces 60 million pharmaceutical units annually and operates 35 global laboratories. Tazi owns an 8.19% stake in Sothema, valued at $65 million. In 2023, she spearheaded the launch of the first Galenic development and clinical studies platform in Africa and the Middle East, reinforcing her commitment to pharmaceutical innovation. Beyond Sothema, she oversees several companies, including Advanced Scientific Developments, West Afric Pharma, Azerys, Axess Pharma, and Leiden Pharma. Her influence in the industry earned her a spot at No. 33 on Forbes’ 2025 100 Most Powerful Women list.
- Stella Okoli
Nationality: Nigerian
Sector: Healthcare
Net Worth: $80 million
Stella Okoli is the force behind Emzor Pharmaceuticals, one of Africa’s leading manufacturers and distributors of medicines and medical supplies. The company produces over 140 pharmaceutical products, including pain relievers, vitamins, antibiotics, antimalarials, and cardiovascular drugs. Over the years, Emzor has grown into a multimillion-dollar enterprise, making Okoli a key figure in Africa’s pharmaceutical sector. Her leadership and vision continue to drive the company’s expansion, ensuring a steady supply of affordable healthcare products across the continent.
- Bridgette Radebe
Nationality: South African
Sector: Mining
Net Worth: $60 million
Bridgette Radebe made history as South Africa’s first Black female mining entrepreneur, building Mmakau Mining into a major player in gold, platinum, and chrome extraction. Her expertise also played a crucial role in the growth of African Rainbow Minerals, founded by her brother, billionaire Patrice Motsepe. Beyond mining, she has held leadership positions in African Rainbow Capital Investments, Shaft Sinkers, and Sappi Limited. Through the New Africa Mining Fund, she actively supports Black-owned and junior mining companies, helping shape the future of Africa’s mining sector.
- Sharon Wapnick
Nationality: South African
Sector: Real Estate
Net Worth: $50 million
Sharon Wapnick is a prominent figure in South Africa’s real estate and legal industries. As the chairperson of Octodec Investments, she has helped shape the company’s success while maintaining her legal practice at TWB—Tugendhaft Wapnick Banchetti and Partners. The daughter of Alec Wapnick, she took the helm of Octodec in 2011 and played a pivotal role in its 2014 merger with Premium Properties, creating a real estate powerhouse managing 267 properties worth R11.3 billion. Alongside her brother Jeffrey, she has reinforced Octodec’s dominance in Johannesburg and Tshwane. Beyond business, Wapnick is a vocal advocate for gender equality, once remarking, “The best man for the job is usually a woman.” Her leadership continues to shape South Africa’s property sector while reinforcing her influence in corporate law.
Crédito: Link de origem