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Cosmas maduka

cosmos-maduka

Child hood background

Cosmas Maduka was born in 1958, in Jos, Nigeria to Mr and Mrs Peter and Rose Maduka. In 1962, at the age of just four (4), tragedy struck with the passing of his father. With the poor and pitiable status of his family’s then finances, he was faced with no other choice than to start providing the very basics of life for himself. At the age of seven (7), he withdrew from primary school at elementary 3 and started assisting his mother in hawking Akara (Bean cakes) in Plateau, Jos.

In 1970 when Cosmas was twelve (12) years old, his uncle who resided in the Ebute Metta area of Lagos, took charge of his well being by bringing him over to serve as an automobile apprentice in their auto shop located at No. 88 Griffith Street, relatively close to Oyingbo Bus Stop. Since his uncle had no place of his own to stay, he’d usually sleep at his friend’s place while Cosmas Maduka would sleep in the shop at the end of every work-day.

At the age of 9, young Cosmas, through is hardwork, dedication, and honesty had totally won his uncle’s trust. This made his uncle give him larger sensitive responsibilities he wouldn’t naturally have given anyone, like travelling alone to make purchases on his uncle’s behalf from Nnewi, and when he clocked 14, he was sent to work at one of their branches at Sokoto and eventually Nnewi.

In 1975 while still aged 14, after absenting himself from work by attending a church camp program without his uncle’s permission, his relationship with his uncle fell apart. The event caused his uncle to immediately terminate is apprenticeship, and to subsequently settle him with a pitiful sum of just 200 Naira ($1) to go and concentrate on his church programs. The little sum was given to punish him at the time.

Note: The value of 200 Naira at the time was worth a lot more than today.

With his settlement, he founded an auto spare parts business called Maduka Brothers with his brother which eventually shut down, and they parted ways due to ideological differences. This separation left him with an additional 100 Naira, and a total of 300 Naira ($1.5) as working capital.

His Successes

With just 300 Naira ($1.5) in capital to have another trial at entrepreneurship, Cosmas Maduka started a new business as the sole proprietor. He began by buying and selling motorcycle spare parts from Boulos Industries. The major product that was turning in a lot of returns for him was Boulos’s new innovation, motorcylce crash ban. He would buy several of them and remove the address of Boulos from the carton

so that people wouldn’t know where he was buying from. Within a short period of one week, his capital rose from 300 Naira ($1.5) to 3,000 Naira ($15).

 

 

By the age of 19, Cosmas Maduka decided to get married to a beautiful woman called Charity. A short while after his marriage, he started importing products, but was struck with a great misfortune when he received the wrong consignment. This loss led him into several debts, and his landlord which he owed several months rent ended up locking his shop.

With nothing in hand, Cosmas had to start all over again. He picked a weight scale that he had received as a gift from his marriage, took it to the market, and started to charge 10 kobo from everyone who measured their weight. This daily routine got his wife in deep tears because of what her husband was going through, remembering their previous comfortable state.

The Rise Of Coscharis

After saving up a little capital, Cosmas Maduka teamed up with a friend of his, Dave, to start a new business called CosDave. Not long after their new business partnership, they fell apart due to disagreements on decisions made. This new breakup prompted him to start yet another business called Coscharis. The name Coscharis was formed by the combination of two different names; his name, Cosmas, and his wife’s name, Charity.

Cosmas Maduka’s big break finally came when in the same year 1982, the Nigerian government granted ten (10) motor companies import licences, and his Coscharis motors was selected. Ever since then, his company has continued to grow sporadically, with several branches around Nigeria. Today, his personal net worth according to an interview with Forbes Africa 2015, sits at over $500 million US dollars and counting.

As of 2016, Coscharis motors is not just one of the largest automobile dealers in Nigeria, but is also the exclusive distributor of BMW automobiles in Nigeria.

Coscharis Group is a completely possessed Nigerian Conglomerate with organizations and interests that traverse crosswise over different parts of the Nigerian economy: Automobile, Medical, Foods and Beverages, Information Technology, Engineering and Agriculture. With all around regarded accomplices and a notable brand portfolio, Coscharis has kept on being a significant giver to Nigeria’s economy.

 

Coscharis Group was birth in 1977 with an unassuming start of importation and dispersion of honest to goodness car save parts, frill of Japanese vehicles and a few sorts of car related items. This would serve as the establishment for which Coscharis would solidify its vehicle business, furthermore wander into different divisions of the economy. The vital position into key areas of the nation’s financial scene showcases the initiative, business sharpness and persistence of the COSCHARIS mark symbol face to face of the organizer and President/CEO of Coscharis Group, Dr. Cosmas Maduka, CON

 

With the visionary goal to ”construct a foundation that will be ageless in its pertinence”, Coscharis Group from its unassuming starting continued unto the vehicle deals as the sole illustrative of the BMW mark in Nigeria. From that point, the example of overcoming adversity of being a honorable minister of the BMW mark in Nigeria made the terrific passage of other awesome brands like Jaguar LandRover, Ford, Mini, Morris Garages lastly the sumptuous Rolls-Royce mark into the Nigerian market with Coscharis as the second franchisee in the entire of Africa. Besides, inside the vehicle business Coscharis holds sole establishment of the Abro car mind brands and the auto rental establishment for Sixt Rent a Car through its backup Coscharis Mobility in Nigeria.

 

Coscharis Group’s advantage spread past the car segment with auxiliaries, for example, Coscharis Technology Ltd that plays enormous inside the ICT area speaking to different worldwide brands in Nigeria. In like manner Coscharis’ enthusiasm for the medicinal part is available in Coscharis Medical and Foods Ltd and CG Biostadt. As a consequence of further broadening of business center, the Group went into a Private – Public activity to participate in the horticultural division of the economy with the foundation of Coscharis Farms Ltd which expects to happen to one of the biggest rice delivering ranches in Nigeria in the closest future. Coscharis in an offer to unite business in the assembling division attempted the packaging and appropriation of sachet and table water by means of Coscharis Beverages Ltd set up in 2002 and most as of late in 2014 left on get together of Ford officers in Nigeria through Coscharis Motors Assembly Ltd.

 

Coscharis Group’s orderly way to deal with being a noteworthy player in vital segments of the economy has made the Group a constrain to be figured with in Nigeria and past. As a business of work (both neighborhood and global), it is Coscharis Group’s obligation to convey world-class benefit and ceaselessly make esteem to its different partners.

 

With a view to offer back to our general public, Coscharis consistently participates in social duty ventures particularly through the sponsorship of both open and private human advancement exercises, for example, the yearly week of minding, Public Private Auto T

References

Startup tipsdaily

Coscharisgroup.net

 

 

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