Checkout Pascal Dozie net worth and interesting details about his biography. Pascal Gabriel Dozie is a successful Nigerian businessman who has built powerful structures in the Nigerian business landscape that has provided tons of business opportunities for tons of people in the country, and they keep fetching him huge money that has made him one of the richest men in Nigeria.
Pascal is the founder of Diamond Bank Plc, and he used to be the Chairman of the bank for some time. He is a guru when it comes to the banking business, as he has adequately proved himself and his expertise countless of times before now. He has also shown that he is not only all about the banking industry but that he is flexible enough to flourish in various dimensions. He is an expert in investing and is one of the top shareholders in MTN Group. Additionally, he is founding partner of Africa Capital Alliance.
Pascal Dozie Net Worth 2020 And Biography
- Full Name: Pascal Gabriel Dozie
- Date of Birth: 9th April 1939
- Nationality: Nigerian
- Occupation: Entrepreneur, Investor
- Net Worth: $1.1Billion
Pascal Dozie Background
Pascal Dozie was born on the 9th of April, 1939 in Imo State, Eastern Nigeria. The name of his dad is Charles Dozie, and he actually is a Catholic Catechist.
Pascal spent his childhood in his place of birth (in Owerri, Imo State), and he obviously would retain fond memories. His parents ensured he was properly educated as the value and importance of education has before quite glaring.
Pascal got his First School Leaving Certificate (FSLC) at Our Lady’s School Emekuku, before moving to Holy Ghost Juniorate Seminary and Holy Ghost College, in Owerri to enhance his knowledge and accumulate more education.
After writing the necessary West African Senior School Certificate Examination (WASSCE), he traveled outside the country to the United Kingdom to study Economics at the prestigious London School of Economics. Before departing their country, being a man who has grown to see and know the essence of education, he still proceeded to City University in London to study Operational Research and Industrial Engineering.
He married his heartthrob Chinyere, and their union has produced five lovely children.
Pascal Dozie Career Journey
He started his career from scratch too, but he obviously has a big dream, gazing at the bigger picture. He started with the National Economic Development Office before returning to Nigeria. We should also add that in the UK, Pascal worked as a part-time lecturer at the North-Western Polytechnic, London.
Before settling fully in Nigeria, after leaving London, he traveled to Uganda where he became a consulting economist at African States Consulting Organisation In 1970.
After spending about one year in the country, he decided to come back to his home country (after the civil war), and it proved to be a wise decision that paid off very well.
Considering his wealth of knowledge and experience, it was not too difficult for him to settle down in Nigeria and began serving important responsibilities. He was hired by the country’s apex bank under the leadership of Clement Isong to conduct studies on Co-operative and Commerce Bank.
We should also add that Pascal has served in various huge capacities, and it gets easier for him as a result of his expertise and results. Take a look at some of them:
- As a former director at the Central Bank of Nigeria (CBN)
- As a former chairman of the Nigerian Economic Summit Group
- As a former president of the Nigerian Stock Exchange
- As a former chairman of the Nigeria Business Support Group
- As a former chairman of Progress Bank
- Chairman of Kunoch Ltd.
Pascal Dozie Net Worth 2020
The founding partner of Africa Capital Alliance Pascal Dozie net worth is estimated to be around $1.1 Billion.
Pascal Dozie Entrepreneurial Journey
The first company he started in Nigeria is Africa Development Consulting Group (ADCG). What he simply did was to build a business around his expertise (as he has gathered a lot of experience and knowledge abroad that has made him a reliable authority).
And so, it was easy to some extent to get the attention and partnership of some big companies such as Nestle.
Around 1985, he identified a problem that is being faced by his kindred in the eastern part of the country. He discovered that traders are not having pleasant times as far as banking is concerned, and so, he rose up to the occasion to help eradicate their problems. He took the appropriate steps to apply for a banking license, and the result was Diamond Bank.
The bank started humbly too, on a level where shares were not too high. As of 1990, CBN’s standard bank requirement was still N20million, and he was able to raise the money needed. The business started in 1991 from Pascal’s Victoria Island office.
He utilised his expertise to ensure the progress and growth of the bank, that as of 2013, Diamond Bank already has over 200 branches in different parts of the country. He was the bank’s first chairman and served in the capacity till he left in 2006. He gave the baton to Emeka Onwuka who also left the position in 2016, handling over to Uzoma Dozie (Pascal’s son). However, in 2018, the Bank was acquired by Access Bank (a merger took place).
For those who hold shares in Diamond Bank, the arrangement was that for every seven shares owned, they get two Access Bank shares.
This might sound like a smooth sail for Pascal – but it wasn’t actually, as he also has his own fair share of issues on the journey. For instance, along the lines, the CBN asked all banks in the country to ensure they have at least N25billion share capital, and all Pascal’s could boast of is just N6.4b.
The onus then lies on Mr. Dozie to look for a way out before losing the bank’s license, and the solution he could come up with is to list his own shares so as the Bank could raise funds. Although they could meet up with the demands of the apex bank, Pascal lost a hefty chunk of his stake in Diamond Bank.
Pascal Dozie And MTN Group
At some point in time, MTN was trying to storm the Nigerian market from South Africa, and the management met Dozie to raise 40% of the money required to make it happen. He embraced the offer and tried to gather money together from various sources. Unfortunately, he couldn’t meet up to expectations but was only able to raise 20% of the funds. While some persons were worried that the company can’t flourish in Nigeria due to the fact that NITEL couldn’t, Pascal saw something different, and his permutations worked, as MTN has grown quickly to become the country’s biggest telecommunication firm.
Nevertheless, in 2019, he stepped down from the Board after the expiration of his tenure.
Pascal Dozie Books And Lessons
Pascal Dozie is also an author who published the book Perspective on Nigeria’s Economic Development. Volume I and II.
He explored good corporate governance as well as other important talks like national development and political governance.
Generally, his career teaches younger folks not to give up in the face of challenges, as he, when faced with issues during his journey, chose to stand for what he believes. Additionally, it can’t be ignored that Pascal is a bold Problem Solver who was able to quickly identify a pressing issue and took appropriate steps to solve them. So, business is about solving issues, and one must be constantly looking out for problems to solve out there.
Pascal Dozie Awards And Recognitions
He has been applauded for his superb exploits and has received such important awards like:
- National Award of the Order of the Niger (OON)
- Commander of the Order of the Niger (CON)
- All Africa Business Leader Award (AABLA), Lifetime Achievement Award Winner
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