7 companies the late Nigerian businessman Pascal Dozie owned

Key Points

• Pascal Dozie, founder of Diamond Bank and MTN Nigeria, revolutionized Nigeria’s banking and telecom sectors, leaving a lasting legacy in both industries.
• Dozie’s role as chairman of MTN Nigeria helped shape the company into the country’s leading mobile network operator, with his stake valued at $52.3 million.
• Through Kunoch Holdings, Dozie fostered investments in sectors like hospitality, finance, and energy.

On Tuesday, April 8, 2025, Nigeria mourned the passing of Pascal Dozie, one of the country’s most influential figures in both finance and telecommunications.

At 86, Dozie’s passing marked the end of an era in industries he had shaped, particularly banking and telecoms, where his impact lasted decades. He is remembered as one of Nigeria’s most transformative entrepreneurs, with his work laying the groundwork for major changes in two of the nation’s most essential sectors.

Born on April 9, 1939, in Egbu, Owerri, Imo State, Dozie was raised in a devout Catholic family. His father, Charles Dozie, a catechist, instilled in him strong values of discipline and service—principles that would guide him throughout his life. These early lessons in faith and duty influenced his approach to business, leadership, and community service.

In 1990, at 51, Dozie made a bold move that would forever change Nigeria’s banking industry. He founded Diamond Bank, recognizing a gap in the market for a customer-focused, modern bank. The bank’s first branch opened in Lagos, and within a few decades, it became one of the country’s most respected financial institutions.

A landmark moment in his banking career occurred on Dec. 17, 2018, when Diamond Bank was acquired by Access Holdings. The deal not only marked the bank’s closing chapter but also underscored Dozie’s foresight and ability to adapt in an ever-changing financial landscape.

Dozie’s influence extended beyond banking into Nigeria’s telecommunications sector. As Chairman of MTN Nigeria from 2001 to 2019, he played a key role in guiding the company to its position as Nigeria’s leading mobile network operator. Even after stepping down, his 1.6 percent stake in MTN kept him connected to the sector, a lasting reminder of his contribution to the industry.

After the merger of Diamond Bank and Access, Dozie shifted his focus to Kunoch Holdings, the family office dedicated to managing the Dozie family’s investments. Under the leadership of his son, Uzoma Dozie—former GMD of Diamond Bank and founder of Sparkle Nigeria—Kunoch has become a dynamic investment hub, fostering innovation across various sectors.

Pascal Dozie’s impact goes far beyond the companies he built. His unwavering commitment, ethical approach, and innovative spirit have shaped Nigeria’s business community in profound ways. Today, you can still see his influence in the organizations that proudly carry on his values.

1. Diamond Bank

Founded in 1990 by Pascal Dozie to address a critical gap in Nigeria’s financial sector, Diamond Bank quickly set itself apart through innovation, customer-focused services, and early adoption of technology. Under Dozie’s visionary leadership, it evolved into one of Nigeria’s most trusted and progressive financial institutions. Its journey reached a pivotal moment in 2018 with a landmark merger agreement with Access Bank, the flagship arm of Access Holdings, following regulatory and shareholder approvals. Finalized in early 2019, the deal reshaped Nigeria’s banking landscape and cemented Dozie’s legacy as a transformative figure in African finance.

2. MTN Nigeria

Pascal Dozie played a pivotal role in introducing MTN to the Nigerian market—a move that revolutionized telecommunications across the country. As a founding investor, he contributed not only vital financial support but also strategic guidance that helped position MTN Nigeria as the nation’s leading mobile network operator. For years, Dozie ranked among the top ten largest individual shareholders in the company. At the time of his passing, Billionaires.Africa valued his 1.6 percent stake at N82.24 billion ($52.3 million). His early investment and continued influence highlight a legacy that reshaped Nigeria’s mobile communications sector and extended his impact well beyond the banking industry.

3. Marriot Hotel, Owerri 

In 2017, Pascal Dozie’s family office, Kunoch Holdings, partnered with Africa Capital Alliance to develop the Protea Hotel by Marriott Owerri Select—a 90-room, midscale hotel strategically located in Owerri, the capital of Imo State. Operated under the renowned Protea Hotels by Marriott brand, the property comprises 72 standard rooms and 18 suites, catering to both business and leisure travelers. This investment aligns with Dozie’s long-term vision of delivering sustainable, high-quality infrastructure that enhances Nigeria’s hospitality landscape. Beyond the physical development, the project highlights Kunoch Holdings’ commitment to regional growth and Africa Capital Alliance’s role in leveraging private equity to drive impactful, locally anchored ventures.

4. Africa Capital Alliance

Africa Capital Alliance (ACA) is one of West Africa’s trailblazing private equity firms, renowned for its African-led investment strategy and growing pan-African footprint. Established in 1997, ACA has built a strong reputation for delivering value across emerging markets, with operations and subsidiaries in Nigeria, Ghana, and Mauritius. As a founding partner, Pascal Dozie was instrumental in shaping the firm’s long-term vision and strategic direction. Under his leadership, ACA has attracted over $1 billion in total capital commitments, reflecting both its performance track record and its appeal to global and local investors seeking exposure to Africa’s dynamic growth markets.

5. Kunoch Holding

Kunoch Holdings is the investment arm and family office of the Dozie family, strategically focused on identifying and capitalizing on venture opportunities that are either rooted in Nigeria or bring measurable value to the country. The firm’s diversified portfolio spans key sectors including education, hospitality, finance, and ICT, all underpinned by a steadfast commitment to environmental sustainability and social responsibility. In August 2014, Kunoch Holdings made a significant expansion in the financial sector by acquiring Actis DB Holdings Limited, a special purpose vehicle jointly owned by Actis LLP and CDC Group plc. This acquisition enabled Kunoch Holdings to secure a 14.79 percent equity stake in Diamond Bank, further solidifying its presence in the Nigerian financial landscape.

6. Kunoch Oil Services Limited

Kunoch Oil Services Limited is a specialized energy investment firm that holds a strategic 15 percent equity stake in Nigeria’s OML 146. This onshore block is home to the Agu Conventional Oil Field—a producing asset that plays a significant role in the nation’s hydrocarbon portfolio. The Agu field is operated by Sterling Exploration and Energy Production, a leading Nigerian upstream company recognized for employing advanced extraction technologies and sustainable practices. This investment not only underscores Kunoch’s influential position in the Nigerian energy sector but also reflects its broader commitment to driving value through diversified oil and gas assets.

7. Kunoch Digi

Kunoch Digi is a digital skills hub based in Owerri, Imo State, designed to close the tech talent gap in Southeast Nigeria. It offers hands-on training in high-demand fields such as UI/UX Design, Digital Marketing, Data Analysis, Front-End Development, and Cybersecurity. With a focus on practical, job-ready learning, Kunoch Digi empowers students, from aspiring professionals to career switchers, with the tools to thrive in a fast-changing digital economy. Its curriculum blends theory with real-world application, cultivating a pipeline of skilled talent for both local and global tech ecosystems. By making tech education accessible and relevant, Kunoch Digi is not only meeting market needs but also fueling inclusive, long-term economic growth in the region.