Categories: Editors PickFeatures

Nigerian billionaire is set to unseat Oprah as the richest black woman in the world

Nigerian businesswoman Folorunsho Alakija is now the second richest black woman in the world with an estimated fortune of $2.5 billion; set to unseat talk-show queen Oprah Winfrey , who is worth $3 billion according to Forbes Magazine.

Alakija’s biggest break came in oil

In 1993, her company, Famfa Oil, was awarded an oil prospecting licence, which later became OML 127 – one of Nigeria’s most prolific oil blocks.

The company owns a 60 per cent stake in the block, valued at around $7.3 billion.

The 62-year-old mother-of-four started  her career as a secretary in a bank in the mid-1970s, then studied fashion in London and returned to Nigeria to start a label, Supreme Stitches. But she made the majority of her fortune through oil.

Africa boasts 55 billionaires worth a staggering $143.88 billion in total, according to pan-African magazine Ventures Africa.

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