Odu’a Investment Company Limited is set to chart a new course to increase the company’s performance and profitability level.
The company owned by Ogun, Oyo, Osun, Ondo and Ekiti states, has mapped out a five-year plan to grow the group’s revenue by 25 percent between 2015 and 2019.
At a three-day brain-storming strategic retreat held for the company’s board of directors, the management team/CEOs of its subsidiary companies at the International Institute of Tropical Agriculture (IITA) Moniya, Ibadan, the conglomerate also plans a baseline of 15 percent profit before tax (PBT).
To achieve this, the group says it is poised to lead with purpose and accountability with full engagement and inclusiveness of stakeholders.
It also resolves on an actionable investment theme that clearly supports the new vision and mission aimed at re-vitalising and re-positioning the company for future challenges.
The group managing director of Odu’a Group says the new vision is to be the leading Nigerian conglomerate in chosen sectors, delivering above par performance in growth and profitability.
The mission, he further points out, is to deliver maximum returns to its stakeholders through qualitative and strategic management, towardds enhancing the heritage of founding fathers.
He states at the retreat that this could achieved through active engagement of workers by emphasising professionalism and best practices as well as retention and attraction of best in class talent.
Speakers at the retreat facilitated by KPMG Advisory Services included Joseph Makoju, former CEO of Lafarge-Wapco and former managing director of Old National Electric Power Authority (NEPA), and Ademola Ariyo,a professor, former commissioner for finance, old Oyo State and chairman board of directors, University of Ibadan School of Business (UISB).
Chairman of Odu’a Group, Isaac Akintade, remarks that the event marks a ‘new dawn’ in the history of Odu’a and “we are positioning to create an enduring value that will be the pride of the South West”.
He however describes the retreat as a worth-while effort for both the board and management to agree on a common focus in moving the company forward and achieving a quantum leap with emphasis on growth, profitability and sustainability.
Source : BusinessDay