Nigerian billionaire entrepreneur Folorunso Alakija has been named the second richest woman in Africa in the latest ranking released by Forbes, further cementing her status as one of the continent’s most influential business leaders.
TRUETELLS Nigeria reports that Alakija, with an estimated net worth of over $1 billion, has consistently remained the richest woman in Nigeria for several years. Her wealth is primarily driven by her significant investments in the oil and gas industry, as well as interests in fashion printing and real estate.
She is the founder and managing director of Rose of Sharon Group, a company with diversified investments across multiple sectors.
Topping the list is Angolan business magnate Isabel dos Santos, whose fortune is estimated at $2.2 billion. Nigerian entrepreneur Bola Shagaya ranks third with an estimated net worth of $630 million.
The ranking highlights the growing economic influence of women across Africa, particularly in key sectors such as energy, finance, and manufacturing. South Africa recorded the highest representation on the list, with six women making the cut.
Forbes noted that the ranking focuses on women with a minimum net worth of $10 million, recognising individuals who have not only built significant wealth but also contributed meaningfully to economic growth and development.
Born on July 15, 1951, in Ikorodu, Lagos State, Alakija has built a strong reputation through decades of strategic investments and entrepreneurial success. Her transition from the fashion industry into Nigeria’s oil and gas sector reflects resilience, innovation, and business acumen.
Beyond business, she is also known for her philanthropic efforts, supporting initiatives in education, healthcare, and community development.
Her continued presence among Africa’s richest women underscores her lasting influence and the expanding role of female entrepreneurs in shaping the continent’s economic future.
