By Valentine Amanze
The world has watched with disbelieve the collapse of the private and public sectors of one of Africa’s most promising economies – Nigeria.
So many factors contributed to the misfortune including the inclement weather which they operated and government’s business unfriendly policies.
But in the midst of the harsh operating environment, few companies like U.O.O Nigeria Plc have navigated it successfully.
Today, Managing Director and Chief Executive Officer, U.O.O Nigeria Plc, Nze Edozie Okafor, has attributed his company’s survival to hardwork and determination of his workforce.
The managing director and chief executive officer also commended the efforts of his employees in bringing the company out of crisis.
He lamented that the crisis, which enveloped the firm some years ago, set it back 50 years behind.
Okafor narrated that between 2002 and 2003 financial year, the overall turnover of the group was in excess of over N1 billion, adding that during the years of crisis, the company lost over N500 million, just as meager resources realized were directed towards servicing debts and litigations.
Okafor disclosed this at the annual managers’ conference of the company, which featured the rebranding of the outfit with a new logo in Owerri, the Imo State capital.
His words: “Recall that from 2007 to 2016 were characterized with years of trials and crisis. Debt burden from several banks became too difficult to contain and all these mounted a lot of pressure on the management, but with the staff support, commitment and dedication, the company was able to repay the debts and recovered our collaterals from the banks”.
Okafor stated that the essence of the Managers’ Conference was for the managers to interact under a cordial atmosphere devoid of status and position, to look inwards into its various challenges, expectations, vision and objective of the company.”
A cross-section workers at the event
Business expansion
The chief executive officer also disclosed that the Board of Directors has directed the company to focus its operations on the areas of comparative advantage –
Agriculture, Real Estate and Hospitality – which the management has followed
religiously. The company has steadily expanded the poultry, palm plantation and palm oil production.
It has equally changed the face of real estate section with modern shopping plaza, while other houses had been refurbished to meet with
changing times, he said.
Rebranding
On the rebranding of the company’s logo, which was launched during the conference, Okafor explained that it was in line with the firm’s broader vision
from textiles and related products in the 50s and the directional investment in
agriculture, real estates and hospitality and its efforts to move to higher horizon that led to the new thinking, new ideas and new logo.
He pointed out that the new logo has the depth of inception of the company which shows how reliable thecompany has been in service and delivery over the years.
Explaining the new logo which has red and grey colours, Okafor said, “…the red is carved out from the horizon of the earth. The
horizon represents limitless opportunities, the possibility of change, growth and improvement. It indicates the company’s business coverage as global. The unique text of character exudes simplicity, confidence and yet, sophisticated and solid.
This represents the U.O.O Brand….”
Prominent among dignitaries that attended the function were Mrs. Oke Solape M manager (Adm) HR who represented the Bank of Industry (BOI) Investment Company Limited.
The ceremony featured the analysis of the projects of the various divisions, discussions on objective position and setting of new goals and target with projections made for the future.
