TEDxEuston 2013 Speaker, 7th Dec – Dr. Pascal G. Dozie

Business Leader, Investment Guru, Gentleman.

Come, listen and interact with Dr Pascal Dozie at TEDxEuston 2013, 7th December, London.  Get Your Tickets Here

Dr Pascal Gabriel Dozie at 74 yrs has gained a fortune through his work and wits on a long journey from Egbu, a small town of a little above 100, 000 inhabitants tucked in the northern section of Owerri in Imo State.  This is where he was born, the son of a country court interpreter, on April 9, 1939. Dr Dozie is now one of Nigeria‘s richest men, he has been on the top ten list for years. His networth is estimated at $1.1 Billion.

Lagos is the only place in the world where you can utilize all the faculties God gave to man,”

Dr Dozie earned his degree in Economics at the London School  of Economics and then a Masters in Administration from City University in London,1963. In Lagos, Dozie set up his own consultancy, the African Development Consulting Group.  He never worked for anyone else again.  In the early year, he was fortunate enough to gather consultancies for the big guns like Nestle and Pfizer.  In his spare time, he wrote about Economics for the respected publication Business International. Dr Pascal Dozie is Founding and Non-Executive Partner at African Capital Alliance. A development economist he is also the Chairman and founder of Kunoch Limited.

He is probably best known for his role as founder and former Chairman of Diamond Bank Plc. An astute businessman Pascal Dozie holds many board membership position in several companies and institutions. Apart from being Chairman of the Board of MTN Nigeria, Nigeria’s biggest telecom firm he also served on the Lagos Business School Advisory Board. He served as the President of OON and He serves as a Member of Advisory Board at Kaizen Venture Partners. His other business investments and interests include ADIC Insurance Limited, Aluminium Extrusion Industries PlC

Dr. Dozie, who founded Diamond Bank along with a team of professionals, directed the affairs of the institution as Chief Executive Officer till he retired from executive position in December, 2005. He is a former Director of the Central Bank of Nigeria and past President of the Nigerian Stock Exchange and until recently, he was Chairman of the Nigeria Economic Summit Group. He is a gentleman, in the literal sense of the word, who loves Mozart and Bach, a man who is close to his roots and his family of 5 sons with Chinyere Dozie and 10 grandchildren.

On Nigeria

          “Many people see Nigeria as an entrepreneur’s gold mine – the opportunities abound.  Every single disadvantage you see – the traffic and the infrastructure – is an opportunity, but you can only change once the government goes hands-off”

“In Nigeria, we have been moving towards this for a long time.  If the government had not been hands-off they would not have a number of major cellphone companies in the country.  Some of them got their operating licenses on the same day.  This hands-off approach has helped us leapfrog communications technology”

“We won’t get anywhere until we, in Nigeria, can say anything can be done in 24 hours”.

“This is the only country in the world where people ask what business are you into and you say politics”.

On Modern Life

“We did not have many modern facilities, but we had the village set up.  If you were hungry, someone would feed you.  If your neighbor caught you doing something wrong, they would punish you.  When your parents found out, they would talk to the neighbor to make sure they had given you a proper spanking.  Modernity has changed all of this”.

On Diamond Bank

“The first customer was my wife”

In the 1980s, the road to real riches opened up, thanks to a simple idea.  Dozie had noticed traders from the remote villages in the east of the country, where he grew up, faced the problem of carrying huge bundles of cash when they trekked to Lagos for business.  “Sometimes they would be waylaid by rogues on the road,” he says.  Dozie pioneered electronic transfers in Nigeria so traders could transfer their cash to Lagos instead of having to carry it.  It saw the creation of Diamond Bank, which opened its doors in 1991. The bank started from a 3rd  floor office in Victoria Island with 20 people and $5million.  “The assumption was we were going to come by money easily –it wasn’t easy”.  The problem was most companies at that time would not deal with a bank less than 3 years old.  So the small staff at Diamond Bank went out to persuade everyone, from traders to car dealers, to part with their money to generate cash through deposits.

On the Struggles With  MTN

“It was very disappointing.  You have a good project and you are turned down.  You start to question your head,”

Dozie could raise merely enough for a 20% stake in the new company.  Through debt funding, MTN  poured in millions to make up the difference.  It was a huge risk, at the time, but MTN prospered and the rest is history.  To this day, Dozie is Chairman of a solid MTN Nigeria.

“Most of the people I asked to invest now regret not investing – I even regret it myself.  They would have enjoyed returns of 20 times their money”.

Aba Power Project

“In a region which has 20% of the power it needs, it will be like manna from heaven”

More than a decade on, Dozie sits atop a family-owned investment company, Kunoch, worth $50 million, which pours money into everything from Power Generation to Gas processing, Oil Exploration, real estate and banking.  One of its investments is in a pilot project that could revolutionize the way power is provided in Nigeria.

The Aba Power Project is in the South East of the country near Port Harcourt and not too far from the border with Cameroon.  It will generate a minimum  of 188 MW, from gas turbines, with plans to expand.

More Achievements

1996 – Dr. Dozie was honoured with Merit Award for Excellence by Aba Chamber of Commerce, Industry, Mines & Agriculture on September 26.
1999 – The honorary degree of Doctor of Law of the Imo State University in May.
2000 – Scroll of Merit Award for untiring contribution to the Economic Development of Imo State by the Government of Imo State on January 28.
2000 – Officer of the Order of the Niger, (OON) in November by the Federal Government of Nigeria;
2000 – The Zik Prize in Leadership 2000 by the Public Research and Analysis Centre in November.
2001 – Honorary degree of Doctor of Management Technology of the Federal University of Technology, Owerri (FUTO) in January 27.
2001 – Honorary degree of Doctor of Business Administration (Hon. DBA) of University of Nigeria, Nsukka, on April 28.

2001 – The Benchmark Award in Banking Industry by Enugu State Chamber of Commerce, Industry, Mines & Agriculture on November 30.

2009 – African Business Lifetime Achievement Award

2013 – Lifetime Achievement Award of the year at the All African Business Leaders Award in Lagos, Nigeria on Wednesday 28 August.

Pascal Dozie has contributed immensely to the Nigerian economy and participated in several national and state assignments. He chaired the management audit panel on the Nigerian Airways set up by the Armed Forces Ruling Council in 1985, and was a member of the Presidential Task Force on the Reorganisation of the National carrier. He was also a member of the Pius Okigbo Panel set up in 1994 to reform and reorganise the Central Bank of Nigeria. The illustrious son of Egbu was also once a director at United Bank for Africa. He was appointed by the President of the Federal Republic of Nigeria as the co-chairman for the Nigerian Business coalition for Action against HIV/AIDS.

Come, listen and interact with Dr Pascal Dozie at TEDxEuston 2013, 7th December, London.  Get Your Tickets Here

3 thoughts on “TEDxEuston 2013 Speaker, 7th Dec – Dr. Pascal G. Dozie

  1. Pingback: TEDxEuston 2013 Speaker, 7th Dec – Nkwo Onwuka | Tonianni

  2. Pingback: TEDxEuston is 2 Weeks Away! | Tonianni

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