Olajumoke Akinwunmi is the acting chairman of Purple following a change in the composition of the board of directors of the real estate investment and development firm.
The change, according to authorities of the firm, came as a result of the retirement of its former chairman and independent director, Olutola Mobolurin, who occupied this position for nine years, “helping it grow from a start-up to a group of companies with total assets of N25 billion.”
Mobolurin, who will be paving the way for Purple’s 2022 strategic plan to grow its total assets to N75 billion in the near term, will also continue as Advisor to the company’s Board as it takes necessary steps to grow its total assets.
The new (acting) chairman, whose appointment took effect from January 1, 2022, continues in her role as an independent director. She is bringing over 25 years of experience in the real estate sector as an architect, investment, and development manager to bear on her new position.
Akinwunmi is co-founder of Alitheia Capital Limited, a Nigeria-based investment advisory, and management firm. In the past decade, the firm has made investments that promote financial inclusion through a financial services fund, encouraged environmental sustainability through a clean energy fund, and is currently managing a US$100 million gender-focused SME fund, and providing growth capital to women-owned/led businesses.
She was in public service at different times and, during this period, was interim-Managing Director of the Family Homes Funds, a N500-billion Federal Government intervention fund with a mandate to stimulate the economy through housing delivery.
Akinwunmi also served as Director-General of the Ogun State Bureau of Lands and Survey, Special Adviser on Housing Development, and General Manager of Ogun State Housing Corporation.
Purple also named two other independent directors. They are Fiona Ahimie and Seyi Sowale.
Ahimie is the current managing director of FBNQuest Securities Limited, a subsidiary of FBNQuest Merchant Bank, a subsidiary of First Bank of Nigeria Holding PLC. Before this role, she was the managing director of African Alliance Limited, a South African Investment banking firm. Ahimie has worked with Lead Capital and Stanbic IBTC Bank in varying capacities.
On her part, Sowale served as the group chief financial officer and chief operating officer of Purple.
She remains on the Board of Purple and has now been reassigned as executive director of finance, strategy, and commercials.
She is a results-driven senior accounting and financial management executive with close to two decades of experience in finance operations and management within start-ups and large organizations.
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Other members of the Board of Purple are Muhtar Bakare, Nnamdi Obi, Hilary Onyiuke, Adedoyin Afun, Olatunbosun Omoniyi, and the deputy chief executive officer, Obinna Onunkwo.
Olaide Agboola, the chief executive officer, Purple, and its subsidiaries, said the Board of Purple was delighted to have these highly skilled and respected persons, led by Akinwunmi, continue with the other members of the Board as Purple drives towards a greater growth period.
As a specialist investment firm with businesses in financial services and real estate and lifestyle, Purple opened for business in 2014. It is the developer of Purple Maryland (previously Maryland Mall), a Grade-A mixed-use development.
The firm is morphing into a tech-powered real estate investment and financial services company, deploying technology-driven solutions like Fractions (PropTech), towards removing the barriers to accessing home ownership and world-class commercial retail opportunities for retail investors.
