I was to end the year 2021 without naming any business leader in my yearly Tekedia Businessperson of the Year. The fact is this: while there was effervescence here and there, there was no clear person in Nigeria I would have bestowed the honour for 2021.
Sure, the startup founders raised money. But generally, as a village boy, I have never used raising money as a demonstration of broad excellence. I see it as I Owe You to investors, and until there is a great exit, I do not anoint anyone. And I think I am correct: old Konga raised close to $100 million and still “failed”!
So, with the startups out, I waited to pass this Tekedia tradition. But magically, the Union Bank acquisition by Titan Trust Bank came from nowhere. And I felt that any human who orchestrated for a two-year bank (not sure I have ever said Titan Trust Bank before) to acquire one with more than a century of tradition should be unique.
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After doing all my research, I have found the businessman behind the deal. Cornelius G. Vink (MFR) is the Chairman and Founder of TGI. TGI is a conglomerate and an investment powerhouse. It is not new in Nigeria but buying Union Bank is a clear ascension. TGI itself is owned by Vinc Corporation which is a foreign company.
Vinc Corporation controls about 24 companies in the expansive conglomerate empire, out of which Chi Limited that was recently sold to Coca Cola for $1 billion. This company is in every sector.
For that, Cornelius G. Vink (MFR) is Tekedia Businessperson of the Year 2021.
Titan Trust Bank Acquires 89.39% Majority Stake in Union Bank Nigeria
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