John Holt Plc
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[edit] History
What is today a giant business group in Nigeria was in fact the pioneering effort of one man.
The story began in 1862 when John Holt, just under 21 years old, with £27 in his pocket, sailed from Liverpool to take up appointment as a shop assistant in a grocery store in Fernando Póo (now Equatorial Guinea). Five years later, he bought out his employer and subsequently built up a produce trade with the Delta Ports. Palm Oil, Palm Kernels, Rubber and Cocoa were exported to England. Imports included textiles from Lancashire and bicycles from Birmingham. In 1897, John Holt established his first VENTURE in Lagos, Nigeria.
Up to the Second World War, much of John Holt's business was in distribution and export of produce. A fleet of ships operated a fortnightly service from Liverpool to West Africa and the Company also had its own fleet of river craft.
Apart from produce and merchandise, these river craft also carried cash. Where banks did not exist, John Holt had strong rooms. Even after banks were established, many Nigerians preferred to deposit their cash with John Holt.
John Holt & Company (Liverpool) Limited was incorporated in 1897. In 1961 the company was incorporated in Nigeria as John Holt Limited.
