Isabel dos Santos, the daughter of Angolas former president, José Eduardo dos Santos, was until recently considered the richest woman in Africa. She was once worth an estimated $2.2 billion and holds business interests spanning oil, diamonds, telecommunications, and banking.
Dos Santos fortune comes largely from her stake in Angolas national oil company, Sonangol, which she took over as President from 2016 to 2017. During her tenure, she was accused of overlooking corruption in the company and siphoning off funds to personal accounts. An investigation by the International Consortium of Investigative Journalists (ICIJ) dubbed Luanda Leaks in 2020, revealed how dos Santos and her husband profited from their connections to the Angolan government and international investors, and engaged in fraud and embezzlement.
In January 2020, Angolan authorities charged dos Santos with embezzlement and money laundering, freezing her assets in Angola. She has denied allegations of wrongdoing and described the charges as politically motivated.
Due to these legal issues and loss of assets, dos Santos wealth has decreased in recent years. In February 2021, her net worth was estimated at $500 million, a significant drop from her previous fortune.
As dos Santos wealth has declined, Zimbabwean businesswoman, Strive Masiyiwa, has emerged as the wealthiest woman in Africa. Masiyiwa, who is the founder and chairman of the telecommunications company, Econet Wireless, has a net worth of $1.2 billion. She has also invested in a range of sectors, including renewable energy, agribusiness, and education.
Masiyiwas wealth is derived from her stake in Econet Wireless, which operates in Zimbabwe, as well as other African countries such as Botswana, Zambia, and Nigeria. She has also invested in renewable energy projects across Africa, including solar energy and hydroelectric power. Masiyiwas philanthropy work includes founding the Higherlife Foundation, which helps disadvantaged children in Zimbabwe and Nigeria access education.
In conclusion, Isabel dos Santos was until recently the richest woman in Africa, but her fortune has decreased due to legal issues and loss of assets. Zimbabwean businesswoman, Strive Masiyiwa, has now emerged as the wealthiest woman in Africa, with a net worth of $1.2 billion, derived from her stake in Econet Wireless and investments in various sectors.
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