History
According to the founder, Pharm. Anyaogu Hope Chibuisi, the name Hope-cee, actually surfaced in his first year at the Faculty of Pharmacy, Obafemi Awolowo University, Ile-Ife. There was this classmate, Muyiwa (now a Pharmacist), who was found of attaching the first name, ‘Hope’, with the initial, ‘C’, and calling it as ‘Hope-cee’. The founder did not take note of the name, until 1998, when the name emerged as the best for the company, Hope-cee Pharmaceuticals.
The company was incorporated in 1998 in Nigeria. The first premises of the company would have been located at Okokomiko, Lagos, but after paying for two-year rent Pharm. Hope discovered that one of his friends had already rented a shop at the locality. Pharm. Hope decided to leave for another location because it wouldn’t look normal being a friend and competitor at the same time. The landlord refused to refund the money or allow for subletting until after the eighteenth month, remaining six months. Luckily another premises was found at Thomas Street, Ebute-Metta, but there was not enough money to pay for it. Out of sympathy the Agent agreed to collect one-year advance payment (at that time in Lagos, landlords always demand for two or more year advance payment for a new premises). The following morning of the day of completion of woodwork at the premises, it was found out that somebody had padlocked the premises claiming of paying for the same. Actually, the developer collected two-year advance payment because the Agent did not remit the payment in time. The premises was locked for two months before Pharm. Hope was able to raise another money to complete two-year advance payment and settle the other party.
After all those expenses the Founder was left with Twenty thousand Naira only (N20,000.00). The company was able to make their first purchase of Forty thousand Naira only (N40,000.00), with instant cash payment of Twenty thousand Naira only (N20,000.00). Invariably, the company started business with a running Capital of Twenty thousand Naira only (N20,000.00) in 1998.
Read more about this topic: Hope-cee Pharmaceuticals
Famous quotes containing the word history:
“... the history of the race, from infancy through its stages of barbarism, heathenism, civilization, and Christianity, is a process of suffering, as the lower principles of humanity are gradually subjected to the higher.”
—Catherine E. Beecher (1800–1878)
“There is no history of how bad became better.”
—Henry David Thoreau (1817–1862)
“The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.”
—Gilbert Keith Chesterton (1874–1936)