Pascal Dozie is net worth around $150 million, He’s a prosperous businessman who’s dealt with clients around Nigeria and beyond. One might be called the “Patriarch of Entrepreneurs” after over 50 years of successful business ventures. Pascal Dozie is a bit of a mystery, but the fact that he has five kids who follow in his business footsteps in various fields further adds to the intrigue.
He is respected in the boardroom and has climbed the corporate ladder from the bottom up, having a successful and gratifying career in finance and business to show for it. Dozie is better recognized for starting two successful firms in Nigeria: Diamond Bank and MTN Nigeria. But Mr Pascal Dozie is more than meets the eye.
Paschal Dozie Biography and Net Worth
It was this singular step that saw the creation of Diamond Bank, which opened its doors to business in the year 1991. When the bank started, it operated from a third-floor office in Victoria Island with twenty people and $ 5 million.
Pascal Dozie was the Chairman of the Board of MTN Nigeria, the most prominent telecoms firm in Nigeria. His other business investments and interests include ADIC Insurance Limited and Aluminium Extrusion Industries Plc. Pascal Dozie is a former Director of the Central Bank of Nigeria and one-time President of the Nigerian Stock Exchange. Until recently, he was Chairman of the Nigeria Economic Summit Group.
Paschal Dozie Income from Business
Diamond Bank, which first opened for operation in 1991, was founded as a direct result of this single action. Twenty individuals and $5 million started the bank in a small office on Victoria Island’s third floor.
The largest telecommunications company in Nigeria was led by Pascal Dozie as its Chairman of the Board. ADIC Insurance Limited and Aluminium Extrusion Industries Plc are two of his other business ventures and interests. Before stepping down as Chairman of the Nigeria Economic Summit Group, Pascal Dozie served as Director of the Central Bank of Nigeria and President of the Nigerian Stock Exchange.
He was able to maintain stability despite the influx of new banking regulations and periodic company crises. Pascal served as CEO and Chairman of Diamond Bank until handing over the reins to Emeka Onwuka on December 31, 2006. Later, Access Bank Plc will purchase Diamond Bank, becoming a new financial institution with the same name and diamond emblem. Before becoming Co-chair of the Commonwealth Business Council, Pascal Dozie held positions as Director at the Central Bank of Nigeria (CBN), Chairman of the Nigerian Economic Summit Group, President of the Nigerian Stock Exchange, and Chairman of the Nigeria Business Support Group. He has served as Chairman of Kunoch Ltd. and Progress Bank.
Karl Toriola has taken the helm at the telecom behemoth, the most lucrative MTN Group division, a worldwide telecom corporation present across 20 African and Middle Eastern nations.
Dozie served as Chairman of MTN Nigeria from 2001 to 2019, when he sold his 1.6 per cent ownership in the company for N165.36 billion ($148.5 million).
On May 19, when the group’s share price surged beyond N270 ($0.6135) a share on the Nigerian Exchange, the market value of his investment increased to nearly $210 million from a low of $50.3 million.
In 2021, the company’s earnings rose past $710 million, so Dozie earned a massive payout of $6.6 million.
Since the telecom company’s earnings increased by a factor of two in the first three quarters of its 2022 fiscal year, he is likewise on pace to collect another big payout in 2023.
Paschal Dozie Business Career
After completing his formal schooling, Pascal Dozie Dozie founded the African Development Consulting Group in Lagos, Nigeria. Actually, Pascal never had a job with anybody. The likes of Nestle and Pfizer, among others, were quick to hire him as a consultant, thanks to his good fortune.
Later, he established African Capital Alliance, still serving as a Non-Executive Partner. He also started Kunoch Limited and serves as its Chairman. Dr Pascal Dozie is well known as the founder and former Chairman of Diamond Bank Plc, one of several enterprises he has started.
Pascal came up with the concept for Diamond Bank when he noticed the difficulties encountered by Igbo businesspeople. A straightforward notion in the 1980s set him on the path to true wealth.
Dozie, who grew up in a rural area of South-East Nigeria, saw merchants from his home region needed help transporting large amounts of cash to the commercial hub of Lagos. Highway bandits sometimes ambush them. Because of this problem, Dozie was an early adopter of electronic transfers in Nigeria, which allowed merchants to send money to Lagos without physically transporting it.
Paschal Dozie Net worth in 2023
According to several reports, Pascal Dozie is worth around $150 million. He’s a prosperous businessman who’s dealt with clients around Nigeria and beyond.