Red Star Express Records Exciting Growth in 2 Decades

Red Star Express, a leading courier company in Nigeria, has grown from N138m turnover in its first year of operation in 1992 to N5billion as the company marks twentieth anniversary in 2012.


The company has grown to become the best in its category of service and one of the top three courier companies in Nigeria, in terms of revenue, network coverage and market share in the domestic and international market.

It prides itself on automatic proof of delivery and advanced technology with all operations done online and real-time.


Red Star Express is a licensee of FedEx, the world leading air express company with over 650 aircrafts and more than 220 delivery destinations worldwide.


FedEx has consistently been rated among the top 10 most admired companies in the world over the past 10 years. Red Star Express started operation in Nigeria in 1992 and now has over 156 offices and over 1520 staff all over Nigeria.


Meanwhile, it was an inspiring moment for entrepreneurs at the Red Star Express 20th anniversary public lecture titled “Building an Entrepreneurial Brand: Red Star Express,” held in Lagos, recently.

Mr. Emeka Onwuka, speaking during the public lecture, x-rayed the qualities that make a brand like Red Star Express stand strong in today’s highly competitive market and global economic upheavals.


He said the company has been able to weather the storm, citing the N5 billion turnover profit declared by Red Star Express in 2012 in spite of the challenges in the nation’s business environment as a testimonial.


“Nigeria needs more Red Stars, especially in the communication sector”, said Onwuka, who is also the Chairman of Enterprise Bank.


Dr. Mohammed Koguna, chairman, Red Star Express Plc, in his welcome speech said, “It has been 20 years of an interesting, but sometimes difficult journey. In the early years there were challenges due to the business environment.   The intensive nature of the business requires a huge fund outlay. We cannot but recognized the loyalty and commitment of our customers. Today, you have remained faithful to us and have shown immense belief in our ability to serve you.”


The public lecture also witnessed the launch of a book titled ‘Inspiring Growth – The history of Red Star Express’ by Ejine Olga Nzeribe, a former employee of Red Star Express. The book covers the story of Red Star Express from inception to date, highlighting the business challenges and various restructuring that the organization has had to deal with to be where it is today.


The Chairman who encouraged every entrepreneur to read the book further said, ‘It is good for companies to record experiences, reflections and lessons learnt which form part of our collective memory and intellectual capital. This book is a story of the life of a company which had challenges it was to overcome. It is a necessary read for entrepreneurs, business managers and students of business. By sharing our experiences, we hope you will learn something new.”


 Red Star Express commenced operations on October 12, 1992. Founded by the combined energy of Messrs Sonny Allison, Eddy Olafeso and Patrick Nwosu, it has been described as "the fastest growing courier company in Nigeria with an annual growth rate in double digits."