Africa’s business landscape is witnessing a remarkable rise of influential and enterprising women who have not only achieved immense wealth but also become catalysts for change and empowerment. Among these extraordinary individuals stands Folorunsho Alakija, a true trailblazer from Nigeria. From modest beginnings, Alakija’s journey to becoming one of Africa’s wealthiest women is a testament to her resilience and unwavering pursuit of success. With her investments in oil, fashion, and real estate, she has inspired countless entrepreneurs across the continent.
Alakija is joined by a host of other remarkable women making their mark on Africa’s business scene. These exceptional women symbolize the diversity, resilience, and entrepreneurial spirit that thrive within the African business landscape. Their stories offer a glimpse into the transformative power of wealth creation, paving the way for economic progress, gender equality, and social change. This article will highlight some of these women, let’s dive in.
Nginna Kenyatta
Ngina Kenyatta, affectionately known as Mama Ngina, holds a prominent position among Africa’s super-rich women. As the mother of Kenya’s current President, Uhuru Kenyatta, she has not only witnessed the country’s growth but has actively contributed to its economic development. Approaching her ninth decade, Ngina Kenyatta has built an impressive portfolio spanning investments, banking, media, and the dairy industry.
Often referred to as “Mama Kenyatta,” she has a significant stake of 24.91% in the Commercial Bank of Africa (CBA), solidifying her influence in the financial sector. Moreover, she has diversified her holdings by acquiring shares in Media Max, a prominent media company that owns K24 TV, Kameme Radio, and The People newspaper. Ngina Kenyatta’s entrepreneurial ventures and strategic investments have propelled her to billionaire status. She has a net worth of $1.5 billion.
Divine Simbi Ndhlukula
Dr. Divine Simbi Ndhlukula, a Zimbabwean businesswoman, has achieved extraordinary success in West Africa’s security industry. Her company, Securico, stands as one of Zimbabwe’s largest security companies, with over 4,000 employees and the distinction of being the country’s first ISO-certified security outfit. Dr. Ndhlukula’s journey from a small team of four to this remarkable position inspires aspiring entrepreneurs, particularly women, to excel in male-dominated sectors and make a positive impact. Her outstanding leadership led to her inclusion in the top 10 CEOs in Africa in 2018, solidifying her recognition for remarkable contributions and inspiring individuals worldwide.
Hajia Bola Shagaya
Hajia Bola Shagaya, a renowned Nigerian businesswoman, is a shining example of entrepreneurial prowess and resilience. Beginning her career as an auditor for the Central Bank of Nigeria, Shagaya’s entrepreneurial spirit led her to establish an empire in the business world. She started her journey by importing and reselling Konica photographic equipment, laying the foundation for her future success.
Today, with a current net worth approaching a billion US dollars, Shagaya serves as the CEO of Bolmus Group International, a conglomerate with diverse interests in oil, real estate, banking, and photography. Her remarkable entrepreneurial journey also includes the founding of Practoil Limited, where she assumed the role of managing director in 2005. Under her leadership, Practoil has become one of Nigeria’s largest importers and distributors of base oil. She has an estimated net worth of $950 Million.
Wendy Appelbaum
Wendy Appelbaum, the richest woman in South Africa and the fourth wealthiest in Africa, is a prominent figure in business and philanthropy. As the owner and Chair of De Morgenzon Wine Estate, she showcases her passion for the wine industry. Appelbaum’s influential roles include serving as Deputy-Chairman of Women’s Investment Portfolio Limited (Wiphold Limited) and holding a directorial position in Sphere Holdings (Pty) Ltd, focusing on financial services in the mining sector.
Her outstanding achievements earned her recognition as Forbes Woman Businesswoman of the Year and Forbes Africa Woman of the Year in 2015. Appelbaum’s success story and dedication to making a positive impact inspire aspiring entrepreneurs across the continent.
Wendy Ackerman
Wendy Ackerman, an FMCG powerhouse, is renowned as one of the founders and an Executive Director of Pick ‘n Pay Stores. Alongside her husband Raymond Ackerman, she has played a pivotal role in building one of South Africa’s leading FMCG retailers. With a vast network of over 450 stores, including 121 supermarkets and 14 hypermarkets, Pick ‘n Pay has become a household name in South Africa, southern Africa, and even Australia.
The company’s operations have created employment opportunities for approximately 49,000 individuals. In recognition of her family’s philanthropic endeavors, Wendy received an Inyathelo Award in 2007, further highlighting her commitment to making a positive social impact.
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