Nigeria’s Richest Female, Folorunso Alakija, through her non governmental organisation, Flourish Africa, has taken it upon herself to empower scores of women in Nigeria. These women were selected from among the 501 female entrepreneurs who participated in the second edition of the Flourish Africa Business and Life Skill Training Programme. Not only were these women trained, they were also awarded a whopping sum of 200 million to share among themselves.
Who is Folorunso Alakija?
Folorunso Alakija, often referred to as the “Queen of Nigerian business,” is a remarkable figure in the world of entrepreneurship and philanthropy. Born on July 15, 1951, in Lagos, Nigeria, Alakija’s journey from a modest family background to becoming Nigeria’s richest female is a testament to her resilience, business acumen, and dedication.
Alakija’s early career began in the banking sector, where she worked as a secretary at the now-defunct International Merchant Bank of Nigeria. However, her ambition and passion for fashion led her to pursue a new path. She studied fashion design in the United Kingdom and returned to Nigeria to establish her own fashion label, Supreme Stitches. The company quickly gained recognition and success, catering to Nigeria’s elite and even securing prominent clients like the former First Lady of Nigeria, Maryam Babangida.
Though her fashion venture was lucrative, it was her foray into the oil industry that propelled her to immense wealth. In the early 1990s, Folorunso Alakija founded Famfa Oil Limited alongside her husband, Modupe Alakija. The company obtained an oil prospecting licence, leading to the discovery of oil reserves in Nigeria’s prolific Agbami offshore oilfield. This discovery significantly boosted her fortunes and earned her a prominent position among the wealthiest individuals in Africa.
With her newfound wealth, Alakija dedicated herself to philanthropy. She established the Rose of Sharon Foundation, a non-profit organisation committed to empowering widows and orphans through scholarships and various empowerment programs. The foundation has had a profound impact on the lives of numerous vulnerable individuals, providing them with opportunities for education and personal growth.
In addition to her philanthropic efforts, Folorunso Alakija is known for her advocacy for women’s rights and gender equality. She believes in empowering women to achieve their full potential, and she actively supports initiatives that promote women’s entrepreneurship and economic inclusion. According to Forbes, she was worth $1 billion dollars in 2020.
Folorunso Alakija’s remarkable success story, from a fashion designer to Nigeria’s richest female entrepreneur, serves as an inspiration to aspiring businesspeople, especially women, across the African continent and beyond. Her commitment to philanthropy and empowering others has solidified her status not only as a business tycoon but also as a compassionate and visionary leader dedicated to making a positive impact in her community and beyond.
About Flourish Africa
Flourish Africa is a visionary platform founded by Nigerian entrepreneur and philanthropist, Folorunso Alakija. With a focus on empowering and inspiring women across Africa, the initiative provides a nurturing community where women can connect, learn, and grow. Flourish Africa offers various resources, including mentorship programs, online courses, and networking opportunities, aiming to equip women with the skills and knowledge needed to excel in their personal and professional lives.
Through this transformative platform, Folorunso Alakija continues to champion gender equality and create a positive impact on the lives of countless women, fostering a brighter future for Africa.