To improve performance and increase profitability, Odu’a Investment Company Limited has mapped out ambitious growth plans that would re-position the organization to fulfill the aspirations of the founding fathers and serve the interest of all the stakeholders now and in the future.
The firm is owned by the six South-West states. Head of Corporate Affairs/ Marketing, Victor Ayetoro, said the decision to chart a new course was made at the organization’s two-day brainstorming strategy session facilitated by KPMG Advisory services for the company’s Board of Directors, Chairmen of the Board of Subsidiaries and Chief Executive Officers of its subsidiary companies and the management team of Odu’a Investment Company in Lagos over the weekend.
“The retreat articulated the building blocks for achieving the five years ambitious plan based on the strategic pillars of growth and expansion; Investment Excellence; Profitability and Efficiency; Governance and Reporting as well as People, Culture and Transformation.”
Ayetoro said some of the resolutions arrived at during the retreat included the decision to focus investment in priority sectors of real estates, energy including oil and gas, hospital, agriculture, logistics and storage, healthcare, ICT/ digital and financial services, which will underpin the activities of the entire group.
The Chairman of Odu’a Investment, Dr. Segun Aina (OFR), charged participants on the need to take the company and its subsidiaries to a level that each and every one would be remembered for – delivering the Odu’a of our dream. He noted the retreat has put in place required strategies needed to refocus, recalibrate and accelerate delivery of Odu’a Investment’s desired result, which according to him include “delivering shareholder’s value and social impact which will be based on asset optimization and efficient management of resources”.
He added that urgency and priority attention will be given to human capital development, digital transformation and creating joint ventures and alliances through strategic partnerships.
Some quick wins, according to the Chairman, included completion of a Corporate Governance reform in line with global best practice, recruitment of two executive directors and the appointment of two independent nonexecutive directors, and looking at recruiting top individuals in the management level. While noting that the transformation change in Odu’a Investment is mandatory, he enjoined the Management and the staff to imbibe the change, the desired culture and have a common purpose to drive the organization to the greater heights that will result into making Odu’a Investment Company Ltd. the economic powerhouse of the South-West nation and the strategic partner of the first choice.
Commenting, the Odu’a Investment Company Group Managing Director/ CEO, Mr. Adewale Raji, said “the retreat was a worthwhile effort for both the board and the Management to agree on a common focus in moving the company forward and achieving a quantum leap with emphasis on Growth, Profitability and Sustainability”.