5 Most powerful CEOs in Africa (2024)

The political, economic, industrial and technological landscape in Africa is changing at an astronomical rate. This is due to the giant strides of visionary leaders and some of the most powerful chief executive officers on the continent. 

These CEOs are driving growth in their respective industries and are also going beyond the limits of innovation, industrialization and finances.

One thing that is unique about them is their desire to change the African narrative, solve the continent’s challenges, and drive sustainable growth and development. They have this strong drive to put Africa on the global stage, and to see it rank as one of the world’s leading economies.

This article talks about some of these CEOs, their vision and their contribution to the development of Africa as a continent.

1. Aliko Dangote: Chief executive officer of Dangote Group (Nigeria)

Aliko Dangote is the president and chief executive officer of the Dangote Group, the largest conglomerate in West Africa. Dangote Group is currently in seventeen African countries and is a market leader in cement production on the continent. Dangote Cement Plc is the largest listed company in West Africa and the first Nigerian company to join the Forbes Global 2000 Companies list.

Dangote’s contribution as a chief executive officer and a business mogul stretches beyond just the cement company. He has built a 20 billion dollar refinery in Lagos, which is the largest petrochemical plant in Africa. 

The refinery is expected to produce about six hundred and fifty thousand barrels of oil per day. By estimate, this will make Nigeria a self-sufficient country in refined oil products and simultaneously make her an exporter of refined fuel.

Dangote has a strong inclination to see Africa become self-reliant and become an independent continent in terms of industrialization. He believes that the continent must move away from depending on importations and begin to build a local base for products and services.

He has a pragmatic approach to solving the continent’s economic problems and has strong faith in the prosperity of Africa. This has made him an influential business leader in Africa and the world at large.

2. Abdulsamad Rabiu: Chief executive officer of BUA Group (Nigeria)

Alhaji Abdulsamad Rabiu is a renowned Nigerian businessman from Kano. He founded BUA Group in 1988 and serves as its Chairman of the Board and Chief Executive Officer. BUA group is now one of the most important diversified groups in Nigeria, active in food (sugar and oil) and infrastructures (cement, ports, real estate).

In 2016, he divested its flour and pasta assets to Olam. Abdulsamad Rabiu had his early education at Federal Government College, Kano after he proceeded to the United States to study Economics at the Capital University Columbus, Ohio, United States of America.

Rabiu’s vision is to foster a self-reliant Nigeria and, by extension, a more industrialized Africa. He believes that Africa’s future depends on its ability to develop local industries and reduce its dependence on imports.

His focus on infrastructure development and industrialization is aimed at creating sustainable economic growth that benefits not only Nigeria but the entire region. Rabiu is a strong advocate for African businesses investing in Africa,  he believes that Africa’s challenges must be solved from within.

3. Strive Masiyiwa: Chief executive officer of Econet Wireless (Zimbabwe)

Over two decades ago, Strive Masiyiwa took the Zimbabwean government to court in a gruelling five-year legal battle. Masiyiwa had been planning to launch his own mobile telecoms company, but the government, which claimed it held an exclusive monopoly to manage and operate telecommunications in Zimbabwe, was desperately trying to thwart his ambitions. After the High Court ruled in favour of Masiyiwa, the Zimbabwean tycoon went on to build Econet Wireless, a leading Pan-African mobile telecoms company with operations across Africa, the U.K. and New Zealand.

EcoCash for example allows millions of people in unreachable areas to send and receive money, pay bills, and access financial products and services through their mobile phones. 

This new technology has helped close the financial inclusion gap in nations with limited financial and banking infrastructure.

Masiyiwa’s vision is for an Africa where technological advancement and innovation become a means for uplifting Africa’s poorest and most vulnerable populations.

4. Peter Ndegwa: Chief executive of Safaricom (Kenya)

Peter is the chief executive officer of Safaricom PLC, a leading communications company in Africa. Safaricom is also the pioneer of M-PESA, the world’s most developed payment system.

Peter joined Safaricom on April 1st, 2020. He is an experienced board-level leader with a wealth of experience in General Management, Commercial and Business Strategy, Sales and Finance Operations, having spent over 25 years in various roles within the Financial Services and Fast-Moving Consumer Goods (FMCG) sectors in Africa and Europe.

As a Chief Executive in several markets within the Diageo Group, Peter demonstrated the ability to transform businesses and organizations to deliver superior results. He has a real passion for delivering value to customers (with his principle of customer first), investing in talent, and getting things done.

Ndegwa’s vision for Safaricom is centred on diversification and digital innovation. He aims to turn Safaricom into a platform that goes beyond telecommunications, offering a range of services that improve the lives of Africans. His focus on health tech and e-commerce reflects his belief that technology can be a force for social good. 

He is also working tirelessly to expand Safaricom’s reach beyond Kenya, to transform the company into a world-class company 

5. Ralph Mupita: Chief executive officer of MTN Group (South Africa)

Ralph Mupita is the Group President and CEO of MTN Group, a position he has held since the 1st of September 2020, having recently served as the MTN Group’s Chief Financial Officer since April 2017.

Ralph is a seasoned business leader with experience in engineering, construction, financial services and telecommunications. Since joining MTN, Ralph has played a pivotal role in strengthening the Group’s financial position, strategy formulation and successful listing of the MTN Ghana, Nigeria, Rwanda and Uganda subsidiaries, as well as leading the execution of the current MTN Group strategy, Ambition 2025.

Mupita’s vision for MTN is one of digital transformation and financial inclusion. He believes that affordable internet access and digital financial services are key to Africa’s future prosperity. Mupita has championed initiatives aimed at bringing the benefits of technology to people who have historically been left behind by the digital revolution. His vision aligns with Africa’s broader push toward digital innovation and economic inclusion, positioning MTN as a leader in Africa’s ongoing technological transformation.

Conclusion

These chief executive officers are the real heroes of Africa, they know the potential inherent in Africa and are ready to explore every opportunity to put Africa on the world map.

Their contribution spans telecommunications, promoting indigenous and localized production and also boosting financial inclusion.

 Each of them has a unique vision for a self-reliant, innovative, and prosperous Africa, and their leadership will continue to shape the continent’s future for years to come.