The new Chairman of Odua Investment Company, Otunba Bimbo Ashiru has charged the Group’s parent companies on the need to innovate and leverage technology to remain competitive.
Ashiru gave the charge on Monday, during his visits to three of the Group’s subsidiaries: SWAGCO (South West Agric Company), WEMABOD Estate and GlanvillEnthoven, in Lagos.
The two-term Commissioner for Commerce and Industry in Ogun State, also charged the companies to leverage the immense goodwill and clouts of the Group’s board of directors, to market their companies’ products and services to the public and enhance their bottom-lines.
He explained that the Board’s visits to the subsidiaries were informed by the need to do an on- the- spot assessment of the state of things in those companies, ascertain their areas of needs, to be able to provide the necessary interventions.
Commending the board and management of SWAGCO, the Group’s agricultural investment arm, for living up to the purpose of setting it up, the OIC’s boss charged them on the need to do more, to enable them harness the vast opportunities that abound in the agricultural sector in the South West.
He advised the company’s board on the need to explore the option of partnering with qualified foreign investors, so as to put the company in good stead to achieve some of its plans.
Also speaking during the visit, the Group Managing Director of OIC,MrAdewaleRaji, also commended the company on the calibre of members of its board.
While assuring the company’s board of the Group’s support, he however charged them on the need to live up to the enormous expectations of the company’s stakeholders.
Responding, the Managing Director of SWAGCO, MrBabajideArowosafe, appreciated the Group’s board for its support to the company, since its inception.
While assuring the Group of the unflinching resolve of the company’s board not to disappoint its stakeholders, he however stated that the company would need more support from the Group in future to enable it implement its plans.
“We are an agric investment company, so we need funds to prosecute some of our plans. Right now, what we have is very low. We need about N50billion to successfully prosecute some of our projects, so we will again be knocking at your door very soon,” he stated.
Speaking at the Wemabod premises, the Chairman commended the company’s board for the facelift and complete overhaul it had carried out in the company since coming on board.
He however stressed the need for the company to professionally communicate the silent revolution currently going on in the company.
“I think you should let the public know the various reforms and revolution being carried out in the space. If you don’t professionally blow your trumpet, nobody would do that for you. You need to let people know that this is a new Wemabod,” he stated.
He also advised the board on the need to leverage the immense clouts of members of the board of OIC Group to enhance its operations.
“You have these gentlemen, who accomplished professionals are drawn from all the South Western states at your beck and call. These are individuals, who you can always run to, to enhance your operations,” he added.
Responding the Managing Director of the company, MrOluyemiEjidiran assured that the company would not disappoint the stakeholders. He added that the board would continue to pursue its reform agenda, aimed at positioning the company as one of the nation’s leading real estate firms.
Welcoming the board to his company’s premises, the Managing Director of GlanvillEnthoven, the Group’s Insurance Broking and Pension Consultancy arm, MrSupoFalana, stated that the company was gradually getting back to its feet after the trauma of the last few years.
“The last few years had been traumatic, but we are gradually overcoming that. All we need is the Group’s support to enable us fully come back on time,” he stated.
In his response, OtunbaAshiru charged the company on the need to leverage the strong equity of the company’s name to enhance its businesses and bottom-line.
“Glanvill is a strong brand, and I believe its name should open business doors. Interestingly, the different exploits the company had been making in the past few years seem not known to the public, hence the need for you to completely rebrand and let people know that the company is still in business,” he added.
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