Despite facing systemic barriers and discrimination, there are some women who have continued to break through glass ceilings, being at the forefront of innovation and business success and paving the way for future generations. One of these is Dr. Stella Chinyelu Okoli. Aside from leading the way to economic freedom, this pharmacist turned entrepreneur is more concerned about the wellbeing of every soul, thus her commitment to world-class pharmaceutical products and services.
At 81, one would have expected the Nnewi, Anambra State-born businesswoman to have relaxed a bit to enjoy the return on her almost five decades of multi-billion naira investment in Emzor Group. But this woman is untiring as she still engages in various mega industrialization projects. Her recent one is the N35 billion Active Pharmaceutical Ingredients (API) manufacturing plant in Sagamu, Ogun State.
Despite significant risk associated with manufacturing of pharmaceutical products in the country, Okoli has put all she gets into the new multi-million dollar plant occupying more than 60 hectares of land. The new state-of-the-art pharmaceuticals factory was set up to combat the pervasive threat of malaria in Nigeria and sub-Sahara Africa. It is slated to begin full production in the fourth quarter of this year with the capacity to produce 400 million metric tonnes of quality APIs annually. This will mark a significant step toward reducing Nigeria’s reliance on imported medicines and creating thousands of direct and indirect jobs.
Founded in 1984, Emzor has grown from a small retail pharmacy, which Okoli started in1977, into one of Nigeria’s most respected pharmaceutical companies. Her success has also placed her among Africa’s wealthiest women, with an estimated fortune exceeding $80 million.
