Table of Contents
Key Points
- Africa’s pharmaceutical moguls are expanding access to medicine, driving medical innovation, and reshaping healthcare infrastructure with billions in revenue.
- Business moguls like Patrick Soon-Shiong and Stephen Saad are leading advancements in drug manufacturing across Africa.
- From generics to oncology breakthroughs, these pharmaceutical moguls are setting new industry standards while making life-saving treatments more affordable.
Africa’s pharmaceutical industry is evolving, led by a new generation of business leaders reshaping access to medicine, advancing life-saving treatments, and expanding healthcare infrastructure. These industry giants have built pharmaceutical empires that generate billions in revenue while making healthcare more affordable and widely available.
From manufacturing essential drugs to transforming retail pharmacy networks, their impact is both economic and deeply personal—saving lives, improving healthcare outcomes, and driving medical innovation. As demand for quality healthcare grows and investments in research and development increase, Africa is emerging as a key player in the global pharmaceutical sector.
Among the most influential figures is Patrick Soon-Shiong, whose breakthroughs in cancer treatment, particularly with the widely used drug Abraxane, have redefined oncology care. Stephen Saad, the force behind Aspen Pharmacare, has built Africa’s largest pharmaceutical firm, navigating complex regulations and market challenges to establish a global presence.
Ivan and Lynette Saltzman have revolutionized pharmacy retail in South Africa with their Dis-Chem empire, while Gus Attridge and Lamia Tazi have expanded their pharmaceutical businesses with strategic growth and cutting-edge drug production.
Others, like Stellar Chinyelu Okoli and Fidelis Ayebae, have built successful generics businesses, making essential medications more affordable. Meanwhile, industry leaders such as Abdelmadjid Kerrar, Paul Dhanani, Kofi Nsiah-Poku, and Gregory Rockson are also shaping the future of healthcare with innovative solutions.
Billionaires.Africa highlights these pharmaceutical moguls, whose businesses not only create immense wealth but also play a crucial role in transforming Africa’s healthcare landscape. Their influence goes beyond profits—driving medical progress, improving accessibility, and setting new standards for the industry’s future.
Nationality: South Africa
Net Worth: $11.2 billion
Patrick Soon-Shiong, a South African-born billionaire, is a leading figure in global healthcare innovation. His fortune comes from strategic private investments and the sale of two pharmaceutical companies—APP Pharmaceuticals for $4.6 billion in 2008 and Abraxis BioScience for $2.8 billion in 2010. He developed Abraxane, a groundbreaking chemotherapy drug. He holds an 80 percent stake in ImmunityBio, valued at $1.82 billion, and owns the Los Angeles Times. He also has a 4.5 percent stake in the Los Angeles Lakers. Soon-Shiong continues to shape the healthcare industry through NantWorks LLC, a conglomerate managing public and private entities worth nearly $2 billion across Europe and Africa.
Nationality: South Africa
Net Worth: $1.2 billion
Stephen Saad co-founded Aspen Pharmacare, Africa’s largest pharmaceutical company. He holds a 12.8 percent stake in Aspen, valued at $503.06 million. Under his leadership, Aspen developed Africa’s first generic antiretroviral HIV drug and expanded into the infant formula market. He also oversees Aspen API, a leading supplier of active pharmaceutical ingredients. Saad is known for his philanthropy through The Stephen Saad Foundation, which provides HIV/AIDS treatment and supports education and healthcare initiatives. He is also the chairman of The Sharks, a top South African rugby team.
Nationality: South African
Net Worth: $500 million
Ivan Saltzman co-founded Dis-Chem Pharmacies in 1978 with his wife, Lynette. Today, Dis-Chem has over 300 retail stores and employs more than 20,000 professionals. Saltzman holds a 35.12 percent ownership stake, making him one of South Africa’s premier investors. Dis-Chem’s extensive network includes linked dispensaries, family clinics, wound care centers, and self-medication hubs, reinforcing its strong presence in the South African healthcare market.
Nationality: South African
Net Worth: $500 million
As co-founder of Dis-Chem Pharmacies, Lynette Saltzman has played a crucial role in the company’s expansion. With over 300 retail stores and a workforce exceeding 20,000, Dis-Chem is a leader in Africa’s healthcare sector. The Saltzmans' 35.12-percent stake in Dis-Chem continues to generate substantial dividends, solidifying their wealth. The company has a market capitalization of R28 billion ($1.52 billion), cementing Lynette Saltzman’s influence in the pharmaceutical industry.
Nationality: South African
Net Worth: $200 million
Gus Attridge co-founded Aspen Pharmacare, helping transform it into the world’s fifth-largest generic drugmaker. Aspen, valued at R76.7 billion ($4.18 billion), operates 26 manufacturing facilities across six continents. Attridge holds a 4.26-percent stake worth approximately $175 million. His leadership in Aspen Manufacturing and investments in Fine Chemicals Corporation and Aspen API have positioned him as a key player in Africa’s pharmaceutical landscape.
Nationality: Moroccan
Net Worth: $100 million
Lamia Tazi is the CEO and Chairperson of Sothema, Morocco’s leading pharmaceutical company. Sothema produces 60 million pharmaceutical units annually and operates 35 global laboratories. Tazi holds an 8.19 percent stake in Sothema, worth $65 million. In 2023, she launched Africa and the Middle East’s first Galenic development and clinical studies platform. She also leads Advanced Scientific Developments, West Afric Pharma, Azerys, Axess Pharma, and Leiden Pharma. Forbes ranked her 33rd on its 2025 100 Most Powerful Women list for her contributions to pharmaceutical innovation.
Nationality: Algerian
Net Worth: $90 million
Abdelmadjid Kerrar founded Biopharm in 1992, transforming it from a medicine distributor into one of Algeria’s largest pharmaceutical manufacturers. Biopharm now produces over 200 high-quality products and has diversified into Biopharm Distribution, Algérie Pharma, Biocare Laboratories, and the Kerrar Group. Kerrar’s shift to local production significantly reduced Algeria’s dependence on imports and boosted economic growth.
- Stellar Okoli
Nationality: Nigerian
Net Worth: $80 million
Stella Okoli founded Emzor Pharmaceuticals, a leading African manufacturer and distributor of medicines and medical supplies. Emzor produces over 140 pharmaceutical products, including analgesics, vitamins, antibiotics, antimalarials, and cardiovascular drugs. The company has grown into a multimillion-dollar enterprise, cementing Okoli’s legacy in Africa’s pharmaceutical industry.
Nationality: Nigerian
Net Worth: $20 million
Fidelis Ayebae founded Fidson Healthcare Plc in 1995, initially as a distributor of pharmaceutical products. By 2002, he established a manufacturing facility, and in 2005, Fidson became the first company in sub-Saharan Africa to produce antiretroviral (ARV) drugs. Today, Fidson operates four manufacturing facilities in Nigeria and is listed on the Nigerian Exchange. Ayebae and his family remain the company’s controlling shareholders, driving its continued growth in Africa’s pharmaceutical market.
- Kofi Nsiah-Poku
Nationality: Ghanaian
Net Worth: $10 million
Kofi Nsiah-Poku is the founder and CEO of Kinapharma, a leading Ghanaian pharmaceutical company. Established in 1998, Kinapharma manufactures over 150 drugs, including generics and branded products. Nsiah-Poku also founded M&G Pharmaceuticals, further strengthening West Africa’s pharmaceutical sector. His efforts have made medicine more accessible and affordable in the region.
