Q&A With Isabel dos Santos, Africa’s Richest Woman

Isabel dos Santos, 45, is a businesswoman and the daughter of Angola’s former president, Jose Eduardo dos Santos. Her investments and previous position as the chairwoman of Sonangol, an oil company in her home country of Angola, have made her one of the most successful women in Africa. Today, she is deeply involved with philanthropic work regarding the economic empowerment of women, and she encourages African entrepreneurs to give back to their home countries to increase their impact on the world economy. She has made it her life’s work to improve the lives, career opportunities, and economic situations of women throughout Africa, as women around the world continue to struggle and fight for increased opportunities and equal treatment.

As a result, dos Santos has become an outspoken figure and recognizable face in the fight for women’s rights, as well as her significant achievements in business that have made her one of the most respected businesspeople, not only in Africa, but throughout the globe.

“Creating opportunities and employment for women means betting on the progress of the communities themselves. When they thrive, women invest their income in the family, health, and education. I value this as a sense of duty, commitment, and dedication. The impact that women create around them is powerful and transformative.”

During this interview, she makes it clear that finding success in the male-dominated economy of Africa has been difficult. Each of her successes have been marred by prejudice, but these hardships have only encouraged her to invest in philanthropic pursuits that pave the way for the next generations of young African businesswomen.

In our interview, dos Santos answers five key questions that speak to her history, where she began her journey, and challenges she’s faced coming up in Africa—an area largely considered to still be a significantly male-dominated society.

Isabel Dos Santos also answered questions about opportunities for women in Africa who have a passion and interest in business, as well as the people in her life who have supported her throughout her journey and on her path to becoming one of Africa’s most successful businesspeople. While she acknowledges that it has not been an easy road, she discusses some of the inspiration and support she received that made it possible for her to achieve the level of success she has. Finally, dos Santos shares how she decides which causes to support with her time and means, while giving critical guidance to anyone looking to make a career out of business, either in Africa or around the globe.

What challenges have you faced in Africa’s male-dominated society?

Women employed at any level of Africa’s business world know well that discrimination and sexism are very real concerns. Even during the height of my career, my opinions are second-guessed, as if being a woman makes me incapable of negotiating deals on my own. This has resulted in every decision I make or idea that I put forth being questioned immediately, and it’s forced me to be increasingly creative and effective in the way that I assert my value, experience, and skills. This is a problem that many women around the world face on a regular basis. They know that they have extremely valuable opinions and perspectives, but they expend so much energy just to be heard that it leaves less time for them to simply buckle down and get to work. The result is that many women face a dual disadvantage as opposed to men, particularly when it comes to independent woman in business.

The challenge comes from finding ways to change the culture on a global level while also making individual efforts to affect change. This can be unsettling, because while many women feel a responsibility to speak out about this kind of treatment and behavior, they also know that doing so could lead to them becoming marginalized or even losing their positions. Challenging the established order is often not the fastest way to make friends and supportive business contacts, but that’s a dilemma that all women in the professional workplace must face. The problem is particularly bad in Africa and some other nations around the world.

At parties or in public, people often assume that I am a stay-at-home mother who must be married to a successful man. I often get the question, “What does your husband do?” and never “What line of work are you in?” This is an unfortunately common occurrence. Though disappointing, it isn’t as limiting as the prejudice businesswomen must endure when trying to raise capital for their businesses. Investors have far more confidence in projects overseen by men.

This means that female business owners must go even further to prove the efficacy of their businesses and ideas. They receive less early-stage funding, so they’re required to spend more of their time bootstrapping their businesses until they have such impressive numbers as to be undeniable. This is as opposed to many men, who are able to secure funding purely on the confidence in their ideas and the relationships they have within the industry. And the less woman-run businesses are supported, the less women there are in positions of success where they can pull up other women who are just making their way through the industry.

This all adds up to an environment that discourages half the population from obtaining the level of success they might otherwise be able to earn. I often compare it to a race where both participants have to travel the same distance to the finish line, but one is able to run while the other has to wade through waist-deep water. The destination is the same, but the obstacles that must be overcome to get there are not.

What opportunities exist for women in African countries to become successful businesswomen?

Despite the impairing prejudices at every level of the African business world, it is possible for women to become successful. It will take endurance, talent, and grit, but it can happen. I advise young women to think about their skills or passions. This is the best place to start, and it’s even better if you can couple them with Angola’s already untapped resources like tourism, minerals, agriculture, and manufacturing.

I firmly believe that the country of Africa has a very powerful built-in spirit of entrepreneurship and start up culture. However, that culture has long been allowed to be suppressed due to the unfair treatment and perception of women in business. This manifests itself in an often stagnant economy that has been robbed of half of the continent’s talent, knowledge, expertise, and innovative thinkers. Young women are routinely deprived of the right to quality education, barred from specific job opportunities simply because of their sex, and even blocked form pursuing their ambitions whenever they’re perceived as being ‘meant for men.’ This is truly a tragedy, as there is so much potential in Africa in terms of raw talent and geographically-specific economic opportunities that abound in the land’s rich landscape.

Agriculture is a particularly promising sector in Africa. Medium scale operations focusing on the production of produce, animal farming, and manufacturing are becoming more lucrative. The growing middle class in some African countries has also opened up opportunities to serve internal tourists. Africans with a disposable income are beginning to travel and stay at lodges and bed and breakfast hotels in the countryside. This gives small businesses an opportunity to cater to a newer growing market.

This has been a particularly encouraging trend, as its shown that more and more African people of middle- and higher-class income levels are willing to spend their money here within the continent as opposed to taking it to other nations whenever they travel. The more Africa can establish itself as a place rich with wonders not only for tourists from abroad but also from those within our borders who might not have ever fully explore the continent’s richness and diversity, the more our economic opportunities will continue to climb and improve.

But once again, there are major steps we’ll have to take first. I always say, ‘first the seed, then the future.’ We can’t look forward to these great leaps we might take until we address the major issues of today, like gender inequality and social justice issues related to it. We have to make steady, consistent growth each and every day if we ever hope to jump forward in the future. That commitment takes energy, and it’s not always the most thrilling and exciting path to take. But it’s what’s necessary for this land and the world if we want to find ourselves in a better place 50 years from now than we are today. We need to create new jobs, provide training for women and marginalized people, and break stereotypes that hold back not only women but our continent as a whole.

What men have supported you as a businesswoman? Do you have any advice for parents about raising strong women in Africa?

My father has always been supportive of me. Looking back, he treated me the same as my brothers. I was never told to act or speak a certain way nor was I instructed to go into a career that women traditionally went into. He stood behind all of my decisions and even encouraged me to enter computer science or become an astronaut. His motivation made me feel strong and competent enough to enroll in an engineering program and complete my education at a university.

This is where a large bit of the responsibility falls on men. Because until women truly receive equal opportunities and rights in our culture, we will still find ourselves in positions where our mentors and leaders are most often men. This means that men in those positions have a responsibility, indeed a duty, to be supportive in any way possible and provide the tools necessary for women to progress forward. Men cannot be afraid or hesitant to lift woman up for fear of losing their positions of power. They must recognize that when one of us reaches new heights, we all do. A rising tide lifts all ships, after all.

I was not raised in a household that told me to wait until I met a man to marry and support me. I was raised to understand that hard work and perseverance through adversity is how you make a name for yourself. Having that type of upbringing gave me an independence and ambition that few African women realize they have. I advise all parents to strive to raise their daughters this way – by instilling in them confidence and ambition, you are giving them the support they need to become successful businesswomen.

As parents, many people in Africa and the world are afraid of teaching their children boldness and independence. They worry that if they encourage their children, particularly women, to go boldly in the direction of their dreams, they are opening them up for the potential for failure. But we need women to be encouraged to pursue ambitious goals, otherwise they’ll never feel empowered to make something great of their lives. It’s also important because it shows them that they have a right to realize their dreams, and that they shouldn’t have to depend on a man or series of men to make it happen for them. The more we can encourage this kind of thinking and behavior, the better off we all will be.

My husband has also been deeply supportive of my career. He has always given me encouragement and advice, and when I need to work long hours or take business trips, I can always count on him to watch our children. I’ve always been grateful for his support and willingness to occupy a role other than the stereotypical, dated assumption of the father being the primary breadwinner and the mother staying at home with the children at all times. Obviously, I recognize that arrangements like ours should just as common as others, rather than a special exception, but I can still recognize and be grateful for his willingness to occupy that role in a world that doesn’t always reward men who do.

What actionable advice do you have for people who want to get started?

Leverage your pre-existing talents and knowledge. If you’re going into a field that you know or have past experience with then you have a competitive edge. I believe that goals are achieved when ambition is combined with skill and determination. Be willing to assess yourself and determine exactly what it is that you’re capable of doing best. If you have weaknesses in certain areas, develop them into strengths. This process can be uncomfortable at times, but it’s vital if you want to become a vital force in the career path that you choose.

Couple that commitment with passion and ambition and you’ll be ready to hit the ground running. It will help to create a five-year plan and try to find ways to raise the funds to get started. Be as detailed as possible and try to anticipate as many problems as you can. Solving them in advance can save you from making bad decisions with enduring consequences. Always look into the future, and never set limits on yourself. Believe that you’re capable of the most ambitious of your dreams, and then find ways to achieve them.

Keep in mind that this will take a lot of time. Time is an investment and focusing on one thing means you can’t focus on another. Try to not let your business aspirations get in the way of family. It’s inevitable that you will have to make some sacrifices but try your best to balance your attention between the things and people that matter.

Remember that there is no “right” path. What has worked for someone else may not be right for you. Your priorities are your own, as are your ambitions and skills. Just because you see others start families, or not start families, or start businesses, or rise up through existing companies, doesn’t mean that’s the journey that’s right for you. Believe in your path and you can’t go wrong.

How do you choose which causes to support?

I focus my support on philanthropies that in some way benefit society. This is so important to me that in all of my companies I have established divisions tasked with sponsoring charities and programs that promote improving society. We run many initiatives to improve social responsibility like supporting a children’s pediatric hospital, financing the fight against malaria, bringing clean water to poor communities, and hosting “fun days” for sick and impoverished children.

I also believe entrepreneurs are the key to bringing prosperity to the countries of Africa. I am deeply committed to supporting small businesses with big dreams, and I cherish the opportunities I’ve been given to give speeches to young women at universities and institutions around the world. Education, after all, is one of the most important features of society. Just as my father educated me to be independent, strong, and ambitious, so should we establish an education system that gives all of the young women of Africa the confidence they need to succeed.

Connect with Isabel dos Santos Online

• Personal Website
• Twitter
• Facebook
• Instagram
• YouTube