Ellah Lakes ‘Merges’ with Telluria, Appoints Mordi as MD

By Modupe Gbadeyanka

The board of Ellah Lakes Plc has agreed to a business combination with an agro company, Telluria Limited, which is expected to strengthen Ellah Lakes’ balance sheet, restore customer confidence, provide access to new markets while enhancing operations that will ultimately drive profitability and deliver value to shareholders.

This decision was taken at the board meeting of the firm held on Wednesday, June 12, 2019 and a Director in Telluria, Mr Chuka Mordi, was appointed to be the new managing director of Ellah Lakes Plc effective June 12, 2019.

Mr Mordi takes over from Mr Frank Ellah, founder of Ellah Lakes, who is moving on to new pursuits.

Prior to this appointment by Ellah Lakes Plc, Mr Mordi was the Managing Partner of CBO Investment Management.

Commenting on his appointment, Mr Mordi said, “I am very excited to be taking up the position of

Ellah Lakes Managing Director. The combination of Ellah Lakes and Telluria establishes a platform with a significant existing land portfolio, access to finance and investments in the domestic production of oil palm, and a variety of cash crops. I look forward to an exciting future as we put Ellah Lakes back on a path to growth.”

Mr Mordi has an impressive track record across all segments of finance both in Nigeria and the United Kingdom. He has over two and a half decades of experience in private equity investing, investment banking, and investment research.

Mr Mordi has been responsible for oversight of the CBO’s management and investment activities and currently sits on the boards of CBO portfolio companies.

In addition, Mr Mordi led the firm’s efforts in publishing and distributing proprietary Africa macro and sector research, producing investment conferences, and developing active CSR programs.

Mr Mordi began his career as an Equities Analyst at SBC Warburg, before moving to Hardman & Co. Ltd, where he focused on UK AIM stocks.

At InterSec Research Corp. he led the Global Investment Management Research Team for Europe (UK) & the Far East (Japan & Singapore). At Societe Generale Asset Management (SGAM) UK, he covered European Emerging Market Equities and worked on Asset Allocation and Economic analysis. Prior to launching CBO Investment Management in 2009, Mr Mordi was Head of Infrastructure Financing at First City Monument Bank (FCMB).