Meet Folorunsho Alakija
Folorunsho Alakija isn’t your everyday entrepreneur. She’s the woman who broke boundaries and redefined what’s possible for African women in business. Rising from a middle-class background, Alakija has built an empire that spans oil, fashion, and real estate, positioning her as one of the richest women in Africa. But her journey to success wasn’t paved with gold—it was filled with determination, courage, and an unshakable belief that she could achieve anything she set her mind to.
Born in Lagos in 1951, Alakija was the daughter of a seamstress and a school principal. As a young girl, she showed early signs of ambition. Her parents sent her to school in the United Kingdom when she was only seven, hoping she would receive a world-class education. This experience opened her eyes to the wider world, fueling her desire to make a mark. Returning to Nigeria as a young woman, she started her career in banking—a male-dominated field where few women dared to tread.
Despite being a trailblazer in banking, Alakija wasn’t satisfied. She had a deep love for fashion, so she took a leap of faith and left the corporate world to start her own fashion label, Supreme Stitches. Over time, Supreme Stitches evolved into Rose of Sharon, a brand known for its unique designs that incorporated African fabrics with a modern twist. Her fashion career brought her into the spotlight and earned her respect as one of Nigeria’s top designers, even becoming the official designer for many high-profile figures.
But Alakija’s ambitions didn’t end there. She ventured into the oil industry, where she faced her greatest challenges—and achieved her biggest triumphs. In the early 1990s, she obtained an oil prospecting license, a decision that would change her life. This license allowed her company, Famfa Oil, to explore and extract oil from a particular oil block off Nigeria’s coast. When oil was discovered there, she faced opposition from major corporations and government agencies who wanted control of the oil field. Alakija fought back, engaging in a legal battle that lasted over a decade. Her resilience paid off, and she eventually won the rights to her oil block, securing a fortune that established her as one of the wealthiest women in the world.
She is not only known for her business ventures. Alakija has also made her mark as a philanthropist. Through the Rose of Sharon Foundation, she supports widows and orphans across Nigeria, providing them with financial assistance, scholarships, and vocational training. Her dedication to giving back has earned her admiration and respect, as she uses her wealth to empower others, especially women and children.
Folorunsho Alakija’s journey is nothing short of inspiring. She has overcome stereotypes, shattered glass ceilings, and proved that African women can compete—and succeed—in the global business arena. Her story is one of resilience, vision, and purpose. Alakija is far from just a business guru, she is a role model, a philanthropist, and a beacon of hope for many across Africa. She reminds us that boundaries are meant to be broken, and that success is achievable if you have the courage to pursue your dreams.