By Eric Elezuo
It is no secret that the most valuable recognition is granted by third-parties. For those who move an industry forward, third-party recognition is not only a nice-to-have, but also a yardstick of tangible social impact.
When Subomi Plumptre was recently announced as a member of Forbes Business Council, it came as a logical acknowledgement of her palpable achievements. Having garnered over 22 years of experience on boards and in corporate organisations where she led strategy and communications campaigns, Subomi has started making her mark in another industry – finance.
As a matter of fact, financial acumen has always been inherent to her. A long-tenured board member of Alder Consulting, the leading creative intelligence firm in Nigeria, Subomi grewAlder`s investment portfolio by 400% in two years without holding a formal position as a finance executive.
In her current position as the co-Founder & Director at Volition Capital Investments Limited, an SEC-licensed asset management company, she is helping the African middle class to create wealth. At Volition Blue LLC, which she also co-founded, she builds bridges between African & US investors and founders. In this interview, Subomi speaks about her transition to finance as well as her social mission to educate Africans and Diasporans on financial literacy.   
Boss Newspapers: Your transition into finance and your achievements in the industry are inspiring. Why did you choose to provide financial advisory and investment education to the middle class in Africa and the diaspora?
Subomi Plumptre: The middle class represents those who have made enough money for themselves and understand what it means to pay it forward. They know that by investing in someone else’s education or venture, they literally invest in the future — both for themselves and within their community. That is why for me, helping this demographic to create wealth feeds into a broader mission to impact society. A lot of global financial inclusion initiatives are typically targeted at the bottom of the pyramid. This is great. But we must not exclude the middle class who traditionally uplift economies by creating jobs.
Boss Newspapers: There are many prominent asset managers and other financial experts in the industry. Nowadays, there are many entrepreneurs who aspire to make life easier for Africans. What added value do you and your companies bring to the table?
Subomi Plumptre: In 2018, I created a new model for fund management and private equity using traditional African cooperatives. By pooling together funds from trusted networks, my co-founder and I created an accredited institutional fund with a seat at the table of global deals. The returns and in some cases, assets, were subsequently distributed back to the cooperatives. We have helped over 3,000 Africans save and invest about $30 million. That was our radical and innovative approach to financial inclusion. Today, we have many testimonials from clients who have funded their children’s tertiary education or purchased generational assets. In 2022, we received an SEC licence and our plan is to scale our model across Africa.
Boss Newspapers: Based on your profile, you are more than a financial expert, you are also a social entrepreneur. This means you are intentional about creating value beyond just your industry, but for the society at large. Is there anything special in your background that inspired you to become a social entrepreneur?
Subomi Plumptre: As far as I remember, I have always had a strong desire to develop others. I volunteered in various not-for-profit organisations; for instance the Nigeria Leadership Initiative where I served on the Governing Board.
Apart from my board experience, I have sponsored notable programs including education for out-of-school street kids through The Destiny Trust. These programs were life affirming for me, but I always noticed the same issue – the need for sustainable funding. I wanted to shift the narrative from philanthropy to social enterprise and that’s why I created my Foundation, Subomi Plumptre Trust to assist social entrepreneurs and also implement causes of my own.
Boss Newspapers: It is somehow difficult to understand what social entrepreneurs really do for those who are not into it. Could you please give any concrete example of your initiatives that can be classified as social entrepreneurship?
Subomi Plumptre: Through Volition Cap and Volition Blue, my co-founder and I fund businesses with social impact. For example, in 2022, Volition Blue invested in a US-based fund supporting underrepresented African founders who bring their innovations to the USA startup market. The same year, Volition Cap organised the first edition of the Africa Founders Immersion event in Dubai to open up growth and investment windows for African founders and investors. Our primary focus in delivering these initiatives was the lasting ecosystem impact that would outlive our companies.
At my foundation, the Subomi Plumptre Trust, I have trained about 10,000 individuals on financial literacy through my online courses. The idea is to teach people how to fish; in essence, to create their own wealth. My strong belief is that social entrepreneurship is a sustainable model for doing good and achieving results in society. That is why I wear two hats – business and social entrepreneurship.
Boss Newspapers: Thank you for your profound answers, Subomi. It has been a pleasure to learn about your business and how it serves the society.
Subomi Plumptre: It was my pleasure to share. Thank you for having me.
