At 63 years, Folorunsho Alakija is Africa’s woman billionaire and one of the few richest making remarkable strides in the oil and gas sector, printing and other business concerns. She speaks with Yetunde Oladeinde about her passion, the initial challenges, early life and things which made it easy for her moving up the ladder of recognition.
WHAT would you describe as the turning point in your life?
The thing I can call a turning point in my life, which I did not realise then was when, at the age of seven years, my parents sent me to England to study. I didn’t realise that it was something that was going to change my future. I didn’t realise that this was going to be a turning point in my life and as I look back now, many years after even though they are dead now (at ages 95 and 92). About five years ago, they gave me something to start on, something I could look back at, something that opened my eyes and lead me to a better future.
Let’s talk about one or two memorable moments as an entrepreneur
Before I went into fashion, I was not yet in the Lord. However, I sat down and decided that I needed to decide on a career path that I would not regret; a career that I would enjoy, not one that would make me upset, unhappy, dodgy and would not make me feel like going to work when I wake up. Every time I thought of fashion, I was eager to go to work. I just love it and I still do.
Despite the fact that I left sewing about 13 years ago, I still love it. That was when I was fifty and I would be 63 years in July this year. I looked inwards, I looked at my spirits, and I looked at the talents that God had given me. I had grace, even if you had made the mistake of not asking God, if you made use of the grace He gave you then you would be okay. If you look back at the grace He gave you, then you would do it with ease. You would be struggling if you don’t have the grace. You would be struggling while Bisi, who has grace, would make money with ease. So, I believe that I took the right step at the time that I did and the rest is history.
What were some of the initial challenges you faced?
Some of the challenges had to do with getting clients to recognise the fact that we were on ground. But the minute they began to see the quality of our print, they themselves began to advertise Digital Reality. They are the best form of advert; seeing is believing. If someone is speaking on your behalf and they have tasted it, tested it and you have been a part of it, so people who they tell would tend to believe than the adverts that you place yourself. They are your walking advert.
What gives you joy at the moment?
Being able to rebrand Digital Reality and open the new purpose-built edifice; this twin print facility houses are everything you can think of in terms of printing. It was through His grace and favour, because He gave me the leading in 2006 to set up a print factory. I thank God that He called me and gave me the grace to walk along that line and I obeyed that calling.
Not only that, He facilitated it so that I would be able to do everything that I needed to get to this point through the help of the chairman, the directors and staff who have been loyal and dedicated . They have worked and toiled daily ever since we started; they have been solidly behind the company and everything Digital Reality stands for.
As the richest woman in Africa, are you rebranding to make more money?
There is no one that doesn’t need money. I didn’t confirm that; you did. I don’t know what anyone else has got. So you are the one saying that to me and from what He has given me, I give God the glory. To answer your question, I would say that everybody needs money. No matter the amount of money God gives you, you can only sleep on one bed; you can only sleep under one roof. So God expects us to share whatever He has given us with those in need. So, I try to do that with all my heart as He calls, as He leads, directs and He opens those doors and shows me where to go to do His work.
So it is absolutely necessary for one to continue to work. He says those who do not work, should not eat. It also gives one the opportunity to hire people to work because there is so much unemployment out there. He affords me the grace and gives me the opportunity to put food on their table as well as help them to be breadwinners of their family.
Accessing credit has always been a problem for female entrepreneurs. How can they overcome this problem?
That is the reason why those of us who have gone a step further must advocate for other women. I know that the government can do something about this. Some banks have also been helping women in their businesses. A number of banks have helped women in setting up cottage industries and all that. Government must do more. If you look at the population, all over the world, you would find that women constitute 50 per cent of the world population including Africa. So, if women are not given the opportunities they deserve to grow the country, the country would be losing money.
If you had to advise Nigerian women, especially female entrepreneurs, what would you tell them?
I would tell them that before they go into any type of business they must pray and ask God. Trying to do it their way and then coming to ask God to put His rubber stamp on it is wrong. You must ask God where He is leading you, where he wants you to be. You must ask where it is exactly and how I should go about it.
Even in the mundane things like the slogan for the company, ‘Awesome images,’ God gave me. He gave me the scripture and I looked for it and found it. He expects us to be hard working, He expects us to use wisdom, and He expects us to be passionate about what we are doing. He also expects us to represent Him well and He expects us to do things according to His leading. So, don’t say that because Jane, Bisi or Ngozi is doing it, then I am going to do the same. The way God called Ngozi and Bisi may not be the way He called you. He opens the doors.
Over the years, you have been reaching out to widows in different parts of the country. Why did you single them out?
God called me and told me to reach out to them. I keep stretching my hands to people that come from left, right and centre and wherever, out of the passion I had in my heart. So, I asked God what He wanted me to do in this area and the scripture that came my way here was in James 21 vs 27. I rushed to my bible and I looked it and saw that He wanted me to show love and affection towards widows and orphans.
Not just to go knocking on their doors alone but to reach out to them through counselling, motivation and more. I was also advised to show them how to fish and not just give them fish. This way they would be able to stand on their feet and this would give them confidence. Confidence to do things on their own, confidence to help their children and confidence to say that I have been there, this is where I am today. I am happy because many of them would be able to say that He has taken me out of poverty, He has taken me out of depression, out of frustration and my future is in my hands.
Mentoring is one of the ways to reach out to others, especially young people. How do you do this?
I mentor as often as I can with every opportunity that I get. I do it on the internet, I do it face to face and I do it with ministries. I do this even with the books that I write. When God told me I was going to be an author of books I didn’t know how it was going to happen but He made it happen. I have another book that will be coming out soon. Sometimes, He gives me the title of the books that I write.
In addition, God has given me good quality staff who are diligent, who are hardworking and they give me the support that I need. I call upon Him and He brings them along. A tree cannot make a forest and so with the support that I get, I am able to reach my aims, aspirations and goals that I set for myself.
