With a Net Worth of $550 million according to Forbes (estimated to be worth $1billion by Ventures Africa) and a business empire spanning manufacturing, oil & gas, telecoms and hospitality industry, Obafoluke Ayoola Otudeko is an accomplished business mogul.
The CEO of Honeywell Group, Airtel Nigeria, Fan Milk of Nigeria Plc, and Radisson Blu Hotel, to mention but a few, earlier this year was named Africa CEO of The Year 2016 by the Africa CEO Forum beating seven other finalists, including Africa’s richest man, Alhaji Aliko Dangote, to clinch the coveted prize in Ivory Coast.
Otudeko and Dangote were the only Nigerians listed among the eight top contenders for the award.
The forum rewards Africa’s best chief executive officers, companies, and investors whose strategies have contributed significantly to the economic growth of the continent. Set up in partnership with the African Development Bank, ADB, the Africa CEO Forum is an event organised jointly by Groupe Jeune Afrique, publisher of Jeune Afrique and The Africa Report, and Rainbow Unlimited, a Swiss company specialising in organising economic promotion events.
Founder and President of the Africa CEO Forum, Amir Ben Yahmed, while presenting the award to Otudeko, noted that the CEO of the Year award was conferred on him based on his achievements in the fields of development, governance, strategy, leadership, and financial performance across the operations of his conglomerate.
This notable achievement is a further testament to the global recognition that this chartered banker, chartered corporate secretary, and chartered accountant commands in the business circle.
Otudeko joined the business world at a very tender age. His Honeywell Group, founded in 1972, started operations as a trading concern, importing and marketing baking yeast, stock fish, glass and steel rods, among others.
The group of companies has, overtime, evolved into a diversified enterprise with businesses across major sectors of the Nigerian economy. Through additional portfolio investments, the group is also a significant provider of capital to other sectors, including financial services, telecommunications, and security management.
Today, Otudeko’s conglomerate encompasses the oil and gas industry, flour milling, real estate and marine transportation sectors
Otudeko recently retired as the Chairman of First Bank of Nigeria Plc after 12 years on its board. He has also served on the boards of the Central Bank of Nigeria, Guinness Nigeria Plc and Ecobank Transnational Incorporated, ETI.
Between September 2006 and August 2009, he was the 16th President and Chairman of Council of the Nigerian Stock Exchange, NSE.
He was formerly Chairman of the National Maritime Authority; Member, Constituent Assembly responsible for drafting a new Constitution, 1988 to 1989, and Council Member, Manufacturers’ Association of Nigeria, MAN.
He was the Chancellor of Olabisi Onabanjo University, Ago-Iwoye, Ogun State from 2001 to 2010 and has also served on the Africa Regional Advisory Board of the London Business School, where he is now a member of the Office of Distinguished Friends.
Over the years, Otudeko attended management courses at several prestigious institutions, among which are the Harvard Business School, the International Institute for Management Development in Lausanne, Switzerland, the Arthur D. Little School of Management and the London Business School.
He is currently rated 24th richest man in Africa by Forbes Magazine.
