Dr. Cosmas Maduabuchukwu Maduka, Chairman, Chief Executive Officer of
Coscharis Group of Companies is an uneducated man who pulled himself
out of poverty to become a billionaire, simply by working hard,
believing in himself and confessing himself to riches. He is regarded
as success personified, as he had been a resource facilitator in
youth empowerment seminars and conferences, where he educates people
that on how to move on with life, no matter the circumstances. He
believes that one's background should not determine his destiny.
Born into the family of, late Pa Peter and Madam Rose Maduka from
Nnewi, Anambra State on December 24, 1958, he lost his father at the
age of four, so the opportunity of acquiring formal education eluded
him. After the death of his father, he went through hard times, but
with perseverance and dedication, he is today, one of the leading
chief executive officers in Nigeria. His uncle sacked him when he was
an apprentice trader for attending a church programme, yet that was
not the end of the road for him and never despaired and trudged on,
and believing that tomorrow holds much promises for him. Today, his
name is written in bold letters among corporate leaders in Nigeria.
Maduka started Coscharis Motors as a one- man business, which has now
risen to a conglomerate, with diverse interest in banking,
manufacturing, ICT and the auto sub-sector of the economy.
He is presently regarded as a benchmark for other operators in the
automobile industry.
It was as a result of his outstanding qualities, experience and
contributions to the business and commercial sector that he was
awarded Honorary Doctor of Business Administration by the University
of Nigeria Nsukka in 2003. And in September 2012, President Goodluck
Jonathan conferred him with the National Honour of the Commander of
the Order of the Niger (CON). He served as a director in Access Bank
for twelve years. He is also the President, Nigerian Table Tennis
Federation from 1996 to 2008. Analumnusof Harvard Business School
under Executive Education Programme, he is currently serving on the
board of many notable companies, including, CG-Eko LLP, First System
Refinishes, Ltd CG Biostadt Limited etc.
He spoke with Firstclass Newsline on his journey to life and the
secret of his success.
How was your beginning?
I was born and bred in Jos, Plataeu State. My father died when I was
four years old. So, my mother who fried bean cake (Akara) could not
cope with the hard situation we faced. I had to assist her by hawking
Akara. I also learned how to cut palm fronds for elderly women and
they paid me three pence. Three years after, things got worse, my
mother withdrew me from elementary three and sent me to my maternal
grandparents in order to reduce her task of providing for me as a
little boy and other three children. At seven, I was already a
breadwinner.
How was your journey to success?
In 1970, I was sent to serve my uncle as an automobile apprentice at
Ebute- Metta, Lagos. My uncle lived at Ebute- Metta, but had a shop
at 88 Griffith Street, near Oyingbo bus Stop. At that time, people
laughed at me and questioned what I could learn at seven years old.
Why did people doubt your ability to learn a trade?
People doubted me because at the age of nine, I have effectively
mastered my craft and travelled alone to Nnewi to purchase some items
on behalf of my uncle. At age 14, my uncle was so confident in my
abilinine, I have effectively mastered my craft ties that he sent me
to work in one of the branches in Sokoto and later in Nnewi. That
time, there was no contract binding my uncle and I about.
Tell us of your apprentice experiences
My uncle then had no apartment. He was squatting with someone. So, he
asked me to be sleeping in the shop. One funny thing was that when we
closed for our daily business he would lock me inside the shop and
went home with the key. I only came out when he opened the shop the
following day. If there had been any fire, I would not have been
alive today to tell the story. Then, I used to bath in an open place.
I could recall that school children mocked me while I was bathing, and
I told them that I was going to be better than them in six years time.
Also, I was born into a Catholic family, but later gave up my faith.
Along the line, I found back my faith.
How did you regain your faith?
I tried to do that but there was no possible means, until a friend
invited me to the Redeemed Christian Church of God at Ebute- Metta. It
was there I found my faith back and was not ready to let it go again.
How did you part ways with your uncle as an apprentice?
In 1975, at the age of 14, while still at Nnewi, I attended a church
camp programme. When my uncle returned and discovered that I was not
around, he became angry, and sent for my elder brother and me. When we
went, there, he gave me the sum of N200.00, and asked me to go and
concentrate on my newfound faith. That was how my services with my
uncle were terminated.
What was your reaction for sudden termination?
In fact, that was really done to punish me. But having known a little
about God, I looked at my uncle in the eyes and told him that, "God
hardened the heart of Pharaoh to show His might in the land of Egypt.
I served you well and therefore do not deserve this. But if this is
what you have to offer me, five years from now, you will be amazed
what you are going to see out of this money."
What did you do with the money?
After collecting the money, I thought about what happened and saw it
as a very big set back for me. However, that made me embrace a
positive attitude. I have always been very positive from my
childhood and this often made people laugh at me. After I parted with
my uncle, I teamed up with my elder brother who had finished his
apprenticeship and was ready to set up a company. So, we set up a
company called Maduka Brothers and we specialized in spare parts.
Unfortunately, the partnership did not last.
Why didn't the partnership last?
My brother had to part due to ideological differences and left me
with a capital of N300.00.
Now from N200 to N300, where did you go from there?
I used the N300, my brother left to start my own business enterprise
called Coscharis Motors. I was coming to buy goods in Lagos.
At what point did you start to have breakthrough in business?
I had my first breakthrough in business when I went to Boulous
Enterprises to purchase motorcycle spare parts. There, I saw an
innovation called motorcycle crash ban and bought many of them.
Thereafter, I removed the address of Boulous on the carton, so that
people would not know where I bought them. Then, I sold all the next
day and joined night bus back to Lagos to buy more. I did that four
times in a week and my capital rose from N300.00 over N3000.00.
You seemed to be making a success after being on your own, did you
experience any hiccups?
After making some money from the Boulous business, I went into
importation. But, unfortunately, I received the wrong consignment and
that made me lose my capital. I had a serious set back and became
indebted to many even to my landlord, who I owed some months rent
arrears. As a result, my shop was locked and the business crumbled.
Notwithstanding, I was willing to start again.
How did you bounce back to business?
In order to survive, I searched for a weighing scale, which was
presented to me during my wedding. I took it to the market and was
charging 10 kobo for anyone that climbed it to check his weight. From
there, I made some money, but my wife did not know about it initially.
When she eventually knew, she cried and decided to pick up a job to
support the family. So, with the proceeds from the weighing business,
I teamed up with a friend called, David and we set up a company known
as Cosdave. My partnership with David also had to end due to
ideological differences. Thereafter, I set Coscharis Motors.
How did the name, Coscharis come up?
Coscharis is a combination of three letter words from my name, Cosmas
and four from my wife's name, Charity. I decided to call it Charis
instead of Charity so that it will sound well and different.
How is Coscharis Group doing?
Coscharis Motors is a member of the Coscharis group; the Coscharis
group has seven subsidiaries. The company is diversified into auto
sales and auto services with state -of -the-art showrooms and
workshops, nationwide. The auto sales and services facilities are top
of the bill in Nigeria and Sub Sahara Africa with a complementary
efficient and effective staff force. The automobile business of
Coscharis Group commenced in 1983, when the company was incorporated
with the business of importation and distribution of genuine
automotive spare parts and accessories of Japanese vehicles and
several kinds of automobile related products. Coscharis previous head
office Complex at 1-7 Coscharis Street, Kirikiri Industry Estate,
Maza- Maza was instituted in 1989 and since then, the company has
stretched its bases to Victoria Island and Lekki in Lagos State, while
branches have been set up in Abuja, Kano, Port Harcourt, Uyo and
Ibadan. Other areas are Aba, Akure and Maiduguri, especially for the
motorcycles and auto-care Abro products.
What can you say is the landmark of Coscharis Motors?
It was the commissioning of an Ultramodern Complex at 68A, Adeola
Odeku Street in Victoria Island, Lagos in 1997. This was immediately
followed in 1998 by securing exclusive franchise to market the BMW and
Land Rover brands in Nigeria. The BMW brand comes in a series of
models ranging from BMW 1 Series, BMW 3 Series, BMW 5 Series, BMW 6
Series and BMW 7 Series. Currently, Coscharis markets all the X
variants: BMW X1, BMW X3, BMW X5, and BMW X6. The Land Rover variants
include the Range Rover Vogue, Range Rover Sports, Range Rover Evoque,
Discovery 4, Freelander 2 and the Defender.
In 1999, Coscharis Motors completed its ultra modern sales showroom
and after sales services workshop located in Maza Maza. The then
Vice-President, Federal Republic of Nigeria, Alhaji Atiku Abubakar
commissioned this. And, in 2000, it opened a standard sales/service
branch in Abuja but this has been followed by the commissioning of an
ultra-modern complex, the first of its kind in Nigeria and West
Africa. The complex is located in the Central Business Area, Garki,
Abuja. Currently, its ranges of auto brands include, Ford vehicles,
MG and other commercial vehicles. Then, in 2001, Coscharis Motors
expanded its automobile range by diversifying into the sales of Ford
vehicles. The Ford ranges include Figo, Fiesta, Focus, Fusion, Mondeo
and Taurus (all sedan). The Ford 4X4 on offering are Ranger, Escape,
Everest, Galaxy, Edge and Explorer, Which is the flagship of the Ford
brand. The company also sells the Ford Transit while the Ford showroom
was commissioned in 2002.
What is the turning point of Coscharis?
Coscharis made a breakthrough in 1982 when the Federal Government
decided to grant import licences to 10 Nigerian Companies and it
became one of the beneficiaries. Since that time till date, the
company has continued to expand. The Coscharis group has over 26
branches nationwide and with heavy presence in three African countries
namely Ghana, Gabon and Cote D'Ivoire. The Group's business portfolio
features supply, installation, maintenance and repairs of medical and
labouratory equipment, pharmaceuticals, sales and services of
automobiles.
You said you didn't go to school, how did you succeeded without education?
Firstclassnewsline.net
I learn from natural things. I believe that it is not about going to
university, but having common sense to make things happen. An
educated man is one who can organise his thought into productivity. It
is not about having dream, but the plan to actualise the dream into
action. I have the passion to make a difference in my life.
Though I left school in primary three, I tried to do some research and
found out how I could take some parts from a Volkswagen car and fix
into a Honda. I was always curious to know which automobile parts
could work on another brand. For the three years I worked tirelessly
with my uncle and he opened some branches. So, you need pasto make a
difference in my life. sion, commitment, integrity, discipline,
creativity, business development skill, innovation and perseverance.
It is interesting to state that I have not failed to keep my
commitment since I started business.
What gave you the confidence that you would one day succeed?
In fact, I did not know why I was so confident as a child. But the
truth is that my mother inspired and encouraged me always.
Why are some businessmen not making the desired progress?
I was able to turn N200.00 into billions of naira under 40 years of
being in business. One major bane of stagnancy in business is
artificial lifestyles. Many Nigerians live wasteful lives. I am proud
to say that I can pay some of the people that use private jets. It is
unfortunate that many businessmen do not create businesses and try
areas they can make maximum impact. It is also unfortunate that most
businessmen think that one could build reputation with what he is
going to do, not knowing that reputation is built of what one has
already done.
What is your vision?
My vision is to build an institution that will be timeless in its
relevance and value.
What advice do you have for young people?
Youths should start little and they will get where they want to be. It
is not where you started from, but where you will end up that matters.
Those going into business should be mindful of the 10 commandments of
Small Scale Business Enterprise: Pick and remain focused on a
business they understand well. They should thoroughly understand
their market. They should look for and hire professional managers,
put in place a strong financial administration control, constantly
research the market to confirm the continued relevancy of their
products to prevent a business from being obsolete. Also, they should
avoid spending too much money on office space and self serving
activities; they need liquid cash to run their businesses, they
should have a business strategic plan and constantly review it, keep
proper and complete records of all transactions, make sure that there
is a job for every position and find people to fill them. Further,
they should set performance standards for themselves and constantly
measure against the standards.
Another thing the young business people should to know is that
success of a great meeting is not based on the eloquence of the
speaker, but the understanding. In a journey of success, one must
learn to overcome fears and imbibe courage and hard work.
Firstclassnewsline.net
Coscharis Group of Companies is an uneducated man who pulled himself
out of poverty to become a billionaire, simply by working hard,
believing in himself and confessing himself to riches. He is regarded
as success personified, as he had been a resource facilitator in
youth empowerment seminars and conferences, where he educates people
that on how to move on with life, no matter the circumstances. He
believes that one's background should not determine his destiny.
Born into the family of, late Pa Peter and Madam Rose Maduka from
Nnewi, Anambra State on December 24, 1958, he lost his father at the
age of four, so the opportunity of acquiring formal education eluded
him. After the death of his father, he went through hard times, but
with perseverance and dedication, he is today, one of the leading
chief executive officers in Nigeria. His uncle sacked him when he was
an apprentice trader for attending a church programme, yet that was
not the end of the road for him and never despaired and trudged on,
and believing that tomorrow holds much promises for him. Today, his
name is written in bold letters among corporate leaders in Nigeria.
Maduka started Coscharis Motors as a one- man business, which has now
risen to a conglomerate, with diverse interest in banking,
manufacturing, ICT and the auto sub-sector of the economy.
He is presently regarded as a benchmark for other operators in the
automobile industry.
It was as a result of his outstanding qualities, experience and
contributions to the business and commercial sector that he was
awarded Honorary Doctor of Business Administration by the University
of Nigeria Nsukka in 2003. And in September 2012, President Goodluck
Jonathan conferred him with the National Honour of the Commander of
the Order of the Niger (CON). He served as a director in Access Bank
for twelve years. He is also the President, Nigerian Table Tennis
Federation from 1996 to 2008. Analumnusof Harvard Business School
under Executive Education Programme, he is currently serving on the
board of many notable companies, including, CG-Eko LLP, First System
Refinishes, Ltd CG Biostadt Limited etc.
He spoke with Firstclass Newsline on his journey to life and the
secret of his success.
How was your beginning?
I was born and bred in Jos, Plataeu State. My father died when I was
four years old. So, my mother who fried bean cake (Akara) could not
cope with the hard situation we faced. I had to assist her by hawking
Akara. I also learned how to cut palm fronds for elderly women and
they paid me three pence. Three years after, things got worse, my
mother withdrew me from elementary three and sent me to my maternal
grandparents in order to reduce her task of providing for me as a
little boy and other three children. At seven, I was already a
breadwinner.
How was your journey to success?
In 1970, I was sent to serve my uncle as an automobile apprentice at
Ebute- Metta, Lagos. My uncle lived at Ebute- Metta, but had a shop
at 88 Griffith Street, near Oyingbo bus Stop. At that time, people
laughed at me and questioned what I could learn at seven years old.
Why did people doubt your ability to learn a trade?
People doubted me because at the age of nine, I have effectively
mastered my craft and travelled alone to Nnewi to purchase some items
on behalf of my uncle. At age 14, my uncle was so confident in my
abilinine, I have effectively mastered my craft ties that he sent me
to work in one of the branches in Sokoto and later in Nnewi. That
time, there was no contract binding my uncle and I about.
Tell us of your apprentice experiences
My uncle then had no apartment. He was squatting with someone. So, he
asked me to be sleeping in the shop. One funny thing was that when we
closed for our daily business he would lock me inside the shop and
went home with the key. I only came out when he opened the shop the
following day. If there had been any fire, I would not have been
alive today to tell the story. Then, I used to bath in an open place.
I could recall that school children mocked me while I was bathing, and
I told them that I was going to be better than them in six years time.
Also, I was born into a Catholic family, but later gave up my faith.
Along the line, I found back my faith.
How did you regain your faith?
I tried to do that but there was no possible means, until a friend
invited me to the Redeemed Christian Church of God at Ebute- Metta. It
was there I found my faith back and was not ready to let it go again.
How did you part ways with your uncle as an apprentice?
In 1975, at the age of 14, while still at Nnewi, I attended a church
camp programme. When my uncle returned and discovered that I was not
around, he became angry, and sent for my elder brother and me. When we
went, there, he gave me the sum of N200.00, and asked me to go and
concentrate on my newfound faith. That was how my services with my
uncle were terminated.
What was your reaction for sudden termination?
In fact, that was really done to punish me. But having known a little
about God, I looked at my uncle in the eyes and told him that, "God
hardened the heart of Pharaoh to show His might in the land of Egypt.
I served you well and therefore do not deserve this. But if this is
what you have to offer me, five years from now, you will be amazed
what you are going to see out of this money."
What did you do with the money?
After collecting the money, I thought about what happened and saw it
as a very big set back for me. However, that made me embrace a
positive attitude. I have always been very positive from my
childhood and this often made people laugh at me. After I parted with
my uncle, I teamed up with my elder brother who had finished his
apprenticeship and was ready to set up a company. So, we set up a
company called Maduka Brothers and we specialized in spare parts.
Unfortunately, the partnership did not last.
Why didn't the partnership last?
My brother had to part due to ideological differences and left me
with a capital of N300.00.
Now from N200 to N300, where did you go from there?
I used the N300, my brother left to start my own business enterprise
called Coscharis Motors. I was coming to buy goods in Lagos.
At what point did you start to have breakthrough in business?
I had my first breakthrough in business when I went to Boulous
Enterprises to purchase motorcycle spare parts. There, I saw an
innovation called motorcycle crash ban and bought many of them.
Thereafter, I removed the address of Boulous on the carton, so that
people would not know where I bought them. Then, I sold all the next
day and joined night bus back to Lagos to buy more. I did that four
times in a week and my capital rose from N300.00 over N3000.00.
You seemed to be making a success after being on your own, did you
experience any hiccups?
After making some money from the Boulous business, I went into
importation. But, unfortunately, I received the wrong consignment and
that made me lose my capital. I had a serious set back and became
indebted to many even to my landlord, who I owed some months rent
arrears. As a result, my shop was locked and the business crumbled.
Notwithstanding, I was willing to start again.
How did you bounce back to business?
In order to survive, I searched for a weighing scale, which was
presented to me during my wedding. I took it to the market and was
charging 10 kobo for anyone that climbed it to check his weight. From
there, I made some money, but my wife did not know about it initially.
When she eventually knew, she cried and decided to pick up a job to
support the family. So, with the proceeds from the weighing business,
I teamed up with a friend called, David and we set up a company known
as Cosdave. My partnership with David also had to end due to
ideological differences. Thereafter, I set Coscharis Motors.
How did the name, Coscharis come up?
Coscharis is a combination of three letter words from my name, Cosmas
and four from my wife's name, Charity. I decided to call it Charis
instead of Charity so that it will sound well and different.
How is Coscharis Group doing?
Coscharis Motors is a member of the Coscharis group; the Coscharis
group has seven subsidiaries. The company is diversified into auto
sales and auto services with state -of -the-art showrooms and
workshops, nationwide. The auto sales and services facilities are top
of the bill in Nigeria and Sub Sahara Africa with a complementary
efficient and effective staff force. The automobile business of
Coscharis Group commenced in 1983, when the company was incorporated
with the business of importation and distribution of genuine
automotive spare parts and accessories of Japanese vehicles and
several kinds of automobile related products. Coscharis previous head
office Complex at 1-7 Coscharis Street, Kirikiri Industry Estate,
Maza- Maza was instituted in 1989 and since then, the company has
stretched its bases to Victoria Island and Lekki in Lagos State, while
branches have been set up in Abuja, Kano, Port Harcourt, Uyo and
Ibadan. Other areas are Aba, Akure and Maiduguri, especially for the
motorcycles and auto-care Abro products.
What can you say is the landmark of Coscharis Motors?
It was the commissioning of an Ultramodern Complex at 68A, Adeola
Odeku Street in Victoria Island, Lagos in 1997. This was immediately
followed in 1998 by securing exclusive franchise to market the BMW and
Land Rover brands in Nigeria. The BMW brand comes in a series of
models ranging from BMW 1 Series, BMW 3 Series, BMW 5 Series, BMW 6
Series and BMW 7 Series. Currently, Coscharis markets all the X
variants: BMW X1, BMW X3, BMW X5, and BMW X6. The Land Rover variants
include the Range Rover Vogue, Range Rover Sports, Range Rover Evoque,
Discovery 4, Freelander 2 and the Defender.
In 1999, Coscharis Motors completed its ultra modern sales showroom
and after sales services workshop located in Maza Maza. The then
Vice-President, Federal Republic of Nigeria, Alhaji Atiku Abubakar
commissioned this. And, in 2000, it opened a standard sales/service
branch in Abuja but this has been followed by the commissioning of an
ultra-modern complex, the first of its kind in Nigeria and West
Africa. The complex is located in the Central Business Area, Garki,
Abuja. Currently, its ranges of auto brands include, Ford vehicles,
MG and other commercial vehicles. Then, in 2001, Coscharis Motors
expanded its automobile range by diversifying into the sales of Ford
vehicles. The Ford ranges include Figo, Fiesta, Focus, Fusion, Mondeo
and Taurus (all sedan). The Ford 4X4 on offering are Ranger, Escape,
Everest, Galaxy, Edge and Explorer, Which is the flagship of the Ford
brand. The company also sells the Ford Transit while the Ford showroom
was commissioned in 2002.
What is the turning point of Coscharis?
Coscharis made a breakthrough in 1982 when the Federal Government
decided to grant import licences to 10 Nigerian Companies and it
became one of the beneficiaries. Since that time till date, the
company has continued to expand. The Coscharis group has over 26
branches nationwide and with heavy presence in three African countries
namely Ghana, Gabon and Cote D'Ivoire. The Group's business portfolio
features supply, installation, maintenance and repairs of medical and
labouratory equipment, pharmaceuticals, sales and services of
automobiles.
You said you didn't go to school, how did you succeeded without education?
Firstclassnewsline.net
I learn from natural things. I believe that it is not about going to
university, but having common sense to make things happen. An
educated man is one who can organise his thought into productivity. It
is not about having dream, but the plan to actualise the dream into
action. I have the passion to make a difference in my life.
Though I left school in primary three, I tried to do some research and
found out how I could take some parts from a Volkswagen car and fix
into a Honda. I was always curious to know which automobile parts
could work on another brand. For the three years I worked tirelessly
with my uncle and he opened some branches. So, you need pasto make a
difference in my life. sion, commitment, integrity, discipline,
creativity, business development skill, innovation and perseverance.
It is interesting to state that I have not failed to keep my
commitment since I started business.
What gave you the confidence that you would one day succeed?
In fact, I did not know why I was so confident as a child. But the
truth is that my mother inspired and encouraged me always.
Why are some businessmen not making the desired progress?
I was able to turn N200.00 into billions of naira under 40 years of
being in business. One major bane of stagnancy in business is
artificial lifestyles. Many Nigerians live wasteful lives. I am proud
to say that I can pay some of the people that use private jets. It is
unfortunate that many businessmen do not create businesses and try
areas they can make maximum impact. It is also unfortunate that most
businessmen think that one could build reputation with what he is
going to do, not knowing that reputation is built of what one has
already done.
What is your vision?
My vision is to build an institution that will be timeless in its
relevance and value.
What advice do you have for young people?
Youths should start little and they will get where they want to be. It
is not where you started from, but where you will end up that matters.
Those going into business should be mindful of the 10 commandments of
Small Scale Business Enterprise: Pick and remain focused on a
business they understand well. They should thoroughly understand
their market. They should look for and hire professional managers,
put in place a strong financial administration control, constantly
research the market to confirm the continued relevancy of their
products to prevent a business from being obsolete. Also, they should
avoid spending too much money on office space and self serving
activities; they need liquid cash to run their businesses, they
should have a business strategic plan and constantly review it, keep
proper and complete records of all transactions, make sure that there
is a job for every position and find people to fill them. Further,
they should set performance standards for themselves and constantly
measure against the standards.
Another thing the young business people should to know is that
success of a great meeting is not based on the eloquence of the
speaker, but the understanding. In a journey of success, one must
learn to overcome fears and imbibe courage and hard work.
Firstclassnewsline.net
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