Interviews
Interview with Africa’s richest woman, Isabel dos Santos of Angola
Many people around the world are familiar with Aliko Dangote, a Nigerian who is often described as Africa’s richest man. But Isabel dos Santos, 45, an Angolan businesswoman, is Africa’s richest woman and the eldest child of Angola’s former President José Eduardo dos Santos, who was in power from 1979 to 2017.
In 2013, according to research by Forbes, her net worth had reached more than three billion US dollars, making her Africa’s first billionaire woman. Five years have passed ever since and her wealth has continued to grow.
But being a woman in a male-dominated business world is not always easy, especially for African women.
In this interview, she talks about business, being a woman in a world dominated by men and how she keeps steaming forward in spite of daily challenges.
How have the men in your life (father, husband, others) supported your growth as a female leader in business, and what advice can you give to men to help contribute to the growth of female leaders?
I realised quite late in life that my education had been quite rare for an African girl. My father raised me exactly has he had done my brothers, and never told me: ”girls don’t do this” or “girls can not be that”. At age 18, going to university, I was undecided on what to apply for, and I remember my father persuading me to become an astronaut or a computer scientist, it never crossed my mind that this is something that African girls don’t do and can not be.
Finally, I choose to study Engineering at University, and there was only one other girl (Chinese) in my class.
I do not ever recall hearing things like, “Don’t worry, your brothers will work and take care of you”, or “you are girl; one day will marry and find a nice man to take care of you”. I was taught to make my own way in life, and never to depend on any man being it father, brother, or husband.
This built in me a strong spirit of independence. My parents were both insistent on an education that focused on confidence and competitiveness.
As a woman I have also been lucky to have found and married an opened-minded husband who is also African, and who never saw my personal career or success as a threat, and who allowed me the time and space that I needed to dedicate to my work.
My husband has been a pillar of support throughout my career – crucial to my success. He has provided me always with honest advice and encouragement. He is a great father to all of our four children, being there for them when I am absent, during my long work schedules and overseas trips.
The advice I would give to parents is to establish very early on a sense of confidence and responsibility in their girls. Teach them to fend for themselves and to rely only on themselves. Teach your daughter life skills. Teach your daughter the skills on how to best manage her finances, her salary, and her investments wisely. And moreover, treat her as an independent person and whole human being with a true role in society, equal to that of a man’s.
In a male-dominated society, what are some of the biggest challenges you face as a female business woman?
In the business world there are very few female peers, and it is till undoubtedly a very male-dominated society. Discrimination and prejudice exists. On various occasions in business meetings it has happened to me that the other party with whom I am negotiating will look solely at my male advisor or male lawyer, to see what he has to say, even though I am the owner /shareholder of the business and have already clearly stated my decision.
Your opinions are frequently second guessed simply because you are a woman. I am also often asked : “what business does your husband do? ” People just assume that as a woman and a mother you are someone less able to be negotiating at the table or that you built your own business. The toughest thing for women is to raise capital and investment for their business, as the financial system has “more confidence” in male-led projects.
Are there particular challenges that you face as an African woman?
Being very often the only black person in the room … is a challenge, people tend to treat you differently. Africa, has unfortunately been marketed in a very poor way. The narrative around African economies and African business isn’t favourable, it’s full of negative connotations. Africa needs better marketing in order to promote its success stories better. There is very little knowledge of African businesses or key business players out there.
How do you maintain your strength to carry forward?
As an African person, I was lucky to receive a top education. In this way I am privileged, and this provides me with a great sense of duty, to do more for others, for my country and for our people. To inspire and help others build their dreams, build their business, get good jobs, and educate their children.
What opportunities exist currently in Angola or other countries in the continent for women who wish to make money and build successful enterprises?
Opportunities for me always start with a simple question: What do you know how to do? What are you good at? And there you will find your opportunity.
Angola in particular has many untapped resources: from minerals and agriculture, manufacturing to services and tourism. Each one comes with a different level of complexity, different need for investment, but all are strong and possible starting points.
The more complex the business, the more it will require, for you to be experienced and skilled, and the need for more capital. Today, the Angolan banking sector offers financing and loans for good projects and businesses, and it is true that interest rates are still high, and that some collateral or partial guarantees is required, as well as some starting capital (savings or land) as equity from the investors. Angola imports over $9 billion of food commodities and consumer goods. Today Africa as a whole continues to import vast amounts of commodities and consumer goods.
A good opportunity in Africa would be the medium scale production of agriculture produce or animal farming or manufacturing. Also in some countries, there is a growing middle class with a growing disposable income, and thus internal tourism such as lodges, and countryside bed and breakfasts are also a developing opportunity for small family-owned businesses. Good quality private education and private health care clinics are also sectors of potential business growth in Africa, as people want to invest in education for their children.
Bigger opportunities, for more capital intensive investments and bigger deals, lie in industries, such as glass or steal manufacturing for construction, or mineral exploration.
How can we get started?
Your best business bet is you, your skills, your motivation, and your passion.
You must have an idea, make a five year plan, prepare your money, ground your idea in detail, be persistent, and partner yourself with a trusted team. Stay passionate always, and execute – don’t delegate.
What are some tips and tricks you can share with young women about managing time, juggling responsibilities, and self-care with all your different ventures and responsibilities?
Time unfortunately is one of those things that none of us has enough of! We always end up sacrificing something, wether it be less time with our family, or our friends, or having our social life. Or even less time at the gym!
It’s a challenge. Priorities are key. You must allocate your time to your priorities, and your priorities must match your life expectations.
How do you manage your time with all your different ventures and responsibilities?
Because you are the richest woman in Africa, many people must ask you for charity and support for their social ventures.
Have you established a formalised way to give back?
Supporting social ventures has always been a priority. From the start, I have installed in my companies a specific division for social responsibility and sponsorship programmes. We sponsor several charities, and we run our own programmes.
My vision is that to have a better society; it’s important for us to give back and help others. Today, giving back has become part of our company culture, and we have thousands of employees that are volunteers and help run our programmes in the community.
We created a culture that engages people, and each person has the opportunity to play an active role in our social ventures. We finance and run a large and diverse programme of social responsibility initiatives such as: supporting a children’s Pediatric hospital where we are one of the largest donors and partners; we finance and run the largest nationwide campaign for the fight and prevention against Malaria; we sponsor a charity for clean water initiatives in poor communities; with our volunteers we run a “special day “ programme for underprivileged or sick children in which organise special play days and fun adventures, for over 10.000 children in all the country, to give them the experiences they would never otherwise have. Last year, I have started the first Christmas telethon, on the nationwide television network, it allowed us to partner up with several companies and businesses to further help and support communities needs.
I have encouraged all our employees to be part of our social responsibility programmes , as volunteers, as I believe we need to multiply our efforts and together we are stronger. I am personally very involved, as a donor, but also personally taking part in these actions, as well as in organizing social ventures and engaging with the community directly, as this is a firm commitment I have made to help improve our society.
How do you decide what causes to support, and when to say no?
I choose to support those initiatives that are focused on the needs of children, and with education and healthcare at the core of what I do. The fight against malaria is a cause that I carry very close to my heart and I am very committed to help to its eradication.
My commitment is for one day to see Africa brimming with entrepreneurs, from businesses small and big, with ambitious initiatives, full of perseverance, support and opportunities. In my vision, I believe that we have a true lever for change in Africa, and it’s not our resources, but our education. The quality of education we are able to give our children will determine the future of Africa. Anyone that dreams of changing Africa, education is the key. We must educate our girls, as they are the future mothers, and an encyclopedia of knowledge for their children.
Ife Grand Resort & Leisure, one of the best hospitality-care centers in Africa, located on an expansive hilltop, adjacent to the Ife-Ibadan Expressway at about 4 km from the heart of the ancient and culturally important city of Ile-Ife, in Osun State, Southwest Nigeria, is the right place to be not only for tourists, fun-seekers, holidaymakers, travellers; but also for government institutions and individuals seeking exciting and memorable experience.
Reuben Abib, the General Manager, of Ife Grand Resort & Leisure, in a chat with Idowu Ayodele, reveals the intrinsic values that set the hospitality center apart from others.
Excerpts:
Why is Ife Grand Resort & Leisure described as the people’s palace?
It is, indeed; the people’s palace! You know not everyone can enter the Enuwa palace of the Ooni of Ife, but Ife Grand Resort & Leisure is the extension of that same palace. Here, at the People’s Palace, everyone can feel and be treated like royalty. We set up on over 328 acres of land, over a hundred rooms with chalets of different categories.
We actually have tree houses as well, very interestingly, they are all air-conditioned, we have Eclipse nightclub, a zoo, African Village, which hosts a Bamboo Restaurant and a local kitchen where guests can visit to witness how local food menus are prepared and served to them in local pots, the Adire Oodua Textile Hub where they make traditional adire clothes (tie-and-dye).
The resort also houses a 200-capacity cinema hall nearing completion and would be commissioned soon, an event centre, a conference hall, an indoor spa centre for manicures and pedicures, swimming pools, restaurants and bar, barbecue, where you can get your catfish, bush meat, palm wine among other facilities. Honestly, there is so much to do here, this is a place to be.
Considering the huge staff strength, both permanent and casual workers, how have you been able to manage and coordinate them for optimal productivity?
We are very much like a family here. So, I see myself like a father figure to all my staff, even a father figure to my customers. We may not always agree on some issues, but the fact is that if you realise you have a relationship that you want it to be extended beyond this present moment, then you have to manage yourself to protect such relationships. There is one Yoruba proverb I owe dearly to my heart is that when a child knows how to wash his hands well, he eats with the elders.
Interestingly, it is something the Yoruba culture has taught me which is the way we treat each other, the respect we give each other, we love each other so much that we bow to each other, in simple greetings, you must adopt humility to succeed. The secret I am trying to bring to the table is that you must love your children even if you must discipline them, binding it together, I think things are working fine here with us.
I am able to manage a diverse group of individuals with unique talents, skills, and abilities.
There are many resorts and hotels in Nigeria, what exactly sets Ife Grand Resort & Leisure apart from others?
We are the source, the cradle of the Yoruba race. The resort itself exemplifies everything that is housed within the Yoruba culture. One of our unique advantages is the pristine rain forest which is just a three-minute walk, and a tropical utopia for leisure seekers and discerning guests who cherish tranquility and communion with nature amid personalised hospitality services.
We are surrounded by nature , both flora and fauna.
We have more than enough facilities, stable security and fantastic personnel that will make your visit to this destination an exciting and memorable experience. In addition to everything you can do here, we are just a few minutes away from the 401 historical and religious sites in Ile Ife, so if you want to see culture first hand, this is the best place to be. There is so much to do here, so much to learn, there is no way even once in a lifetime you can take everything away. We are just a few weeks to Olojo festival, literally there is always a festival in Ile-Ife.
If you really want to get in touch with yourself and your culture, Ile-Ife is the only place to do that, this is the source.
How affordable is Ife Grand Resort & Leisure?
We are the most affordable four-star resort in Nigeria, I can assure you of that. This is the people’s palace, we want it accessible and affordable for all, the reason we deliberately splashed the prices by half. Can you imagine a standard room for N10,000 in a four-star resort?
Having spent some quality and eventful years in Africa, particularly Southwest Nigeria, how would you describe the Yoruba culture?
I am an African American. Growing up in Canada and the US, they will be telling us that our culture is dead. In 2017, when I met the Ooni of Ife and I saw living culture, I saw the culture of the Emeses, the culture of the cult, I saw the culture of the Yoruba people, prostrating before this amazing King, and I was touched to the soul. I am actually a born orphan, and one thing about orphans is that not only that people adopt us, we also adopt people. I must say that I have adopted Yoruba because it resonates with me – the history, the culture, proverbs, and wisdom of the Yoruba people, is something that I feel it is within my soul and it is wonderful.
Likewise, I spent 11 years in the Gambian and I already spent over 5 years in Nigeria, I can always see that for we the repatriated Africans, it is actually easy to find our home here and this is very welcoming. Thank you for sharing your culture with me.
Alhaji Muritadha Adeyemi Adeniji is a leading player in the Cocoa and cashew business in Nigeria. Therefore his insight into the challenges and prospects of the agro-industrial sector cannot be faulted. His company, Starlink Global & Ideal Limited, provides a wide spectrum of marketing and financial services for the procurement and export of Agricultural Produce and Commodities to both local and international markets.
SGI agricultural produce also includes raw cocoa beans, raw cashew nuts, shea nuts, and natural sesame seeds. SGI today has grown tremendously and is well represented in all cocoa-producing zones of Nigeria.
In this interview with online news editors, he bares his mind, among other issues, on the status of cocoa production in Nigeria, even as he expressed his fear about the future of the crop. Excepts
Sir, Nigerians are concerned about the dwindling production of cocoa in Nigeria, because the crop used to be a major contributor to the economic development of the country most especially in the western region in the 60, and 70s. Do you share their fear?
I appreciate your concern about the future of Cocoa in Nigeria. Unfortunately, we used to be number 2 between the period 1968 and 1975. Up to 1992, Nigeria still struggled to be between number 3 and 4 but we are now number 7. Ivory Coast as of 2013, the country was producing 1,000,000 tonnes. Today, Ivory Coast produces 2000400 tonnes. They have doubled their production and have even added more within that period. Looking at the same time, Ghana used to produce 750000 tonnes but they are now producing 950000 tonnes. Cameroon used to produce 350000 tonnes they are still on the 350000 tonnes. Indonesia used to produce 450000 tonnes, they are now producing 280000 tonnes.
They have had a reduction in their production. Nigeria used to produce 250000 tonnes, they are now on 300000 tonnes. Brazil produces 320000 tonnes. All other countries of the world produce the rest of the tonnes.
The total need for Cocoa in the world is 4million tonnes in a year. 75% of the production is done by Ivory Coast and Ghana, which is why they went into a collaboration to ask for Liquid Income Preferential from the chocolate makers. I am the first Nigerian and African to be a member of the Federation of Cocoa and Commerce (FCC), which is responsible for regulating the Cocoa economy in the world. This gives me insight into the problems and solutions to Cocoa production.
When we talk about Nigeria, it’s not only about Cocoa but the quality of leadership has been the problem. When we have leaders that only think about 4 or 8 years in office and do not have a long term plan. This is criminal and injustice to the people they are leading. We must have a well structured country, that has immediate, short and long-term plans. Developed countries of the world have all these plans with strong institutions that Nigeria is lacking.
Unfortunately, corruption has killed almost everything in Nigeria. I don’t like politics and I won’t be one of them. Take a look at the time of late Chief Obafemi Awolowo who was an Ijebu man, what was Cocoa production like in Ijebu then? He institutionalized Cocoa production across the Southwest. He had a big Cocoa farm, not for himself but for the country in the present-day Edo State. Things need to change. The law of diminishing return is taking effect on the Cocoa trees as some are now 100 years while some are 75 years. If they are cut down how many years would it take for us to have the new ones? What incentives are being given to the youths as motivation to engage in farming?
What have they been doing in Ivory Coast that Nigerian government has not been doing?
In Ivory Coast, the government allocates 2.5 hectares of land to the youth to engage in farm production. Nigeria’s government needs to create a medium for large farm sites and put necessary social infrastructures to make life bearable for the people. West Africa produces almost 75% of Cocoa in the world, all other countries cannot. We are blessed in this part of the world. For instance, in Indonesia, natural disasters destroy the farms. The government should start to have long-term plans. This is one of the reasons we are faced with the challenge of insecurity such as banditry, kidnapping, and others. We need to face the reality of how to navigate the perennial problems. Unemployment is directly proportional to poverty, banditry, kidnapping, and terrorism.
So how can we get it right?
For Nigeria to get it right in Cocoa production, the government needs to remove what is known as Land Use Act. The people should be allowed to have access to land. This is one of the major problems of agriculture in Nigeria. Physical planning is very key. We are very lucky, Nigeria has the largest arable land in the whole of Africa. You can see the incursion of foreigners into the country, Chinese, Indians, and others are buying lands in large quantities and they are collecting documents from the government, we need to be careful about that. We are talking about colonization, what is going to happen would be worse than colonization. We should learn from the apartheid in South Africa and Palestine because the major cause of what is happening in Palestine, Zambia, and Zimbabwe is land. This is also evident in Kaduna and Jos.
No government agency or parastatal in Nigeria is working, corruption has destroyed all of them. We are not investing in technologies that will improve our agricultural system. We need huge investment in technologies in our institutes for us to have alternatives. The kind our fertilizers we use on our farms are the ones killing our soil.
The government should create an enabling environment supported by reasonable laws that wouldn’t be broken. So many people are interested in agriculture but they are being discouraged by the lack of enabling environment.
I want to call on the government to have a well-structured system, long term plans and be proactive in the needs of the citizens, especially the youths. We don’t have accurate data in Nigeria, we only have estimates.
The Nigerian government has been talking about diversification of the economy, especially in agro-industrial sector, in your own opinion do you think they are walking the talk?
As a stakeholder, I have constructively criticized the government to challenge them on the necessary things to be done. Nigeria is retrogressing at a fast pace, something needs to be done. The chocolate factory needs 24 hours electricity, are we having this in Nigeria? A factory cannot be successfully run in an unpredictable place like Nigeria. Look at the price of diesel which used to be N350 which is now N800. So many companies are folding up in Nigeria not because they are fraudulent, it is because they operate in a very harsh economic environment.
How did you get into this business?
I was a biochemistry lecturer at the University for 11 months. Religion discrimination and politics in the institution made me leave lecturing job. There was a terrible gang-up as I was the only Muslim, I didn’t see myself developing quickly in such an environment. When I left, I secured another job in Union Trust before the death of my Managing Director which made me leave there after 11 months.
I never wanted to do this business because I have experienced different things in this business. I had so many crises in the Cocoa business. Although, it is my father’s business. Hunger and desperation forced me to stay in the Cocoa business.
How long did it take you to build Starlink Global & Ideal Limited?
We started in 1999. Today, we are the largest exporter of Cocoa, Cashew, and palm oil in Nigeria. In the last 10 years, the growth has been wonderful. We are now into processing, we have just bought the largest and multi-million processing plant in Nigeria.
At SGI, we have 452 direct workers and about 900 appendages. We see the human being as the most important asset. We have warehouses in about 16 states. I motivate my staff for maximum production with sustainable empowerment. Most of them are now self-independent
Chief Mutalubi Adebayo Ojo read Mass Communication at the University of Lagos, he later proceeded to the University of Ibadan to study Law. He equally served as the Attorney General and Commissioner for Justice under late Governor Abiola Ajimobi of Oyo State.
Last Tuesday, he appeared on Ayekooto On Radio, a magazine programme anchored by Olayinka Agboola live on a private radio station in Ibadan, the capital city of Oyo State. Read some of his submissions:
On one of your Social Media profile pages, you wrote that laws must be used as tools of social engineering, for economic development and poverty eradication. Why did you think along this line sir?
Lawyers are called legal luminaries all over the world especially in a democracy to lighten paths and ways of their fellow citizens so that they can see through and will not fall or slip from their ways. Law is an object to develop the country and engineer development and tackle poverty.
Today, as we are speaking, do you consider yourself to be a full fledge politician?
I must not pretend about that. I am a card-carrying member of the All Progressives Congress (APC). I formally joined the party very recently during the revalidation exercise. When I was in government under our late leader, Senator Abiola Ajimobi, I was not a card-carrying member of the party.
What was it like when you were the Chief Lawmaker in Oyo State?
It was all about service to humanity, contributing your quotas to your community, state and society at large. All of us cannot be satisfied to remain in our comfort zones because if it is something we are going to eat together with our family and how to educate our children, we do not have such problems. Let us think of others who are less privileged and who do not have the same opportunity like us. In life there are basic amenities of life such as food, shelter and education and health. Let us strive to make life more meaningful to people, I believe that any aspiration to be in government and public service should be geared towards service. As a commissioner, I served to the best of my ability.
States are at war with Government on the issue of the Value Added Tax collection (VAT). What is your opinion?
I have a very different view and I have expressed it at different fora before. Value Added Tax (VAT) is not listed specifically in the exclusive list. We have already had in place a VAT act – since the era of the military. The Federal Inland Revenue Service (FIRS) has been collecting it from individuals, company without any level of protest from any level of government. It will be wrong for any state now to enact another VAT law like Lagos and Rivers have done. We already have a federal act which has covered the field and that will be inconsistent with any law that is happening now.
During the second republic, we had a similar case between Attorney General of Ogun State and Aberuaba which was litigated up to the Supreme court that it was stated that Ogun State could not enact sales tax.
Also, during Asiwaju Bola Ahmed Tinubu as Governor of Lagos State, there was this law that was enacted by Lagos state government on hospitality and consumption tax. It happened that Eko Hotel took the state government to court that they could not be paying the same tax when they were already paying same to the federal government and they won the case.
Now, as a lawyer and politician, you know the way things are in Nigeria today – insecurity and economic woes, where did we get it wrong?
Leadership is the major problem facing Nigeria. Our current president, Muhammadu Buhari has failed and has disappointed many people. He has failed woefully and the party, APC has lost its goodwill that brought it to power in 2015.
But some observers said Jugdes/Lawyers, Policemen and Journalists are mainly responsible for the situation Nigeria has found itself..
I do not agree with that assumptions that Lawyers, Judges, Police and Journalists are responsible for Nigeria’s problems today. We have all failed. We cannot have a better country if we do not have a good family unit. A good community cannot exist if there is a bad local government and state. We have lost it all and all sectors are affected. We are the problems and if people in the country agree to change and do the right things then Nigeria will be better.
What do you think is the difference between APC and the Peoples Democratic Party (PDP)?
There is no difference between the two parties. Our political parties are not ideology-based. They are just platforms through which one can get elected to serve. There is nothing like progressives’ party in my understanding. Both parties are bereft of ideologies.
So, what is the way forward sir?
We cannot keep complaining that because politics is a dirty game. It is dirty because majority of the people participating in it presently are dirty. We must not leave it to charlatans, we must all participate in it to improve the system.
What is your stake on the ongoing agitation for Yoruba nation?
Looking at the rate at which we are going in this country, unless Nigeria is restructured, we may disintegrate. Things are not at ease and we have never been divided like this before. The Hausas are seeing themselves as different from the Fulanis. There is nothing like one north again, even the Hausas and the Fulanis are even more divided than the south. We need to sit down and find solutions to the myriad of problems we are facing.
Independence of Yoruba Nation is just one of the valid options to be used to solve Nigeria’s problems.
Before you go, do you wish to send a message to fellow politicians?
Let us all resolve to do the right thing at the right time. Let us be selfless and put the interest of the country at heart first and let us love Nigeria above our personal interest.
I will also counsel Nigerians not to cut corners and to do the right things always.
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