FOLORUNSO ALAKIJA EMERGES AS AFRICA’S SECOND RICHEST WOMAN IN FORBES RANKING

March 20, 2026 • Dons Eze • 2 min read

Nigerian billionaire entrepreneur Folorunso Alakija has been ranked the second richest woman in Africa in the latest list released by Forbes, reaffirming her position as one of the continent’s most powerful business figures.

With an estimated net worth exceeding $1 billion, Alakija has maintained her status as the richest woman in Nigeria for several years. Her wealth stems largely from her investments in the oil and gas sector, alongside ventures in fashion printing and real estate.

She is the founder and managing director of Rose of Sharon Group, a diversified conglomerate with interests spanning multiple key industries.

Leading the ranking is Angolan business magnate Isabel dos Santos, whose fortune is estimated at $2.2 billion. Nigerian entrepreneur Bola Shagaya occupies the third position with an estimated net worth of $630 million.

The ranking underscores the rising economic influence of women across Africa, particularly in sectors such as energy, finance, and manufacturing. Notably, South Africa recorded the highest number of entries, with six women featured on the list, highlighting its strong presence in the continent’s business landscape.

According to Forbes, the list focuses on women with a minimum net worth of $10 million, celebrating those who have not only built significant wealth but also contributed meaningfully to economic development in their respective countries.

Born on July 15, 1951, in Ikorodu, Lagos State, Alakija has built a formidable reputation through decades of strategic investments and entrepreneurship. Her journey from the fashion industry to becoming a key player in Nigeria’s oil and gas sector reflects resilience, innovation, and sharp business acumen.

Beyond her business success, she is also widely recognized for her philanthropic work, supporting initiatives in education, healthcare, and community development.

Alakija’s continued presence among Africa’s wealthiest women highlights her enduring influence and the growing role of female entrepreneurs in shaping the continent’s economic future.

Dons Eze

DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.