Folorunsho Alakija and her siblings were taught to open up the shops early, handle customers properly, and manage to also manage the business’ finances. The Rose Of Sharon Foundation (RoSF) Launched on the 23rd of May 2008, The Rose Of Sharon Foundation was established to provide support for widows and orphans. She also appointed the company as a technical adviser on license exploration matters. However, she knew that working in the corporate world would never give her the kind of success she wanted. See Also: How This Egyptian Entrepreneur Amassed A Fortune Worth Over $5.5 Billion US Dollars. That left Famfa Oil with just a 20 percent stake in their investment. She is on the Advisory board of the Center for African Studies, Harvard. Folorunsho Alakija estimated net worth has no doubt made her the richest black woman in the world. You can also fill out our contact form. https://www.legit.ng/1128089-mrs-folorunsho-alakija-husband-children.html She is the primary sponsor of the Agbami Medical and Engineering Scholarship Scheme which records over 1000 beneficiaries annually. Choosing to make do with locally produced fabrics, she began searching for ideas to broaden her fashion interests. Mrs. Folorunsho (or Folorunso) Alakija is a Nigerian businesswoman and Nigeria's first female billionaire with a net worth of $2.5 billion (March 2014). Whenever Folorunsho Alakija was home for the holidays, she would wake up very early and head to her mother’s fashion shop. About. Dear Mrs Folorunsho Alakija, HILE Foundation is an initiative aim to “build tomorrow’s leaders today” by educating youths on issues related to their Health,Information and Technology,Law,Economics and Finance. She went to Our Ladies of Apostles in Lagos between 1955 and 1958 for her nursery school studies. Three years later, (September 1996), Alakija led her company into a joint venture contract with Star Deep Water Petroleum Limited. It got a point when local textile producers could no longer meet the level of demand. It is interesting to know that Mrs Folorunsho also has a foundation called the Rose of Sharon Foundation. The couple has completed 39 glorious years of marriage. For her primary school education, Folorunsho Alakija attended the Dinorben School for Girls at Hafodunos Hall, Wales. Aside from her many business ventures, Folorunso is also known for her philanthropic work through Rose of Sharon Foundation which she started in May of 2008. See Also: The Top 10 Richest People of All Time in History. Mrs Alakija, who is regarded as one of the richest black women in the world, founded the interdenominational ministry in 2004. Small business ideas, business plans, & tips for African entrepreneurs to start, run, & grow successful businesses. On Monday, 1st July, 2013, the Federal Government of Nigeria inaugurated the National Heritage Council and Endowment for the Arts and appointed Folorunsho Alakija as Vice-Chairman of the body. The vision of the charity Organisation is to help widows and orphans through scholarships and business grants. The industrialist also owns a foundation called the Rose of Sharon Foundation that helps widows and orphans through scholarships and business grants. Billionaire businesswoman Folorunsho Alakija and chancellor of Osun State University, has laid the foundation for the 250-bed teaching hospital she is donating to the university. Her connections to clients with political clout gave her the opening she needed to get started. 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While powerful and rich Nigerians with oil blocs’ allocations turned over their OPLs to foreign companies, Alakija kept hers. The most prominent member of the wider Alakija family is Folorunsho‘s nephew, Rotimi Alakija, better known by his stage name of DJ Xclusive. These areas are choosing resulting from their observed impacts on national development as they help to build a complete man. In May 1993, Alakija’s new company, Famfa Oil Limited applied for the allocation of oil prospecting license (OPL). The vision of the charity Organisation is to help widows and orphans through scholarships and business grants. Recognised as one of the champions of African Entrepreneurship, she was named Chief Matron of the Africa’s Young Entrepreneurs (AYE) NGO. The fashion icon’s leap into the oil and gas sector was an unprecedented move. Folorunsho Alakija gives back to the society through her foundation, Rose of Sharon Foundation. see #5 billion worth of Nigeria richest woman mansion folorunsho alakija (interior and exterior) This was where and when her love for fashion took off. On the 15th of July 1951, Folorunsho Alakija was born into the Ogbara family of Ikorodu, Lagos state, Nigeria. Mrs Alakija, who is regarded as one of the richest black women in the world, founded the interdenominational ministry in 2004. Discipline, hard work and dedication must be paid in full, and the life of every truly successful individual tells the full... How This Former Nigerian Accountant Built A Remarkably Success Corporate CareerTweetEmail TweetEmailWhat is the ultimate key to success? Alakija has donated a skills acquisition center to Yaba College of Technology, a higher educational institution located in Lagos. In 2014 and 2015, she was on Forbes’ list of Most Powerful Women in the World. So taking a bold risk, she quit her job and travelled to England to study fashion design. Good Contents Are Everywhere, But Here, We Deliver The Best of The Best.Please Hold on. In 1970, she travelled back to the U.K and got her degree in secretarial studies from Pitman’s Central College, London. Blessed with four sons and … Billionaire and richest woman in Africa, Mrs Folorunsho Alakija has disclosed that her family through Famfa Oil limited would be contributing N1 billion to support the fight against Coronavirus in Nigeria. It is interesting to know that Mrs Folorunsho also has a foundation called the Rose of Sharon Foundation. Launched on the 23rd of May 2008, The Rose Of Sharon Foundation was established to provide support for widows and orphans. These areas are choosing resulting from their observed impacts on national development as they help to build a complete man. She went on to pursue degrees in fashion design at the Central School of Fashion and the American College, London. Those docked alongside the siblings include; Onuwa David; Okoronkwo Chikadibia; Ehizibolo George, Chinyere Awanah. Their actions brought chaos. Famfa Oil's partners include Chevron and Petrobras. The disclosure came in a statement released on her Twitter account. Your email address will not be published. Her friend wasn’t interested in oil production, but Alakija saw it’s potential. Professional Business Plans For Your Success, View startuptipsdaily’s profile on Facebook, View startuptipdaily’s profile on Twitter, View startuptipsdaily’s profile on Instagram, View 112684232616485826000’s profile on Google+, How This Nigerian Fashion Designer Made Over $2.1 Billion US Dollars, Still Looking For Funds? Alakija was raised in a Muslim polygamous home, surrounded by 52 siblings and seven stepmothers. See Also: How This Algerian Teacher Built A Business Worth Over $4 Billion US Dollars. 2. The Rose of Sharon Foundation (RoSF) is an NGO focused on alleviating the plight of widows and orphans. Biography . Supreme Stitches became the place where one could get monogrammed or screen written wears. She is an acclaimed public speaker, a writer, and has also authored several inspirational books. Unsatisfied with 40% percent shares, it forcefully acquired another 10% stake. Biography & Success Story Of Folorunsho Alakija: Founder Of Famfa Oil. Folorunsho Alakija. But Folorunsho Alakija was a woman of power and strength. Alakija has succeeded in building her empire, marriage, and raising upstanding kids. See Also: How A Poor African Farm Boy Built A Business Worth Over $100 Million Dollars. Through her Rose of Sharon Foundation, Mrs. Alakija empowers widows and their children as well as orphans. But before Alakija and her associates could reap the benefits of their efforts, the Nigerian government seized a 40% stake in the company. The books have been launched and all the proceeds go to Rose of Sharon Foundation.“ Here are photos from Folorunsho Alakija’s 60th Birthday and 35th wedding anniversary celebration events. Folorunsho Alakija Age. Under the informal tutelage of her parents, she learned how to manage a business and make it successful through great work ethics. Mrs. Folorunsho Alakija has a foundation called the Rose of Sharon foundation that helps widows and orphans by empowering them through scholarships and business grants. Personal Life. With a burning desire to help the less privileged and needy in society, I joined the Busy Bees Women’s Society in 1993 through an invitation by Mrs. Modupe Sagoe, catering for many homeless children roaming the streets. Backed by her family, she went into battle with the Nigerian government. Her second corporate job was at the former First National Bank of Chicago now known as First City Monument Bank (FCMB). She worked there for about 18 months before going into the banking industry. Folorunsho Alakija is a Nigerian businesswoman, one of the richest African women and also one of the richest black women in the world. Folorunsho Alakija got her first job at Sijuade Enterprises in Lagos where she was a confidential secretary (1974). The 67-year-old Mogul is the Group Managing director of the Rose of Sharon Group and the Executive Chairman of Famfa Oil Limited. As a woman with an empire diversified in fashion, print, real estate and oil & gas, her resilience to fight and persist until she attained success is an inspiration to many people around the world. Supreme Stitches grew into a fashion powerhouse, influencing and reshaping the Nigerian outlook on female fashion and fashion in general. Mrs. Folorunso Alakija is a dynamic Nigerian businesswoman and philanthropist. Folorunsho and her partner, lawyer Modupe Alakija of the Adeyemo Alakija family, married in 1976. The family resides in Lagos and her children are involved in the family businesses. She is 68 years as of 2019 August 20th. She is the eighth child of her father and her mother’s second child. As at April 2011, there have been six empowerment programmes in Lagos State, Oyo State, Ogun State and Enugu State in Nigeria and spreading steadily Nationwide, provided support through empowerment, interest free loans and … Folorunsho Alakija Family. A year later, the application was approved, and OPL 216 changed to OML 127. On October 30, 2016 1:41 am In News by vanguard. Sadly, Folorunsho Alakija’s father was one of them. One of her clients was the former first lady, Maryam Babangida. But today, the business has grown from just a fashion business to the Rose of Sharon Group. — Folorunso Alakija (@alakijaofficial) November 9, 2020. And after serving two terms, she is now a lifelong Trustee of the association. The fact that she had no experience or expertise in the oil business did not deter her. After that, she returned to Nigeria for her secondary school education at the Muslim High school in Sagamu, Ogun state. The couple currently live in Lagos, Nigeria with their four sons and multiple grandchildren. I made you a billionaire, Obasanjo tells Folorunsho Alakija. When she was 7 years old, Folorunsho traveled to the United Kingdom for her primary school education. In a short time, the business turned into a national franchise with women of different backgrounds and social classes wearing her brand. At first, Folorunsho Alakija’s wish was to study law, but at that time, very few fathers were willing to fund their female child’s university education. Already, she had a flair for combining different fabrics and creating original designs. She has established The Rose of Sharon Foundation to empower orphans and widows through sustained opportunities. It also set up primary to tertiary school scholarship programs, granted interest-free business loans, and enabled widows and the youth with skill acquisition programs. She's the Executive Vice Chairman of Famfa Oil Limited (oil exploration and production company). And while many others migrated to seek better opportunities, they saw Africa’s potential and chose instead to remain. When it seemed that things were about to get better, the government struck another blow. In obedience to the word of … Folorunsho is married to Modupe Alakija, who is a lawyer. This consortium includes two print media companies and a real estate enterprise. Most Nigerian parents believed that there was no use in educating girls since they would get married and become another man’s property. Unfortunately, the... 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