Cosmas Maduka is a Nigerian philanthropist and businessman who founded, chairs, and leads the Coscharis Group. His exceptional business acumen and philanthropic endeavors. His life narrative is one of vision, tenacity, and unrelenting resolve. This article explores the life and accomplishments of Cosmos Maduka, illuminating his incredible rise from impoverished origins to become a giant of industry.
Early Life
Maduka was born into the household of Mr. Peter and Mrs. Rose Maduka in the City of Jos on 24 December 1958. He is an Igbo Christian from Nnewi, Anambra State. Two years after his father passed away, at the age of six, Maduka started his entrepreneurial adventure. In order to assist his mother, he left primary school and began selling akara, a common Nigerian staple made of beans.
Career
Cosmas was brought to his maternal uncle when he was 7 years old to work as an apprentice in cars. He worked for his uncle in Lagos, who was a motorbike parts dealer. Sadly, at the age of 14, his uncle released him of his responsibilities.
Cosmas Maduka, Chairman of the Coscharis Group
Following some time spent dealing motorbike components, Cosmas founded what is now Coscharis Motors, currently known as Coscharis Group, in 1977. Coscharis is an amalgam of his name, Cosmas, and his wife’s name, Charity. Coscharis began importing and distributing car accessories, spare parts, and other automotive supplies for Japanese vehicles.
The business flourished, and in the 1980s the Nigerian government authorised ten Nigerian businesses to import goods. When Coscharis was chosen as one of the chosen companies, a new era for the business began.
Awards and Recognitions
The University of Nigeria, Nsukka awarded Cosmas Maduka an honorary doctorate in business administration (PhD) in 2003. Maduka also presided over the Nigerian Table Tennis Federation as its president and chairman for sixteen years, a period in which Nigeria won every tournament.
He guided the Nigerian team to four Olympic Games: Beijing 2008, Atlanta 1996, Athens 2000, and Sydney 2004. He was admitted as a 2012 graduate of Harvard Business School after completing an executive education programme. One of the select few recipients of President Goodluck Jonathan’s 2012 National Honours of the Commander of the Order of the Niger (CON) was Cosmos Maduka.
Personal Life
Cosmas Maduka is well-known for his Christian beliefs and is regularly seen giving sermons at youth conferences or churches in Nigeria. Maduka claims that in addition to hearing the late Reverend William Marrion Branham give inspirational sermons, he devoted his life to Jesus at a young age, which had a profoundly good influence on him. He and Charity Maduka were wed until 2021 when she passed, and they had four sons and one daughter. He resides in Lagos, Nigeria.
Net Worth
When Maduka appeared on the Forbes Africa TV series “Worst Day with Peace Hyde” in 2015, his estimated net worth was $500 million USD. It was also stated that Ifeanyi Ubah of Capital Oil and Gas had defrauded Maduka of N21 billion during a commercial deal.
