Businesses Owned by Pascal Dozie, Nigeria’s Banking Mogul Who Passed On At 86
- Pascal Dozie was one of the most important figures in Nigeria's telecom and finance industries
- The influential businessman passed away on Tuesday, April 8, 2025, at the age of 86 according to report
- His impact and business ownership cuts across banking, telecommunications, hospitality and lots more
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Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Nigeria mourned the death of Pascal Dozie, one of the most significant individuals in the nation's financial and telecoms sectors, on Tuesday, April 8, 2025.
Source: UGC
Dozie's death at the age of 86 signaled the end of a period in which he had influenced several industries, most notably banking and telecommunications, where his influence persisted for decades.
He is regarded as one of Nigeria's most influential businessmen, having laid the foundation for significant reforms in two of the most vital industries in the country. His impacts can be seen across these 7 companies as listed by Billioniares.africa
Diamond Bank
Diamond Bank was established in 1990 by Pascal Dozie to fill a significant void in Nigeria's banking industry. It immediately distinguished itself by being innovative, providing customer-focused services, and embracing technology early on.
It developed into one of Nigeria's most reputable and forward-thinking financial organizations under Dozie's inspiring direction.
After receiving shareholder and regulatory permission, it reached a turning point in 2018 when it signed a historic merger agreement with Access Bank, the flagship company of Access Holdings.
The agreement, which was finalised in early 2019, changed the banking environment in Nigeria and solidified Dozie's reputation as a pioneer in African finance.
MTN Nigeria
The introduction of MTN to the Nigerian market, which transformed telecommunications throughout the nation, was made possible in large part by Pascal Dozie.
As a founding investor, he provided crucial financial backing as well as strategic direction that helped establish MTN Nigeria as the top mobile network provider in the country.
Dozie was one of the company's top 10 largest individual stockholders for many years. His 1.6 percent ownership was worth N82.24 billion ($52.3 million) at the time of his death, according to Billionaires.africa.
His early investment and ongoing influence demonstrate a legacy that changed the mobile communications landscape in Nigeria and had an impact that went far beyond the banking sector.
Marriott Hotel, Owerri
Kunoch Holdings, Pascal Dozie's family business, collaborated with Africa Capital Alliance in 2017 to build the Protea Hotel by Marriott Owerri Select, a midscale hotel with 90 rooms that is ideally situated in Owerri, the capital of Imo State.
Serving both business and leisure guests, the facility has 72 regular rooms and 18 suites under the well-known Protea Hotels by Marriott brand.
Dozie's long-term goal of providing high-quality, sustainable infrastructure that improves Nigeria's hospitality scene is in line with this investment.
Beyond the actual construction, the project demonstrates Kunoch Holdings' dedication to regional expansion and Africa Capital Alliance's function in using private money to support locally rooted, impactful projects.
Africa Capital Alliance
One of the innovative private equity firms in West Africa, Africa Capital Alliance (ACA), is well-known for its African-led investment approach and expanding pan-African reach.
With operations and subsidiaries in Nigeria, Ghana, and Mauritius, ACA was founded in 1997 and has since established a solid reputation for providing value in emerging markets.
Pascal Dozie was a founding partner who had a key role in determining the long-term goals and strategic orientation of the company.
Under his direction, ACA has drawn more than $1 billion in total capital commitments, which is indicative of both its track record of success and its allure to both domestic and international investors looking to get access to Africa's rapidly expanding markets.
Kunoch Holding
The investment arm and family office of the Dozie family, Kunoch Holdings, is strategically focused on identifying and capitalizing on venture opportunities that are either rooted in Nigeria or bring measurable value to the country.
The firm's diversified portfolio spans key sectors such as education, hospitality, finance, and ICT, all of which are firmly rooted in a commitment to social responsibility and environmental sustainability.
In August 2014, Kunoch Holdings made a significant expansion in the financial sector by acquiring Actis DB Holdings Limited, a special purpose vehicle jointly owned by Actis LLP and CDC Group plc.
This acquisition allowed Kunoch Holdings to secure a 14.79 percent equity stake in Diamond Bank, further solidifying its presence in the Nigerian financial landscape.
Kunoch Oil Services Limited
Specialized energy investment company Kunoch Oil Services Limited owns a strategic 15% equity holding in OML 146, a company based in Nigeria.
An important component of the country's hydrocarbon portfolio, the Agu Conventional Oil Field is a producing asset located on this onshore tract.
A prominent upstream business in Nigeria known for using cutting-edge extraction technologies and environmentally friendly methods, Sterling Exploration and Energy Production, operates the Agu field.
This investment demonstrates Kunoch's significant role in the Nigerian energy industry and its larger dedication to generating wealth through a variety of oil and gas assets.
Kunoch Digi
Located in Owerri, Imo State, Kunoch Digi is a digital skills hub created to address the lack of tech talent in Southeast Nigeria.
It provides practical instruction in in-demand domains like cybersecurity, digital marketing, data analysis, front-end development, and UI/UX design.
Kunoch Digi equips students—from aspiring professionals to career changers—with the skills they need to succeed in the rapidly evolving digital economy by emphasizing hands-on, employable learning.
Its program develops a pipeline of qualified personnel for regional and international IT ecosystems by fusing theory with practical application.
In addition to satisfying market demands, Kunoch Digi is promoting equitable, sustained economic growth in the area by making tech education relevant and accessible.
Nigerian bank announces 100% free charges
Legit.ng reported that Nigerians are eager to open personal accounts with Sterling Bank after the bank decided to remove fees on local electronic transactions, including former Aviation Minister Chief Osita Chidoka.
Customers sending to Sterling Bank accounts, as well as accounts at other banks, are eligible for the free transactions.
On April 1, Sterling Bank made headlines by announcing it would remove all local transfer charges on its OneBank platform.
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Source: Legit.ng
