Africa.Com has released the 3rd edition of its annual Africa.com Definitive List of Women CEOs⏤ a data-driven list of 93 women running big businesses on the African continent.
The data-driven list is built on data provided by Bloomberg.
Launched in 2010, Africa.com is a media holding company with an extensive array of platforms that reach a global audience interested in African content and community.
“This year’s list of 93 women represents 17 countries who have qualified based on either large-scale revenue or large-scale market capitalisation. The list includes 40 women from South Africa, 12 from Nigeria, and 6 from Egypt, Ghana and Kenya respectively,” said Teresa Clarke, Chair of Africa.com.
Africa.com analysed 2,020 companies listed on the 24 African stock exchanges. Of the 2,020 companies, Africa.com screened for those companies with revenue of USD100 million or more, or a market cap of USD150 million or more, which yielded a list of 787 companies.
The public websites of all 787 companies were examined to identify female C-suite executives. The team then researched each woman to determine those who have the title of Chief Executive Officer or Managing Director or President and conducted a review to confirm that these executives have a bottom line, profit and loss responsibility for the companies. This resulted in 40 women CEOs in Group 1.
The methodology for Group 2 is identical to the methodology for Group 1, except that the entities evaluated were the divisions of the 787 companies, such that the divisions themselves have standalone revenue of USD100 million or more. The women running these divisions had to have a title that demonstrates that they are the chief executive with profit and loss responsibility for the division. This analysis yielded 28 women division heads.
Group 3 started with an analysis of global corporations with revenue over USD10 billion USD that have operations in one or more countries on the African continent. The regional heads of these companies were analysed to identify women executives for an African region or an African country, with profit and loss responsibility for the country or region. This analysis yielded 25 women. Women in this group are ranked by prioritizing those who run the African region ahead of those who run a single African country.
The three groups make up the final Definitive List of 93 women that make up the 2023 Africa.com and Standard Bank Group Definitive List of Women CEOs.
Top on the list, Natascha Viljoen, CEO, Anglo American Plc (revenue: USD41.6 billion) followed by Nompumelelo Zikalala, CEO, Kumba Iron Ore Ltd (revenue: USD6.9 billion); Mpumi Madisa, CEO, Bidvest Group (revenue: USD6.6 billion); Bertina Engelbrecht, CEO, Clicks Group Ltd (revenue: USD2.6 billion) and Dr Nombasa Tsengwa, CEO, Exxaro (revenue: USD2.2 billion).
Click here for the full list: https://thedefinitivelist.africa.com/2023-definitive-list/
The heavily South Africa and Nigeria-dominated list of 93 featured 8 female executives from East Africa- namely Kenya, Uganda, Tanzania and Rwanda.
#8
Jane Karuku
Group Managing Director & CEO
East African Breweries Ltd
Nairobi Stock Exchange
Revenue: USD970 million
Kenya
#13
Ruth Zaipuna
Chief Executive Officer
NMB Bank Plc,
Dar es Salaam Stock Exchange
Revenue: USD485 million
Tanzania
#14
Nasim Devji
Group CEO & Managing Director
Diamond Trust
Nairobi Stock Exchange
Revenue: USD370 million
Kenya
#21
Anne Juuko
Chief Executive
Stanbic Bank Uganda
Uganda Securities Exchange
USD267 million
Uganda
#24
Diane Karusisi
Chief Executive Officer
BK Group Plc
Rwanda Stock Exchange
Revenue: USD218 million
Rwanda
#28
Mapula Bodibe
Chief Executive Officer
MTN Rwandacell Plc
Rwanda Stock Exchange
Revenue: USD187 million
Rwanda
#68
Annastacia Kimtai
Managing Director
KCB Bank Kenya Ltd
Nairobi Stock Exchange
Revenue: USD123 million
Kenya
#76
Brenda Mbathi
President
GE East Africa
New York Stock Exchange
Revenue: USD76.5 billion
Kenya
The 8 East African women CEOs are:
Kenya’s Jane Karuku, the Group Managing Director & CEO of East African Breweries Ltd (Revenue: USD970 million) in the No.8 spot; Tanzania’s Ruth Zaipuna, the Chief Executive Officer, NMB Bank Plc, in the No.13 spot and Kenya’s Nasim Devji, the Group CEO & Managing Director of Diamond Trust Bank (Revenue: USD370 million) in the 14th spot.
Uganda’s Anne Juuko, the Chief Executive of Stanbic Bank Uganda (Revenue: USD267 million) in the 21st spot while Rwanda’s Diane Karusisi, the Chief Executive Officer of BK Group Plc (Revenue: USD218 million) is in the 24th spot and Macula Bodibe, the Chief Executive Officer, MTN Rwandacell Plc (Revenue: USD187 million) is in the 28th spot.
Stanbic Bank’s Anne Juuko only Ugandan on Africa.com’s 2023 List
Stanbic Bank Chief Executive, Anne Juuko is the only Ugandan named on the Africa.com 2023 Definitive List of Women CEOs.
Commenting on the list, Anne Juuko said, “It’s such an honour to be recognized alongside other celebrated women leaders on our continent, for the third time in a row. It’s an honour because Uganda has hundreds of brilliant, hardworking women who are breaking the proverbial glass ceiling, every day, in their respective fields of practice. Many of them, I know personally, as they are my colleagues at work and in the financial services sector where I have been active for the last two decades. So, allow me to say that this recognition is not mine alone but one that I wish to accept, on behalf of my fellow women at Stanbic Uganda with whom we give our very best, daily, to make a difference in our country and also give the African girl child the confidence and reason to believe that whatever they seek to become—it can be.”
However, the list is missing such key executives as MTN Uganda’s Sylvia Mulinge whose company grossed USD611.8 million in gross revenue and netted USD108.7 million in profit.