Emzor Pharmaceutical Company is a popular Nigerian company that is more of like a household name. Most Nigerians don’t know the name of the woman behind the company. In this post, we’ll be doing a biography of Madam Stella Okoli, CEO of Emzor Pharmaceutical Company.
Biography of Madam Stella Okoli, CEO of Emzor Pharmaceutical Company
Madam Stella Okoli was born in Kano in 1944. She hails from Nnewi in Anambra State. Shortly after her birth or early childhood, she was moved to southeast, Onitsha precisely, to start her education.
Stella Okoli was enrolled to All Saints Primary School, Onitsha, where she finished in 1954. She proceeded to Ogidi Girl’s Secondary School, Ogidi, where she finished in 1964. After her secondary school, she gained admission to study Pharmacy at Bradford University, United Kingdom.
She finished from the university in 1969, at the height of Nigerian Civil War, having gained her bachelor’s degree in Pharmacy. She didn’t stop in her education here, she proceeded to the University of London, where she secured her master’s degree certificate in Biopharmaceuticals.
After graduation, Stella Okoli worked briefly in the UK before returning to Nigeria. On her return to Nigeria, she worked briefly in a hospital before working in a Pharmaceutical Company as a Sales person. It was while working in Nigeria that she set out to start her entrepreneurship journey.
Madam Stella Okoli’s sojourn into entrepreneurship started with opening Emzor Chemist Shop in Shomolu, Lagos State, in 1977. From here, the business grew, expanded, and she formalized the business as a company in 1984. She went into importation and distribution of drugs as well. In 1986, she started production of drugs in Nigeria, believing in the wide call of production and entrepreneurship in Nigeria.
Her major success has been Emzor Paracetamol products which controls over 25% market share of its sector of drug. It continues to do so since the 90s that her products conquered the Nigerian pharmaceutical market. In addition, in the midst of growing her business, she also went on to study at Harvard Business School and Barcelona Business School.
Her company, Emzor Pharmaceutical Company, is splittered into different branches and arms, which makes money for the parent company. There is Emzor HESCO, for supply of health equipment and products; there is Zolon Healthcare Limited, for healthcare and treatment; and there is Emzor Pharmacy and Chemist Shop for direct sales and supply of drugs.
She sits on the boards of several companies, government agencies, and professional groups. She has received top national awards from the Nigerian Government. Furthermore, she has a foundation which trains and helps budding entrepreneurs since early 2000s. It is her on way of giving back to the society.
Madam Stella Okoli is happily married with grown up children. She lost one of her children in 2005. It was a painful experience for her.
What is the Net Worth of Madam Stella Okoli?
Her worth cannot be fully stated. However, she is worth around $500 million. Her company, Emzor, is one of the richest pharmaceutical companies in Nigeria.