Hakeem Belo-Osagie is a
Nigerian
Nigerians or the Nigerian people are citizens of Nigeria or people with ancestry from Nigeria. The name Nigeria was taken from the Niger River running through the country. This name was allegedly coined in the late 19th century by British jour ...
businessman. He is chair of Metis Capital Partners an organisation focused on brokering and delivering attractive, large-ticket transactions in Africa to select blue chip international investment partners.
He was listed by
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
Magazine as the forty-first richest man in Africa in 2014.
Belo-Osagie is the son of Professor Tiamiyu Belo-Osagie, a renowned
gynecologist
Gynaecology or gynecology (see spelling differences) is the area of medicine that involves the treatment of women's diseases, especially those of the reproductive organs. It is often paired with the field of obstetrics, forming the combined ...
who catered to the medical needs of the family of former Nigerian military president
Ibrahim Babangida
Ibrahim Badamasi Babangida (born 17 August, 1941) is a retired Nigerian Army general and politician. He served as military president of Nigeria from 1985 until his resignation in 1993. He rose through the ranks to serve from 1984 to 1985 as C ...
. Through that connection, Hakeem secured a job as Special Assistant to the Presidential Adviser on Petroleum and Energy and later as Special Assistant to the Minister of Petroleum and Energy, late Alhaji Rilwan Lukmon. The appointments, he admits put him in the position to close in on a few oil deals from which he made his first fortune.
Belo-Osagie started his career as a petroleum economist and lawyer, following his graduation from
Harvard Business School. For more than three decades, he has been a key player in the Nigerian economy through his participation in several private sector businesses; particularly in the fields of energy, finance and telecommunications. Up Until 2017, Belo-Osagie was the chairman of
Etisalat's Nigerian arm, in which he controlled a significant stake. He also has a range of other business interests in Nigeria.
Belo-Osagie and his wife, Dr Myma Belo-Osagie (a founding partner of Udo Udoma & Belo-Osagie), are noted philanthropists who believe strongly in the power of education. They are among the largest donors to the
African Leadership Academy in
Johannesburg
Johannesburg ( , , ; Zulu and xh, eGoli ), colloquially known as Jozi, Joburg, or "The City of Gold", is the largest city in South Africa, classified as a megacity, and is one of the 100 largest urban areas in the world. According to Dem ...
, and have endowed a fund for the promotion of Africa at
Yale University
Yale University is a Private university, private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the List of Colonial Colleges, third-oldest institution of higher education in the United Sta ...
. The couple are also supporters of
Harvard University
Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of high ...
's Center for African Studies, and Belo-Osagie has established a scholarship to support African students studying at
Balliol College, Oxford.
Belo-Osagie and his wife are both members of Harvard University's Global Advisory Council. Belo-Osagie also serves on the Yale University President's Council on International Activities and the
New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then- Secretary of the Treasury Albert Gallatin.
In 1832, th ...
President's Global Council. In addition, Belo-Osagie sits on the International Advisory Council of the
Brookings Institution
The Brookings Institution, often stylized as simply Brookings, is an American research group founded in 1916. Located on Think Tank Row in Washington, D.C., the organization conducts research and education in the social sciences, primarily in e ...
and the Global Board of Advisors of the
Council on Foreign Relations.
Belo-Osagie and his wife are among the largest donors to the
African Leadership Academy (the "ALA"), a residential secondary school in Johannesburg that works to educate Africa's brightest students. Founded in 2008, the highly selective ALA immerses promising young people in a rigorous two-year curriculum of leadership, service and African studies. The ALA network of alumni includes almost four hundred young leaders drawn from forty three countries across the continent. In 2012, the academy unveiled the "Hakeem and Myma Belo-Osagie Wing", named in recognition of the couple's support of the ALA and their advocacy on its behalf.
Belo-Osagie is also the founder and Chairman of the board of FSDH holding company, which includes among its holdings FSDH merchant Bank, FSDH Asset management, PAL pensions and FSDH securities trading company
Personal life and education
Belo-Osagie was born in
Lagos
Lagos (Nigerian English: ; ) is the largest city in Nigeria and the second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national capital of Nigeria until December 1991 fo ...
, Nigeria in 1955. His father was a professional gynaecologist and his mother was a nurse. He is the father of
Yasmin Belo-Osagie
Yasmin Belo-Osagie is co-founder of ''She Leads Africa'', which she co-founded with Afua Osei. She is the daughter of Nigerian billionaire Hakeem Belo-Osagie and lawyer Myma Belo-Osagie.
Early life and education
Belo-Osagie was born in Bos ...
. He attended
King's College in Lagos and completed his secondary education at the
United World College of the Atlantic
Atlantic College (formally the United World College of the Atlantic; alternatively styled UWC Atlantic College, UWCAC, or UWCA) is an independent boarding school in the Vale of Glamorgan in south Wales. Founded in 1962, it was the first of t ...
in Wales.
Belo-Osagie holds a law degree from the
University of Cambridge
The University of Cambridge is a public collegiate research university in Cambridge, England. Founded in 1209 and granted a royal charter by Henry III in 1231, Cambridge is the world's third oldest surviving university and one of its most pr ...
, a MA in Politics, Philosophy and Economics from the
University of Oxford
, mottoeng = The Lord is my light
, established =
, endowment = £6.1 billion (including colleges) (2019)
, budget = £2.145 billion (2019–20)
, chancellor ...
and an MBA from the
Harvard Business School. He is a member of the
Nigerian Bar Association
The Nigerian Bar Association (NBA) is a non-profit, umbrella professional association of all lawyers admitted to the bar in Nigeria. It is engaged in the promotion and protection of human rights, the rule of law and good governance in Nigeria. T ...
.
He currently lives in Nigeria with his wife Dr.Myma Belo-Osagie and their four children
Career
Oil industry
Belo-Osagie returned to Nigeria shortly after graduating from Harvard in 1980. He began his career in the service of the Federal Government of Nigeria working in various capacities in the energy sector ranging from Special Assistant to the Presidential Adviser on petroleum and energy, to Secretary of the Oil Policy Review and LNG Committees. He subsequently worked in the Petrochemicals Division of the Nigerian National Petroleum Corporation. He resigned his appointment in 1986 to set up CTIC, which became a leading energy consulting firm.
He also chairs the board of
Vitol
Vitol is a Swiss-based multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics and distribution are at the core of its business, these are complement ...
Nigeria, which is a subsidiary of the Swiss-based Vitol Group, a multinational energy and commodity trading firm.
Finance
In 1998 Belo-Osagie became the chairman of the board of directors of The
United Bank for Africa
United Bank for Africa Plc (UBA) is a Multinational pan-African financial services group headquartered in Lagos and known as Africa’s Global Bank. It has subsidiaries in 20 African countries and offices in London, Paris and New York. In Dece ...
Plc (the "UBA"), one of the largest commercial banks in Nigeria. He resigned from this post in March 2004, in the wake of unsubstantiated allegations made by The
Central Bank of Nigeria (the "CBN") that the UBA had been involved in unlicensed foreign exchange trading. As a result of these allegations, Belo-Osagie was immediately blacklisted by the CBN. In 2005, local reports suggested that the Nigerian
Economic and Financial Crimes Commission
The Economic and Financial Crimes Commission (EFCC) is a Nigerian law enforcement agency that investigates financial crimes such as advance fee fraud (419 fraud) and money laundering. The EFCC was established in 2003, partially in response to pre ...
had launched an investigation into Belo-Osagie's chairmanship of the UBA. No criminal charges were ever filed against him. On 24 May 2010 the CBN acknowledged its actions to have been unduly punitive, and removed Belo-Osagie from its blacklist with immediate effect.
Belo-Osagie is also the founder and Chairman of the board of FSDH holding company, which includes among its holdings FSDH merchant Bank, FSDH Asset management, PAL pensions and FSDH securities trading company
Telecommunications and other recent ventures
Belo-Osagie until recently, was the chairman of the board of directors of Emerging Markets Telecommunications Services Ltd, a mobile telephone operator which operates in Nigeria under the Etisalat brand. He is the ultimate beneficial owner of a significant stake in the company, which is operated as a joint venture with Mubadala Development Company and the Etisalat group.
Belo-Osagie is the chairman of and main shareholder in Duval Properties Limited, a real estate company currently engaged in developing a major new residential and commercial district at Jabi Lake in
Abuja. He also chairs the board of Vitol Nigeria, which is a subsidiary of the Swiss-based Vitol Group, a multinational energy and commodity trading firm.
Belo-Osagie has also recently invested in
Andela, which is developing a network of high quality computer science education programmes across the African continent. Andela operates a self-financing model of education: it funds the training of promising young
programmers, and generates revenue by supplying its graduates' services to a range of global clients. Belo-Osagie also sits on Andela's board.
Non-executive and honorary positions
Belo-Osagie sits on the Global Board of Advisers of the
Council on Foreign Relations, a leading non-partisan US think-tank. In 2015, Belo-Osagie was appointed to the International Advisory Board of the
Brookings Institution
The Brookings Institution, often stylized as simply Brookings, is an American research group founded in 1916. Located on Think Tank Row in Washington, D.C., the organization conducts research and education in the social sciences, primarily in e ...
in Washington DC, which has been described as the most influential think-tank in the world.
Belo-Osagie and his wife both serve as members of Harvard University's Global Advisory Council. Belo-Osagie is also a member of the Yale University President's Council on International Activities and the
New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then- Secretary of the Treasury Albert Gallatin.
In 1832, th ...
President's Global Council.
Belo-Osagie was appointed by the Nigerian Minister of the
Federal Capital Territory to act as a non-executive chairman of the Abuja Investment Corporation from 2007 to 2011. He did not receive a salary for this role. Belo-Osagie also currently chairs
Chocolate City Music Group, a leading Nigerian entertainment company.
Philanthropy
Belo-Osagie and his wife are among the largest donors to the African Leadership Academy (the "ALA"), a residential secondary school in Johannesburg that works to educate Africa's brightest students. Founded in 2008, the highly selective ALA immerses promising young people in a rigorous two-year curriculum of leadership, service and African studies. The ALA network of alumni includes almost four hundred young leaders drawn from forty three countries across the continent. In 2012, the academy unveiled the "Hakeem and Myma Belo-Osagie Wing", named in recognition of the couple's support of the ALA and their advocacy on its behalf.
The couple have recently established the "Hakeem and Myma Belo-Osagie Fund for the Promotion of Africa" at Yale University, and are supporters of Harvard University's Center for African Studies. Belo-Osagie has also endowed a fund to provide scholarships for African students studying at Balliol College, Oxford.
Belo-Osagie serves on the board of
Alfanar, a charity which applies the principles of private sector investment to charitable giving to help build sustainable social enterprises throughout the Arab world. He also chairs the Nigerian National Committee for the
United World Colleges
United World Colleges (UWC) is an international network of schools and educational programmes with the shared aim of "making education a force to unite people, nations and cultures for peace and a sustainable future." The organization was founde ...
, which assists the organisation's member colleges in identifying suitable candidates for their two-year
International Baccalaureate
The International Baccalaureate (IB), formerly known as the International Baccalaureate Organization (IBO), is a nonprofit foundation headquartered in Geneva, Switzerland, and founded in 1968. It offers four educational programmes: the IB D ...
scholarship programmes.
Mr Belo-Osagie has also funded several scholarships to the United World Colleges.
References
{{DEFAULTSORT:Belo-Osagie, Hakeem
Living people
Harvard Business School alumni
King's College, Lagos alumni
20th-century Nigerian businesspeople
21st-century Nigerian businesspeople
Businesspeople from Lagos
Alumni of the University of Cambridge
Alumni of the University of Oxford
Nigerian expatriates in the United States
People educated at Atlantic College
People educated at a United World College
Panama Papers
People from Edo State
Nigerian brokers
Nigerian chairpersons of corporations
1955 births