Billionaire African Women: 5 Who are Giving Men a Run for their Money
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Billionaires - April 5, 2023

Billionaire African Women: 5 Who are Giving Men a Run for their Money

African women today have embraced independence, shoving away the restrictions earlier associated with women in Africa, thanks to the influx of better educational levels.

These women who are found in different professional fields, sectors, and industries are questioning Africa’s status quo, leaving footmarks in their various fields while showing that gender is not a barrier to achieving success in business and entrepreneurship.

This article highlights some of Africa’s billionaire women who have given men a run for their money and their net worth.

Folorunsho Alakija – Nigeria

The Nigerian billionaire who is one of the women to look out for in Africa started out first in the fashion industry before diversifying into real estate, oil and gas, and printing business. 

Folorunsho Alakija is the Group Managing Director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited, a family owned oil and gas production firm.

Alakija was listed as the second most powerful woman in Africa and the 87th most powerful woman in the world by Forbes. Her net worth is currently estimated at $1 billion.

Wendy Appelbaum – South Africa

With a net worth of $168 million, Wendy Appealbaum is considered one of the richest women in Africa. 

Wendy who has served at several companies including Victory Strategic Services, Sphere Holdings Limited, and WESGRO (Western Cape Tourism, Trade & Investments) is the daughter of the late Donald Gordon, a South African billionaire and founder of Liberty Group. She is also the director and the largest individual shareholder of the company.

She is the Chairperson and owner of De Morgenzon Wine Estate in Stellenbosch. In 2015, Forbes Magazine named her as the Forbes Woman Businesswoman of the Year and the Forbes Africa Woman of the Year, amongst other several recognitions that has helped her flex her muscles in the continent.

Ngina Kenyatta – Kenya

One of Africa’s billionaires and entrepreneurs is Ngina Kenyatta. She is the first first-lady in the Republic of Kenya with several real estate land all over Kenya which she inherited from her husband.

The former first lady also owned other businesses in imports and exports, as well as investments in the banking and hospitality sectors.

In 2013, she was listed among 55 Africa’s dollar billionaires. Her net worth was an estimated e $1 billion dollars in 2020.

Lamia Tazi

Lamia Tazi is the Chairwoman and Chief Executive Officer of  Shares in Marocaine Ste de Therapeutique (Sothema), one of the top pharmaceutical companies in the Middle East and Africa.

She joined Sothema in 1997 and became the CEO and chairwoman in 2019, where she now oversees over 1,000 people. Under her leadership, Sosthema now produces over 60 million pharmaceutical products annually.

Lamia Tazi owns a sizable portion of the business which has significantly increased the value of her shares as well as those of other investors, generating returns in the millions of dollars which has made her one of the richest women in Africa.

Tazi is also chairwoman of the Omar TAZI Foundation with a networth of $117 million.

Hajia Bola Shagaya – Nigeria

One of the richest billionaire women in Africa who is currently a voice to be reckoned with is Hajia Bola Muinat Shagaya. 

Shagaya is a Nigerian businesswoman and the founder and CEO of Bolmus Group International, a multinational Nigerian corporation with holdings in real estate, oil and gas, banking, finance, communications, and photography.

Due to her experience in the banking and finance sector, She became a  co-chair of Unity Bank PLC and also sits on the board of the National Economic Partnership for Africa’s Development, NEPAD, a commercial organization centred in Nigeria

Shagaya is currently estimated with a net worth of $959 million with assets in real estate, banking, and finance, as well as oil and gas.

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