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By Investment Corporation of Dubai,

15 Famous African Entrepreneurs

African entrepreneurs have made significant contributions to the continent’s economy. They have contributed by generating hundreds of billions of dollars in revenue and opening up new markets for products and services. Through these businesses, they have been able to develop solutions to some of the local challenges that African countries face daily. Additionally, most of these entrepreneurs play the role of being inspirational figures to the younger generations as it is known that most of these African countries and developing countries. Since they are not as developed compared to the countries in the other 6 continents in the world.

Various famous African entrepreneurs, on the other hand, are known to have an impact on society through their various business ideas. As a result, here are 15 Famous African Entrepreneurs you should be familiar with. They include;

1. Strive Masiyiwa (Zimbabwe) 鈥� Founder of Econet Wireless

Strive Masiyiwa is a Zimbabwean entrepreneur and philanthropist. He is the founder and executive chairman of the Econet Group and Cassava technologies. His business success has made him one of the most influential African entrepreneurs. Thus leading him to be the only African member of the Committee on Conscience of the United States of Holocaust Memorial Museum.

In addition, when it comes to leadership Masiyiwa has received various international accolades. Some of these include being named one of the 25 Leaders of Africa’s Renaissance by the Times of London and also the 50 most influential business leaders in the world by Fortune Magazine. In 2022, he was named the UK Spear’s Magazine Entrepreneur of the Year.

2. Folorunsho Alakija (Nigeria) 鈥� Founder of Famfa Oil

By Kaizenify –

Folorunsho Alakija is a Nigerian businesswoman and billionaire. She is considered to be one of the wealthiest women in the world.  Alakija made her fortune as an oil tycoon, building her business empire in the oil and gas industry. She started out working for a fashion label but eventually moved into the oil and gas industry.  However, she is a role model for African entrepreneurs as she was able to portray too many people worldwide not only Ain Africa that it is possible to build a successful business in Africa.

3. Dayo Adetiloye (Nigeria) 鈥� Founder of Leadspace

Dayo Adetiloye is a successful Serial Entrepreneur, International Business Planning Consultant, Speaker, Trainer, Author, Mentor, Coach, Blogger, and Marketing Networker. However, he is the founder and CEO of the Lagos-based technology company Access Bank.  Dayo has become instrumental in launching the digital revolution in Nigeria, paving the way for the country’s banking sector to become a front-runner in digital financial services. He is therefore considered as one one of the most successful African entrepreneurs, after making a  name for himself in the world of digital banking and finance. 
In the Nigerian economy, he has played a major role by spearheading the development of innovative products and services has had a huge impact on the country’s economy. However, he is currently working on developing new technologies that can be used to improve the banking sector across African countries. Additionally, Dayo generally helps people to discover, develop and fulfill their business potential. Nevertheless, he has helped over 5000 people obtain grants such as the YouWiN Grant, the Tony Elumelu Grant, the Diamond Bet Grant, the Etisalat Grant, the Nigeria International Breweries Kick Start Grant, GEM, and many other local and international grants.

4. Tony Elumelu (Nigeria) 鈥� Founder of Heirs Holdings

By Graham Carlow,

Tony Elumelu is a Nigerian entrepreneur, and philanthropist. He not only founded Heirs Holdings, a pan-African investment company but also the Tony Elumelu Foundation. In addition, he is the former Chairman of the United Bank for Africa. However, Elumelu led a small group of investors to take over a failing Crystal Bank in 1997 which was later renamed Standard Trust Bank. He turned it profitable within a few years, and in 2005, he led one of Sub-Saharan Africa’s largest banking mergers by acquiring United Bank for Africa (UBA).

Elumelu has not only become a well-known entrepreneur in Africa but has also been widely recognized for his achievements. He was named by Forbes Magazine as one of the 20 most powerful men in Africa and one of the top 10 African philanthropists. 

5. Ashish J. Thakkar (Rwanda) 鈥� Founder of Mara Group

Ashish J. Thakkar is a well-known African entrepreneur who was born in the United Kingdom before relocating to East Africa. He founded the Mara Group, a conglomerate of businesses specializing in technology, real estate, manufacturing, and financial services. Thakkar became a successful entrepreneur at a young age thanks to his entrepreneurial skills and the limited resources he had to build his business even though Thakkar dropped out of school to start his own business with a $5,000 loan. Nonetheless, he not only joined the World Economic Forum’s Young Global Leaders but was also named to Fortune magazine’s list of the top “40 under 40” and received numerous accolades.
Thakkar founded the Mara Foundation, a non-profit organization that mentors and supports young African entrepreneurs, in 2009. Mara Mentor, a mobile application developed by the Mara Foundation, connects young entrepreneurs with business professionals. As a result, Thakkar, as a philanthropist, has contributed to education, health, and other humanitarian projects on the African continent.

6.Rajiv Ruparelia (Uganda) 鈥� Founder of Ruparelia Group

Rajiv Ruparelia is a Ugandan entrepreneur and business mogul.  He is the founder and chairman of the Ruparelia Group but also the owner of Crane bank. Respectively the company is known to be the largest and most successful conglomerate in East Africa while Crane Bank is one of the largest financial services providers in Uganda.

Rajiv Ruparelia rose to fame as an entrepreneur when he founded the Ruparelia Group in 1997. Today, the Ruparelia Group owns and operates businesses across diverse sectors, including real estate, education, hospitality, and financial services.

7. Mohammed Dewji (Tanzania) 鈥� Founder of MeTL Group

By User: Kakatabu –

Mohammed Dewji is an African entrepreneur in Tanzania. He is the founder and CEO of MeTL Group. It is one of the largest conglomerates in Tanzania with interests in food and beverage, agriculture, financial services, mobile telephony, infrastructure and logistics, and manufacturing.

He is considered to be the 17th richest person and the youngest billionaire in Africa. In 2013, he was the first Tanzanian to join the Forbes Billionaires list. His commitment to making a difference in Africa by investing in youth, health, education, and job creation was portrayed when he established the Mo Dewji Foundation and also joined the Giving pledging. 

8.Aliko Dangote( Nigeria)-Dangote Group

By Investment Corporation of Dubai,

Aliko Dangote is the founder, chairman, and CEO of the Dangote Group, which is   West Africa’s largest industrial conglomerate. Dangote’s net worth is estimated to be US$18.7 billion as of January 2023, making him the richest person in Africa and the richest black person in the world, according to the Bloomberg Billionaires Index. 

In 2014, the Nigerian government noticed Dangote for donating approximately 150 million nairas to stop the spread of Ebola. As a philanthropist, Dangote has donated various millions of his money to make society a better place for everyone to live in.

9. Phuti Mahanyele (South Africa) 鈥� Founder of Sigma Capital

Phuthi Mahanyele-Dabengwa is a South African business executive who currently serves as the CEO of Naspers South Africa. She was previously the co-founder and CEO of Sigma Capital, as well as the CEO of the Shanduka Group. Not only was Mahanyele-Dabengwa named to The Wall Street Journal’s list of the “Top 50 Women in the World to Watch” in 2008, or to Africa Investors’ list of “Leading African Women in Business” in 2012, but she was also named Forbes Woman Africa’s “Business Woman of the Year” in 2014. Furthermore, she was named “Business Woman of the Year” by the All Africa Business Leaders Awards in 2019, establishing her as a highly respected business leader.
The World Economic Forum named her a Global Young Leader in 2007. She is active in the World Economic Forum’s “Dignity Day” initiatives and has served as South Africa’s Global Dignity chairperson. She was the only African woman on the panel “Expanding Opportunities: The New Era For Business In Africa,” moderated by former US President Bill Clinton, at the US-Africa Leaders Summit in Washington D.C. in 2014.

10. Iyinoluwa Aboyeji (Nigeria) 鈥� Founder of Andela

By Foundations World Economic Forum –

Iyinoluwa Aboyeji is not only a Nigerian entrepreneur, and philanthropist, but also an author. He was born in 1989 in Lagos, Nigeria. He is best known for co-founding Flutterwave and Adela. Flutterwave is a digital payments platform for businesses, while Andela is a technology-focused education and talent development business respectively.
Aboyeji is considered to be a role model for many young African entrepreneurs. He is, however, referred to as a prominent figure in the African entrepreneurship world. Due to his achievement that he has accomplished Aboyeji has been presented with various accolades including the 2020 Nigerian Leadership 100 Award for Most Outstanding Entrepreneur.
Additionally, Aboyeji is the general partner and co-founder of Future Africa, a platform that connects mission-driven innovators with capital, coaching, and community. However, he served as the deputy director-general for Oby Ezekwesili’s 2019 presidential campaign after co-founding Future Africa. Aboyeji worked on the development of two African technology companies, Andela and Flutterwave. He is also the Co-Founder and Chairman of the construction company Talent City Inc.

11. Adii Pienaar (South Africa) 鈥� Founder of Woothemes

Adii Pienaar is not only a South African entrepreneur but also an author. He is the founder and CEO of Conversio, a customer-centric e-commerce software company, but also the co-founder of WooThemes, a WordPress themes and Plugin Company, and Public Beta, an online collaboration platform.

Pienaar is a respected thought leader in entrepreneurship and digital marketing. He has been featured on the TEDx stage, Forbes, and The Next Web. He is also an active investor in the African startup space. Pienaar was recognized as a 2012 Young Global Leader by the World Economic Forum, and he has served on the boards of several African tech companies.

12.Tunde Kehinde (Nigeria) 鈥� Founder of Jumia

Tunde Kehinde is a famous African entrepreneur. He is the co-founder and managing partner of the $200 million venture capital fund, Africa鈥檚 Talking. He is also the co-founder of Jumia, a leading e-commerce platform in Africa.

Kehinde is not only a founding member of an organization that is dedicated to developing leadership in Africa. But also a member of the Global Entrepreneurship Network and the African Development Bank. He has, however, been recognized as one of Forbes鈥� 鈥�30 under 30鈥� entrepreneurs and named one of the 鈥淭op 10 African Entrepreneurs鈥� by Forbes.

13. Dr. Ola Orekunrin (Nigeria) 鈥� Founder of Flying Doctors Nigeria

By NdaniTV –

Dr. Ola Orekunrin is a British- Nigerian doctor and entrepreneur. Flying Doctors Nigeria, a West African air ambulance service, was founded by her in 2007. After completing her medical training in the United Kingdom, Dr. Ola began her business in the health sector. When her company became successful, Forbes Magazine, CNN, and the BBC profiled her for her innovative medical work. As a result, she has become a role model for African entrepreneurs. Brown did, however, work briefly in the UK’s National Health Service after graduation. She was the founder and CEO of Flying Doctors Nigeria Ltd., West Africa’s first air-operated emergency medical services in Lagos, Nigeria, with training in aviation medicine. She belongs to the American College of Emergency Physicians.

14. Herman Mashaba (South Africa) 鈥� Founder of Black Like Me

By US Embassy South Africa –

Herman Mashaba is an African entrepreneur and former Mayor of Johannesburg, South Africa.  He is the founder and former executive chairman of Black Like Me, a leading South African hair care brand. He became famous as an entrepreneur when Black Like Me gained national attention in South Africa in the mid-1990s after being featured in a television commercial. After the success of his business, Mashaba started his political career in 2016 when he ran for the office of Mayor of Johannesburg. He was elected in 2016 and served until 2020. On Valentine’s Day in 1985, he founded Black Like Me with an R 30,000 loan from a friend, businessman Walter Dube. Additionally, Mashaba enjoys music as well. He revealed himself as a pianist after five years of secret lessons.

15. Mike Adenuga (Nigeria) 鈥� Founder of Globacom

Michael Adeniyi Agbolade Ishola Adenuga Jr is a Nigerian billionaire businessman who is Africa’s sixth richest person. Globacom, his company, is Nigeria’s second-largest telecom operator, with operations in Ghana and Benin. He is a shareholder in Equitorial Trust Bank and the oil exploration company Conoil. As of May 2021, Forbes estimated his net worth to be $6.2 billion. His hard work and determination have earned him respect as an African success story, after achieving his wealth. His companies have contributed significantly to the Nigerian economy, providing employment to thousands of people and helping to make Nigeria a major player in the global economy. At the age of 26, Adenuga made his first million dollars selling lace and distributing soft drinks.