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Boss Of The Week

Aliko Dangote: Standing Top Among World’s Black Billionaires

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By Eric Elezuo

Among the 28 black billionaires in the world, Nigeria’s business mogul and reference point to entrepreneurial ingenuity, Aliko Dangote remains at the top echelon, leading with a total worth of $13.5 billion, according to the newest publicly declared data.

For the President of the Dangote Group, Alhaji Aliko Dangote, and his multifaceted group, playing second fiddle has never been an option. Both the enterprise and the entrepreneur have maintained market leadership to the extent that Dangote himself has appropriated the richest man in Africa status to himself, and has hardworkingly sustained the tag for as long as anyone can remember.

Since 2014, when Forbes magazine named him the world’s 23rd billionaire, jumping 20 spots on the scale from his previous 43rd position among the elite club of the world’s richest people. Aliko Dangote has not looked back, winning back to back the accolade among African billionaires, and never slipping from the world ranking.

Again, as expected, the famous Forbes has proclaimed the soft spoken businessman as Africa’s richest man for the 12th time in a row; a proof that the name Dangote is synonymous with consistency. He is a businessman, who understands that no man rest on his oars if turnovers have to continue to turn over. With marked differentiation, he has demystified the business terrain, and proved that if it can be done, then it must done. His establishment of the humongous fertilizer and sugar plants and the ambitious refinery in Lekki, Lagos, Nigeria, are testimonies of the trajectory of one who knows his onions.

Worth $13.4 by the last Forbes ranking, which sustained him as the richest man in African for the 11th time, entrepreneur extraordinaire  has the following points to his name:

  • Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.
  • He owns 85% of publicly-traded Dangote Cement through a holding company.
  • Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.
  • After many years in development, Dangote’s fertilizer plant in Nigeria began operations in mid-2021.
  • Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.

The above and many has remained the factors that have made it easy for the billionaire to remain in the top echelon of world’s money men, and the supremo among African businessmen. Like wonder he is one of the few recipients of the GCON national honours reserved for top politicians of vice president ranking and top government appointees. He has never been any of the above.

In 2021 when his 3.0 million metric tonnes of Urea per annum Dangote Fertiliser Plant, sited at the Dangote Industries Free Zone, Ibeju Lekki, was commissioned. During his speech, at The Fertiliser Complex, which occupies 500 hectares, and built at a cost of $2.5 Billion, Dangote had the following to say in his much sought after humility:

“The commissioning of this Fertiliser Plant is historic. It marks the official opening of the largest Granulated Urea Fertiliser Complex in Africa. The new plant will make Nigeria self-sufficient in fertiliser production, with excess capacity to export to other markets in Africa and the rest of the world. Our products have already reached the markets some African countries, the USA, Brazil, India and Mexico.

“It is an ambitious developmental project, which will drastically reduce the level of unemployment and youth restiveness in this country, through generation of direct and indirect employment. Agriculture accounts for over 20 per cent of Nigeria’s GDP, and the country is a leading producer of various agricultural commodities. The sector has the potential of becoming the biggest source of income for our Nation, providing employment and raw materials for industries. However, low fertilizer usage has been a major reason for low productivity in the sector.

“It is common knowledge that non-availability of the product, in quantity and quality, rather than affordability, is the primary constraint to the use of fertilizer.

“Our goal is to make fertiliser available in sufficient quantities and quality for our teeming farmers assuring greater agricultural output. To help realise this potential, we are rolling out initiatives that will transform the agricultural sector, including extension services for small and medium scale farmers. We have also established well-equipped soil-testing laboratories to ensure that the appropriate fertiliser blends are applied to specific soil and/or crop types. This will boost productivity, enhancing output across the Nation.

“Dangote Fertiliser will partner with key stakeholders in the industry, including Farmer Associations, NPK Blenders, NGO/Development Partners and State Governments across Nigeria, who are committed to a sustainable approach to improving soil quality and farm yields.

“Our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of our dear country. This has also informed our desire to continue with our investment strategy, with a focus on driving import substitution, ensuring that we increase local production to achieve self-sufficiency, and even export excess production.”

He proved that his entrepreneurial skills are not just geared towards uplifting him as a person, but to create an enabling environment for the Nigeria youth and child to grow and development in an environment he can proudly co-own. His vision is practically for the greater good of the world, and Nigeria in particular.

Born in Kano in 1957, Dangote proudly shuttles between three wonderful tags as the richest man in Nigeria; the richest man in Africa and the richest Black man in the world. He has paid his dues, and mankind is the better for it.

Releasing impacts, Aliko Dangote Foundation (ADF), the private charitable foundation of Alhaji Aliko Dangote. Incorporated in 1994, as Dangote Foundation, is saddled with the mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. 20 years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The primary focus of ADF is child nutrition, with wraparound interventions centered on health, education and empowerment, and disaster relief. The Foundation also supports stand-alone projects with the potential for significant social impact.

The Foundation works with state and national governments and many highly reputable international and domestic charities, non-governmental organizations and international agencies to advance its humanitarian agenda.

In one of its biggest collaboration to date, Aliko Dangote Foundation started working in partnership with the Bill and Melinda Gates Foundation and key northern State Governments in Nigeria from 2013 to eradicate polio and strengthen routine immunization in Nigeria.

Worthy of praise is the fact that nearly a decade, the Foundation has spent over N7 Billion in the course of feeding, clothing and the general welfare of the Internally Displaced Persons in the Northeast.

To make his host communities feel at ease, and the impact of his presence, Dangote has embarked on an initiative to provide further support to improving educational systems in Ibeju-Lekki and Epe locality. The educational support initiative is a tripartite programme consisting of scholarship, capacity building for teachers and school infrastructure projects.

In addition, Scholarships have been awarded to 52 secondary school students whilst some financial support was provided to their parents and/or guardians. Tertiary students will be included in the next batch of the scheme.

Furthermore, about 100 teachers, principals and school administrators were trained in teaching techniques for the 21st century. After which they were monitored in class on how they were using the skills acquired.

There is hardly any sector that has not felt the milk of human kindness running through Aliko Dangote; the military, media, politicians, governments across boards and more.

Dangote is surely an asset to this world!

As at today, there is no space for slowing down for Dangote as he continues to trudge on, creating firsts after first for himself and for humanity. He is blessed with three wonderful daughters, who have followed the rewarding footprints of entrepreneurship, and is looking forward to hitting the richest man in the world status. And very soon too.

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Boss Of The Week

Martial Kpochan: Africa’s Entrepreneurial Pride

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By Eric Elezuo

Africa is a great land, and Africans are great and intelligent people, contributing more than their quota to the growth and development of world economy, sustainability and peace. This is a direct consequence of the untold efforts of the continent’s men and women of different class and creed, who are doing great things across the length and breadth of the continent and beyond. One of such indefatigable geniuses is the incredible Martial Kpochan, an African of Beniniose descent, who plies his enterprise across every available space in the universe. He majors in trade and investment, auditing and accounting among distinguished entrepreneurial endeavours.

Martial Kpochan image looms large, and speaks volumes in the financial and accounting world as he is reputed to be the brain behind the founding and establishment of the 10 Principles of Economy of Being, which has garnered a wide global recognition.

Born in Cotonou, Benin Republic, on June 30, 1981 to the family of Mr and Mrs Pierrot Kpochan, Martial as he is fondly known among family and friends, is an epitome of business solutions, initiatives and economic renewal, having invested over 20 years of his life in entrepreneurship, garnering experience in financial auditing, accounting expertise, and business and damage valuation. Martial Kpochan has, without equivocation, built a remarkable career rich in diverse experiences and deep expertise.

Martial’s professional career kickstarted in 2002, when he was absorbed at the audit firm, SACOR, in Paris, France. Afterwards, and with a backload of experience, he moved to Montreal, Canada, where he joined Picard Choronzey Inc.

In 2005, he returned to France and worked with BDO and DELOITTE groups in quick succession.

Budding with the zeal to further affect the world, Martial, in 2008, and driven by an entrepreneurial vision, desire to affect humanity, his country of birth and his country of residence, France, he founded Natray Consulting Group, a company he chairs till the present.

Among many of his larger than life academic and professional build-ups and accomplishments, Martial is certified in Public Expenditure and Financial Accountability (PEFA), a framework developed by the IMF and the World Bank for assessing public financial management.

He is also a statutory auditor at the Court of Appeal of Versailles, and his qualifications also include certifications in business and damage valuation, as well as degrees in accounting expertise and advanced accounting and financial studies. He is a member of the Order of Chartered Accountants of Benin, the Order of Chartered Accountants of France, and the South African Institute of Professional Accountants.

Additionally, Martial Kpochan has led numerous audit and financial expertise missions for prestigious companies, governments, and projects funded by international donors such as the World Bank and the European Union, positioning him as a recognized leader in his field.

Under his leadership, Natray Consulting Group has become a major international player with a significant presence in Africa and Europe. Martial Kpochan’s international experience spans several continents, with missions in France, Canada, Hong Kong, South Africa, West Africa, North Africa, and Central Africa. This exposure to diverse economic contexts has allowed him to develop great openness and a deep understanding of global financial dynamics, enhancing his ability to adapt to local specificities while maintaining a global vision.

In parallel with his career in finance, Martial Kpochan is passionate about humanist philosophy. This intellectual quest led him to found the Institute of Economic and Political Intelligence in 2012, followed by the creation of the Institute of Being, which he currently presides over. This institute aims to defend the public interest in the decision-making process.

In this capacity, he has published the “10 Principles of the Economy of Being,” which he actively promotes in Africa and internationally. Today, Martial Kpochan dedicates himself to the Institute of Being, where he continues to influence public decision-making by defending the general interest.

His dual approach, combining rigorous technical expertise with deep philosophical reflection, gives him a unique perspective on addressing the complex challenges facing contemporary societies. His vision and leadership position him as a key actor capable of making significant contributions to public governance and improving management practices on a global scale.

Aligned with his grand vision of the Economy of Being, he supports the ECRU ESSENCE project, which aims to create a production line using locally made fabric from Benin, bringing it to the forefront. This project could create more than 10,000 long-term jobs. Through his investment, the ecru fabric was showcased in its first fashion show during FESMMA 2024.

His commitment to democracy has led him to participate in two major conferences at the Vatican, one on education and democracy, and the other on democracy in a fragmented world. On these occasions, he had the opportunity to meet the Pope during two audiences.

His involvement and visionary approach have allowed him to meet the President of the Parliament of the Canton of Geneva and participate in a conference at the World Economic Forum.

Martial is an advocate for the dissemination of the “10 Principles of the Economy of Being.” He presented these principles at the Global Governance Fund, an ECOSOC NGO of the United Nations, as well as at the African Union Commission in Addis Ababa.

He also showcased these principles during Mandela Days, where he took part in a charity event distributing thousands of meals and blankets in Tsakhane.

A happily is married man, and wonderful father to his four lovely children, Martial dreams to see the adoption of a Universal Declaration of the Economy of Being, similar to the Universal Declaration of Human Rights.

For your steadfast commitment to the growth of African economy through down to earth Enterprises, you are our boss of the week. Congratulations sir!

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Boss Of The Week

Dr. Funmi Adewara: A Medical Entrepreneur Like No Other

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By Eric Elezuo

“Your dreams must exceed your current capacity to achieve them…you are enough, you can do it,” – Dr. Funmi Adewara 

Nigerians in the Diaspora have left nothing to chance in proving that the country is blessed with abundance of talents across diverse fields of human endeavours; entertainment, medicine, sports, academia and a whole lot more.

Among the categories of bring our pride home Nigerians is the beautiful and sophisticated Founder/Chief Executive Officer of Mobihealth International, Dr. Funmi Adewara, who prides herself as an accomplished medical technocrat, physician, entrepreneur, telehealth expert among a host of distinct profitable human engagements. It’s worthy of note that Adewara’s Mobihealth is not a run-off-the-mill health institution; it is a dedicated and specialized arm of medication and medical health delivery. She was once Forbes Woman African Technology and Innovation Award winner.

Dr. Adewara with President, AfDB, Adewunmi Adesina

Young vibrant and highly calculative, Dr. Adewara cuts across as the dual citizen of many ages, juxaposing medical disciplines of diverse times to create an all new medical development, acceptable for all times, and operational in this present dispensation.

A proud graduate of the University of Ibadan, where she studied Medicine, Dr. Adewara was born and brought up in Kaduna State before higher education brought her down to the west. She relocated to the United Kingdom after graduation to further her education at the University of Cambridge, where she earned a Master’s degree in Bioscience Enterprise.

Among a lot of things she is, within a brief spell of time, Dr. Funmi Adewara covets a British-Nigerian status, walks head held high as a Cambridge-trained Bioscience Entrepreneur, and is proud to tell every listening ear of her undeniable status of a globally recognized telehealth expert. Hers, in achievements, is not a fluke. She is a hard worker, and it is no accident that she is everything that she is today.

Her exceptional service delivery, inventive abilities, initiatives and dedication to assignments have bestowed on her recognitions and awards from A-list corners.

She is a multi-award-winning entrepreneur, and has an extensive background in medicine, pharmaceuticals, and business development. Her personal profile credited her with over 15 years of experience working within the UK’s National Health Service (NHS) and the pharmaceutical industry as a Drug Safety Physician.

For those, who must have harboured the question, why Mobihealth? It is of paramount importance to note that she was, and is still driven by passion for the transformation of healthcare in underserved communities.

Consequently, Dr. Adewara’s Mobihealth International, a company dedicated to solving critical healthcare challenges in Africa and beyond came to existence. Her leadership has seen Mobihealth develop comprehensive telehealth solutions that address issues like shortages of healthcare professionals, high treatment costs, and long-distance travel for patients.

Having partnered with the high and mighty in global business, she had received grants from nobles including the Bill & Melinda Gates Foundation, on which pedestal Mobihealth’s integrated Telehealth clinics are making strides towards achieving Universal Health Coverage, with a focus on primary healthcare centers (PHCs).

Dr. Adewara’s work has garnered international recognition, earning her numerous awards. She was one of seven global winners of the World Bank SDGs&Her 2020 Awards, selected from over 2,400 entries, and was also a winner of the Sanofi Africa-Tech Challenge in Paris in 2020. Under her visionary leadership, Mobihealth pioneered the first telehealth initiative for the Nigerian Air Force in 2021, marking a historic milestone in Africa.

Dr. Adewara is also a recipient of the African Female Tech Founders Award, which led to her invitation to the Africa-UK Investment Summit by former Prime Minister Boris Johnson in 2020. In 2023, she was named the winner of the Forbes Woman African Technology and Innovation Awards and became a top 50 finalist in Africa’s Business Heroes competition. Her entrepreneurial journey was also celebrated at the NASDAQ Entrepreneurial Milestone Maker Program, where she was showcased at New York’s Times Square in 2023.

 

With H.E Wemkele Mene, Secretary General, African Continental Free Trade Area Secretariat.

Dr. Funmi Adewara continues to be a leading voice in telemedicine, advocating technological solutions that improve healthcare access for all.

With her giant strides in the field of medicine, the accomplished CEO of Mobihealth International, has traced her way home to Nigeria, where she advocated the adoption of telemedicine in the Nigerian health sector.

She noted that it could help address 60 per cent of the medical issues facing Nigerians. This was during the two-day 2024 Africa Social Impact Summit held in Lagos, with the theme, ‘Reimagining Progress: A New Blueprint for Sustainable Growth in Africa’, and co-convened by the Sterling One Foundation, and the United Nations Nigeria.

Contributing her say during a panel session at the summit, Adewara stressed the urgent need for a national adoption of telemedicine in Nigeria, noting that patients do not need digital skills to access telemedicine services.

To her, telemedicine offers a transformative solution to Nigeria’s healthcare system in the immediate and long term, and could address 60 per cent of the medical issues facing the citizens, adding that it connects patients in remote areas with medical professionals, providing timely consultations, diagnoses, and treatments without the need for travelling.

With staff of FCTA

She informed that more key benefits of telemedicine adoption in the country abound, and they include increased access to health services, cost-effectiveness, improved health outcomes, enhanced data management, and education, among others.

In her words “With quicker access to medical expertise, patients can receive timely interventions, reduce the risk of complications, and improve overall health outcomes.

“Digital platforms facilitate better tracking and management of patient data, leading to more informed and effective healthcare decisions, adding that knowledge and skills can be facilitated through telehealth to address the skill gap and boost manpower,” she informed.

With Kenyan President H.E William Ruto during US Africa Business Forum, Washington DC 2023

She is obsessively committed to driving robust telemedicine adoption, especially for primary healthcare, and has not hesitated on seeking collaboration government agencies, healthcare providers, and private sector stakeholders.

Her goals are broad and inordinate, accommodating improvement of access to maternal and child health, reproductive health, health education, as well as reducing hospitalisation by 70 per cent, and making it cost-effective.

It is her diligence and marketing ability of sellable product and services that prompted Afreximbank to sign project preparation facility with Mobihealth to drive digital healthcare solutions across Africa.

The pact is expected to bolster the expansion of Mobihealth’s telemedicine services in Nigeria, and also assess the feasibility of establishing similar services in Egypt, Ghana, Kenya and Cote d’ Ivoire.

Under the terms of the agreement, Afreximbank will part-finance project preparatory activities that will leverage MobiHealth’s successfully integrated telemedicine proprietary platform, initially piloted in Nigeria, to the four additional countries. This initiative is expected to rapidly lead to the establishment of a network of telemedicine clinics across Africa, fully equipped with out-patient facilities. The project preparation facility of up to US$ 1.5 million is expected to advance the Project to bankability, whereupon this is expected to unlock further investments estimated at US$ 65 million.

It takes only an entrepreneur that knows her onions to land such magnificent advantages. It is very clear that she is practically existing to affect lives, irrespective of whose.

She noted that “The signing of this facility agreement marks yet another significant milestone in MobiHealth’s quest to proffer digital healthcare solutions across the continent. We are thrilled to have the support of Afreximbank, a pan-African multilateral financial institution with the scale and capacity to enable us to achieve this objective in a timely manner. Their involvement is a strong validation for our business model and I would like to laud Afreximbank, AIF and USTDA for their visionary leadership and steadfast commitment to support the provision of quality healthcare to African citizens.”

She has also partnered with the Federal Capital Territory Administration (FCTA) to expand access to quality healthcare, improved health facilities and to bring medical expertise closer to the people.

The entrepreneur is well traveled, and had interfaced with notable World Leaders in politics and business among others. Some of them are Dr Akinwumi Adesina
President, African Development Bank (AfDB); Kenyan President, H.E William Ruto, at the US Africa Business Forum, Washington DC 2023; H.E Wemkele Mene, Secretary General, African Continental Free Trade Area Secretariat, in addition to numerous congratulatory messages from notable World personalities and bodies including former Nigerian President, Muhammadu Buhari and Forbes.

ABOUT MOBIHEALTH

Mobihealth is a Nigerian subsidiary of Mobihealth International Ltd., a UK-domiciled telehealth provider. Mobihealth was founded by Dr. Funmi Adewara in 2017 and publicly rolled out its service offerings in 2020.

In late 2020, Dr. Adewara was recognized by the World Bank for her work with Mobihealth and the development of its digital healthcare platform with the “Her World Bank SDGs&Her (Sustainable Development Goals) Award 2020.” The award was a part of a virtual award event carried out by the World Bank, in partnership with UNDP, UN Women, and the Wharton School Zicklin Center that recognizes women entrepreneurs. From 2020 to 2021, Mobihealth’s subscriber base in Nigeria grew from less than 4,000 to more than 34,000, and revenue increased from $83,500 to $814,400.

Adewara is a distinguished family woman, and has been prolific and combining the home front with entrepreneurship,  and by dint of hard work and divine assessment, none has suffered neglect.

This is saying a hearty congratulations to greatness; congratulations Dr. Funmi Adewara for being a medical entrepreneur like no other.

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Boss Of The Week

The Consummate Entrepreneur, Kola Adesina

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By Eric Elezuo
His trajectory to the top is an enviable story of perseverance, focus, commitment and attention to details. He is a clear symbol of opportunity created, opportunity taken and opportunity adequately utilised. His name is Chief Kola Adesina, the Group Managing Director, Sahara Power Group, a leading international energy (power, oil and gas) and infrastructure conglomerate.Born on August 12, 1964, Kola Adesina, embodies the advantages of what education can do, taking his strides in academic excellence from day one. Even till the present, he is still pursuing the greater good of education, directly and indirectly.

An entrepreneur of international repute, the managing director of Sahara Group, former Chairman of Egbin Power Plc, and board chairman of Ikeja Electric, is a toast among the teeming number of Nigerian philanthropists. He basically stands out.

Adesina earned both his B.Sc degree in Insurance and M.Sc degree in Business from the prestigious University of Lagos. He furthered his education by obtaining executive programmes at Harvard Business School and The Wharton School of Advanced Management Programme.
Adesina’s steides into the world of the As began immediately after his undergraduate days as he joined Insurance industry to Kickstart a career that was to blossom to classical height. He later joined Sahara Group where he moved up the ladder due to his selling skills.
At Sahara Group, he led various projects which included the nationwide strategic management of the supply chain of Fuel to the Emergency Power Plant of the defunct National Electricity Power Authority (now Power Holding Company Nigeria Limited), the Majestic Oil delegation on the acquisition of the Sierra Leone Refinery and also managed the Crude Oil contract of the Group in Côte d’Ivoire where he also served as the Director of Infrastructure, responsible for the acquisition of strategic assets in Africa.He served as a member of the Presidential Committee inaugurated by President Jonathan on the Accelerated Expansion of the Electricity Infrastructure in Nigeria, which culminated in the unbundling of PHCN successor companies. He also chairs the board of Ikeja Electric.In 2022, he was crowned as Vanguard Private Sector Icon of the Year.

According to a narrative volunteered by his organisation, the billionaire industrialist is a consummate entrepreneur with experience that traverses the academia, finance, energy, trade and diplomacy. He’s a Director at Sahara Group, a leading international energy (power, oil and gas) and infrastructure conglomerate with operations in over 38 countries across Africa, Asia, Middle East and Europe.

Kola currently leads the vision of Sahara Power Group aimed at bringing energy to life by deploying diversified power sources to light up lives, businesses and sustainable interventions in Nigeria and across Africa. Kola specifically oversees the Group’s affiliates including Ikeja Electric, the largest privately owned power distribution business in South Saharan Africa (SSA), Egbin Power Plc – the largest thermal plant in SSA  (with 1,320MW installed capacity with ongoing expansion plans to increase the capacity over two-fold, providing a quarter of the total generating capacity in Nigeria) and First Independent Power Limited.

Kola combines his years of management and business diplomacy experience into creating and executing innovative strategies for governments across sub Saharan Africa in the energy sector. Kola is a much sought after resource person on energy related issues, especially the power sector in Africa and is also a frontline speaker at conferences across the globe.

He is passionate about empowering young people and takes great pride in mentoring youths to seek creative ways of galvanizing their energies for sustained excellence and productivity. Mr. Adesina is a pan-Africanist, a seasoned entrepreneur and avowed promoter of the Pan African Dream of regional integration and trade.

Am accomplished family man, Kola Adesina holds a B.SC (Insurance), M.SC. (Business), Masters in International Law and Diplomacy and is an Associate of the Chartered Institute of Insurance.

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