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Hakeem Belo-Osagie – Biography And Business Life Of An African Mogul

Hakeem Belo-Osagie

Hakeem Belo-Osagie is an entrepreneur and philanthropist. He is the Chairman of Metis Capital Partners, an organisation that focuses on brokering and delivering attractive, large-ticket transactions in Africa to select blue-chip international investment partners.

Hakeem Belo-Osagie was the Chairman of United Bank of Africa and 9mobile, formerly known as Etisalat. He has been a key player in the development of the Nigerian economy through his participation in several private sector businesses; particularly in the fields of energy, finance, and telecommunications.

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Background of Hakeeem Belo-Osagie

Hakeem Belo-Osagie was born into the family of (late) Professor Tiamiyu Belo-Osagie in 1955. He hails from Benin City in Edo State. His father was a renowned gynecologist and proprietor of the Osagie Medical Centre while his mother, Iyalekitue Bazuaye was a nurse. (Late) Professor Tiamiyu Belo-Osagie rendered medical services to many Nigeria’s Head of State including General Ibrahim Babangida and President Shehu Shagari.

Hakeem Belo-Osagie

At the age of 3, Hakeem’s family moved to England. When he was 8 years old, Young Hakeem found himself back in Nigeria where he had his basic and secondary education. He started his secondary education at King’s College, Lagos but completed it at the United World College of the Atlantic, Wales. He obtained a law degree from the University of Cambridge, a MA in Politics, Philosophy and Economics from Oxford University. Hakeem Belo-Osagie also has an MBA from Harvard Business School.

He is married to Dr. Myma Adwowa Belo-Osagie, Managing Director at Udo Udoma and Belo-Osagie law firm in Lagos. They are blessed with four children including Yasmin Belo-Osagie, Co-founder of She Leads Africa.

Net Worth of Hakeem Belo-Osagie

His net worth at as 2014 was $600 Million according to Forbes.

Early Career of Hakeem Belo-Osagie

Upon his graduation from Harvard Business School, Hakeem Belo-Osagie returned to Nigeria where he started his career as a lawyer and petroleum economist. Due to the connection his father had with Nigeria government, he was able to secure a job as the Special Adviser to the (late) Mallam Yahaya Dikko. In early 1980’s, (late) Mallam Yahaya Dikko was then Nigeria’s Presidential Adviser on Petroleum and Energy Affairs.

Young Hakeem also served as Special Assistant to the Minister of Petroleum and Energy, (late) Alhaji Rilwan Lukmon. He was also the secretary of the Oil Policy Review and LNG Committees. He subsequently worked in the Petrochemicals Division of the Nigerian National Petroleum Corporation.

He later resigned from public service in 1986 to start his own business.

His Entrepreneurial Journey

After he resigned, he founded Credit Transactions and Investments Limited (CTIL), an energy consulting firm in 1986. Having gathered experience and contacts in the petroleum business, it’s of no surprise the CTIL’s clientele grew within a short time. Hakeem’s company consulted for several companies from United States, Europe and Japan.

From consultancy business, Hakeem Belo-Osagie moved into finance industry. He purchased 51% of the United Bank of Africa (UBA) from Nigerian government and later became the bank’s chairman in 1998. He chaired the bank’s board of directors until he resigned in 2004.

To solidify his ground in the financial sector, he established FSDH Merchant Bank Limited formerly known as First Securities Discount House in 1992. FSDH Merchant Bank Limited was one of the first merchant bank to be licensed by the Central Bank of Nigeria in the new era.

Over the years, FSDH Merchant Bank Limited has grown to become a financial services hub that helps its clientele create long term sustainable wealth.

Hakeem Belo-Osagie is a private man with sharp business instinct.

Hakeem Belo-Osagie

Other Investments of Hakeem Belo-Osagie

Hakeem Belo-Osagie expanded his horizon to telecommunications and other significant sectors in Nigerian economy. He was the chairman of the board of directors of Emerging Markets Telecommunications Services Limited. Emerging Markets Telecommunications Services Limited is a mobile telephone operator operating under the Etisalat brand.

His holding company, Premium Telecommunications Holdings has a significant stake in the company and it’s operated as a joint venture with Mubadala Development Company and the Etisalat Group.

Similarly, he invested in the real estate sector, the shrewd businessman has major shares in Duval Properties Limited. Duval Properties Limited is a real estate company that engages in developing residential and commercial properties. Duval Properties Limited is one of the sponsors of the $120 million shopping mall in Jabi Lake in Abuja.

Of recent, Hakeem Belo-Osagie invested in Andela, a company that specialies in training software developers in Africa. Andela helps talented African software developers build their skills and connect them with top global companies.

With his business interests cutting across different sectors of the Nigerian economy, Hakeem Belo-Osagie was listed among Forbes’ Africa’s 50 Richest in 2014.

Boards Where Hakeem Belo-Osagie Serves

The astute entrepreneur sits on the board of various organisations including Andela, Timbuktu Media, Metis Capital Partners and Alfanar. He serves on the International Advisory Council of the Brookings Institution and Global Board of Advisory of Council on Foreign Relations.

He chairs the Board of Directors of Chocolate City Music Group, Vitol Nigeria, Nigerian National Committee for the United World Colleges and Duval Properties Limited.

He is a member of Harvard University’s Global Council, Yale University President’s Council on International Activities and the New York University President’s Global Council.  

Hakeem Belo-Osagie was previously the chairman of United Bank of Africa, Etisalat, and FSDH Merchant Bank Limited. He also served as a non-executive chairman of the Abuja Investment Corporation from 2007 to 2011.

Philanthropy

Hakeem Belo-Osagie strongly believe in the power of education, he is among the largest donors of the African Leadership Academy (ALA) in Honeydew, Johannesburg, South Africa. African Leadership Academy is a secondary institution dedicated to African teenagers between 16 to 19 year-olds. The institution identifies, develops and connects the next generation of Africa’s leader.  

ALA admits 125 young leaders from across Africa each year for a two-year pre-university program. The academy teaches entrepreneurship leadership, African studies. writing and rhetoric.

Hakeem and his wife, Myma established the Hakeem and Myma Belo-Osagie Fund for the Promotion of Africa at Yale University. They are supporters of Harvard University’s Center for African Studies and provide scholarships for African students studying at Balliol College, Oxford.

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