The founder of Aruwa Capital Management, Adesuwa Okunbo Rhodes, has dismissed the notion that she is a billionaire despite revealing insights into the scale of investments she manages, insisting that wealth creation comes through identifying opportunities rather than personal fortune.
Rhodes made the clarification during a street interview with James of the popular platform @schoolofhardknocks, which has gone viral on social media, attracting millions of views and sparking discussions about investing in Africa, wealth creation and overcoming barriers in finance.
Taking to her X handle after the said interview went viral, she wrote, “Iām not a billionaire. I didnāt expect to be someone heād want to interview. But these moments donāt knock twice so I said yes.
“The favour of God is real, and it rarely arrives on schedule. The police were acting but the message remains – To God be the glory, Jesus is real šš¾.”
The interview was filmed outside the Aruwa office in Lagos after what Rhodes described as an unexpected encounter. In a post on X, formerly Twitter, she explained that she had initially invited James to her office to hear about his entrepreneurial journey. After their meeting and a few photographs, he left but later returned with a camera to request an interview that would eventually capture widespread attention.
Speaking about her career, the 36-year-old investor said she has spent about 12 years in the private equity industry. Asked about her most successful year, she disclosed that she managed approximately 80 million dollars in investments in a single year, a revelation that left the interviewer visibly surprised.
Despite her achievements, Rhodes said her journey into private equity was marked by years of setbacks. She revealed that it took her eight years to raise her first investment fund because of repeated rejections.
“A lot of rejection,” she said. “People always told me that I couldn’t make it in private equity because I was young, I was Black, and I was a woman.”
Rather than allowing those experiences to discourage her, Rhodes said she embraced a mindset that encouraged creating opportunities instead of waiting for acceptance.
“If someone is not inviting you to that table, create it yourself,” she said.
Sharing advice for younger people seeking financial success, Rhodes stressed the importance of persistence.
“A river cuts through rock not because of its power, but because of its persistence,” she said, adding that “99% of success is refusing to take no for an answer.”
She also challenged conventional thinking about education, saying a university degree is not essential for building a career in private equity.
“You don’t need a degree to get in. All you need is human connection,” she said, emphasising that relationships and networking matter more than academic qualifications alone.
Rhodes used the interview to encourage greater investment in Africa, arguing that international investors often focus on perceived risks while overlooking the continent’s long-term potential.
She noted that by 2050, one in every four people in the world will be African, while Nigeria is projected to become the world’s third most populous country.
“If you’re not investing in Africa, you should be,” she said.
Asked which sector currently presents the greatest opportunity, Rhodes identified Africa’s informal economy, particularly women running small businesses that sell everyday essentials such as milk, bread, water and soft drinks.
She pointed out that many of these traders remain outside the formal banking system and described the sector as a largely overlooked investment opportunity.
“This is a 1 trillion (dollar) opportunity,” she said. “Nobody’s talking about it. If you find businesses that are enabling the informal economy, you’ll be a billionaire.”
Rhodes also spoke about the role of faith in her journey, attributing her success to divine guidance.
“I believe in God. I believe in Jesus,” she said. “Without the doors that He opened, there’s no way I’m standing here talking to you today.”
