• Tuesday, February 27, 2024
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SUNU trust deed keeps firm existence longer

SUNU trust deed keeps firm existence longer

Late SUNU founder and president, Pathe’ Dione has set high Corporate Governance standards as he establishes a Trust Deed for SUNU Group which has 34 subsidiaries in 17 African Countries.

With this, SUNU Group has been put on a part to exist for a long time to come.

This is contrary to the outcomes of many companies or groups founded by an individual where the establishment dies with the founder.

Read also: SUNU Assurances Nigeria pays 3kobo dividend, N1.47bn claims

Dione who passed away in 2023 at the age of 81 years had envisioned an establishment that thrives beyond his family but soars across the African continent for the sake of humanity.

To mark the anniversary of the death of DIONE in a daylong event across the countries where SUNU is present, including Nigeria, associates, friends and families eulogized him, noting he left a mark on the continent.

In Nigeria, a mass service was held at the Catholic Chaplaincy Centre, College of Medicine and Lagos University Teaching Hospital, Idi Araba Lagos while a Koranic reading was held at the NTA Mosque, Alunadu Delio Way, Victoria Island Lagos.

Also, a film on his life and career was shown at the Ebony Life Cinema, Adetokunbo Ademola Street Victoria Island Lagos.

The company further announced that a foundation will be set up in honour of the late founder.

Samuel Ogbodu, managing director, SUNU Assurances, describes Late Dione as an eminent player in the financial services sector, who devoted his entire life to contributing to the development of Africa by Africans and for Africans

He said Dione lived out his vision to establish insurance and other financial services across the African continent.

Ogbodu noted that the late founder put in place a trust wherein, he put in people, including his children that will run the company but cannot sell it.

He said: “The trust indicates that SUNU Group would continue to run for life. Even the children cannot take over the company. There is a trust deed already that manages the company. This is exceptional because most owner companies, especially those founded by individuals die and crumble when the founder dies. However, this will not be the case for SUNU Group.

“Our late founder did marvellous things. For instance, he was able to establish the solo group, which comprises several insurance companies, health insurance, banking and microfinance, among others. He was able to do this in 17 African countries. In totality, he established 34 companies in 17 African countries. It’s hard to find a single individual to do this. He has done very well for our