After 33 Years, Afolabi Becomes Board Chairman, SIFAX Group


Dr Taiwo Afolabi


After working assiduously in the last 33 years to build and lead the company to become one of the leading conglomerates in Nigeria, SIFAX Group has announced the appointment of Dr. Taiwo Afolabi as the new Board Chairman of the company.


Afolabi, who was until this appointment the Group Executive Vice Chairman, replaces the former chairman, the late Olowu of Owu, Oba Adegboyega Dosunmu, who died on December 12, 2021.


Dr. Afolabi’s appointment takes immediate effect. According to Group Executive Director, SIFAX Group, Bode Ojeniyi, the appointment was a natural progression for Dr. Taiwo Afolabi, who has worked assiduously in the last 33 years to build and lead the company to become one of the leading conglomerates in Nigeria today.


He said: “His choice was unanimous among the board members. Dr. Taiwo Afolabi has given all his resources – financial, goodwill, mental and social capital, among others – to see that the company continues to return impressive business growth and profitability year on year.


The success story of the company cannot be divorced from his rigour, leadership, strategic thinking and foresight. Taking all these into account, the board found him worthy of this appointment for sustained entrepreneurial leadership and better service delivery to our clients as well as improved returns to all stakeholders.”


While accepting the appointment, Afolabi said his immediate goal would be to drive the five-year strategic growth plan of the company to a logical conclusion.


He said: “The company has, without doubts, achieved so much, but there are still so much grounds to cover. Interestingly, my appointment coincides with the midway point of our five-year strategic growth plan designed to improve the profitability of our various businesses and expand to new territories both locally and internationally.


“We are already doing well with this growth plan and we will see if there is a need to recalibrate our approach and deliverables for an improved performance. I am confident that with the quality of human resources on the board as well as the cooperation of all our stakeholders, we will position SIFAX Group well for its next growth phase and achieve its mandate.”


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