Henry Fajemirokun
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Henry Fajemirokun was a prominent Nigerian businessman and one of the country's dynamic indigenous entrepreneurs who promoted West Africa's economic integration. He was a former president of the Lagos Chambers of Commerce and of the Federation of West African Chambers of Commerce (1972-1978). He started business in the 1950's by exporting Hides and Skin, Rubber, Coffee and Shea Nuts.In the 1960's, he started a massive importation of cement from Egypt and Poland. He was helped in this venture, by a credit facility provided to him by a British Bank in London. He also ventured into Commodity brokerage, and in 1969, he bought and held a seat on the London Stock Exchange.
[edit] Henry Stephens
During the 1970's, as the chairman and largest shareholder of Henry Stephens group of Companies, he became a major shareholder in some leading companies in Nigeria. A move to diversify the wealth of the country from foreign nationals was taken in 1972, this led to the promulgation of an indigenization decree. Henry Stephens capitalized on the euphoria of nationalism and acquired or represented major foreign operations in the country. He became the sole distributor for Xerox, after Daily Times, a company he had tried to acquire a stake in, left negotiations with Xerox international. Henry Stephens also acquired stakes in Johnson Wax and Fan Milk. The company was also a pioneer in the Nigerian Maritime industry. It was one of the first Nigerian companies to own interest in a shipping line.
[edit] References
- Tom Forrest, The Advance of African Capital: The Growth of Nigerian Private Enterprise
