My mother sold her land, jewellery to fund my education — Financial firm founder

VICTORIA EDEME speaks to investment banker and founder of Woodhall Capital, Mojisola Hunponu-Wusu, about her family and career journey

Could you tell us about your childhood?

I am the first of five children. My childhood was predominantly in Nigeria, and when I was 15 years old, I moved to the United Kingdom. I grew up with a mum who was an entrepreneur. From how I was brought up, a woman not working was not an option in my reality. I’ve always known that I had to work and be a support system, mentally, emotionally, and physically, for my family.

What impact did growing up with a single mum have on you?

Realistically, it has been a huge influence on me to date. Growing up with a single mother made me realise that there were no excuses. There’s no excuse not to stand up and start again if you’ve had a setback in a marriage, job, or anything. Setbacks happen, and you can’t plan the whole of your life. However, you have an option of what you choose to do with it afterward. My mum also brought us up in a very ethical way. She used to say, and still says, that when you suffer a setback, you pick up the pieces and don’t go on a pity party. It’s been a huge influence on me because my mother always made me understand that I must behave and comport myself in a way that people don’t come back and say it’s because my parents didn’t stay together. It’s been a huge guiding force in my life.

Could you please walk us through your educational journey?

I completed my primary and part of my secondary education in Nigeria, then finished secondary school and attended university in the United Kingdom. I went on to work and then moved back to Nigeria in 2008.

Could you tell us about your career journey?

I started my career in investment banking at BNP Paribas. I’ve worked at several banks, including Credit Lyonnais and Skye Bank. I graduated in 1999 and spent most of my 20s working in various roles within the investment banking sector. In 2008, I was hired to work at a Nigerian commercial bank.

How did your professional experiences shape your decision to establish your own firm?

I set up an International Funding department for the bank where I worked. In 2014, I decided to establish a firm that could fund not just one bank but several financial institutions. I wanted to provide this service across the industry. So, I founded an International Funding firm called Woodhall Capital, which raises international funds for banks, large corporates, sovereigns, and sub-sovereigns in Nigeria and across Africa.

How would you describe your experience so far as the founder of a financial advisory firm?

It’s been very interesting. I love what I do. Incidentally, I discovered a few years ago that what I do now is exactly what I wrote my dissertation on, ‘Attracting Funding into Africa from International Investors’. I’ve had my ups and downs. I lost my job in 2010 and had to start all over again. There have been many highs, such as raising funding for corporates and banks, and seeing the impact of what you’re doing in the African space is so fulfilling. However, I’ve also had downtimes, especially when trying to prove to these banks that you can raise funding for them.

What were the key challenges you encountered during the establishment of your company?

I started small. I didn’t have an office, so I worked out of a café for the first few months. As we closed transactions, we used the fees to get an office and, with the next transaction fee, we bought furniture. I built this company from scratch. The biggest challenge is human capital: trying to identify the right skills for what we do and seeking people who have a spirit of excellence. It’s an ongoing exercise. Every company, even international firms, faces this challenge. It’s always difficult to identify the right skills and the right people to work with you.

What was one experience you had growing up that influenced what you have become today?

Growing up with my mum has always been a significant part of my life story. Seeing how a woman wakes up and decides that she’s going to live a life comparable to anyone else’s was influential. I watched my mother sell land and jewellery to ensure we could attend the best schools. I greatly admire her. She is my number one mentor, and I look up to her. At 74 years old, she is currently trying to build a refinery.

Another major experience was a setback I faced when I lost my job. It made me realise that life has twists and turns. In my twenties, I was very successful in my career and hadn’t experienced a major setback until then. Losing my job forced me to start all over again. It was at this point that I discovered my potential as a businesswoman. I was forced to think outside the box and consider the possibility of building a successful global business. We now operate in three different countries.

What was your dream? Do you see that dream being manifested now?

Growing up watching my mother’s entrepreneurial journey, I found myself drawn to a different path. Just as my children now express their aversion to banking, I felt compelled to steer clear of business. Instead, I wanted to become the Global Head of an International Bank. I desperately wanted to achieve this, making strides towards it until I moved to Nigeria, where I unexpectedly lost my job.

You keep referring to the moment you lost your job. Could you tell us about the impact of that incident on your life?

The reason this topic keeps resurfacing for me is because it marked a pivotal moment in my life — the transition from being an employee to becoming an employer. I’ve experienced two distinct phases: one dedicated to climbing the career ladder and the other where I am now, both an employer and a business owner. As a business owner, I find myself pressing a different mental button daily. Now, I’m deliberating over who should accompany me on business trips and what unique value they can bring. It’s a delicate juggling act between these two perspectives that guides my responses to your questions. I address the career aspect because some readers aspire to ascend their career paths, while I also provide insights from a business standpoint for those seeking to understand my role as a business owner. They often ask how I summoned the courage to start a business despite the challenges I faced. Much of my time is spent instilling that same sense of boldness in them once they sense that the time is right to embark on their entrepreneurial journey. Many women traditionally don’t see themselves as business owners. We view ourselves as traders, involved in buying and selling, but not as structured business owners or conglomerate owners. So, I’m just helping people visualise themselves as trailblazers like Aliko Dangote, capable of diversifying their ventures from one sector to another.

When did you get married? And what impact has your marriage had on your career?

I got married in 2005. I’ve been married for 19 years. I was with my husband for 10 years before that, so we’ve been together for 29 years. We met at a boarding school in London. For someone like me, an entrepreneur but also quite emotional and a homebody, having an extremely supportive husband is non-negotiable. I travel a lot and work long hours, dealing with the highs and lows of running a business, particularly in high finance and investment banking where we structure financial transactions. I need to have a best friend who is on the same wavelength as me, mentally, emotionally, and intellectually. So, my marriage has been a huge support network and system for me.

As a wife and mother, how do you manage your home and company?

I’m a mother of three and married to my friend, which makes it easier to balance both. For example, if I have to leave the house at 7 am and I’m unable to do certain things in the morning, it’s not an issue because there’s a free flow of communication between my husband and me. It certainly makes it easier when the person is in tune with what you’re doing, knows where you’re going, and is aligned. When you have an aligned vision, it then helps you manage things a bit better. I sometimes work very early or very late. On the days that I work late, I tend to leave the house a bit later the next day so I can have some time with my husband. We try to wake up together at 5 am. have a family time of prayer, and then start our day. We have breakfast together, and I usually start my day around 10 on those mornings. Sometimes, we go for a walk, exercise together in the morning, and catch up on the different things that we’re doing for the week, discussing our family vision. We also catch up with the kids, talk about them, and chat about our children. We call them sometimes in the morning and see how they are, depending on where we are in the world. My children know that we are ‘partners in crime’, me and their dad. So, we try to catch up with them, catch up with ourselves, and build our spiritual life.

In an interview, you mentioned that you hadn’t cooked for your husband in almost 20 years of marriage. How have you been able to manage that?

What I meant to convey is that I haven’t personally cooked for myself, my husband, or anyone else. There’s a sacrifice inherent in being a woman in my position. Early in your career, as a woman, you must reckon with the cost of working at top executive levels. You may not always have the time, or as much as you’d like, to tend to certain things on the home front. It’s a trade-off, one that ideally involves a partner, husband, and children who understand. That’s what I wanted to bring to the fore. For the first 10 years before we got married, cooking was part of my life; we essentially grew up together. It’s possible that when my investment banking career became more demanding, I began to pay the price for it. Cooking has never been a central aspect of our relationship; it was never a topic of discussion. It’s considered a life skill but not a focal point of our dynamic. We have established routines for meals, and we simply follow them. I’m fortunate to be married to a very understanding man, so these things naturally fall into place. I’m trying to stress the price that women pay at the executive level.

What are your thoughts on the place of women in the financial industry?

Women are achieving many remarkable feats. Many may remain understated because I believe women are taught to excel without necessarily seeking the spotlight. There are numerous women in finance accomplishing exceptional feats. Not all are widely recognised or in the public eye. Many women have established their own companies. I know a few who are currently endeavouring to establish banks, which is very encouraging.

Have there been any instances where you felt belittled because of your gender?

If such situations occurred, I wouldn’t have been aware because I prioritise values. If any instances did arise where someone looked down on me, in my interactions with them, they would recognise that I am focused on delivering and enhancing value in any client engagement. From a professional standpoint, I haven’t encountered such issues.

Who is your mentor and why?

I have several mentors who serve different purposes. Some provide mental support, particularly when I am contemplating steps that might intimidate others and push me beyond my comfort zone. They assist me in shifting my mindset to break barriers and exceed expectations. Additionally, I have mentors who help me stay aligned with our processes and objectives. I also have spiritual mentors who remind me that all I have comes from God. One of my mentors is Mrs. Laolu Adefarasin, whom I’ve known since I returned to Lagos. She has supported me through many challenges and the journey of building Woodhall Capital. She believes in me. Another mentor is Mrs. Kanayo Awani, a visionary who encourages me to build and scale Woodhall Capital. I am fortunate to have several mentors who are transparent about their initiatives and projects, which motivates me to strive for excellence.