Pascal G. Dozie Net Worth & Biography
How Much is Pascal Dozie Worth?
|Net Worth||$700 Million|
|Name||Pascal Gabriel Dozie|
|Date of Birth||1939|
|Country of Origin||Nigeria|
|Source of Wealth||Entrepreneur, Economist|
|Updated||As of October 2022|
Pascal Dozie, who was born in Owerri, Imo State, in 1939, amassed a wealth by determination, diligence, and wit during a protracted and challenging journey.
His business career got off to a rocky start in a Nigeria torn apart by the deadly Biafran war, which raged from 1967 to 1970 and claimed more than 30,000 Igbo lives. At the time, Mick Jagger, the lead vocalist of The Rolling Stones, was a classmate of Pascal at The London School of Economics, where he had left out to start the English rock band.
Due to their inability to find work, Pascal and his wife decided to go to the US in quest of better opportunities. However, they abruptly modified their plans because of his mother’s poor health and desire to be nearer to her first grandchild, Uzoma.
Pascal had to find another source of income right now. After working for big corporations like Nestle and Pfizer, he made the decision to launch his own consulting company, the African Development Consulting Group. “My first objective was survival and of course I had an ambition. You set up a company, you want that company to grow; you want it to be robust and profitable. Being in consulting was a tricky affair because you have a lot of receivables. It was a hustle job. A hustle to get payment and a hustle to do the job all the time.”
Prior to continuing his schooling in London, England, Pascal Gabriel Dozie attended his local government’s primary and high schools until they were both completed. At the London School of Economics, he studied economics.
He then completed a master’s program in administration at City University of London, where he received his diploma in 1963. He studied Operational Research and Industrial Engineering at the institution before beginning his master’s program there.
Pascal Gabriel Dozie founded his own consulting firm, the African Development Consulting Group, in Lagos, Nigeria, following his studies. Pascal never did, in fact, work for anyone. He was quite lucky to amass several consultants from major corporations like Nestle and Pfizer.
He later created African Capital Alliance and currently serves as a Non-Executive Partner. Additionally, he founded Kunoch Limited and serves as its chairman. Dr. Pascal Dozie is most recognized for being the founder and former chairman of Diamond Bank Plc, among the businesses he has built.
When Pascal became aware of the challenges faced by Igbo businesspeople, he had the concept for the Diamond Bank. In the 1980s, he had a straightforward thought that led to actual wealth.
Dozie observed that when traders from the far-flung communities in the South-East of Nigeria, where he was raised, travel to Lagos for business, they must carry enormous bundles of cash. They can occasionally run into outlaws on the highway. Dozie was motivated by this to invent electronic transfers in Nigeria so that traders wouldn’t have to transport their cash to Lagos.
This one action resulted in the establishment of Diamond Bank, which began operations in 1991. Twenty employees and $5 million were on hand when the bank first began operations from a third-floor office in Victoria Island.
The largest telecom company in Nigeria, MTN Nigeria, has Pascal Dozie as its chairman of the board. ADIC Insurance Limited and Aluminium Extrusion Industries PlC are among his other business holdings. Former President of the Nigerian Stock Exchange and former Director of the Central Bank of Nigeria, Pascal Dozie most recently served as Chairman of the Nigeria Economic Summit Group.
Pascal Dozie is married to Chinyere Dozie and together, they have five boys.
Pascal Dozie Net Worth
Pascal Dozie is a Nigerian economist and the founder and former Chairman of Diamond bank and the Chairman of Pan-Atlantic University and also the ninth richest Igbo man with a net worth of $700 million, as of October 2022.
In one of his Forbes Interviews, Pascal said, “You will not find any company owned by Nigerians being managed by the third generation or fourth generation as such, but you will find that among Indians in Nigeria, and the Lebanese in Nigeria. But ours [Nigerians] have been short-term because the first generation sets up the business, then the next generation tries to develop it and the third generation squanders it.” These days, that has been Pascal’s real focus. He believes in order for Nigeria to effectively compete globally, there has to be a focus on succession-planning.