The newly inaugurated Board of Directors of Odu’a Investments Limited has produced an 11-point agenda to drive growth, profitability and sustainability of the conglomerate, revealing plans to work with local and international organizations such as the International Finance Corporation (IFC), African Development Bank (AfDB), Afrexim Bank and other leading local and International institutions for funding.
The new agenda shows that the Dr Segun Aina-led board aims to reposition and restructure the company and its subsidiaries to enhance its performance, profitability and sustainable growth necessary to meet and surpass expectations of its shareholders and other stakeholders.
A statement by the company’s Head of Corporate Affairs, Mr Victor Ayetoro, quoted Aina as saying that implementation of the plan would transform Odu’a to a world-class conglomerate with strong governance framework that could make it compete with similar organizations in key performance areas.
The agenda features quick wins for the board’s first 85 days in office which would provide the
requisite foundation needed for the transformation of the company and a five-year strategic plan.
A retreat to be facilitated by KPMG has been scheduled for next month where a five-year strategic plan will be fully developed with timelines. The retreat will also determine strategies required to refocus, recalibrate and accelerate delivery of desired results.
Aina said the company will identify new key investment opportunities in agriculture, technology and commercially viable infrastructures, and create a Project Management Office and corporate transformation agenda.
It is understood that working with owner states of Osun, Oyo, Ondo, Ogun, Lagos and Ekiti, Odu’a aims at unlocking potentials in the agriculture value chain in Southwest Nigeria, towards making the Southwest Agricultural Corporation Limited (SWAGCO) operational by the end of June.
To ensure best practice and corporate governance the board expressed its commitment to accelerating the completion of the Corporate Governance Advisory Assignment being carried out by KPMG and provide necessary support to ensure the strengthening of executive capacity with recruitment of two executive directors.
The board insisted that it would no longer be business as usual, charging heads of subsidiaries to uphold high standards of corporate governance.