The face of corporate leadership in Africa is changing, and women are increasingly sitting in the boardrooms where some of the continent’s biggest business decisions are made. From banking and mining to brewing, insurance, retail and telecommunications, women are running companies with billions of dollars in value. The latest picture of that shift comes from Africa.com’s 2026 Definitive List of Women CEOs, which identifies the women leading some of Africa’s largest businesses.
Now in its sixth year, the ranking was compiled using Bloomberg data after researchers examined more than 1,500 companies listed across African stock exchanges. It also looks beyond group CEOs to women running major divisions and subsidiaries, as well as the African operations of some of the world’s biggest multinational companies. Unlike rankings based on public profile or reputation, the list is built around the size of the companies and the seniority of the positions held.
Vilakazi holds on to the top spot
Mary Vilakazi, Group Chief Executive of FirstRand, remains the highest-ranked woman on the list for the second year running.Vilakazi took over as FirstRand’s group CEO in 2024 and continues to lead one of Africa’s largest financial groups. Her position is also part of a striking development inside FirstRand itself. For the first time in the group’s history, women are at the helm of its three key businesses: Vilakazi as Group CEO, Lytania Johnson at FNB and Emrie Brown at RMB.The development reflects a wider shift across Africa’s corporate landscape, where women are increasingly taking charge of businesses with significant economic influence.
Banking, mining and consumer industries dominate
South Africa has a particularly strong presence in the top 10, with Mpumi Madisa of Bidvest, Mpumi Zikalala of Kumba Iron Ore and Jeanette Marais of Momentum Group joining Vilakazi. The list also highlights women at the top of major companies elsewhere on the continent: Naziha Belkeziz leads Banque Centrale Populaire in Morocco, while Nigeria’s Dr Adaora Umeoji heads Zenith Bank and Nneka Onyeali-Ikpe leads Fidelity Bank. Kenya’s Jane Karuku heads East African Breweries, while Ruth Zaipuna is CEO of Tanzania’s NMB Bank.
Together, the top 10 illustrate the breadth of sectors in which women now occupy senior leadership roles.The companies represented span banking, insurance, mining, industrials, brewing, healthcare, real estate and telecommunications. The geographic spread is equally broad, covering countries from Morocco and Egypt in North Africa to Nigeria, Ghana and Côte d’Ivoire in the west, Kenya, Tanzania, Uganda and Rwanda in the east, and Zambia, Zimbabwe, Botswana, Malawi, Mauritius and South Africa in the south.
The 2026 ranking is divided into three categories. The first group covers women serving as chief executives of Africa’s largest publicly traded companies. The second recognises women running major divisions or subsidiaries of large listed groups, positions that can themselves involve responsibility for businesses worth billions of dollars.The third group focuses on women leading the African operations of major multinational companies, including Microsoft, Visa, Mastercard, Nestlé, Siemens and Bank of America.Within each group, companies are ranked according to size.
List of Chief Executives of Africa’s Largest Listed Companies -Group 1
- 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
List of Divisional and Subsidiary Chief Executives – Group 2
- 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
List of Leaders of Multinational Operations in Africa – Group 3
- 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
