Wemabod eyes new markets, diversify offerings

The board and management of Wemabod Limited has inaugurated Nureni Adisa as its chairman with a promise to leverage the company’s capabilities in property development to contribute to the nation’s economic recovery and enhance shareholder value.

Adisa, an engineer, who took over from Emmanuel Efuntayo, said despite facing inflationary pressures, currency fluctuations, and infrastructural deficits, “we see opportunities for growth driven by urbanization, a burgeoning middle class, and a renewed focus on infrastructure development”.

Highlighting five strategic pillars he would pursue said the company would conduct a thorough review of current portfolio to identify underperforming assets and opportunities for repositioning saying “by optimizing our property mix, we can enhance returns and ensure sustainable growth.

He also stated that the company would expand its footprint by exploring new markets and diversifying offerings.

“This includes residential, commercial, and mixed-use developments that align with market demand and emerging trends as well as access to financing is crucial for our growth.”

According to him, we will pursue innovative financing models, including partnerships with institutional investors and exploring alternative funding sources, to ensure we have the capital needed for our ambitious projects.

Likewise, he pointed out, that it would implement best practices, invest in technology, and streamline processes to enhance productivity and reduce costs, ensuring that we deliver quality projects on time and within budget.

While emphasising people as greatest asset, the new chairman stated that, “We will foster a culture of collaboration, continuous learning, and innovation, emphasis will be laid on education and training both in-house and externally.

Efuntayo, while handing over the mantle of leadership to Adisa, thanked the board and management for their cooperation during his time, saying “Together, we have accomplished numerous milestones that have not only strengthened our position in the real estate sector but have also set a solid foundation for the future.

Efuntayo said during his tenure,the company invested significantly in training and development of directors, ensuring that they were well- equipped to navigate the complexities of corporate governance and risk management.

“Our participation in training programmes organised by the Institute of Directors (IOD) in London and Canada has been instrumental in enhancing our understanding of our responsibilities.