Another christian female entrepreneur is Alakija from Nigerian. She quit her job as a secretary to pursue Fashion design in England and returned back to Nigeria to start Supreme Stitches, a premium Nigerian fashion label which catered exclusively to upscale clientele.
The business became successful and in May 1993 Alakija invested some of her fortunes to apply for an allocation of an Oil Prospecting License (OPL) to explore for oil on a 617,000 acre block. The application was successfully granted to Alakija’s company, Famfa Limited.
Folorunsho Alakija entered into a joint venture agreement with Star Deep Water Petroleum Limited and appointed the company as a technical adviser for the exploration of the license. From the equity released to Star Deep, Folorunsho Alakija and her family now owned 60 percent.
Folorunsho Alakija is the founder of the Rose of Sharon foundation, a Christian-based charity which gives out small grants to widows. In 2013, it is indicated the she replaced Oprah Winfrey to become the richest black woman in the world with an estimated $1.88b net worth.