The Africa Report, Young Africa and the Africa CEO Forum have compiled a list of the continent’s most prominent women leaders. Leaders are still rare, although their presence contributes to better corporate performance.
When Snowy Khoza was appointed executive chairman of infrastructure company Bigen Africa Group in July 2016, nothing could have prepared her for what would happen next. “The day I took office, 70% of men resigned,” she recalled in March at the Women Initiative Panel at the Africa CEO Forumin Abidjan.
She may have already acquired her patroness’ stripes, but her abilities were questioned. “They had never been run by a woman, and by a black woman,” she added. Leaders from across the continent gathered at the Young Africa group’s event to share their strategies to bridge the gender leadership gap.
Snowy Khoza’s experience is anything but unique; most women in leadership positions in their industry have had to deal with gender bias in the professional world at some point. Not to mention the difficulties inherent in climbing to the top.
From afar, Africa has made considerable progress in recent years. Rwanda, Senegal and South Africa are ranked among the top ten countries for gender equality in Parliament in 2017, according to the UN. Rwanda, which dominates the rankings, is now an example around the world for making women’s emancipation one of the keys to its development. In 2008, the East African country became the first country in which the government included a majority of women.
There is still a long way to go. While these advances cannot be underestimated, there is still a long way to go. According to the Women Matter Africa study conducted by the consulting firm McKinsey and Co., almost half of women in ministerial positions have a portfolio that relates to social issues, not corresponding to first-rate roles.
TODAY, ONLY 29% OF SENIOR MANAGERIAL POSITIONS IN AFRICA ARE HELD BY WOMEN
The situation is no more enviable in the private sector. The number of women general managers in Africa is certainly above 4% of the global average. But with only 5%, there is still no room to bulwark. Businesses need a large influx of female talent – from the bottom up – whereas today only 29% of senior managerial positions in Africa are held by women.
Ibukun Awosika, president of the Nigerian bank First Bank and one of the 50 personalities in our ranking, spoke of the loneliness of the summits. “My experience tells me that the more you climb, the more you are alone,” she lamented at the Africa CEO Forum 2017. An observation that influenced his decision to join a banking group that fights gender inequality in the professional world.
As various studies have shown, companies still do not understand the many benefits of more balanced leadership between men and women. There is a direct correlation between equal gender representation on boards of directors and improved financial performance. According to the aforementioned McKinsey study, the top 25% of African companies with women-to-men equality have earnings before interest and taxes 20% higher than the industry average.
Ranking of Africa’s 50 Most Influential Women
Ronke-Amoni Ogunsulire, Ghana Director of the IFC, agrees in a report by the International Finance Corporation (IFC) entitled “Gender Diversity on Ghana’s Boards of Directors.” She writes that it is important to promote gender parity and increase women’s participation on boards, as it adds social and economic value and plays an important role in building institutional capacity and private sector development.
Folorunsho Alakija | Oil | (Nigeria. Vice-Chairman of the Board, Famfa Oil)
Forbes magazine ranked Alakija as the richest woman in Africa in 2021, Two years back she had an estimated fortune in January 2018 at $1.6 billion.
The junior oil company Famfa, which owns 60% of the Agbami offshore field, constitutes the bulk of its heritage. Alakija has also invested in publishing and fashion.
Elisabeth Medou-Badang | (Cameroon. Area Director and Spokesperson Middle East and Africa, Orange)
The Cameroonian climbed the ranks of the French telecom operator with impressive regularity. In 2009, Elisabeth Medou-Badang became CEO of Orange Botswana. In 2013, she returned to her home country to become CEO of Orange Cameroon.
And this year, she was appointed zone manager and spokesperson for Orange Africa and the Middle East. A position she hopes to use to further deploy the ongoing digital and mobile money revolutions.
Anta Babacar Ngom | Agribusiness (Senegal. Managing Director, Sedima)
The 33-year-old executive, trained in France and Canada, takes the family business, which is active in poultry and real estate, to new heights, which she joined in 2009 and has been running since January 2016.
That same year, Sedima invested $29 million in two new industrial units (a mill and a slaughterhouse). With a presence in Mali, Equatorial Guinea and Congo, Sedima is the leader in West Africa within a few years.
Miriem Bensalah-Chaqroun | (Morocco. Managing Director, Oulmès Mineral Water Company)
This woman of character has many hats, including those of airplane pilot and Harley-Davidson, humanitarian and good level golfer, but she has made herself known to the general public as the first “boss of Moroccan bosses”, leading the General Confederation of Moroccan Enterprises (CGEM) from 2012 to May 2018.
Miriem Bensalah-Chaqroun is the head of the Oulmès Mineral Waters Company, a leader in the mineral water sector in Morocco, a subsidiary of the Holmarcom family group, founded by his father, Abdelkader Bensalah.
She is also a director of the French groups Suez and Renault. Now it is going through a more difficult time. Since April, the Mineral Waters of Ulmes have been subject, along with other companies, including Centrale Danone, to a boycott because of the price deemed too high for its products. What the leader denies.
Mary Vilakazi | (South Africa. Director of Operations, FirstRand)
Mary Vilakazi, an accountant, was fired in March by FirstRand from her position as deputy managing director of MMI Financial Group. From 1 July, she will be the only woman on the Executive Board.
She is responsible for internal audit, corporate risk regulation and management, as well as strategy in insurance and the rest of Africa.
Ghislane Guédira Bennouna | (Morocco. Vice-President of the OCP)
This financial engineering specialist is both chief financial officer and executive vice president of the continent’s largest fertilizer producer. It must ensure that there is no cash flow problem, at the time the OCP acquires a 20% stake in Spain’s Fertinagro Biotech and has embarked on a $3.7 billion investment plan in Ethiopia.
Kate Kanyi-Tometi Fotso | (Cameroon. CEO, Telcar Cocoa)
Together with her late husband André Fotso, she was the most powerful couple in the country. It runs Telcar, a joint venture with agribusiness giant Cargill, which controls almost a third of the local cocoa export market. She is a shareholder of Ecobank Cameroon and sits on the board of directors of the Autonomous Port of Kribi.
Tabitha Karanja | (Kenya. Managing Director, Keroche Breweries)
Tackling multinationals to create the only Kenyan-owned brewery is a major challenge. After a start in wine-based appetizers, Karanja launched Summit Lager, whose success allowed the company to expand its plant at a cost of $29 million. Eventually, the company will be able to produce 110 million litres. This success has not yet allowed it to overshadow the local leader East African Breweries, a subsidiary of beverage giant Diageo.
Huguette Oyini | (Gabon. Deputy Managing Director, BGFIBank)
After sixteen years at BGFIBank, Oyini is now the number two bank, alongside CEO Henri-Claude Oyima. It monitors the efficiency of the group’s subsidiaries, which operate in seven African countries.
It is also responsible for the digitization of services and is responsible for managing the dispute between BGFIBank and the Gabonese company e-Doley, which accuses it of having usurped its mobile payment technology.
Rita Maria Zniber | (Morocco. CEO, Diana Holding)
As CEO of Diana Holding (spirituals, agribusiness), Zniber has hit hard by raising its stake in the French company Marie Brizard Wine and Spirits in 2014 and 2015. Its objective is to internationalize Morocco’s oldest wine and spirits company while maintaining control of the value chain, from production to distribution.
Janine Kacou Diagou | Insurance | (Ivory Coast. Managing Director, NSIA)
le 24 mai 2013, Jean Kacou Diagou pdg de La Nouvelle société interafricaine d’assurances (NSIA)
Running the largest insurance company in French-speaking Africa is not enough for him. In November 2017, she was appointed president of the former West African subsidiaries of Nigeria’s Diamond Bank, which was acquired by NSIA.
The founder’s daughter says she was used to being in her father’s shadow, but does not want to be defined as the daughter of. A few weeks ago, Jeune Afrique Business revealed NSIA’s partnership with Orange to create a digital bank.
Nadia Fassi-Fehri | (Morocco. Executive Director, Inwi)
In May, the royal business manager launched a scathing attack on Maroc Telecom, suing it for ignoring infrastructure sharing regulations.
The executive plans to invest more than $200 million a year to challenge rivals Maroc Telecom and Orange, focusing on mobile broadband internet.
The goal is to capture more revenue from data, a fast-growing segment.
Ghita Lahlou | (Morocco. Director Saham Insurance, Casablanca Central School)
The director of Saham Insurance, which runs the health and outsourcing industries, doesn’t just spend her energy on the insurance sector. She is the president of the civil society platform Citizens. She is also in charge of the Casablanca Central School, an engineering school that opened in 2015.
Lizé Lambrechts | (South Africa. Executive Director, Santam)
The former executive director of Sanlam Personal Finance runs the South African short-term insurer, owned by insurance giant Sanlam. In March, Santam co-owned with its parent company when it took control of Moroccan Saham, offering it the opportunity to become a larger player in other African markets.
Maria Ramos | (South Africa. Managing Director, Absa – ex-Barclays Africa)
Previously Managing Director of the South African National Treasury, Ramos took the helm of the public transport company Transnet in 2004, which it restructures and partially privatises.
At the helm of Absa since 2009, she now has to oversee the separation from former British parent company Barclays. Ramos also sits on the board of directors of luxury company Richemont.
Nonkululeko Nyembezi-Heita | (South Africa. President, Alexander Forbes Group)
Nyembezi-Heita, who started out as an engineer at IBM, really took off when she got into business. After a stint at the helm of asset manager Alliance Capital Management, she took over as head of ArcelorMittal South Africa and then IchorCoal. She chairs the board of directors of the Johannesburg Stock Exchange and the board of directors of alexander Forbes Group Holdings (the first woman in this position).
Delphine Traoré Maidou | (Burkina Faso. Director of Operations, Allianz Africa)
The insurance expert is Allianz’s eyes and ears on the continent. She has served as Managing Director of Allianz Global and Speciality since 2012 and has become the company’s first Africa Operations Manager. Allianz is working in 17 African countries and bought the majority stake in Nigeria’s Ensure Insurance in 2017.
Felleng Sekha | (South Africa. Director of Regulatory and Public Affairs, MTN)
Back at MTN, which she left in 2007 after participating in its expansion in Nigeria, Sekha took over a brand new department created specifically for this telecoms expert.
She was also vice-president of the South African Broadcasting Corporation.
Irene Charnley | (South Africa, Managing Director, Smile Telecoms)
The boss of Smile Telecoms has an innate gift for the organization. A former trade unionist, she entered the business world by creating the National Empowerment Consortium (NEC), a structure targeting those who had been excluded by apartheid from the economic controls.
NEC then acquired 35% of Johnnic Holdings, of which Charnley was executive director, which in turn took a stake in the future telecom giant MTN and which will also contribute to its listing on the Johannesburg Stock Exchange.
South African’s commitment to wealth redistribution has not changed. At the helm of Johnnic Holdings, she promoted the Ikageng project, through which 32 million disadvantaged citizens became shareholders of the company. And in 2002, it organized a 4 billion rand stake of the management and employees of MTN in the capital of the operator.
As MTN’s commercial director, Irene Charnley spearheaded the group’s expansion in Africa and beyond, helping to make it the continent’s leading telecommunications company. But MTN’s entry into Iran remains controversial: its rival Turkcell accuses it of stealing a license promised to him. A charge dismissed by MTN and Charnley.
After her resignation from MTN, despite a brief stint as president of the South African Broadcasting Corporation in 2009, telecoms remained her first passion. His company Smile Telecoms, founded in 2007, continues to grow and now boasts one of the largest 4G networks in Africa, operating in Nigeria, Uganda, Tanzania and soon dr Congo.
Amy Jadesimi | (Nigeria, Executive Director, Ladol)
Nigeria is emerging from a major recession and oil prices are rising, which is two good news for the Lagos Deep Offshore Logistics Base, which provides services to the oil industry.
To seize these new opportunities, Amy Jadesimi plans in the next two years to list the company on the Nigerian stock exchange, to expand its operations, especially on the 100 hectares of its free zone.
Nadia Fettah | (Morocco, Managing Director, Saham Finance)
Nadia Fettah’s meteoric ascent has hardly surprised those who know her. From consulting to insurance to entrepreneurship, Fettah has earned a reputation for efficiency and a sense of responsibility.
In March 2017, she was appointed head of Moroccan insurance giant Saham Finances, as well as Saham Insurance Maroc. To conquer the continent’s markets, this Moroccan has imposed her vision of an approach centered on the demands of local customers.
“In the past, insurers have imported, without adapting it, an old industry to the world’s youngest continent. The African customer has very different needs! she argues.
A year after her appointment, the South African group Sanlam acquired Saham Finances,propelling the Moroccan to the executive committee of Sanlam Emerging Markets, the result of the merger of the two entities, which now covers the north and south of the continent.
Nadia’s ambitions have grown with her responsibilities. Thus, although Sanlam and Saham have combined their strengths, the new group has only a modest size in two major markets: Nigeria and Kenya. “If we want to remain credible, we must necessarily develop in these markets,” she recently told reporters.
Ada Eze | (Nigeria. Executive Vice President, Total West Africa)
She is one of the most senior women in the African oil sector. Under his leadership, Total has explored new projects in Guinea and Mauritania.
Ada Eze also chairs Total Senegal, which signed a contract for a deepwater exploration block in May 2016.
Selma Babbou | (Tunisia. Managing Director, Amen Group)
A chartered accountant with IHEC, Selma Babbou holds a strategic position in Tunisia’s third largest conglomerate in the agribusiness, healthcare and banking sectors. In 2017, she notably led the exit of the IFC from the capital of Amen. The executive also sits on the Board of Directors of the African Automobile Credit Corporation.
Wided Bouchamaoui | (Tunisia. Director, HBG Holding)
Previously head of the Tunisian Union of Industry, Trade and Crafts (Utica), representing some 150,000 companies in the country, she played an active role in the transition after the 2011 Jasmine Revolution. Wided Bouchamaoui was awarded the 2015 Nobel Peace Prize on behalf of Utica, along with three other members of the Tunisian National Dialogue Quartet, for their role in consolidating democracy in the country.
She is a director of the family conglomerate HBG, founded by her father, Hedi Bouchamaoui, which is very diversified in many sectors, including automotive, retail and real estate.
Saïda Karim Lamrani | (Morocco. Executive Vice President, Safari-Sofipar-Cofimar)
The lawyer gradually rose through the ranks of the family group founded by her father, Mohammed Karim Lamrani, a former prime minister. The Safari Group includes holding companies in different sectors. It runs Smeia, a dealership that has import rights for Jaguar, Land Rover, BMW and Mazda. She is present on the board of directors of the Mohammed V Foundation.
Mama Tajmouati | (Morocco. CEO, Ynna Holding)
At 81, Mama Tajmouati is the most experienced businesswoman on our list. In 2016, she inherited her husband’s empire, made up of more than thirty companies controlled by Ynna Holding and in which was already heavily involved. The group covers many sectors (real estate, construction, hotels, petrochemicals, distribution, etc.), drawing from its diversity an engine of its growth.
Maidie Arkutu | (Ghana. Vice President Africa Francophone, Unilever)
After three years at the helm of Unilever Ghana, Arkutu became Vice President for Francophone Africa in January 2017. With an idea in mind: sell more Omo laundry and Lipton tea to consumers, especially Ivorians.
Hend El Sherbini | (Egypt. Managing Director, Integrated Diagnostics Holdings)
Excelling in the fields of medicine and business, El Sherbini successfully listed the company she founded on the London Stock Exchange in 2015.
The transaction valued the company, which provides diagnostic services in Egypt, Jordan and Sudan, to the tune of $668 million. At the end of 2017, IDH entered into a partnership with Man Capital and IFC to buy Echo-Scan.
Salwa Idrissi Akhannouch | (Morocco. CEO, Aksal Group)
The wife of Moroccan Agriculture Minister Aziz Akhannouch is the founder of the Aksal Group, which specializes in distribution, luxury goods and shopping malls. The company owns 50% of Casablanca’s Morocco Mall,where it launched its own beauty brand, Yan and One, in 2017.
Jalila Mezni | (Tunisia. CEO, Hygiene Products Company, SAH Lilas)
Here is a businesswoman who does not like light. However, her success in the wellness products business has made her an influential member of Tunisian employers. She is one of the few women to lead a publicly traded group. In 2016, SAH received a boost with the entry into the capital of Abraaj (in liquidation, its assets are taken over by ColonyCapital), promising to help it expand into West African markets. But Jalila Mezni doesn’t stop there. Recently, it has chosen to invest part of its own capital in the private education sector.
Heather Sonn | (South Africa. President, Steinhoff International)
President of the South African Investor Association, Sonn is the former CEO of broker Legae Securities. In December 2017, she became chair of Steinhoff’s supervisory board. Since then, it has had to deal with the fraud scandal that rocked the company at the end of last year and led to the resignation of its chief executive.
Maria Luisa Perdigo Abrantes | (Angola. Director, U.S.-Africa, Business Center)
Ex-wife of former Angolan President José Eduardo dos Santos and former president of the National Agency for Private Investment (ANIP), Abrantes remains halfway between business and politics.
In 2016, she was appointed non-executive director of the U.S.-Africa Business Center, a U.S. Chamber of Commerce program aimed at increasing trade and investment between Africa and the world’s largest power.
Bola Adesola | (Nigeria. Managing Director, Standard Chartered Nigeria)
With more than twenty-five years of experience, Adesola is a veteran of the banking industry. Prior to joining Standard Chartered as the boss of its Nigerian subsidiary in 2011, she worked at First Bank Nigeria and Citibank in Nigeria and Tanzania. Adesola was recently appointed Deputy Chair of the Executive Committee of the United Nations Global Compact Initiative, the largest gathering of sustainable development companies.
Patience Akyianu | (Ghana. Managing Director, Barclays Ghana)
After five years at the helm of Barclays’ Ghanaian subsidiary, Akyianu, who was the first woman to hold the position, will leave the bank in September. She will take over the management of insurer Hollard Ghana Holdings. The goal will be to make his company one of the leaders in the sector.
Ibukun Awosika | (Nigeria. President First Bank Nigeria)
Awosika is the first woman to hold the PCA position at First Bank Nigeria. A multi-award-winning executive, she is the founder and CEO of Chair Centre Group, which provides office furniture and security systems for banks. Awosika is a member of the Aspen Global Leadership entrepreneurial network and the author of the book Business, His Way, which showcases a Christian approach to business.
Hania Sadek | (Egypt. Chief Operating Officer, HSBC Bank Egypt)
Executive Director and Chief Operating Officer since 2010, Hania Sadek rose through the ranks of the Egyptian bank, which she joined in 1983 as head of the IT department.
Her thirty-five years of experience and deep understanding of the company make her a powerful woman in the country’s financial landscape.
Abiola Bawuah | (Nigeria. Managing Director, West Africa, UBA)
In March, Bawuah was promoted to head the West Africa region of United Bank for Africa to lead six countries. Prior to her appointment, she headed the Ghanaian subsidiary, where her performance was hailed with a 134% increase in profits before taxes.
David Sola Borha | (Nigeria. Managing Director Africa, Standard Bank Group)
Sola David-Borha will be able to show Western banks fleeing Africa that they are making a strategic mistake. The bank she runs, the South African Standard Bank, is expanding intensively in French-speaking Africa. For example, it has just opened a subsidiary in Côte d’Ivoire in April and is planning more in the sub-region.
“We aim to provide our customers with the full range of our financial services,” says Sola David-Borha, “unlike our international competitors who have a reduced strategy.” This does not prevent the Johannesburg-based financial institution from working with the industry giants to ensure its expansion on and off the continent.
This well-known tough banker was educated at Atedo Peterside’s NAL, Nigeria’s largest commercial bank. When Peterside launched IBTC Chartered Bank, David-Borha was one of the first recruits. “At the time,” she recalls, “we already had women in senior positions at IBTC, which was a real anomaly compared to the rest of the industry.” When IBTC and Standard Bank Nigeria merged, the path naturally opened in front of it.
David-Borha was appointed Managing Director of the new structure, Stanbic IBTC, in 2012, and remained in its position until 2017. A successful stint on the board of Standard Bank Group in Johannesburg. At the same time, she still found time to serve as vicar at the Redeemed Christian Church of God Evangelical Church.
Sharon Wapnick | Real estate | (South Africa. Founding Partner, Tugendhaft, Wapnick Banchetti and Partners)
Sharon Wapnick built her empire through her father’s wealth and her own work. Real estate mogul Alec Wapnick founded City Property, of which Sharon is now a director.
She is also President of Octodec Investments, a Johannesburg-listed real estate investment firm, a lawyer and senior partner at TWB.
Mosun Belo Olusoga | (Nigeria. President Access Bank)
Chair of Access Bank’s Board of Directors since July 2015, which she joined in November 2007, this Nigerian woman has more than thirty years of banking experience. She is recognized as a risk management expert. Previously head of investment banking at GT Bank, she currently also serves on the boards of several other institutions, and is a consultant for the KRC specialist fund.
Yolanda Cuba | (South Africa. CEO of Vodafone Ghana)
She is one of south Africa’s most respected business leaders, appointed at just 29 years of age AS CEO of Mvelaphanda Group, a conglomerate founded by politician Tokyo Sexwale.
She became CEO of Vodafone Ghana in 2016, after serving as executive director of South African Breweries, a subsidiary of SABMiller.
Aïda Diarra | (Mali. Vice President Africa, Western Union)
With a taste for business developed from an early age, encouraged by a family entourage accustomed to crossing borders, Aida Diarra joined the Western Union money transfer group, which dominates this sector on the continent, in 1999. Malian is betting on “new technologies and new channels” to maintain this leadership position, as it faces a growing number of competitors. In 2016, she told JA that she had no intention of leaving Western Union anytime soon, given the “phenomenal African outlook.”
Laurence Do Rego | (Benin-France. Director of Commercial Banking, Ecobank)
After highlighting serious financial problems under the leadership of former director Thierry Tanoh, this accountant was entrusted with the task of eliminating bad debts from the commercial banking division. The sector accounts for 19% of its borrowing but 39% of its bad debts. The success of the broader turnaround in the bank’s strategy will rest heavily on its shoulders.
Lamia Tazi | (Morocco. Managing Director, Sothema)
A pharmacist by training, Lamia Tazi leads the Moroccan group founded by her father, Omar Tazi.
She restructured the company’s export department while overseeing the start-up of the Dakar plant and the production of cancer drugs at the end of May, she was elected Secretary-General of the Moroccan Pharmaceutical Industry Association.
Yvonne Ike | (Nigeria-UK. Managing Director for Sub-Saharan Africa, Bank of America Merill Lynch)
The former Managing Director for West Africa at Renaissance Capital and JPMorgan has more than two decades of experience at the highest level in financial services. It will help the bank revise its continental exposure after an estimated loss of $292 million following the loan to South African investor Christo Wiese.
Nicky Newton-King | (South Africa. Managing Director, Johannesburg Stock Exchange)
The boss of Africa’s largest stock exchange is busy defending an institution under attack from all sides in the wake of numerous scandals, the latest of which is the collapse of Steinhoff International. Nicky Newton-King has since pledged to regain market confidence. In a recent op-ed, she lamented: “We have now become so defiant towards those who hold positions of authority (…) that it is hard to believe that someone could now act in a different interest than his own. Nevertheless, she hopes that a further recovery in the South African economy will prompt a new set of companies to go public.
Catherine Lesetedi | (Bostwana. Executive Director, BIHL)
The director of one of Botswana’s leading financial services groups has a daunting task ahead of her, after her investment in microfinance institution Letshego proved less profitable than expected. Catherine Lesetedi has been running the company since 2016. BIHL reported double-digit premium growth in 2017. At the same time, it is lobbying the government to strengthen the local financial sector.
Gloria Serobe | (South Africa. Founder of Wipohld and Managing Director, Wipcapital)
A director of Sasol Mining and South African arms manufacturer Denel, Serobe is known for her contribution to the empowerment of black women.
Women Investment Portfolio Holdings (Wiphold), which she founded in 1994, is majority-owned by blacks and women.
Binta Touré Ndoye | (Mali. Managing Director, Oragroup)
The banker managed the Malian and Togolese subsidiaries of Ecobank before becoming head of Oragroup, owned by Emerging Capital Partners.
Its mission is to accelerate the growth of the bank and to expand its customer base of SMEs and individuals through the digitization of offers.
Martine Coffi-Studer | Logistics | (Ivory Coast. Director, Bolloré Africa Logistics Ivory Coast)
The former Ivorian Communications Minister was well-connected and confirmed in May to the position she has held since 2014. She recently won a court victory in the dispute between her and Adama Bictogo over a plot of land in Abidjan.
Its role was instrumental in securing the contract for the second terminal at the port of Abidjan. Founder of the communications agency Ocean Ogilvy, she is present on the board of directors of ten other companies.
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