Fola Laoye: Transition from Accounting to Healthcare Investment
Fola Laoye, a former accountant, made a remarkable transition into healthcare investment, playing a pivotal role in addressing the funding challenges in Africa's healthcare sector. Over two decades, she led initiatives that attracted private equity investors and development finance institutions, raising over $100 million in capital for African healthcare.
As Africa's population grows, the healthcare sector is expected to reach $259 billion by 2030, with the potential to create 16 million jobs. Fola Laoye stands as a driving force for healthcare funding.
Today, Fola is the co-Founder and CEO of Iwosan Investments Limited, which owns Iwosan Lagoon Hospitals, a prominent healthcare facility.
Birth And Educational Journey
Fola's journey began in Lagos, where she pursued a career in accounting after her brother's influence. She worked with Ernst & Young and Coopers and Lybrand in London, obtaining her ACA certification. Her education includes memberships in the Institute of Chartered Accountants in England & Wales and the Institute of Chartered Accountants of Nigeria.
Changing Course to Healthcare
While pursuing an MBA in the USA, Fola researched the HMO model and later applied her findings to Hygea Nigeria Limited, a private healthcare company started by her parents. In 1999, she joined Hygea, becoming CEO at age 32. Under her leadership, Hygea provided access to healthcare for over a million Nigerians, launching various health insurance schemes and attracting international subsidy funding.
In 2016, Fola transitioned into healthcare private equity, serving as the Director of Investment Fund for Health in Africa. In 2018, she founded Health Markets Africa, focusing on advisory and investment services within the healthcare industry. She currently serves as CEO.
Fola's influence extends to board memberships and leadership roles in organizations such as Old Mutual Life Assurance, PAL Pensions, and more. She has received recognition from the World Economic Forum and the Harvard Business School Africa Business Club.
Beyond her professional achievements, Fola enjoys sports, networking, and angel investing, supporting entrepreneurs in their capital deployment endeavors.
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