Born to the illustrious Fajemirokun family, Adenike Fajemirokun Koumpati is an expert in the risk management sector. Well read and highly cerebral, the beautiful lady who is in her mid 40s sits atop a high position in Dangote Group. She is the first female executive director of the group. With her position, she makes happen everything in the company, In fact she has the ears and the eyes of the chairman, Aliko Dangote.
She puts together everything that needs to be done by the company and makes sure it’s all hitch free. No wonder, Aliko Dangote does not joke with her. About a week ago, Aliko Dangote shared a video of the company’s visit to the refinery site and he was ecstatic about the amount of work that has gone into making it a reality. Also in the post he thanked those who made the journey easy with him and its at that point he specially thanked Adenike. He wrote, “The journey of a thousand miles begins with a step as they say, commitment, consistency,and a good dose of courage must come handy on any worthwhile journey as well. What’s more important are the people who navigate the road to greater possibilities with you. I am grateful for our organisation’s remarkable leadership and profound thanks to our Group Executive Director/ Group Chief Risk Officer, Adejoke Fajemirokun who drives my office oversight portfolio, and the risks across our organization, always ensuring that no stone is left unturned.” Such a rare compliment from a boss and Adenike was indeed appreciative of it.
How did Adenike get to this top management level in a company like the Dangite Group? From our findings, her determination, intimidating profile surely worked in her favour. Let us tell you more about her journey.
On May 2, 2018, Adenike broke the barrier of male boardroom dominance in Dangote Group when she was appointed as the first-ever female executive director of Dangote Group, Africa’s foremost indigenous conglomerate, in a bid to strengthen the group’s Executive Management Team and sustain its strategic business growth trajectory.
She took on the leadership as the Group Chief Risk Officer, leading the Risk Management functions for the group and overseeing the company’s governance model and Enterprise Risk Programme. On her appointment, Aliko Dangote also expressed excitement.
“It is exciting seeing a female occupy such a high position. We are gender sensitive and create equal opportunities for both male and female to get to the top. The new appointments are to strengthen the Group’s Executive Management Team and to consolidate on its strategic business growth trajectory”,
Born in September, 1977 to the serial entrepreneur and business tycoon, Chief Dele Fajemirokun., chairman of AIICO Insurance, she studied Civil and Structural Engineering for her Bachelor’s Degree at the prestigious University of Manchester, and took up the job of a fire engineer at construction sites on graduation.
Adenike stumbled into Risk Management by commission when as a staff of Anup, one of United Kingdom’s best global firms of consulting engineers, her company prevailed on her to attempt a Ph.D to develop a risk management model for the firm. Of course, the company gave her full sponsorship as incentive. She took the bait, studied Quantified Risk Modelling: Risk-Informed Engineering from the University of Manchester, and today, the rest, as they say, is history. Adenike has gone ahead to become a force to reckon with in risk management globally.
She has amassed experience spanning over 18 years in developing and implementing risk management strategies in financial engineering, manufacturing and other industries, Fajemirokun has worked in reputable organisations like Ove Arup and Partners, Deutsche Bank AG in the UK, Corporate and Investment Bank, Goldman Sachs London and First Bank of Nigeria before joining Dangote Group in 2014 as the Group Risk Officer.
In 2010, she founded her own company AFRisk Management Consultants Limited which she also headed. The company has succeeded in developing enterprise risk management frameworks for some of the country’s major institutions like Central Bank of Nigeria, First Bank Nigeria and First Bank Capital Plc. It was while performing her role as Specialist Consultant that she caught the attention of Alhaji Aliko Dangote.
“Instead of consulting, why don’t you just join us? I need somebody fulltime,” were the words with which Dangote got her into the group in 2014. To her, that was a new challenge as she was saddled with the responsibility of doing manufacturing risk different from her usual financial risk management. She did not disappoint. Her prolific upbringing working with various A-list companies including her father’s firm prepared her for the challenges ahead her new terrain.
Exhibiting character and strength greater than that of a regular woman, Adenike has led Risk Management Functions for the group and its various businesses overseeing the governance model and enterprise risk programme. She develops and manages processes to identify, assess, monitor and reduce risks that could interfere with the achievement of the company’s goals and objectives. She is also responsible for managing the Group’s Insurance, Procurement Portfolio and Logistics.
Apart from holding a B.Eng. in Civil, Structural and Fire Engineering and a Ph.D in Risk-Informed Engineering both from the University of Manchester, UK, the risk expert is a fellow of the Engineering and Physical Sciences Research Council (EPSRC) and Specialist Member (SIRM) of the Global Institute of Risk Management. She is also a visiting professor at the University of Manchester, UK.
On a global scale, she has been recognised for her work with the Operational Risk Data Exchange Association (ORX), Institute of Risk Management, UK. She is also a member of the Lagos State Research and Innovation Council.
A workaholic of great repute, Adenike is known to draw inspiration from two men – her father, Chief Dele Fajemirokun and her boss, Alhaji Aliko Dangote.
Hailing her boss, Aliko Dangote in one of her interviews,” she said: “He is one of the most hardworking people I have ever met in my life, including people that I have studied to know why they achieve what they achieved. I don’t think I have seen somebody who works and hardly sleeps.”
“I have seen Alhaji Aliko Dangote in the boardroom a lot of times. He is a leader. He appreciates the value that everyone brings to the table, and he allows everyone to have a voice. That is the trait of a proper chairman as I have learnt from my dad. A chairman is not someone that bullies or bosses you with what he knows. He is someone that can take some of the knowledge in the room, knit it together and take a decision. For boardroom style, I would say, his is an inclusive style. Everyone feels like a family when you are in the boardroom with Alhaji Aliko Dangote. I say to people, Dangote is like a movement, not just a company. It is as if everyone in the organisation is moving in the same direction, because we all become like a family. Barring my father, I don’t think I have met anyone I know that works as hard as Dangote”.
She is a renowned Risk Management & Insurance specialist with over 18 years diverse experience in developing and implementing Risk Management Strategies in Financial, Engineering, Manufacturing and other industries.
She served in top management roles at Deutsche Bank AG, UK and Director of the Management Group for leverage finance at the Corporate and Investment Bank.
Dr. Fajemirokun holds a B.Eng. in Civil, Structural and Fire Engineering and a Ph.D in Risk Informed Engineering, both from the University of Manchester.
A fellow of the Engineering and Physical Sciences Research Council (EPSRC), and Specialist Member (SIRM) of the Global Institute of Risk Management.
At Dangote Industries Limited, her role is multifaceted beginning with her portfolio as GED Special Duties, to heading Procurement, Transport Management, Insurance, and Risk Management. Her position also entails managing the President’s Portfolio and Strategy which is dynamic and changes quite frequently based on the group’s mandate.
The various hats she wears predominantly involve solving problems as they arise. Finding effective solutions to tough problems is at the core of what she does.
She is a member on the board of AIICO Pension, AIICO Capital, AIICO Insurance and Food Concept? She chairs the AIICO Establishment Committee.
-TAYO OYEDIJI
(08111811219)
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