Friday, May 30, 2014

Folorunsho Alakija: A Woman of Her Own and For Others

Folorunsho Alakija is a Nigerian business tycoon dominating the fashion, printing, and oil industries. Ranked as one of the richest women in her country, Alakija is estimated to be worth $2.5 billion. Her career in business began in 1974 as executive secretary to Sijuade Enterprises before she moved to the First National Bank of Chicago. Alakija soon established her own tailoring company, Supreme Stitches, which rose to prominence in the industry in just a few years as Rose of Sharon House of Fashion gained popularity. Alakija also has Famfa Limited, which explored oil in Nigeria, and a joint venture with Star Deep Water Petroleum Limited.

Alakija also established a foundation known as the Rose of Sharon Foundation which empowered widows and orphans by providing business grants and scholarships. In 2013, the Nigerian government established the National Heritage Council and Endowment for the Arts, appointing Alakija as the vice-chairman. The council is in charge of protecting and conserving objects and places of heritage in Nigeria, ensuring that such objects and places are properly registered.

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