The Women Stewarding African Business: The Definitive List of Women CEOs 2026

Drawing on Bloomberg data across every African stock exchange, Africa.com’s annual ranking identifies the women at the head of the continent’s largest companies.

Across Africa, women are running some of the continent’s most valuable companies: its largest banks, its brewers, mining houses, its insurers and its retailers. The 2026 Definitive List of Women CEOs sets out who they are and what they lead, ranked on the numbers rather than reputation.

Now in its sixth year, the Definitive List is an independent, data-driven record compiled by Africa.com using Bloomberg data. To build it, our researchers screened more than 1,500 companies across all of Africa’s stock exchanges, identifying the women who hold the top executive role at the continent’s largest listed businesses, and then extended the exercise to the women leading major divisions and the African operations of global multinationals. The list reflects where economic power resides, and this year, it rests significantly with women. Every name earned its place on measurable criteria: the scale of the company she leads and the seniority of the role she holds. This year’s list is sponsored by FNB and RMB.

Mary Vilakazi holds the top spot

At the head of the list is Mary Vilakazi, Group Chief Executive Officer of FirstRand, taking over the helm of the group in 2024. Vilakazi retains the top spot for the second consecutive year, a testament to the scale of the business she leads, rather than a single year’s news cycle.

Our researchers found another notable story at FirstRand. For the first time in the ranking and the group’s history, women now lead its three most critical businesses: Vilakazi as Group CEO, Lytania Johnson at FNB , and Emrie Brown at RMB . It is a milestone that would have been difficult to conceive a decade ago, and one that speaks to a broader shift visible throughout this year’s list.

A continent-wide picture

The top ten reads like a map of African enterprise. It includes Mpumi Madisa at Bidvest, Mpumi Zikalala at Kumba Iron Ore and Jeanette Marais at Momentum in South Africa; Naziha Belkeziz at Banque Centrale Populaire in Morocco; Nigeria is represented by Dr. Adaora Umeoji at Zenith Bank and Nneka Onyeali-Ikpe at Fidelity Bank; Jane Karuku at East African Breweries in Kenya; and Ruth Zaipuna at NMB Bank in Tanzania, among many others.

The women on the list lead companies across Africa’s key sectors, including banking and insurance, mining and industrials, brewing and consumer goods, healthcare, real estate and telecommunications. They span economies across the continent — from Morocco and Egypt in the north, Nigeria, Ghana and Côte d’Ivoire in the west, Kenya, Tanzania, Uganda and Rwanda in the east, to Zambia, Zimbabwe, Botswana, Malawi, Mauritius and South Africa in the south. Read together, the names make a simple case: women are not on the margins of African business. They are running it.

How the list is organised

The Definitive List is presented in three groups. Group 1 ranks women who serve as chief executive of a publicly traded company. Group 2 recognises women who lead a major division or subsidiary of a large listed group, roles of substantial scale in their own right. Group 3 features women leading the African operations of global multinationals, from Microsoft and Visa to Mastercard, Nestlé and Bank of America. Within each group, entries are ordered by company size.

The full 2026 Definitive List follows and the recorded unveiling is available to watch here.

Group 1: Chief Executives of Africa’s Largest Listed Companies

1. Mary Vilakazi, Group CEO, FirstRand Ltd (South Africa), $8.58B

2. Mpumi Madisa, Chief Executive Officer, Bidvest Group Ltd (South Africa), $6.97B

3. Mpumi Zikalala, Chief Executive Officer, Kumba Iron Ore Ltd (South Africa), $4.35B

4. Jeanette Marais, Group CEO, Momentum Group Ltd (South Africa), $4.06B

5. Naziha Belkeziz, Chairman & CEO, Banque Centrale Populaire (Morocco), $2.87B

6. Dr. Adaora Umeoji, OON, Group Managing Director/CEO, Zenith Bank PLC (Nigeria), $2.83B

7. Bertina Engelbrecht, Chief Executive Officer, Clicks Group Ltd (South Africa), $2.64B

8. Felicia Msiza, Chief Executive Officer, Raubex Group Ltd (South Africa), $1.15B

9. Jane Karuku, Group Managing Director & CEO, East African Breweries PLC (Kenya), $995.19M

10. Ruth Zaipuna, Managing Director & CEO, NMB Bank Plc (Tanzania), $856.51M

11. Sylvia Mulinge, Chief Executive Officer, MTN Uganda Ltd (Uganda), $845.00M

12. Yemisi Edun, Managing Director, FCMB Group Plc (Nigeria), $741.44M

13. Nneka Onyeali-Ikpe, Managing Director & CEO, Fidelity Bank PLC (Nigeria), $654.19M

14. Ramasela Ganda, Group CEO, Zeda Ltd (South Africa), $589.29M

15. Michelle Kilpin, Managing Director, Tanzania Breweries Ltd (Tanzania), $562.66M

16. Dorette Neethling, Acting CEO, Adcock Ingram Holdings Ltd (South Africa), $537.49M

17. Nasim Devji, Group CEO, Diamond Trust Bank Kenya Ltd (Kenya), $533.94M

18. Abena Osei-Poku, Managing Director, Ecobank Ghana PLC (Ghana), $477.12M

19. Pakinam Kafafi, Chief Executive Officer, Taqa Arabia Co (Egypt), $429.68M

20. Marie Josephine Sidibe, Managing Director, Société Multinationale de Bitumes (SMB) (Côte d’Ivoire), $377.76M

21. Agnes Jazza, Chief Executive Officer, FMB Capital Holdings PLC (Malawi), $348.16M

22. Jalila Mezni, Chief Executive Officer, Société d’Articles Hygiénique (Tunisia), $344.45M

23. Zanele Matlala, Chief Executive Officer, Merafe Resources Ltd (South Africa), $311.49M

24. Faith Mukutu, Chief Executive Officer, Zambeef Products PLC (Zambia), $307.11M

25. Lamia Tazi, Chief Executive Officer, Sothema Société de (Morocco), $283.23M

26. Dr. Owen Omogiafo, OON, President/Group CEO, Transnational Corp of Nigeria (Nigeria), $280.24M

27. Mukwandi Chibesakunda, Chief Executive Officer, Zambia National Commercial (Zambia), $273.27M

28. Keabetswe Pheko-Moshagane, Managing Director, Absa Bank Botswana Ltd (Botswana), $219.21M

29. Val Nichas, Chief Executive Officer, Spur Corp Ltd (South Africa), $212.74M

30. Catherine Lesetedi, Group CEO, Botswana Insurance Holdings (Botswana), $205.87M

31. Thais Cavinatto, Managing Director, Zambian Breweries PLC (Zambia), $204.62M

32. Valdene Reddy, Group CEO, JSE Ltd (South Africa), $189.77M

33. Dalia Khorshid, Group CEO, Beltone Holding (Egypt), $176.47M

34. Temwani Simwaka, Chief Executive Officer, NBS Bank Ltd (Malawi), $169.04M

35. Prof. Dr. Hend El Sherbini, Group CEO, Integrated Diagnostics (Egypt), $165.71M

36. Ethel Emma-Uche, Managing Director, Bralirwa SA (Rwanda), $165.17M

37. Jackie van Niekerk, Chief Executive Officer, Attacq Ltd (South Africa), $159.05M

38. Njilan Senghore, Managing Director, Trust Bank Ltd/Gambia (Ghana), $134.95M

39. Mercy R. Ndoro, Group Chief Executive, Dairibord Holdings Ltd (Zimbabwe), $126.75M

Group 2: Divisional and Subsidiary Chief Executives

Tied at 40. Emrie Brown, CEO, RMB and CEO, Corporate and Investment Banking; and Lytania Johnson, CEO, FNB and CEO, Retail and Business Banking, FirstRand Ltd (South Africa), $8.58B

41. Mariam Cassim, Chief Executive Officer, Vodacom Fintech Group & Group Partnerships, Vodacom Group Ltd (South Africa), $8.35B

42. Mizinga Melu, Managing Director & CEO, Zambia, Absa Group Ltd (South Africa), $7.29B

43. Kanyisa Mkhize, CEO, Sanlam Corporate, Sanlam Ltd (South Africa), $2.44B

44. Sally-Anne Jackson, Managing Director, MRP Home, Mr Price Group Ltd (South Africa), $2.21B

45. Josephine Ankomah, Managing Director, Ecobank Kenya & Regional Executive (CESA), Ecobank Transnational Inc (Nigeria), $2.13B

46. Andronicca Masemola, CEO, Barloworld Equipment Southern Africa, Barloworld Ltd (South Africa), $2.09B

47. Liezel Holmes, Managing Director, Grains, Tiger Brands Ltd (South Africa), $1.90B

48. Eng. Rosemary Oduor, General Manager, Commercial Services & Sales, Kenya Power & Lighting Ltd (Kenya), $1.69B

49. Annastacia Kimtai, Managing Director, KCB Bank Kenya Ltd, KCB Group PLC (Kenya), $1.51B

Tied at 50. Prabashini Moodley, CEO, Life and Savings Cluster; and Zulfa Abdurahman, Acting Managing Director, Old Mutual Investments, Old Mutual Ltd (South Africa), $1.20B

51. Miriam Olusanya, Managing Director, Guaranty Trust Bank Limited, Guaranty Trust Holding Co PLC (Nigeria), $1.19B

52. Felicite Nson, Managing Director, Uganda Breweries Limited, East African Breweries PLC (Kenya), $995.19M

53. Lydia Rono, Director, Corporate and Institutional Banking Division, Co-operative Bank of Kenya (Kenya), $873.26M

54. Hélène Echevin, Chief Executive Officer, C-Care, CIEL Ltd (Mauritius), $823.64M

55. Marietjie Beyers, Managing Director, Arxo Logistics, Tharisa PLC (South Africa), $670.22M

56. Yasmine Galal, Head of Consumer & Business Banking, Egyptian Gulf Bank (Egypt), $566.84M

57. Valeta Mthimkhulu, Managing Director, CBZ Bank, CBZ Holdings Ltd (Zimbabwe), $550.09M

58. Charlotte Amanquah, Head, Commercial Banking, Ecobank Ghana PLC (Ghana), $477.12M

Tied at 59. Letwin Mawire, CEO, Insurance; and Tandiwe Linda Masunda, CEO, Investments, ZB Financial Holdings (Zimbabwe), $437.83M

60. Njeri Jomo, CEO and Principal Officer, Jubilee Health Insurance Ltd, Jubilee Holdings Ltd (Kenya), $341.73M

61. Butsi Tladi, CEO, Corporate, Alexander Forbes Group (South Africa), $326.94M

62. Chantal Umutoni Kagame, CEO, Mobile Money Rwanda Limited, MTN Rwandacell PLC (Rwanda), $199.00M

63. Dr. Diana Karusisi, CEO, Bank of Kigali, BK Group PLC (Kenya), $197.23M

Group 3: Leaders of Multinational Operations in Africa

Tied at 64. Lillian Barnard, Chief of Enterprise Partners & Middle East Africa (MEA) (South Africa); and Mirna Arif, General Manager, Middle East & Africa Growth Markets (Egypt), Microsoft Corporation, $281.7B

65. Taelo Mojapelo, CEO, bp South Africa, BP (South Africa), $189.3B

66. Taryn Woodbridge, CEO, Mercedes-Benz South Africa, Mercedes-Benz (South Africa), $149.5B

67. Yvonne Ike, Managing Director, Head of Sub-Saharan Africa, Bank of America Corporation (Nigeria), $113.7B

68. Nicole Roos, Managing Director and Chairperson, Nestlé Eastern and Southern Africa Region, Nestlé (South Africa), $108.5B

69. Sabine Dall’Omo, CEO, Siemens Sub-Saharan Africa, Siemens AG (South Africa), $87.0B

Tied at 70. Nneka Enwereji, CEO, Citibank Nigeria (Nigeria); and Sarah Arapta, Chief Executive, Citibank Uganda (Uganda), Citigroup Inc., $85.2B

71. Nazia Pillay, Managing Director, SAP Southern Africa, SAP SE (South Africa), $41.6B

72. Aminata Kane Ndiaye, Group Country Manager, West and Central Africa, VISA Inc (Ivory Coast), $40.0B

73. Elsie Kambala, Country Manager, Namibia, SLB (Namibia), $35.7B

74. Dr. Folasade Femi-Lawal, Country Manager, Area Business Head, West Africa, Mastercard (Nigeria), $32.8B

75. Oreoluwa Atinmo, Managing Director, FanMilk Nigeria, Danone (Nigeria), $30.8B

76. Rita Kavashe, Managing Director and Board Chair, Isuzu East Africa, Isuzu Motors Ltd (Kenya), $23.0B

77. Joeceyne Muhutu-Remy, Managing Director, Sub-Saharan Africa, Spotify (South Africa), $19.4B

78. Nolitha Fakude, Chair of Anglo American’s Management Board in South Africa, Anglo American plc (South Africa), $18.5B

79. Delphine Traoré, CEO, General Insurance, Sanlam Allianz General Insurance (South Africa), $16.83B

80. Uche Ofodile, CEO, MTN Benin, MTN Group Limited (Benin), $13.92B

81. Vivien McMenamin, CEO, Corrugated Packaging, Mondi PLC (South Africa), $8.7B

82. Phuthi Mahanyele-Dabengwa, Group Executive Director, Naspers South Africa, Naspers Ltd (South Africa), $7.18B