Main agro-industrial group, SIAT Group (Societe d’Investissement pour l’Agriculture Tropicale NV), has introduced the consolidation of its edible oil companies in Nigeria and Ghana, beneath Presco Plc., a fully-integrated agro-industrial firm.
The transfer was a strategic restructuring indicative of the corporate’s market growth. With this determination, Ghanian firm, Ghana Oil Palm Improvement Ltd (GOPDC), and SIAT Group’s Nigerian subsidiaries, Presco Plc and Siat Nigeria Restricted (SNL) will now function as impartial entities beneath Presco Plc – whereas remaining subsidiaries of SIAT Group.
With a give attention to sustainability, market benefit, and management, SIAT Group’s new enterprise construction goals to drive the long-term development of its belongings and buyer base throughout West Africa. Nonetheless working as subsidiaries of SIAT Group, Presco, SNL, and GOPDC will probably be individually supported by the corporate as traditional. As affiliate firms, Presco, SNL, and GODPC’s stakeholders will proceed to benefit from SIAT Group’s community of trade and technical experience that deepens their market worth and drives their evergreen, particular person success.
The realignment of the businesses is according to SIAT Group’s strategic growth plans to boost the corporate’s monetary power, entice investor curiosity, and maximize impression for its stakeholders.
Topic to assembly regulatory necessities in Ghana and Nigeria, the consolidated Presco Plc. will bridge provide gaps throughout the African market to gasoline trade development and leverage market alternatives as a collective. The restructuring will notably elevate GODPC with a powerful platform within the Ghanaian market to energy the corporate’s financial contributions, market share, and capability to fill business gaps within the native market.
“Our purpose has been to undertake a holistic outlook on the trade to create and broaden alternatives throughout the market. This strategic consolidation of our associates in Nigeria and Ghana – GODPC, SNL, and Presco – factors to our dedication to broaden the agro-allied trade inside Africa,” mentioned Felix Nwabuko, Group Chief Government Officer of SIAT NV Group. “We’ve got secured a powerful market place and are working in keeping with our subsidiaries to deepen worth for our stakeholders throughout the board. A key part to our enterprise development is to stay linked, however not coalesced, and I’m grateful to the leaders at GODPC, SNL, and Presco for facilitating this transition with this ethos. Following vital regulatory necessities, we’re assured Presco Plc. will proceed driving sustainable development and profitable partnerships to advance Africa’s edible oil sector.”
Highlighting SIAT Group’s development targets inside Africa’s palm oil and pure rubber sectors, this consolidation strengthens the corporate’s management in environmentally, financially, and socially progressive enterprise selections that profit stakeholders and contribute to a greater world.
