7 May 2014

Nigeria: UAC, Interswitch, Others Potential Global Leaders - WEF

The World Economic Forum (WEF) has announced six Nigerian companies as among the trailblazers, shapers and innovators committed to improving the state of the world. The companies -- Nagode Group, UAC of Nigeria Plc, Computer Warehouse Group, Interswitch Limited, Notore Chemical Industries Ltd, and Seplat Petroleum Development Company Plc - are among the 16 companies in Africa recognised by WEF as Global Growth Companies (GCC) in Africa.

GGCs are fast-growing companies with the clear potential to become global economic leaders. The 16 nominated African GGCs represent a broad cross-section of industrial sectors, but have in common a track record of exceeding industry standards in revenue growth, promotion of innovative business practices and demonstration of leadership in corporate citizenship.

The other selected companies are: Nation Media Group (Kenya), Bidco Oil Refineries Ltd (Kenya), GML (Mauritius), Growthpoint Properties (South Africa), Capitec Bank Holdings Ltd (South Africa), Webber Wentzel (South Africa), KZN Oils (South Africa), Net1 UEPS Technologies, Inc (South Africa), Tekkie Town (South Africa), and Simba Group (Uganda).

"The World Economic Forum is proud to recognize these 16 champions that are at the forefront of driving responsible economic growth, job creation and entrepreneurism in Africa. We look forward to the active and dynamic role they will play at our meeting in Abuja, working with the region's leaders to foster inclusive, sustainable growth in the region," said David Aikman, managing director and head of New Champions at the World Economic Forum.

Notore Chemical Industries Limited (Notore) is one of the leading fertiliser and agro-allied companies in Africa. It operates the only urea fertilizer plant in sub-Saharan Africa, thereby spearheading Africa's drive to feed itself. Located at Onne sea port in Rivers State, the company impacted positively on agricultural yields while ensuring improved standard of living for the estimated 14 million farming households in Nigeria.

For over 100 years, United Africa Company of Nigeria plc has been a major contributor to the Nigerian economy. It runs one of the largest diversified businesses in the private sector which include manufacturing, services, logistics and warehousing, agricultural and real estate. The chairman of the coard as of 2010 is Senator Udoma U.Udoma with Mr Larry Ettah serving as group managing director and CEO.

Computer Warehouse has evolved into an IT powerhouse with a focus on enabling businesses through strategic partnerships with world-class organizations. On November 15, 2013, Computer Warehouse Group Plc listed its shares on the Nigerian Stock Exchange. The listing boosted the market capitalization of the NSE by about N14 billion, making CWG PLC the highest capitalized security in the ICT sector. It has branches in east, west and central Africa.

Interswitch Limited is an integrated payment and transaction processing company that provides technology integration, advisory services, transaction processing and payment infrastructure to government, banks and corporate organizations.

It provides online, real-time transaction switching that enables businesses and individuals have access to their funds across the 20 banks in Nigeria and across a variety of payment channels such as automated teller machines (ATMS), point of sale (PoS) terminals, mobile phones, kiosks, web and bank branches.

SEPLAT is a leading indigenous exploration and production company currently operating in onshore Niger Delta basin. It has a 45 per cent participating interest in three oil blocks (OMLs 4, 38 and 41). The oil production from these operated assets has grown from 14,000 barrels per day at inception in 2010 to the current gross production from operated assets, circa 60 Mbopd.

Nagode Group (Nigeria) was incorporated in 1988 and its operations include manufacturing, distribution, logistics and services.

Based in Lagos, it has regional offices covering key centres in Nigeria such as Abuja, Kano, Aba and Onitsha. We have offices in India, China, Dubai (UAE) and South Korea.

The history of Nagode as a family dates back to 1960, which started in East Africa with its textiles business and then moved to Nigeria in the 1970s and has been growing since.

The name Nagode, which means THANK YOU, it says, signifies its commitment to Nigeria and its contribution to the growth of Nigerian Economy.

Currently, beyond Nigeria, Nagode has its operations spread over to Cameroon, India, China and South Korea. However its international outlook notwithstanding, the Nagode Group of Companies has remained true to its African origin. Now, with its impressive turnover of USD 200 million per annum, the conglomerate is definitely one of the fastest-growing business concerns in Nigeria.

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