Chairman of Odu’a Investment Company Limited, Segun Aina has said that the conglomerate plans to diversify its portfolio of assets beyond real estate and existing subsidiaries and associates.
Speaking at the 45th anniversary commemorative lecture of the company in Lagos on Friday with theme ‘A Bold Rebirth’ Aina said: “Our new investment initiatives will now target eight selected sectors of the economy namely real estate, hospitality, healthcare, agriculture, transportation and logistics as well as ICT and Digital and financial services.
“We have the strategic intent to dilute ownership in some of the investments where we currently have 100% ownership, while limiting our shareholding in new ventures to minority holdings as may be necessary, so we are seeking partners that will provide capital and technical expertise to run these businesses.”
He said plans were underway to transform Wemabod Limited and the three hotels to world class destinations driven by partnerships with global brands.
Likewise, the SWAGCo, the agriculture investment vehicle, primed to create a pool of hundreds of thousands of farmers and agripreneurs across the states while South West Innovation and Technology (SWIT) will drive strategic partnerships in Tech hubs, Fintechs and ICT businesses.
“We expect our efforts in all these areas to support large scale job creation, rural development, capacity development and overall economic growth,” he added.
The next four years, he pointed out, will be foundation years for creating an impact-driven organization.
“Our targets for Odu’a Investment over next 4 years are audacious in terms of social impact, growth in revenue and returns on assets with various asset optimization programs planned, despite the obvious challenges in the macro economy, we are optimistic that with the support of everyone and other stakeholders, we will deliver,” he said.
In his welcome address, Adewale Raji, Group managing director/CEO of Odu’a, said the company repositioned to fulfill its role as both an investment vehicle and growth engine for the South West.
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According to him, “We are imbued to be a world class conglomerate and driven by a collective mission and strategy to enhance legacy for future generations.”
The 45th anniversary, Raji pointed out, was crafted carefully to not just commemorate how the company has gone but how far it will go.
He used the occasion to present some new businesses of the company which included SWAGCO, SWIT and BITA (the marginal oil field, it plans to operate with some other partners).
The GMD also mentioned the Lagos Airport Hotel which he said would be 80 next year.
“This is one of oldest surviving hotels in Nigeria; this for us like many other assets in our custody, is not just an investment but represents a part of our collective history; we assure that through strategic partnership, we shall restore it into a world class leisure, banqueting, conferencing and entertainment destination,” he said.
