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The Inside Story: From a Chemist's Shop in Somolu — How Stella Okoli Built Emzor, and Why She Is Stepping Back Now

In 1977 Stella Okoli opened a chemist's shop in Lagos with ₦5,000, using her father's house as collateral. Emzor now makes more than 140 medicines and is building what it says will be sub-Saharan Africa's first plant for active ingredients. The story of the founder, as she steps back.

The Inside Story: From a Chemist's Shop in Somolu — How Stella Okoli Built Emzor, and Why She Is Stepping Back Now

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African Wealth Briefing — Tues., Oct. 20, 2026

African Wealth Briefing — Tues., Oct. 20, 2026

Nedbank has completed its NCBA takeover, paying the Kenyatta, Ndegwa and Merali families about $319 million. Aziz Akhannouch has left office in Morocco. Stella Okoli has stepped back from running Emzor. And Dangote's refinery IPO enters its final week.

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Deep-Dive Report: Morocco After Akhannouch — The Billionaire Prime Minister Leaves Office, and Where Morocco's Business Elite Is Putting Its Money

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