Odu’a Investments Ltd has rolled out a new five-year growth plan to reposition the conglomerate for improved performance and profitability.
The ambitious new plan was developed at a just concluded two-day brainstorming retreat facilitated by KPMG for the company’s directors, Chairmen of the Board of Subsidiaries and Chief executive officers of its subsidiary companies and the management team of the conglomerate at the Lagos Airport Hotel, Ikeja, Lagos.
Also in attendance at the retreat were entrepreneurs, subject matter experts, business leaders, technocrats, and academics.
A statement by the Head, Corporate Affairs Unit of the company, Mr Victor Ayetoro, said the new plan targets growth and expansion, investment excellence, profitability and efficiency, governance and reporting as well as people, culture and transformation.
To achieve the plan, Odu’a will focus on
investment in priority sectors of real estate, energy (including oil and gas), hospitality, agriculture, logistics and storage, healthcare, ICT/ digital and financial services. Innovation mindset will underpin the activities of the entire group, the statement explained.
“It agreed to ‘sweat’ the group’s portfolio of assets to achieve an acceptable return on assets, reduce operating recurring cost significantly, ensure effective governance framework, oversight on the group and subsidiaries and also institute culture transformation initiatives to drive operational excellence.” The statement added.
The conglomerate’s vision, mission statements and core values were also revised to fit the current restructuring and repositioning drive of the company. It’s new vision is: “To be a world-class conglomerate” and the new mission statement “To deliver sustainable returns
for all stakeholders; enhancing the legacy for future generations.” It adopted new core values of respect, integrity, resilience, innovation and collaboration.
Addressing participants at the retreat, the Chairman, Board of Directors, Dr Segun Aina, emphasized the need to take the company and its subsidiaries to a new level of sustainable success. He noted the retreat has put in place required strategies needed to refocus, recalibrate and accelerate delivery of the company’s desired result, which according to him, include “delivering shareholder’s value and social impact that will be based on asset optimization and efficient management of resources”.
Commenting, the company’s Group Managing Director/CEO, Mr Adewale Raji, described the retreat as a worthwhile effort for both the board and the management given the agreement on a common focus in moving the company forward.
