SUNU Founder Establishes Trust, Set Corporate Governance Standard

Late SUNU founder and president, Mr. Pathe’ Dione, set the highest Corporate Governance standard as he established a Trust Deed for SUNU Group which has 34 subsidiaries in 17 African Countries.

With this, SUNU Group has been put on a path to exist for life.

Mr. Dione, who passed away in 2023 at the age of 81, 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 Mr. Dione in a daylong event across the countries where SUNU is present, including Nigeria, associates, friends and families eulogised him, noting he left a mark on the continent.

In Nigeria, a mass was held at the Catholic Chaplaincy Centre, College of Medicine and Lagos University Teaching Hospital, Idi Araba Lagos while a Quranic reading was held at the NTA Mosque, Victoria Island Lagos. Also, a film on his life and career was shown at the Ebony life Cinema, Victoria Island Lagos.

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

The managing director, SUNU Assurances, Mr. Samuel Ogbodu 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. But 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 profession and humanity.

He disclosed that a Pan-African Prize called the Pathe Dione Prize will soon be established in all countries where the SUNU Group is present, in homage to Mr. Dione’s vision to serve Africa.

The managing director, SUNU Health, Dr. Patrick Chukwuemeka Korie, on his part, said Mr Dione is a great pan-Africanist.

“He is a man who started off from financial services to health, hospitality services, estate and among others. All these were developed in Africa for Africans. He currently has companies in 17 African countries and is still expanding in both Anglo and francophone. He believes we have the resources and he did put in effort and inspiration.

“Today, the resources are here and we have a pan-African country, all from the fruit of his labour. He has left a part and we are striving to keep that part in the health services. He left a part for us to follow and it is, ‘Humanity is the Center of our Ambition”. So what he is thinking of is the entire human race because he said humanity is a centre of his ambition”, he stressed.

Former executive director of SUNU Assurances, Mr. Leke Hassan said: “Mr. Dione was a wonderful man, missionary and an entrepreneur. He is a man of vision and he lived for humanity. He had a vision of servicing Africa and Africans through insurance positions and he provided a global platform for Africans to access excellence insurance policy across Africa. He was an epitome of diligence and professionalism that believed so much in doing the right thing.

“His Corporate Governance in doing business was unrivalled and he laid down a good legacy for SUNU to grow across Africa. He believed so much in Corporate Governance and living to satisfy customers and the entire staff force across the globe.”

Born on December 29th, 1941 in Dakar, Senegal, of French-Senegalese nationality, Mr. Pathé DIONE was the president and CEO, founder of the SUNU Group created 24 years ago.

With a turnover of 234 billion FCFA (357 million euros) by the end of 2021 and more than 567 billion FCFA (865 million euros) in assets under management, the SUNU Group is the leading Life insurer in the CIMA zone (Inter-African Conference of Insurance Markets).