It was Dr. Cosmas Maduabuchukwu Maduka, Chairman/Chief Executive Officer of Coscharis Group of Companies, who once said, “When you want to succeed in life, you must have an allergy to failure.” He actually did, and that stood him out among his peers today as an unequalled achiever of world renown.
Maduka may not have enjoyed the privilege of attending a good school like some of his peers, but he succeeded in pulling himself out of poverty to become a billionaire, simply by working hard, believing in himself. He is regarded as success personified, as he had been a resource facilitator in youth empowerment seminars and conferences, where he educates people 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 the 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. He never despaired and trudged on, and believing that tomorrow holds more 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.
Coscharis made a breakthrough in 1982 when the Federal Government decided to grant import licences to 10 Nigerian Companies and it was 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 laboratory equipment, pharmaceuticals, sales and services of automobiles.
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, former President of Nigeria, 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 12 years. He was also the President, Nigerian Table Tennis Federation from 1996 to 2008.
According to Maduka, “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. It is unfortunate that many businessmen do not create businesses and try areas they can make maximum impact. It is also unfortunate that most business men think that one could build reputation with what he is going to do, not knowing that reputation is built on what one has already done.”
With the vision to build an institution that will be timeless in its relevance and value, Maduka’s business empire has continued to grow boundlessly, affecting lives positively and contributing immensely to the growth and development of Nigeria and other African countries.
Leadership