Surge in UACN’s H1 2024 earnings linked to strong management
By Seun Johnson
The United Africa Company of Nigeria (UACN) Plc, has reported 675.6% increase in earnings for the first half of 2024.
UACN is a major player in Nigeria’s food and beverage, real estate, paint, and logistics sectors.
According to its latest financial statement, the group’s after-tax profit soared to N9.5 billion, from N1.2 billion recorded in the same period of 2023.
This was said to have been primarily driven by a foreign exchange gain of N9.4 billion in its finance income.
This financial performance highlights the company’s resilience and capacity to navigate Nigeria’s dynamic business landscape.
Its management team, comprising experienced professionals with deep sector knowledge and robust leadership skills were said to have been instrumental in steering the company to new heights.
Here are the management team behind UACN’s Success:
Folasope Aiyesimoju, Group Managing Director:
Aiyesimoju brings extensive experience in corporate finance, principal investing, and private equity to his role. He serves on the boards of multiple UACN subsidiaries, including Chemical and Allied Products (CAP) Plc, Logistics Limited, Grand Cereals Limited, UAC Foods Limited, and UPDC.
He holds a B.Sc in Estate Management from the University of Lagos and is a CFA charterholder.
Funke Ijaiya-Oladipo, Group Finance Director:
Appointed in 2021, Ijaiya-Oladipo has over 17 years of experience in operational finance, corporate finance, and capital markets. She previously served as UAC’s Group Chief Financial Officer and Head of Investor Relations.
Ijaiya-Oladipo holds a B.Sc in Economics and an M.Sc in Project & Enterprise Management from University College London (UCL), and she is a CFA charterholder.
Debola Badejo, Group Investment Director:
Badejo is responsible for driving value creation and growth across UAC’s portfolio companies. With over 16 years of experience in business management and investment banking, he has worked at leading investment banks like Standard Bank and Morgan Stanley.
He holds a B.Sc in Systems Engineering from the University of Virginia and MBA degrees from both Columbia Business School and London Business School.
Durosinmi-Etti, Chief Operating Officer:
With a diverse background in law and financial services, Durosinmi-Etti focuses on boosting efficiency through strategic planning, HR management, and technology governance.
Before she made her move to UAC, she was an executive director at Goldman Sachs in London. She holds a Law Degree from King’s College London and an MBA from London Business School.
Oluyemi Oloyede, MD/Chief Operating Officer of UAC Foods:
Oloyede is a seasoned business leader with over 16 years of experience at companies like Procter & Gamble, Kellogg, and Kerry Group.
He holds a First Class Honours degree in Mathematics from Obafemi Awolowo University and an MBA. Oloyede has a track record of driving commercial success and leading multi-national teams.
Temitope Omodele, Chief Financial Officer of UAC Foods:
Omodele is an experienced accountant with over 16 years in audit, technical accounting, and finance operations. She is a fellow of ICAN and ACCA, with a B.Sc in Accounting from the University of Lagos and an MBA from Lagos Business School. Omodele joined UAC in 2020 and currently serves as a non-executive director on the board of Livestock Feeds Plc.
The remarkable growth in UACN’s earnings reflects the strategic direction and effective management by its seasoned leadership team.
Their combined expertise and dedication to driving financial performance and operational excellence position the company for continued success in Nigeria’s competitive market.
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