Motivational Personality of the Week – Cosmas Maduka
PROFILE OF DR. COSMAS MADUKA
Dr. Cosmas Maduka is a business tycoon / entrepreneur (autopreneur), President and Chairman of Coscharis Group a Nigerian conglomerate with business interest in various sectors of the Nigerian economy, such as automobile sales and service, auto care and components, manufacturing, medical, agriculture and agro-allied, information technology, engineering, and petrochemical.
He is the founder of Coscharis Motors, a leading distributor of luxury cars in Nigeria, including BMW, Range Rover, Ford, and Jaguar.
- Cosmas Maduka was born to Mr. & Mrs. Maduka in Jos, Plateau State. He lost his father at an early age, which necessitated his introduction to entrepreneurship / apprenticeship.
- He worked / served his uncle as an automobile apprentice in the Ebute-Metta area of Lagos State. He was dedicated and diligent in all of his assignment and trainings.
- To the amazement of many – his uncle inclusive, Cosmas mastered the necessary skill of the trade and soon built trust and confidence with his master. This earned him the position to make purchases on behalf of his uncle’s business and later deployed to work / head other locations / branches of the business.
- Following some misunderstanding between him and his uncle, he was relieved of his apprenticeship and was “settled” with the sum of N200.
- Cosmos subsequently entered into an auto-parts partnership with his brother (Maduka Brothers) with the settlement amount received. However, this partnership was not successful due to ideological differences and he was left with N300 – making an extra N100 from the initial settlement amount received.
- Thereafter, he ventured into buying and selling of motorcycle parts from Boulos Industries. This business became lucrative for him and his capital grew to about N3,000.
- This new capital was later lost in some importation business and Cosmas had to start all over again.
- He married his wife (Charity Maduka) at the age of 19 and his brand name “Coscharis” is a combination of his first name and that of his wife.
- Coscharis Motors was founded in 1977 (after a number of other business arrangements, contacts and connections have been made, especially with the Japanese), but had his major breakthrough in 1982, when Coscharis was granted importation license out of the ten (10) approved licenses by the Nigerian government.
- Today, Coscharis Group is a conglomerate with several businesses in different sectors of the Nigerian economy.
- Coscharis Motors is the sole distributors of the BMW brand in Nigeria and the first company to build a Ford Ranger Assembly Plant in Nigeria.
- Coscharis Farms employs about 3,000 workers in its 5,000 hectares of rice farm situated in Anambra State.
- He received an honorary doctorate degree in business administration from the University of Nigeria, Nsukka and he is an alumnus of the Harvard Business School.
- Cosmas is also a sports enthusiast and has served in various capacity with the Nigerian Table Tennis Federation. He has led the Nigerian table tennis team to the Olympic Games in Atlanta 1996, Athens 2000, Sidney 2004 and Beijing 2008.
- Cosmas Maduka was honoured with the title Commander of the Order of the Niger (CON) in 2012 and has been featured on Forbes Africa Cover as the man that turned $1 into $500 million.
- Cosmas is happily married with a stable home.