Business & Finance

Top foreign family businesses in Nigeria

Don’t you just love Asian and Middle Eastern businesses in Nigeria? Dr. Ola Brown calls them Nimble Ninjas because of their long-term approach to building profitable businesses, which usually addresses mass market needs. Here are some notable ones:

1. The Keswanis (Artee Group): Founded in 1998. Notable brand: SPAR services.

2. The Chagourys (Chagoury Group): Founded in 1971. Notable brands: Hitech Construction, Eko Hôtels and Eko Atlantic.

3. The Hathiramanis (Dana Group): Started in the 1970s. Notable brands; Dana Steel Mill, Dana Motors Limited, etc

4. The Mahtanis (Churchgate Group): Started in 1968. Notable brands: World Trade Center Abuja, Stanbic IBTC

5. The Vinks (Tropical General Investments Group): Started in the 1980s: Notable brands: Big Bull Rice (started Chi Limited but sold to Coca-Cola)

6. The Aswanis (Tolaram Group): Been in Nigeria for more than 60 years. Notable brands: Indomie

Given how long these businesses have operated and thrived in Nigeria, maybe we could learn a thing or two from them.

Source: “Inside the Investment Portfolios of Top Ten Int’l Family Investors in Nigeria (

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Babatunde Akin-Moses

I am currently CEO and co-founder of Sycamore, a peer to peer lending platform that connects lenders to borrowers using technology. I love to write about business, economy, policy, startups, inspiration and entertainment. I am also deeply passionate about making Nigeria and Africa as a whole, a much better place to thrive and prosper for all.

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