Business

Odu’a Investement Company creates Strategic Business Unit, Joint Ventures Alliances, says Chairman

Segun Showunmi in Ibadan

Pelican Brief

The Group Chairman, Odu’a Investment Company Limited, Dr. Segun Aina has disclosed that the conglomerate board had created new strategic business units, and entered into joint ventures and alliances.

 Penpushing reports that  Aina made this known on Thursday in Ibadan, the Oyo State capital while speaking during a business interactive webinar session with business leaders, focusing on emerging business opportunities within the Odu’a Group and the driver for partnership and business alliances.

The Odu’a Investment Group Chairman stressed that Odu’a board has completed a corporate restructuring of the company with initiation of strategies to grow its revenue and assets, adding that the company planned new key investment opportunities which span the technology, financial services, healthcare, oil and gas sectors.

“We won the Bita Oil and Gas marginal field, and are finalising partnerships with investors for Capex. We have set up the Southwest Agricultural Company to focus on agriculture and the South-West Innovation and Tech Company Incorporated for fintech”, he said.

“We also have made hospitality partnerships in the Lagos Airport Hotel and Western Hotels, Real Estate Asset Leveraging (Wemabod and OICL), and created a facility management company as Wemabod Subsidiary. We plan to dilute equity in existing subsidiaries of the company.”

Penpushing further reports that a Senior Partner at Klyneld Peat Marwick Geordeler (KPMG),Chief  Joseph Tegbe in a presentation titled ‘Setting the tone for OICL’, urged participants that the consulting firm carried out a strategic health check which revealed some issues that warranted redefining the company’s aspirations.

The Klyneld Peat Marwick Geordeler(KPMG)  Senior partner stressed that  the Governors of the South-Western states as shareholders in Odu’a Investment decided to strengthen the company’s board and governance structure, saying“the Sweat, Revive and Create was then crafted to galvanise the group for transformation and taking advantage of the opportunities within the Nigerian economic landscape.”

Penpushing also reports that the Governor of Lagos State, Mr Babajide Sanwo-Olu, represented by his Special Adviser on Sustainable Development Goals and Investments, Mrs Solape Hammond, said that the governor expressed his satisfaction with the structural repositioning of the company.

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