At a Glance
- Folorunso Alakija tops the list with a billion-dollar fortune from oil and real estate.
- Sue Nabi and Azza El-Sewedy drive global growth in beauty, energy, and manufacturing sectors.
- These women champion ethical trade, education, and inclusive investment across diverse African industries.
Across Africa’s economic hubs, a rising generation of businesswomen is redefining wealth and leadership. In fields once dominated by men—oil, finance, manufacturing, and technology—they have built empires that generate jobs, spark innovation, and transform economies.
Their paths are as diverse as the continent itself. Some inherited fortunes and grew them strategically. Others started from scratch, navigating volatile markets and systemic barriers with resilience and vision.
Nigeria’s Folorunso Alakija, with a net worth of $1 billion, rose from fashion entrepreneur to controlling a prized oil block. Ghana’s Patricia Poku Diaby commands a cocoa empire critical to her nation’s economy.
Beyond profit, their influence fuels social change. Mama Ngina Kenyatta merges business and politics in Kenya. Algerian entrepreneur Sue Youcef Nabi is reshaping the global beauty market, while Egypt’s Azza El-Sewedy expands industrial infrastructure.
Despite persistent gender gaps, these women channel their wealth into scholarships, small-business funding, and broader economic inclusion. Their impact stretches well beyond boardrooms, proving that success paired with purpose drives lasting progress.
Shore Africa has chronicled these powerful women with more than $100 million net worth—trailblazers building legacies and shaping tomorrow’s business landscape.
1. Folorunso Alakija
Nationality: Nigerian
Sector: Oil & Gas, Real Estate, Fashion, Printing
Net Worth: $1 billion
Nigeria’s Folorunso Alakija is Africa’s richest woman, with wealth mainly from Famfa Oil’s stake in Agbami Oilfield. She also owns Dayspring Property and Famfa Towers. Her business journey began in fashion with Rose of Sharon House of Fashion. Alakija is an active philanthropist through her Rose of Sharon Foundation and Flourish Africa. Forbes valued her net worth at $1 billion.
2. Zarin Merali
Nationality: Kenyan
Sector: Diversified
Net Worth: $200 million
Zarin Merali manages her late husband Naushad Merali’s diverse Kenyan business empire. The family controls stakes in Sameer Africa, Sasini Tea, and NCBA Group. They also own Legend Investments, spanning agriculture, finance, and real estate. Naushad’s fortune was once estimated at $370 million; today, Zarin’s net worth is around $200 million. She continues overseeing the family’s holdings, maintaining their influence across Kenya’s corporate landscape and protecting the Merali legacy built over decades.
3. Mama Ngina Kenyatta
Nationality: Kenyan
Sector: Diversified
Net Worth: $200 million
Mama Ngina Kenyatta leads Kenya’s influential Kenyatta dynasty. The family owns 500,000 acres, a 13.2percent NCBA stake, Brookside Dairy, and Mediamax Network. Their Northlands City project is reshaping Nairobi’s skyline. With investments in agriculture, banking, and media, they remain one of East Africa’s most powerful business groups. Billionaires.Africa values the family’s fortune at $210 million, with Mama Ngina at the helm, guiding strategy and preserving the Kenyatta legacy across generations.
4. Sue Youcef Nabi
Nationality: Algerian-French
Sector: Beauty & Cosmetics
Net Worth: $139.4 million
Algerian-French executive Sue Nabi, CEO of Coty Inc., has led its turnaround with premiumization and expansion. Under her leadership, Coty’s 2023 revenue hit $5.55 billion. Nabi owns 3.7 percent of Coty shares worth $139 million. Her tenure saw rising profits and a $149 million compensation package. Before Coty, she led Lancôme and L’Oréal Paris, driving innovation and inclusivity. Forbes estimates her net worth at $180 million, cementing her influence in the global beauty industry.
5. Wendy Appelbaum
Nationality: South African
Sector: Finance & Winemaking
Net Worth: $150 million
South Africa’s Wendy Appelbaum, daughter of Sir Donald Gordon, co-founded Wiphold, the JSE’s first women-led investment firm. She owns Demorgenzon Wine Estate, renowned for award-winning Chenin Blanc exported worldwide. Her career spans finance, real estate, and winemaking. Despite her privileged upbringing, Appelbaum attributes her success to strategic foresight and relentless work. With a net worth of $150 million, she remains dedicated to economic inclusion and empowering women entrepreneurs across South Africa.
6. Patricia Poku Diaby
Nationality: Ghanaian
Sector: Cocoa & Commodities
Net Worth: $100 million
Patricia Poku Diaby, Ghana’s wealthiest woman, runs Plot Enterprise Group, a major cocoa processor with facilities in Ghana and Côte d’Ivoire. Processing 48,000 metric tonnes annually, her company rivals multinational giants. She champions ethical trade and farmer empowerment. As the only African woman with a large-scale cocoa factory, she’s reshaping the industry. Beyond business, Poku Diaby mentors young entrepreneurs and advocates for fair pricing. Her estimated net worth stands at $100 million.
7. Hajia Bola Shagaya
Nationality: Nigerian
Sector: Oil & Gas, Real Estate, Finance, Photography
Net Worth: $100 million
Hajia Bola Shagaya built a diverse empire in oil, real estate, finance, and photography. Starting in banking, she became Konica’s West Africa distributor and founded Fotofair Nigeria. Her ventures include Practoil Limited, a leading base oil importer, and Voyage Oil, which secured an exploration license. Shagaya also invests in luxury properties across continents. With a seat on NEPAD’s board, she influences Nigeria’s economic policies. Her estimated net worth is $100 million.
8. Azza El-Sewedy
Nationality: Egyptian
Sector: Energy & Manufacturing
Net Worth: EGP4.96 billion ($100.55 million)
Azza El-Sewedy, sister to Egypt’s billionaire El-Sewedy brothers, owns 3.03 percent of Elsewedy Electric, worth $109 million. Founded in 1938, the firm leads Egypt’s energy sector with a $3.6 billion market cap. Azza’s growing stake highlights her rising influence in manufacturing and infrastructure. As Elsewedy Electric thrives on the Egyptian Exchange, her fortune continues to grow. Billionaires.Africa values her wealth at $109 million, solidifying her status among Egypt’s most powerful businesswomen.
9. Mary-Ann Musangi
Nationality: Kenyan
Sector: Diversified
Net worth: Ksh13.06 billion ($101 million)
Mary-Ann Musangi oversees the Kirubi family estate, managing stakes in Centum Investment, KCB Group, Haco Industries, and Capital Media. After her father Chris Kirubi’s death in 2021, she inherited a fortune estimated at $100 million. She steers the family’s investments in real estate, insurance, and healthcare. With her brother Robert, she continues shaping the Kirubi legacy, driving growth across sectors and maintaining their status as one of Kenya’s wealthiest families.
10. Elisabeth Bradley
Nationality: South African
Sector: Investments & Automotive
Net Worth: $100 million
Elisabeth Bradley made her fortune by selling Toyota South Africa to Toyota Motor Corporation Japan for $320 million, netting $100 million personally. As Albert Wessels’ daughter, she led Wesco Investments, expanding into auto and finance sectors. Her portfolio includes Standard Bank, AngloGold, Hilton Hotel, and Sasol. Forbes estimates her net worth at $100 million. Bradley is celebrated for strategic investments that cemented her legacy as one of South Africa’s top investors.
