Four Popular Nigerian Companies You Don't Know Are Family Business
- There are families running the Nigerian business environment through their corporation, but not many of them are known to the public
- Leadway Assurance, Diamond Bank, Carbon, Globacom are some of the family business still in existence in Nigeria
- The Dozie and Adenuga families are some of the most popular household whose businesses have managed to become a national corporation
Some say don't mix business with family, but not the Dozie, Adenuga and Hassan-Odukale families - to them, the foundation of a successful venture is one that is supported by a family tree.
Family is everything to these households. The bond they have goes beyond sharing a name. Family dinner is just another boardroom meeting, where they transform their ideas into a family business.
Their legacy in the private sector proves, sometimes, mixing business with family might just be the right strategy for a venture.
Source: UGC
Below are Four popular Nigerian family businesses
PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app
Leadway Assurance
Leadway Assurance was founded by Sir Hassan O. Odukale in 1970 as a direct motor insurer, today, the company stands as one of the biggest insurance firm in Nigeria.
His children, Oye Hassan-Odukale and Tunde Hassan-Odukale have led the company for over two decades, with the former handing oer to Tunde in February 2020.
Leadway has growns into a corporation with subsidiaries like Leadway Hotel, Leadway Pensure, Leadway Capital & Trusts, Leadway Properties & Investments, Leadway Asset Management.
Globacom
Yes, Globacom is a family business run by Father-Daughter combo, Mike Adenuga, the founder, and Belinda Ajoke Olubunmi Adenuga, popularly known as Bella Disu.
While Adenuga remains the chairman of Globacom, his daughter occupy the position of the Executive Vice Chairman in the telecommunications company she joined in 2004.
The telco founded in 2004, is now the second largest network provider in Nigeria, with 52.9 million subscribers, and account for 27.78% share of the telephony market.
Diamond Bank
Diamond Bank, which is now part of Access Bank, is one of the biggest family business in Nigeria, ran by the Pascal Dozie household. He economist founded the bank in 1990 for South Easter traders.
It, however, became a national bank after enjoying positive growth. Pascal Dozie handed over to his son, Uzoma Dozie, in 2006, before the company merged with Access Bank in 2019.
Carbon/Paylater
The Dozie family can't seem to do without each other's company in the private sector, as Pascal Dozie's sons, Chijoke and Ngozi, are founders of challenger bank, Carbon.
Chijoke serves as the Chief Executive Officer, while Ngozi acts as the Managing Director of Carbon, which is an online lending app that offers quick credit to persons in need of emergency funds.
The two brothers have also received $15.8 million from investors that believes in their startup's vision previously known as Paylater.
Four Nigerian Billionaires With Over N129.50billion You Should Know: Three Are Big Bank Owners
You've heard about Aliko Dangote, Folorunsho Alakija or even Rabiu Abdulsamad, but there are some silent billionaires you haven't heard about.
The likes of Tunde Hassan-Odukale, Jim Ovia, Herbert Wigwe and TY Danjuma are some billionaires that have managed to stay under the radar.
The four have a combined wealth of over N120 billion in the stock market of Nigeria, where their companies are listed.
Source: Legit.ng
