African women are finally claiming their place among the continent’s most powerful business leaders, but few have turned ambition, instinct and relentless hustle into a multibillion-dollar empire quite like Folorunso Alakija.
Fourteen years after entering Forbes’ roll call of Africa’s richest people at 61, Folorunso Alakija marked her 75th birthday on July 15, 2026, as one of the continent’s most recognisable symbols of female business ambition.
Famfa Oil, the company behind much of her fortune, said: “Her journey reflects courage, faith, discipline and an enduring commitment to excellence.”
The tribute captured the rise of a woman who moved from secretarial work and banking into fashion before entering Nigeria’s capital-intensive oil industry.
At the height of her wealth, Forbes valued Alakija at about $2.5 billion and identified her as Nigeria’s first female billionaire.
