Rasaq Akanni Okoya is a billionaire industrialist and Aare of Lagos. He had his only formal education at Ansar-un-deen Primary School, Oke popo, Lagos. He is the owner and founder of Eleganza group of companies, which has a market spanning Western Africa.
How He Rose From A Small Scale Tailor A Billionaire Industrialist
Rasaq Okoya is a yoruba man from the south-western part of Nigeria born on 12 January 1940. He worked with his father’s tailoring business which also included the sales of tailoring accessories.
The experience he got gave him the confidence to start mini tailoring activities on his own. He saved every penny he made until he had 20 pounds. His mother gave him the extra 50 pounds, with the blessings of his father, he needed to start importing and trading goods from Japan.
Razak Okoya’s business expanded swiftly, he travelled far and wide and learnt how things were manufactured having the strong feeling that Nigeria could match that quality if not better.
His first wife, Kuburat Okoya, was obsessed with costly jewellery and he was always baffled at how much she said they cost. He strongly felt the prices were outrageous since the metals could be designed at a cheaper price and the metals were readily available in Nigeria. Challenged his perceived healthy demand, he travelled abroad, bought the machines. That marked the birth of Eleganza Jewelry. The success was phenomenal. They could not keep up with the demand because, the products were beautiful, durable and cheap. They were instant best sellers. He also started manufacturing buttons and jewellery.
He began the importation of shoes in large quantities, subsequently. On one of these occasions, the shoes were not delivered despite his payment. He travelled to Italy to see the manufacturer only to discover that they had used his money to settle their bills. He was so angry that he decided there and then to start manufacturing his own shoes. He imported all the machines and brought in some experts who trained his workers.
Today, under his Chairmanship, the Eleganza Industries produces a wide range of household goods and utensils including cutlery, collieries, food warmers, ice chest, electric fan, cosmetics and ballpoint pen. His factory locations include, Oregun-Ikeja, Isolo, Alaba and Iganmu, the Company now directly employs over five thousand Nigerians and non-Nigerians including those working in his RAO Property Investment Company. Okoya’s Eleganza Group is one of the biggest homegrown conglomerates in Nigeria today, with over six factories, and its products are household names in Nigeria neighbouring African markets.
He was awarded the Lifetime Achievement Award as Business Entrepreneur of Our Time from Thisday Newspapers.
Rasaq Okoya has had a number of wives in the past. They have come and gone but only one hasn’t. Folashade Okoya is very hard working and very loyal which is one of the main reason Rasaq is in love with her, he claims his other wives where lazy and did not work nor cook meanwhile shade does. They have been together for 18 years and have had four beautiful kids(olamide,oyinlola,subomi,wahab).
Folashade has also been honored with a lot of award and i a fashion icon and role model to all
The post Razaq Okoya: The Small Scale Tailor Who Became A Billionaire Industrialist appeared first on Nigerian Celebrity News + Latest Entertainment News.
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