Childhood Friends Leave Major Corporations To Build 8-Figure African Supply Chain Business

Their experience helped them identify gaps in the chemical supply chain serving African manufacturers.

Childhood friends Taiwo Ilesanmi and Gbenga Akanmu left careers tied to two of the world’s largest chemical companies to build an African chemical supply chain business that has increased its revenue by 1,400% in four years, according to Business Insider Africa.

The entrepreneurs founded Alliance Chemicals Global in 2022 after gaining experience at BASF and Dow Chemical, respectively. The company, which supplies commodity and specialty chemicals to manufacturers, reached eight figures in annual revenue by 2026, according to the outlet.

Ilesanmi and Akanmu grew up on the same street in Ibadan, Nigeria, before pursuing careers abroad. Ilesanmi moved to the United Kingdom and worked in management consulting at KPMG before joining BASF. Akanmu relocated to the United States, where he worked in technology and financial services before entering Dow Chemical’s finance leadership development program.

Their experience helped them identify gaps in the chemical supply chain serving African manufacturers. Alliance handles sourcing, quality assurance, inventory, storage, and delivery rather than operating solely as a chemical distributor.

“We call ourselves a chemical supply chain company,” Ilesanmi told the outlet. “There’s a big difference between what we do and what a trader does.”

Launching the supply chain company required substantial capital. The founders invested more than $200,000 of their own money before raising additional funds from friends and family. Alliance later secured institutional capital, including an investment from Africa-focused venture capital firm Oui Capital.

The company has since recorded significant growth. Akanmu told the outlet that revenue increased roughly fivefold during its first year and grew 1,400% between its first and fourth years.

Ilesanmi and Akanmu are now looking beyond chemical imports and distribution. Alliance plans to begin blending products and expand into manufacturing at the Lagos Free Zone, with two product lines expected to begin operations in January 2027.

The company employs 45 people and plans to increase local production of chemical inputs, a move aimed at reducing its reliance on imported products.

“We may not see the full reward this decade,” Ilesanmi told Business Insider Africa. “But we’re building for the long term.”

RELATED CONTENT: Managing data center construction supply chains