The education system can have a significant impact on a country's economic growth and development. By equipping citizens with the skills and knowledge they need to compete in the global economy, Nigeria can attract foreign investment, create jobs, and ultimately reduce poverty. Education certainly determines the quality of an individual's life. It improves one's knowledge, and skills, and develops personality and attitude. Most notably, education affects employment opportunities; a highly educated individual is more likely to secure a good job.
However, Cosmas Maduka has demonstrated that even with limited formal education, one can achieve remarkable success in various fields, particularly in business. Business, the activity of making a living or making money by producing or buying and selling products (goods and services), can be an occupation, profession, or trade. Great businesses adapt their values, vision, and mission to meet the changing needs of their employees and customers. This might involve exceptional customer service, environmental sustainability, or ensuring employee happiness.
Cosmas Maduka CON, born December 24, 1958, is a Nigerian businessman and philanthropist. He is the founder, president, and chairman of the Coscharis Group. In 2015, Maduka was featured in the Forbes Africa TV Series “Worst Day with Peace Hyde” and was estimated to be worth USD 500 million. Despite being swindled out of N21 billion Maduka has continued to thrive. He has also appeared in a CNN Marketplace Africa interview by Zaner.
An Igbo Christian from Nnewi, Anambra State, Maduka was born to Mr. Peter and Mrs. Rose Maduka in Jos. His entrepreneurial journey began at six, two years after his father's death. He dropped out of primary school to hawk Akara to support his mother. At 17, after being wrongly dismissed with N200 by his uncle, who had engaged him as an automobile apprentice, he co-founded a spare parts company called CosDave with his friend Dave. After its failure, he founded Coscharis Motor in 1977 with N300, focusing on automobile spare parts sales. The name 'Coscharis' is a combination of his first name, Cosmas, and his wife, Charity, whom he married at 21.
Maduka's breakthrough came in 1982 when the Nigerian government granted import licenses to ten motor companies, including Coscharis. Today, the Coscharis Group is a conglomerate worth $500 million, with subsidiaries in manufacturing, ICT, petrochemicals, auto care and components, automobile sales and services, and agro-allied sectors. Coscharis Motors is a leading distributor of luxury car brands like Range Rover, Ford, and Jaguar.
In 2015, Coscharis Motors became the sole distributor of BMW in Nigeria and built an assembly plant for the Ford Ranger. The company won the Auto Brand of the Year at the Marketing World Awards in Ghana. In 2016, Coscharis Farms received approval from Anambra State for 5000 hectares to cultivate rice, expected to generate 3000 jobs upon completion. The Coscharis Group is rated among Nigeria's top 50 brands by Top 50 Brands Nigeria.
Maduka credits his business success to his close association with the Japanese, from whom he learned commitment, humility, precision, and hard work. He plans to detail this in his autobiography.
Maduka serves on the boards of several reputable companies and organizations. He was a Director at Access Bank Plc for 12 years (2000-2012). He actively engages in business mentorship and empowerment, sharing stories of how he empowered Dr. Stanley Uzochukwu, Chairman of Stanel Group, with N150 million, making him one of Nigeria's youngest billionaires.
Known for his Christian faith, Maduka often preaches at church or youth conferences in Nigeria. He attributes his positive life impact to his early conversion to Christianity and inspirational talks by the late Reverend William Marrion Branham. Maduka was married to Charity Maduka (1958–2021) and has four sons and a daughter. He resides in Lagos, Nigeria.
In 2015, Maduka appeared on Forbes Africa's cover as the man who turned $1 to $500 million and was featured in the Forbes Africa TV Series “My Worst Day with Peace Hyde.” He enjoys playing and watching football and has a fondness for cars and motorcycles, with his entire family being bikers.
In 2003, Maduka received an Honorary Doctor of Business Administration (PhD) from the University of Nigeria, Nsukka. He served as President/Chairman of the Nigerian Table Tennis Federation for 16 years, leading Nigeria to top Africa in the sport and representing the country at several Olympic Games. In 2012, he completed an Executive Education Program at Harvard Business School and was inducted as an alumnus. President Goodluck Jonathan awarded him the National Honour of Commander of the Order of the Niger (CON) in 2012.
Cosmas Maduka's story is one of innovation and unwavering commitment to excellence. His journey from a humble beginning to building a conglomerate serves as an inspiration to many. His contributions to business and mentorship highlight his role as a significant figure in Nigeria's economic landscape.
Written by Daniel Okonkwo for Profile International Human Rights Advocate.
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