Also on the list is Nigerian billionaire, Folorunsho Alakija, who occupies the 87th spot. Okonjo-Iweala, who also recently received an honorary degree from Yale, is number 48 on the list.
Find their profiles and the full list below:
Ngozi Okonjo-Iweala:
The minister of finance for Nigeria, has helped the country's economy, the largest in Africa, grow an average of 6% (per annum) over three years.
She is credited with developing reform programs that helped improve governmental transparency and stabilizing the economy. Okonjo-Iweala is the first woman to be the finance minister and the foreign minister of the West African country with a GDP of $502 billion.
But the start of the year has been difficult for Nigeria. The country voted in former general Muhammadu Buhari as president, ousting long-time President Goodluck Jonathan, with the hope he will help fight against the local terrorist group Boko Haram.
Harvard- and M.I.T.-trained Okonjo-Iweala spent 21 years as a development economist at the World Bank.
Folorunsho Alakija:
The richest self-made woman in Africa and one of just two female billionaires on the continent. Folorunsho Alakija's first company was an upscale fashion label that catered to Nigeria's elite, including the wife of the former military president, Ibrahim Babangida.
This connection paid off: the president later gave Alakija's company a prospecting license for one of the most lucrative oil fields in Nigeria. The drop in oil prices has dented the fortune of Alakija, one of just two women billionaires in Africa.
Find the full list below:
Angela Merkel
Hillary Clinton
Melinda Gates
Janet Yellen
Mary Barra
Christine Lagarde
Dilma Rousseff
Sheryl Sandberg
Susan Wojcicki
Michelle Obama
Park Geun-hye
Oprah Winfrey
Ginni Rometty
Meg Whitman
Indra Nooyi
Cristina Fernández de Kirchner
Irene Rosenfeld
Ana Patricia Botín
Abigail Johnson
Marillyn Hewson
Beyoncé Knowles
Marissa Mayer
Helen Clark
Safra Catz
Angela Ahrendts
Ellen Kullman
Michelle Bachelet
Anna Wintour
Ursula Burns
Arundhati Bhattacharya
Sri Mulyani Indrawati
Ruth Porat
Lucy Peng
Loretta Lynch
Chanda Kochhar
Federica Mogherini
Gina Rinehart
Nancy Pelosi
Adena Friedman
Ewa Kopacz
Queen Elizabeth II
Sheikha Lubna Al Qasimi
Ho Ching
Laurene Powell Jobs
Renée James
Drew Gilpin Faust
Ertharin Cousin
Ngozi Okonjo-Iweala
Samantha Power
Ellen DeGeneres
Amy Hood
Bonnie Hammer
Mary Callahan Erdoes
Angelina Jolie
Beth Comstock
Phebe Novakovic
Sofía Vergara
Donna Langley
Sheikh Hasina Wajed
Katie Jacobs Stanton
Arianna Huffington
Margaret Chan
Mary Jo White
Taylor Swift
Rosalind Brewer
Nemat (Minouche) Shafik
Lubna S. Olayan
Peng Liyuan
Zhang Xin
Güler Sabanci
Elvira Nabiullina
Elizabeth Holmes
Tory Burch
Dana Walden
Diane von Furstenberg
Carol Meyrowitz
Mary Meeker
Solina Chau
Miuccia Prada
Katharine Viner
Shakira Mebarak
Yao Chen
Fabiola Gianotti
Padmasree Warrior
Kiran Mazumdar-Shaw
Kaci Kullmann Five
Folorunsho Alakija
Judy Faulkner
Patricia Harris
Gwynne Shotwell
Sara Blakely
Risa Lavizzo-Mourey
Shobhana Bhartia
Beth Brooke-Marciniak
Weili Dai
Ellen Johnson-Sirleaf
Raja Easa Al Gurg
Jenny Lee
Greta Van Susteren
Lee Boo-Jin
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