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Isabel dos San­tos Over­takes Folorun­sho Alak­i­ja As Africa’s Rich­est Woman in 2018

Two women have emerged in the 2018 African bil­lion­aires list fea­tured on Forbes mag­a­zine as ex-Angolan Pres­i­den­t’s daugh­ter main­tains lead over Niger­ian busi­ness­woman. 
from left Isabel dos San­tos & Folorun­sho Alak­i­ja

Accord­ing to Forbes 2018 African bil­lion­aire’s list, Isabel dos San­tos, the eldest daugh­ter of Angola’s long­time for­mer pres­i­dent, Jose Eduar­do dos San­tos, has emerged Africa’s rich­est woman with a whop­ping $2.7 bil­lion.
Out of the 23 African bil­lion­aires fea­tured on Forbes 2018 list, only two are women; Isabel dos San­tos and Folorun­sho Alak­i­ja, unchanged from last year. Isabel dos San­tos is worth an esti­mat­ed $2.7 bil­lion this year, down from $3.2 bil­lion a year ago.
Here are the bil­lion­aire busi­ness wom­en’s pro­files accord­ing to Forbes;
Isabel dos San­tos
Net worth: $2.7 bil­lion
Ori­gin of wealth: Invest­ments

Age: 44
Coun­try: Ango­la
Isabel dos San­tos is the old­est daugh­ter of Angola’s long­time for­mer pres­i­dent, Jose Eduar­do dos San­tos, who stepped down in fall 2017. Her father made her head of Sonan­gol, Angola’s state oil firm, in June 2016, but Angola’s new pres­i­dent removed her from that role in Novem­ber 2017.
Forbes research found that while pres­i­dent, Isabel’s father trans­ferred to her stakes in sev­er­al Angolan com­pa­nies, includ­ing banks and a tele­com firm. She pur­chased shares of Por­tuguese com­pa­nies, includ­ing tele­com and cable TV firm Nos SGPS.
A spokesper­son for Isabel told Forbes that she “is an inde­pen­dent busi­ness­woman and a pri­vate investor rep­re­sent­ing sole­ly her own inter­ests.”
Folorun­sho Alak­i­ja
Net worth: $1.6 bil­lion
Ori­gin of wealth: Oil
Age: 67
Coun­try: Nige­ria
Folorun­sho Alak­i­ja is vice chair of Fam­fa Oil, a Niger­ian oil explo­ration com­pa­ny with a stake in Agba­mi oil field, a pro­lif­ic off­shore asset.
Fam­fa Oil’s part­ners include Chevron and Petro­bras. Alakija’s first com­pa­ny was a fash­ion label whose cus­tomers includ­ed the wife of for­mer Niger­ian pres­i­dent Ibrahim Babangi­da.
The Niger­ian gov­ern­ment award­ed Alakija’s com­pa­ny an oil prospect­ing license in 1993, which was lat­er con­vert­ed to an oil min­ing lease. The Agba­mi field has been oper­at­ing since 2008; Fam­fa Oil says it will like­ly oper­ate through 2024.

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