Mfonobong Nsehe of Forbes Magazine recently authored a piece on ten young African millionaires (USD) to watch. The piece includes Bola Shagaya of Nigeria, Isabel Dos Santos of Angola and Pamela Golding of South Africa among others. Check out their profiles below. Are you inspired? Let us know what you think! You can also check out a recent list of ten young African millionaires to watch also by Mfonobong Nsehe on Forbes.
What do you think of this list of ten African female millionaires to watch by Forbes?
Wendy Appelbaum, South Africa
Wendy Appelbaum is the only daughter of South African tycoon Donald Gordon. She previously served as a director at Liberty Investors, an insurance and real estate firm her father founded, and was one of the company’s largest individual shareholders. She went on to sell her shares and became cash rich. Along with her husband, she purchasedDeMorgenzon, a wine estate in Stellenbosch. She was also a co-founder and Deputy Chairman of Women’s Investment Portfolio Limited (Wiphold), an investment company entirely controlled by women. Wiphold has over $150 million in assets. Appelbaum is also one of Africa’s most active philanthropists and has donated over $23 million to fund the creation of the Gordon Institute of Business Science and the Donald Gordon Medical Centre. She is the chair of the South African Women’s Professional Golfers’ Association.
Mama Ngina Kenyatta, Kenya
Source: Land, Banking, Media
Mama Ngina Kenyatta is a widow of Kenya’s first president, Mzee Jomo Kenyatta. New findings reveal that she ( not her son, Uhuru Kenyatta) controls some of the largest privately-held land holdings in the country. Between the 1960s and the 1970s when he was president, Jomo Kenyatta acquired huge chunks of land at dirt cheap prices when the British colonial government and the World Bank funded a settlement transfer fund scheme which enabled government officials and privileged Kenyans to purchase land from the British. Mama Ngina controls some 500,000 acres of Kenyan land. Average price: $1,000 per acre. Mama Ngina’s son is Uhuru Kenyatta, Kenya’s current Deputy Prime minister and a possible presidential candidate during next year’s general elections. Mama Ngina and her family also own Brookside Dairies, Kenya’s largest dairy company, and stakes in Kenyan Television station K24, a Timber production company and Commercial Bank of Africa.
Hajia Bola Shagaya, Nigeria
Source: Oil, Banking, Real Estate, Photography
One of Nigeria’s wealthiest businesswomen, Shagaya is the founder and CEO of Bolmus Group International- a diversified Nigerian conglomerate with interests in oil, real estate, banking, communications and photography. The real estate development arm of her group builds and owns dozens of luxurious residential properties in some of Nigeria’s priciest neighborhoods for which clients pay as much as $180,000 per annum apiece as rent. She also serves on the board and has a significant minority stake in Unity Bank, a Nigerian commercial bank. Shagaya, who has over the years perfected the subtle art of acclimatizing herself to key military and political figures in Nigeria, is reputedly very close to Nigeria’s first lady, Dame Patience Jonathan, and former Nigerian military president, Ibrahim Babangida.
Isabel Dos Santos, Angola
Isabel, a daughter of Angola’s president, Jose Eduardo dos Santos, is one of the continent’s wealthiest women. At the age of 24, she leveraged her father’s position to corner lucrative state contracts such as the exclusive rights to cleaning and disinfecting Luanda and other cities. She earned her first millions from such contracts, then went on to establish herself as a savvy investor by gobbling up stakes in blue chips such as Portuguese media giant Zon Multimedia (she acquired a 10% stake in 2009 for $180 million). She increased her shareholding this year, snatching up another 5% of the company to become the media company’s largest individual shareholder. Dos Santos, 39, also owns a 19.5% stakein Portuguese bank Banco Português de Investimento.
Folorunsho Alakija , Nigeria
The 61 year-old Nigerian businesswoman is a co-founder and director ofFamfa Oil, a Nigerian oil exploration company which owns a 50% stake in Oil Mining License (OML) 127, one of Nigeria’s most prolific oil blocs. Daily production of OML 127 currently stands at about 35,000 barrels, but it could potentially churn out as much as 200,000 bpd in the near future. Dedicated philanthropist: Alakija founded and funds the Rose Of Sharon Foundation, a Christian charity which provides support to widows and orphans across Nigeria.
Bridgette Radebe, South Africa
An elder sister to South African billionaire Patrice Motsepe, Radebe is the founder of Mmakau mining, a Johannesburg-based junior mining firm with key mining assets in coal, gold, uranium and platinum. She got a start in the early 90s managing shafts, producing and procuring for larger mining firms in South Africa. She is president of the South African Mining Development Association and is a co-founder of New Africa Mining Fund, a private equity firm committed to making investments in mining firms across sub-Saharan Africa. She is married to South Africa’s Justice Minister, Jeff Radebe.
Sharon Wapnick, South Africa
Her father, fabled businessman Alec Wapnick, founded Octodec Investmentsand Premium Properties, two property loan stock companies listed on the Johannesburg Securities Exchange. Sharon is one of the top 5 largest shareholders in each of these companies, and her shares are believed to beworth over $40 million. In October 2011, Wapnick became the non-executive chairman of Octodec, taking over from her father. She is also a partner at TWB Attorneys, a prominent commercial law firm based in Johannesburg.
Irene Charnley, South Africa
The one-time trade unionist made a name for herself as a negotiator for the National Union of Mineworkers in South Africa before taking up a plum job as an Executive Director at MTN, Africa’s largest mobile telecommunications firm. She played a key role in facilitating the company’s rapid and successful expansion across Africa and negotiated for licenses in Nigeria and Iran. In return for her efforts, MTN’s board awarded her stock options worth $150 million. She left MTN In 2007 and went on to found Smile Telecoms, which aims to provide mobile telecommunications to lower-income earners across Africa.
Pamela Golding, South Africa
Source: Real Estate
In 1976 Pamela Golding founded the Pam Golding Property Group with no start-up capital and only one sales assistant. Today, Pam Golding is South Africa’s largest independent residential and commercial real estate agency. The company has over 2,500 professionals across the globe and records about $2 billion in annual turnover. Golding has retired from active management in the company, but still remains chairperson.
Elisabeth Bradley, South Africa
In 1961 Bradley’s father, Albert Wessels, cornered the exclusive distributorship of Toyota in South Africa. The operation was subsequently called Toyota South Africa, and Wesco Investments, a holding company which Bradley, 74, chairs, owned 58% of the company. In 2008 she sold 25% of Wesco’s stake in the company to Japan’s Toyota Motor Corp for $320 million. She reportedly pocketed $150 million for herself. Bradley also serves as vice-chairman of Toyota South Africa Limited and serves on the board of AngloGold, Standard Bank group and Hilton Hotel.