40 Under 40: James Fabola Acquired IT Degree for His Parents, Then Chased His Dream

James Fabola’s journey to becoming a key player in Africa’s renewable energy sector was anything but straightforward. With a natural affinity for numbers and a strong academic foundation, it seemed like his path was clear. But as with many great stories, life took him in unexpected directions, shaping his career in ways he hadn’t originally planned.

Today, Fabola is not just making a name for himself in finance and clean energy, but he’s also leaving a legacy that goes beyond profit, one focused on impact, education, and opportunity.

The Early Journey

Fabola’s love for numbers was evident from an early age. “People around me noticed my affinity for numbers early on,” he recalls, crediting teachers and mentors for steering him toward a career in the sciences.

When the dot-com boom happened, he thought pursuing a degree in information technology would be a natural fit. However, by his third year as an undergraduate, it became clear that IT wasn’t his passion. “I hated it,” he says frankly, adding that what kept him going was his determination to finish strong, graduate with first-class honours, and avoid disappointing his parents.

It wasn’t until his service year in 2010, in the wake of the 2009 global financial crisis, that Fabola’s interest in finance was sparked. “I was fascinated by the global impact of decisions made by a select few,” he recalls.

That interest led him to pursue an MSc in Finance and Management at Cranfield School of Management in the UK. The experience was transformative, providing him with the skills and knowledge that would set the foundation for his future in finance.

Carving a Niche in Development Finance

Post-graduation, Fabola joined a private equity fund where he honed his skills in investment analysis and strategic execution. But it was his transition to a Development Finance Institution that truly defined his career trajectory. “I streamlined my focus, evaluating opportunities in manufacturing, agribusiness, and renewable energy,” he explains. Alongside his work, he also took on leadership roles in mentorship and stakeholder management.

However, the Covid-19 pandemic brought a period of self-reflection, pushing Fabola to finally pursue an MBA from INSEAD in France – a dream he had long harboured. While the experience was valuable, he admits he was perhaps too focused on the degree itself.

“In retrospect, I probably missed out on a more rounded experience,” he says with a laugh, noting that the student loan repayments was a constant reminder.

The Leap into Renewable Energy

Post-MBA, Fabola joined a pan-African clean energy VC fund, leading investments in solar home systems and commercial and industrial energy solutions. It seemed like a natural progression for someone with his background in finance and development. But mid-last year, the opportunity to transition from investment to operations presented itself. Arnergy, a company Fabola had previously invested in, invited him to join their management team as Chief Financial Officer.

“Renewable energy found me, not the other way around,” Fabola says, reflecting on the unexpected turn his career took. Moving from the investment side to operations wasn’t an easy transition, but it was one he embraced wholeheartedly.

A Work Ethic Rooted in Passion

Fabola credits much of his success to his strong work ethic, something he believes has been critical in an increasingly competitive world. “There are a lot of factors you can’t control day-to-day, but one thing you can control is how you approach work,” he says. His approach is, ‘start early, give it your best, and stay focused on strategic objectives.’

His passion for hard work is driven, in part, by his upbringing and the positive influences he’s had throughout his career. “A lot of the credit goes to my parents and mentors,” Fabola adds, noting that their guidance has been instrumental in shaping his professional ethos.

The James Fabola Jr. Foundation

Fabola’s commitment to education and opportunity isn’t limited to his own success. In 2019, he launched the James Fabola Jr. Foundation, which provides scholarships to exceptional secondary school and university students.

“I’m a big believer that a good education is the best launch pad you can give someone,” he says, pointing to the sacrifices his parents made to prioritise his education. The foundation is his way of paying it forward.

Additionally, Fabola has been providing interest-free microloans to female petty traders in Kogi State, where he grew up. “My grandmother raised seven children from farming and petty trading,” he explains. “I bet she could have used some support along the way.”

His microloan initiative has so far disbursed over 5 million Naira to more than 100 women, offering them a lifeline to grow their businesses and support their families.

A Candid Leadership Style

When asked about the most unconventional approach he’s taken in his career, Fabola points to his direct communication style. “In a world that favours political correctness and vagueness, I take great pride in being candid,” he says.

Whether it’s with colleagues, customers, or stakeholders, he believes that being direct has earned him trust and respect. “People know they can rely on me and trust what I say.”

Fabola’s leadership philosophy centres around participation and collaboration. “I like to get into the weeds with people, making them feel like part of the vision,” he explains. He believes that leading from the front fosters a sense of belonging and buy-in, especially in an environment where middle management is often stretched thin.

However, he’s quick to note that leadership is also about delegation and motivation, ensuring that everyone feels empowered to contribute their best.

Wealth as Choice and Purpose

For Fabola, wealth isn’t about accumulating riches; it’s about creating choices. “One of my bosses once said that the whole point of making money is to increase your ability to make choices,” he recalls.

This perspective has shaped his approach to both life and business. “My desire to be successful is not driven by a specific figure in mind. Wealth is a by-product of hard work and the pursuit of excellence.”

That mindset also influences how he balances wealth creation with purpose-driven work. For Fabola, the two are intertwined. “At different stages in life, if I desire something and I can’t afford it, it either motivates me to work harder, or I have to come to terms with my choices.”

Reshaping Africa’s Future

As Fabola looks to the future, he’s focused on Africa’s energy crisis. “There are over 600 million Africans without access to electricity,” he points out, adding that his mission is to displace diesel and petrol generators, one solar unit at a time. “My ultimate goal is to ensure the continent is a better place than I met it.”

For the next generation of African leaders, Fabola offers a simple but powerful lesson: execution is everything. “At the end of the day, it always boils down to those who get things done and those who don’t,” he says.