We have amazing people in the world, but Hakeem Belo-Osagie stands out. This Nigerian businessman took a struggling government bank and turned it around. He didn’t just stop there—he became a mentor for young African entrepreneurs, sharing his valuable lessons from over 40 years in business.
Early Life and Education
Hakeem was born in Nigeria, but when he was just three years old, his family moved to the UK for his parents to continue their education. This move exposed him to some tough experiences, like racism, as some classmates wouldn’t even walk with him to school. These challenges made him quiet and hungry for knowledge, earning him the nickname “Mr. Encyclopedia.”
When he was eight, Hakeem returned to Nigeria, where he finished his primary and secondary education. At first, he wanted to study law, but he was inspired by the honesty and intelligence of early Nigerian leaders, which led him to think about public service instead. At 16, he moved to Wales to finish high school at UWC Atlantic College.
Hakeem then went on to study at some of the best universities:
- Oxford University: Philosophy, Politics, and Economics (PPE)
- Cambridge University: Law
- Harvard Business School: He was the only African in a class of 800.
After Harvard, Hakeem faced a tough reality. He applied for 50 jobs but got rejected by 47. Instead of giving up, he decided to return to Nigeria.
Working in Government and Starting Businesses
When he got back, Hakeem joined the Nigerian government as the lowest-paid graduate from Harvard’s MBA Class of 1980. He worked as a Special Assistant to the Presidential Adviser on Petroleum and Energy and later to the Minister of Petroleum and Energy. After some changes in government, he decided to become an entrepreneur.
In 1986, he started CTIL, a consulting firm in the energy sector, and it became successful. His next venture, KMC, a finance company, unfortunately, failed. But instead of letting this setback stop him, Hakeem learned from it and launched FSDH Group in 1992, which succeeded.
Turning Around UBA
In 1994, when Nigeria was selling off state-owned banks, Hakeem saw a chance. He bought 51% of UBA Group from the government for $15 million, not knowing that the bank was nearly bankrupt. Instead of running away from the challenge, he got to work. He cut bad loans, improved the bank’s systems, and built trust again.
By 2005, Hakeem sold his stake in UBA for an impressive $250 million. In 2012, he started Metis Capital Partners, a family office that invests in businesses and makes a positive impact. Today, Metis manages over $600 million and supports more than 20 companies across Africa, including Andela and Jabi Lake Properties.
Helping the Next Generation
Hakeem Belo-Osagie is not just about business success; he is also focused on helping young entrepreneurs. He serves on the boards of important organizations like the Brookings Institution and the Council on Foreign Relations. Now, he is a senior lecturer at Harvard Business School, where he promotes African excellence and offers scholarships for young African students.
Hakeem’s journey shows how resilience can lead to success. He faced failures, fought through challenges, rebuilt his career, and now he teaches and mentors others.
Hakeem Belo-Osagie’s story is a powerful reminder that with hard work and determination, you can overcome obstacles and help others along the way.
