The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has been named in the 2023 “World’s Most Powerful Women” on Forbes.
Forbes, a renowned international business magazine, unveiled its annual list of the most powerful women in the world on Tuesday, with Okonjo-Iweala claiming the 87th spot.
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This is the second consecutive year that Okonjo-Iweala has been ranked as the most powerful woman in the world. She was also ranked number 91 on Forbes’ World’s 100 Most Powerful Women list in 2022.
Okonjo-Iweala is an economist and international development professional with over 30 years of experience working in Asia, Africa, Europe, Latin America, and North America. In March 2021, she became the first woman and African to serve as Director-General of the WTO.
As Director-General of the WTO, Okonjo-Iweala has been praised for her leadership in addressing a number of challenges facing the global trading system, including the COVID-19 pandemic, the war in Ukraine, and the rise of trade protectionism.
She has also been a strong advocate for the use of trade to lift developing countries out of poverty and help them achieve sustainable development.
Earlier in her career, Okonjo-Iweala had two terms as Nigeria’s Finance Minister, from 2003–2006 and 2011–2015; she also briefly acted as Foreign Minister in 2006.
The Forbes’ Most Powerful Women list is based on a number of factors, including wealth, influence, and impact.
“As ever, the 2023 Power List was determined by four main metrics: money, media, impact, and spheres of influence. For political leaders, we weighed gross domestic products and populations; for corporate chiefs, revenues, valuations, and employee counts were critical. Media mentions and social reach were analysed for all. The result: 100 women who are shaping the policies, products, and political fights that define our world,” Forbes stated on its site.
Okonjo-Iweala was ranked ahead of a number of other prominent African women, including South African businesswoman Mpumi Madisa, Tanzanian President Samia Suluhu Hassan, and Nigerian media mogul Mo Abudu.
The title of most powerful woman in the world for 2023 was awarded to the President of the European Commission, Ursula von der Leyen, who was recognised for impactful policy and budgetary decisions that have a significant impact on the lives of 450 million people across Europe.
The European Central Bank President, Christine Lagarde, claimed the second position, steering Europe’s monetary policy during a period of elevated inflation.
U.S. Vice President Kamala Harris secured the third position, with Italian Prime Minister Giorgia Meloni following closely in the fourth spot.