His story is one every young man especially struggling entrepreneur in Nigeria should borrow leaf from as it teaches hardworking, resilience and taking advantage of any opportunity at the right time
Meet Maduka Cosmos
Maduka Cosmos is the CEO of Cosharis Group. Coscharis Group is one of the largest Nigerian car companies, dealing with cars and car parts.
He was born in Jos in 1958. He became fatherless at the age of 4. At the age of 7 he had to stop schooling because of financial constraints and started helping his mother hawk akara (beans cake) so as to feed the family. At the age of 12 he was already in Lagos for ịgba boyi (apprenticeship) under his uncle who has automobile shop. He served so well that his uncle entrusted travelling to buy goods for his shop to him.
Sadly, towards the end of his apprenticeship period, his uncle dismissed him with only #200 because he left his shop and went to a church program. Time shall come when we would address the wicked acts of masters who dismiss their apprentices few days to their apprenticeship periods/settlement on a flimsy grounds.
After his dismissal, he came back home and started a joint business of selling automobile spare part with his brother but the business was dissolved and they parted ways.
He later started selling motorcycle spare parts but the product that brought about his first sudden turn around was selling helmets- that thing people wear on their heads while on motorcycle to prevent head crash in case of accidents.
The major challenge he had after this turn around was that he imported wrong good and had to sell them below cost price and that put him into debt.
His second but major big break was in 1982 when the government led by Buhari granted 10 motor companies license to import goods and Maduka Cosmos' company was selected. Cosmos said he made money that drug pushers cannot even make because of this.
Anambra state government even approved of over 5000 hectares of land where he cultivates rice in 2016. Today, Coscharis Group is rated as one of the top 50 brands in Nigeria by Top 50 Brands Nigeria.
Cosmos Maduka sits on the boards of several reputable companies. He even served as the Director of Access bank for 12 years. Who would have thought?
What I love about Maduka Cosmos is that whenever you ask him how he arrived here, he never chants the popular line, "na God oh!" .
Man knew what suffering is. He had series of failed businesses. Many of them yet he picks himself up any time it happens.
Remember, Cosmos Maduka did not go to school. So whenever you think you've failed too much, read about Cosmos. An Nnewi man who practically whipped poverty from his lineage forever. If "I made it" had a face, it would be Cosmas.
According to entrepreneurs.ng, Cosmas Maduka's Net Worth as at 2020 is $800 million. That is over 30 billion naira.
News credits: nairametric.com, connectnigeria.com, cnn.com, autojosh.com
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