Folake Soetan


Folake Soetan is the Chief Executive Officer of Ikeja Electric Plc, the largest electricity distribution company in Sub-Saharan Africa. Folake began her career in the Aviation Sector working British Airways and Virgin Nigeria as the Head of Sales. She joined Sahara Group in 2009 and worked in one of its key entities, SO Aviation in Ghana as the Vice President, Downstream - West Africa and led the expansion of the downstream market share beyond the shores of Nigeria and into Ghana, one of the fastest growing economies in Africa.

Folake commenced her transformational journey at Ikeja Electric when she joined as Deputy Chief Commercial Officer and soon rose to become the Chief Commercial Officer. She commenced what will become one of the most transformational changes in the distribution end of the power sector in Nigeria. Her achievements helped elevate her to the position of Chief Operating Officer. In this role, she was responsible for developing and implementing strategies to increase customer growth, reduction of energy losses and aligning the major operating departments of the business towards a common strategy.

Folake became CEO in 2020, leading a team of a team of over 3,200 employees in the next phase of power sector transformation, which involves increased power distribution, technological transformation, and digital monetization. She has continued to lead the industry in loss reduction, metering, innovation, and sustainability.

Folake is an alum of Harvard Business School where she studied Advanced Management, a graduate of banking and finance from the University of Lagos and continues to participate in several leadership programs to equip her with the skillset required to transform lives and businesses sustainably.

An astute advocate of leading with empathy, Folake is committed to influencing and actively contributing to the development and growth of women in STEM and mentors several young men and women looking to build successful professional careers in the power and oil & gas sectors.  She is on the Board of Women in Energy Network and contributes widely in ensuring that the organization meets its goals.