The men that founded these companies died a long time ago but, to a large degree the culture of the founders which centres' more on to each according to his or her ability is chiefly responsible for the generational existence of the companies.
I need not mention the names of Igbo companies that ought to have been fitted along the sequence of the above referenced companies but failed along the way because of our cultural diokpara norm even when such individuals are complete nonentities.
It is worse when the family happens to be polygamous. Founders of prominent Igbo companies has come to take note of the limitations of their offspring and hence the adoption of Western "WILL" culture. This they do, believing that it is a guarantee of the company growth and continuation.
When the chips are finally down, the anticipated solution called the " WILL" gets tied up in court for years and hardly does any business establishment survive such years of docility.
My family experience has thought me that,, when you balkanize an established company under the auspice of sharing the assets, not only does the company's years of goodwill balkanized also, the ability to raise block capital for the growth to the next level is equally off the table.
It is really a difficult situation to deal with because of the hundred of years the norm has remained cardinal.
Should we then as a people , remain imprisoned by the retrogressive obtainment?
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The corollary of di okpara on our businesses keeps us within the arms of sole proprietorship, so as to avoid third party getting/talking control of our business
ReplyDeleteThe reasons still falls within the post effect of the civil war, every Igbo man was given a flat rate of 20 pounds by the highest ranking civilian in Gowon's reign (Awolowo). This goes a long way to be a militating factor against Igbo's during Gowon's indigenization policy. Awolowo obscurantism was aimed to trapped ndi Igbo in vicious cycle of poverty, that was why no Igbo man was able to acquire any company during Gowon's indigenization policy.
Through persistence and hardworking, the Igbo's somehow find a way and break the vicious cycle of poverty and begin to individually build companies to their individual names and have a fiefdom over the companies.
The sole owner altitude is actually the cause of the problem, Rich men would prefer to handle over the company to his first son so as to keep on having sole control over the business. They obstinate over it no matter what, leaving the company in hands of amateur thereby affecting the company's growth. Though this is not always the case, but what petrified me most is the way the so called di okpara will remiss his younger ones just in the name if one man business.
The Igbo's business men should float their shares in the stock market, they should make the company open for more people to buy their shares and bring in new ideas,connections and huge capital to expand the company to big enterprise and still maintains the lion shares.
Using Innoson motors in nnewi as a case study, if he float his companies, believe you me he will grow far above his present capacity and make more sales.
Actually the problem is not our culture or di okparanism but rather it lies solely on our thoughts to have absolutely control over any company we acquire with our own sweat . The Igbo's should perished the ideal of sole ownership and float their companies that is what will guarantee mostly that it will stand the test of time.
~Comrade Jude Ezim