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SIFAX Group expands infrastructure, portfolio as Coy pursues mega corporation status

L-R: John Jenkins, Managing Director, Ports & Cargo
Handling Services Limited; Captain Ibraheem Olugbade, Executive Director, SIFAX
Off Dock and Adekunle Oyinloye, Group Managing Director, SIFAX Group at the
SIFAX Group mid-year press conference which was held at Ports & Cargo
Handling Services Limited, Tin Can Island, Apapa.

SIFAX Group, a business conglomerate
with diverse investments in various sectors of the economy, has said its
massive investment in infrastructure and increase in its business portfolio are
due to its huge ambition of transiting to a mega corporation.

In the last few months, SIFAX Group
has invested heavily in equipment acquisition across its various subsidiaries,
expanded its facilities and also made a foray into other countries.

Speaking at its mid-year press
conference in Lagos, Mr. Adekunle Oyinloye, Group Managing Director, SIFAX
Group, noted that the company has set a very big ambition for itself with a
5-year strategic growth plan that will generate a 300 per cent increase in

He said: “As a proactive company,
SIFAX Group is already preparing for the future. We have an ambition of
becoming a real mega business with substantial presence globally. Our first
major footprints would be in Africa. We are already in some West Coast nations
while efforts are on to do more. We have a 5-year strategic plan that
encapsulates our vision.

“A key part of the plan is massive
investment in equipment and facilities. Across our companies, more harbour
cranes, reach stackers, haulage trucks, forklifts, baggage tow tractors among
others have been acquired to match our ambition as a market leader in all the
sectors we operate. 

“Facilities are also been expanded.
For example, we have acquired two new off dock locations in Lagos so as to
improve cargo evacuation from the port and provide more options for our clients
to clear their consignments without stress.”

Oyinloye further said the new vision
of the company necessitated a new management team, which is currently driving
the business, adding that the management is delivering on the mandate of Dr.
Taiwo Afolabi, Group Executive Vice Chairman, SIFAX Group, which is to turn the
business to a big global brand.

On his own part, John Jenkins,
Managing Director, Ports & Cargo Handling Services Limited, noted that the
company’s container throughput for the first half of 2019 was 130,000TEUs while
its general cargo volume was in excess of 100,000 tons.

“We are expecting our throughout for
2019 to be in the region of 280,000 to 290,000 TEUs on the back of an improved
port access road. Already we have crossed the 130,000 TEUs mark for the first
half of the year. This figure is 275 TEUs less than what we achieved in 2018,”
he noted.

A major challenge confronted by the
business, especially its Nigerian operation, in the first half of the year, was
the traffic gridlock caused by the poor access roads around the Lagos ports.

Oyinloye commended the government for
responding to the situation with the award of the road construction but urged
that a more sustainable solution of linking the ports with a functional rail
system would complement the road infrastructure.

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