FolorunshoAlakija is a perfect example of a woman who has grown her wealth through various investments. In addition to her success in the oil industry, Alakija has also made savvy investments in real estate, agriculture, and finance. 

Her story is a testament to the power of investing and perseverance. By taking calculated risks and making smart financial decisions, she has built a successful empire that has made her one of the wealthiest women in Africa.

If that leaves you inspired to do more investing this year in a bid to scale up your finances, here are some areas to consider:

Real estate

According to www.businessdayng.com, women in Nigeria own less than 10 percent of the real estate assets, highlighting the need for more women to invest in property ownership. Owning rental properties can provide a passive source of income and the potential for long-term appreciation.

Stocks and mutual funds

Another wise investment option for long term wealth creation and retention is investing in stocks and mutual funds. While the stock market can appear complex at first, with some dedication and willingness to learn, anyone can gain understanding of it.

The good news is that there are several platforms, articles, and podcasts that can help you gain a better understanding so be sure to do your research to find some of them.

Angel Investing

Entrepreneurship is increasingly becoming a female-driven pursuit, with more female entrepreneurs owning startups and seeking investments to scale up. If you are financially stable, you may consider funding these startups as an angel investor. Investing in startups can be risky, but it can also yield high returns if the company succeeds.

It is important to invest in startups that align with your values or support female-led startups to promote women entrepreneurship.

Insurance

In Africa, many thriving women are embracing the concept of investing in life insurance, not in anticipation of their death, but to ensure the financial security of their loved ones in the event of their retirement, inability to work, or passing.

Investing in life insurance is essential for women to prioritize the physical and financial well-being of their families and loved ones.