Cosmas Maduka Biography: Early Life, Career, Awards, Wife, Children & Net Worth
Cosmas Maduka CON (born December 24, 1958) is a Nigerian millionaire businessman, philanthropist, and evangelist. He founded and currently serves as chairman of the Coscharis Group. Maduka was estimated to be worth $500 million USD after appearing in Forbes Africa’s TV series “Worst Day with Peace Hyde” in 2015. Maduka also appeared in a CNN Marketplace Africa interview with Zaner Asher.
Cosmas Maduka Biography
Dr. Cosmas Maduka was born on December 24, 1958, in Nnewi, Anambra State, Nigeria. He grew up in a humble Christian home where hard work and honesty were highly respected.
Unfortunately, Cosmas’ life took a bad turn when his father died when he was only four years old. The death of his father compelled him to assume early responsibility.
His widowed mother struggled to sustain the family, so young Cosmas had to learn to survive via hard work.
Cosmas Maduka Educational Background
At the age of seven, he dropped out of school to help his mother sell bean cakes (akara) to support the family. His early years of suffering honed his perseverance and entrepreneurial mindset, which would eventually define his success story.
Career
Maduka formally entered the business world at the age of 17 after being mistakenly dismissed with the sum of N200.00 by his uncle, who had earlier recruited him as an automobile apprentice. He co-founded a spare parts firm called CosDave with his friend Dave.
The venture also failed sooner than intended, so Maduka founded Coscharis Motor in 1977 with three hundred naira (N300), focusing on the sale of vehicle spare parts.
The company’s name, according to him, is a combination of his first name, Cosmos, and his wife, Charity, whom he married at the age of 21. Maduka’s financial breakthrough began in 1982, when the Nigerian government awarded import licenses to ten (10) motor businesses, including Coscharis.
Today, the Coscharis Group is a $500 million conglomerate with companies in manufacturing, ICT, petrochemicals, auto care and auto components, automobile sales and services, agriculture, and agro-allied businesses.
Coscharis Motors is a significant distributor of premium automotive brands such as Range Rover, Ford, and Jaguar.
In 2015, Coscharis Motors became the sole distributor of BMW in Nigeria, as well as the first company to build an assembly plant for the Ford Ranger in Nigeria, and won Auto Brand of the Year at the Marketing World Awards in Ghana.
In 2016, Anambra State approved 5000 hectares of land for Coscharis Farms to cultivate rice; the project is expected to generate 3000 jobs once completed. The Coscharis Group is recognised as one of the top 50 brands in Nigeria by Top 50 Brands Nigeria.
Maduka attributed his commercial success to his Japanese connections. According to Maduka, his early close contact with the Japanese instilled in him the values of commitment, humility, precision, and hard work, all of which contributed to his business success.
He had promised to acknowledge it in his autobiography. Cosmas Maduka sits on the board of various reputable firms and organizations. He worked as a Director of Access Bank Plc., one of the biggest banks in Nigeria for 12 years, from 2000 to 2012. Cosmas Maduka specialises in business mentoring and empowerment.
He relates this in stories during a recently concluded ‘Stanel Youths Empowerment Master Class’ held at Stanel Dome in Awka, Anambra State, about how he empowered Dr. Stanley Uzochukwu, Chairman and Owner of Stanel Group, with a business start-up capital of One Hundred and Fifty Million Naira (N150,000,000), making him one of Nigeria’s youngest billionaires.
In 2003, Cosmas Maduka was awarded an Honorary Doctor of Business Administration (PhD) from the University of Nigeria, Nsukka. Maduka also served as President/Chairman of the Nigerian Table Tennis Federation for 16 years, during which time Nigeria led Africa in all competitions.
He led the Nigerian team to the Olympic Games in Atlanta 1996, Sydney 2000, Athens 2004, and Beijing 2008. In 2012, he was admitted as a Harvard Business School alumnus after completing an Executive Education Program.
In 2012, President Goodluck Jonathan awarded Cosmos Maduka the National Honours of the Commander of the Order of the Niger (CON).
Cosmas Maduka Church
Cosmas Maduka is a devoted Christian who frequently preaches the gospel on the streets and speaks at churches and youth conferences in Nigeria. His faith is important to his life, and he attributes his personal and professional success to his strong Christian views.
Cosmas Maduka Wife
He married Charity Maduka (1958-2021) and has four sons and a girl. He lives in Lagos, Nigeria. Sadly, Charity Maduka died in 2021 at the age of 63.
Cosmos Maduka appeared on Forbes Africa’s cover in 2015 as the man who turned $1 into $500 million, and he was also featured in an exclusive interview for Forbes Africa TV’s “My Worst Day with Peace Hyde”.
Cosmas Maduka Children
Cosmas and Charity had five children—four sons and one daughter. They remain a close-knit family and continue to honour Charity’s legacy.
Cosmas Maduka is well-known for his Christian faith, and he frequently preaches at churches and youth conferences in Nigeria.
According to Maduka, he devoted his life to Jesus early in childhood, which had a huge impact on his life, as well as listening to motivational sermons by the late Reverend William Marrion Branham.
Cosmas Maduka Net Worth
Cosmas Maduka’s net worth is predicted to be approximately $800 million as of 2024, reflecting his incredible entrepreneurial path and success as the founder and CEO of Coscharis Group. His riches are the result of decades of hard work, resilience, and clever business decisions that have elevated his company to the ranks of Nigeria’s most respected corporations.
Social Media
- X: @DrCosmasMaduka
- Instagram: @cosmasmadukaofficial
