Akotex Nigeria’s Henrich Akomolafe’s Journey to Forbes Africa
Co-Founder, Akotex Nigeria Limited, Henrich Akomolafe

Several weeks ago, Forbes Africa released the fifth edition of its 30 Under 30 List of exceptional young Africans. The list, which attracted global attention, had young individuals who are exploring various sectors of the economy, hence, contributing positively to the development of Africa.

Among the few young minds included in the business category of the list is 26 years old Henrich Akomolafe, the face of Akotex Nigeria Limited, a company with a business focus on the elevator and escalator industry, and subsidiaries in construction, real estate, as well as robotics and artificial intelligence.

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His presence in Nigeria’s business sector has been a source of inspiration to young entrepreneurs. He has achieved this feat in a country where people hold the belief that one can only be successful at the age of 40 and above in specialised fields such as the engineering or real estate sector. 

Akomolafe’s experience cuts across engineering, real estate, construction, and information technology. His modest success has affected not just his organisation, but Nigeria as well. It is in this light that Nairametrics found it needful to host him on this week’s Founders’ Profile.  

Educational background and career milestone 

Born on 1st October 1992, Akomolafe had his primary education in Shining Star and New Capital, both in Abuja. He started his secondary school education at Government Secondary School (GSS) Bwari in Abuja but later moved to Ado-Ekiti, where he completed his secondary school education at Jokotayo Academy. 

In 2015, Akomolafe graduated as a computer engineer from Kharkiv National University of Radioelectronics, Ukraine. The following year, he obtained a Master’s Degree in Information Technology Strategic Management from Barcelona School of Management (BSM) – Universidad Pompeu Fabra, Spain.

Akotex Nigeria’s Henrich Akomolafe’s Journey to Forbes Africa
Henrich Akomolafe pictured with his sister at his graduation in Ukraine

Akomolafe acquired engineering, as well as business management experience in 2016 from MP Ascensores Sevilla, Spain where he served as an intern. He has since been committed to putting his experience to good use in Nigeria’s elevator engineering industry. 

Akomolafe, who hails from Ado-Ekiti, started his career in the elevator industry in 2016, at a time Nigeria slipped into recession. He assumed the position of the Managing Director of Akotex Nigeria Limited. 

His journey into business 

Akomolafe was introduced into business as a child. All thanks to his father who co-founded Akotex with him. In a recent interview, he confirmed that his business journey started as a child when his family began Akotex Potato Flakes.

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He discovered his purpose early in life and this made him develop a great interest in the study of economics.  

“Since I knew I had a flair for business, I had wanted to study economics, but things changed in the university and I had to study engineering,” Akomolafe said. 

Even as a computer engineer, he went ahead to take further studies in business and management. 

His work with Akotex Nigeria Limited 

Akotex Nigeria Limited is a firm that deals in the delivery of elevator and escalator engineering services. 

Akotex Nigeria’s Henrich Akomolafe’s Journey to Forbes Africa
Henrich Akomolafe pictured in between two others, who made the cover of Forbes Africa’s business category of 2019’s #30Under30

Under Akomolafe’s leadership, the company has generated remarkable profits and has also established new business lines such as BNR, a real estate and construction company, and M7R, an Information Technology company. 

Driven by the desire to succeed, Akomolafe has been able to secure contracts with Federal Government ministries and agencies, such as the Federal Inland Revenue Service (FIRS), the Federal Airport Authority (FAAN) and the Ministry of Foreign Affairs (MFA). 

Similarly, Akomolafe also secured contracts from the University of Port Harcourt (UNIPORT), Imo State University (IMSU), University of Maiduguri (UNIMAID), Kwara State University, and others through intervention projects from the Central Bank of Nigeria (CBN), and Tertiary Education Trust Fund (TETFUND). 

Akotex Nigeria, in this year alone, has bagged many projects which have increased its maintenance services. With the intention of expanding the business, Akomolafe converted the profits into creating housing for young entrepreneurs. In simple terms, he sells elevators, uses the returns to buy lands, designs and builds houses on them, and then sells them.

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Furthermore, Akomolafe created a digital payment option which fosters blockchain adoption among people with the aim of contributing to his community. 

At this point, it is safe to say that the computer engineer is now a businessman who is taking giant strides in different sectors of the economy. 

Akomolafe’s family life 

Akomolafe, who is not yet married, is the third child in a family of six children. 

Coronation Research
Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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