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Nigeria’s Sanmi Adegoke sets record, wins big at the 2021 UK Property Awards

by Admin
January 21, 2026
in Finance

• The first black recipient Of Entrepreneur of the Year awards in the UK real estate market

 

Sanmi Adegoke , CEO of Rehoboth Property International (RPI), has become the first black recipient of the Property Awards Entrepreneur of the Year award which he received at this year’s ceremony held at the Intercontinental at the O2, London.

Property Week is one of the biggest property publications in the UK and this award category is the highest in the property industry. Celebrating 25 years of the ceremony and Sanmi, being one of the first black recipients of this award, speaks volumes of the milestones he has achieved over the years.
The year 2020/2021 has been an incredible yet unprecedented year for Sanmi and the team at Rehoboth Property International (RPI). Over the years, Sanmi has demonstrated to the business and property world his unique entrepreneurial flair, vision, and innovation within the UK commercial property scene. Legacy is at the core of Sanmi’s ethos and he strongly believes in creating an ecosystem for black businesses.
Expressing his thoughts on receiving the award, Sanmi said, “As a business, we are familiar with the barriers minority ethnic groups face and the importance of representation, therefore this is something we advocate for in our dealings to ensure there’s a level playing field for everyone. If I can, you can. As a man thinketh in his heart so he, therefore, if you can think it, you can certainly be it”.
During the peak of the pandemic, they managed to complete an astounding development, secure deals all around the UK, and contribute towards the narrative of black ownership.

Nigeria's Sanmi Adegoke sets record, wins big at the 2021 UK Property Awards


Developments like The Hill Hub serve as a place for entrepreneurs and creatives to thrive, collaborate & ultimately be successful. The Hill Hub is an award-winning private office and co-working space that was converted from an old police station in Dartford. Completed during the pandemic and despite a number of barriers throughout this process, Sanmi and the RPI team persisted by getting planning permission and also completing it. The Hill Hub is the fruition of the hard work, labour, and tenacity seen throughout Sanmi and the RPI team.
Featured on the likes of BBC, Property Week, The Times and The Voice magazine; also participating in various panels at this years’ UK Black Business Show and partnering with top global investors from the diaspora, the only way is up for Sanmi and RPI’s countless works in the industry. He is keen on showcasing his love for the rich culture of Africa and demonstrating this through his actions.

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Methane rules spread across 67% of global production as Nigeria faces compliance test 

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October 17, 2026
Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

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