‘Our aim is to be a significant player in African paint market’ – David Wright
It’s been about four months since your appointment as managing director of CAP plc took effect; what should stakeholders expect from the new management?
Obviously, you have put together a strong board. How do you intend to harness the individual strengths of the members for corporate good?
I understand that you have invested so much to form this new board. How soon should stakeholders expect yields from this investment in top level human capital?
Following what you’ve invested in structures and IT, what should your customers look forward to?
Are you also looking at exploring opportunities at least in the ECOWAS region?
There are a few things that really draw me to Africa. One is, for some reasons, it has always been on my list of continents that I would love to work in. The opportunity here is amazing. Africa is the last frontier for coatings industry. The coatings industry on a global basis is dominated by a handful of companies. However, they’re not really in Africa. There may be in South Africa, but coatings industry doesn’t really exist here. So this is still a market where local companies can create a position that in the future can have a dominant effect when these global companies come.
For me, my experience is generally about growing businesses across many industries, but the match of an untapped market and the potential to grow motivate me quite strongly. But also, CAP is in a great position. It’s got a solid foundation. It’s got 60 years of history. It’s got a great backing with UAC. So everything is in the right place to really launch this company and move it to the next level, which is pretty exciting stuff.
The Nigeria market is peculiar. How does it compare with other markets where you had worked?
Given your diverse experience, what good strategy could work for CAP plc at this time?
What are the greatest challenges facing the chemical and allied industries in Nigeria?
What is your strategy for surmounting these challenges for CAP plc or converting them to opportunities?
CAP plc reported an improved financial performance in 2018. What plans are on ground to sustain the trend?
The company paid dividend to its shareholders in 2018 with its entire net profit. What informed this decision and what should the company’s owners be expecting this year?