Brands/Products
How a Community Benefits from Industrialisation: The Rite Foods Example
To acknowledge entrepreneurship and individuals advancing the frontiers across the world, August 21 is celebrated as ‘World Entrepreneurs Day’ every year. This year’s celebration, which took place on Monday, has once again re-echoed the essence of the pivotal role entrepreneurship and industrialisation play as epicentres of human and societal development of any nation, thereby validating the vision of Rite Foods in its quest to democratise a holistic economic revolution from agriculture to industrialisation and urbanisation.
According to research, entrepreneurship across developed economies and developing one’s account for 80% of any society’s overall employment and urbanisation development, thereby making them critical components of any societal development, sustainability, and the engine room of any economy.
A good example of this human and economic development assertions has therefore been demonstrated by Rite Foods. The organisation strongly believes that without entrepreneurship, it is almost certain that the great economic potentials of any nation might not be fully unlocked; hence, it has continued to push the frontiers of entrepreneurship and industrialisation, which represents a ”way out” for low-income rural areas and can alleviate socio-political challenges of unemployment and under-development while boosting general economic and social betterment of Ososa. In fact, as a social human capital strategy, since Rite Food came onto the scene, its major recruitment policy has been such that the local indigenes of the communities have enjoyed a considerable ratio, especially within areas requiring less skilled expertise, which has tremendously boosted job creation.
Before the revolutionary industrialisation of Rite Foods into the serene Ososa community, it was simply renowned as the town of the late Herbert Adedeji Ogunde, the progenitor of the first contemporary professional theatrical company in Nigeria, largely due to his theatrical exploits during that era. Today, the town has transitioned from a drama stead to a world-class industrialisation hub due to the activities of Rite Foods within that community coupled with its grand leap in the FMCG industry through its world-class industrialisation activities, which have continued to unlock the economic potentials of Ososa while also promoting socio-economic development in the larger Nigerian food and allied value chain. The Rite Foods multi-billion dollar factory, which commenced operations in Ososa in 2013, has expanded its exploits across multiple food and beverage product brands over time.
As a pioneering innovation-driven leader in its industry in Nigeria and the African region, the factory is automated with little or no human interference, generating its source of power supply via the largest solar plant in West Africa that produces 32 megawatts of electric, Gas and Diesel-induced plant connected to the national grid that facilitates seamless, 24/7 uninterrupted power supply to the highly sensitive, sophisticated technological factory which it also deploys to boost the power supply needs of its host community, Ososa, and its proximate rural communities.
According to Seleem Adegunwa, Managing Director, Rite Foods, ”For us, the vision to industrialise our rural communities has often been one of the focus of our management’s leadership strategy, hence our systematic approach towards the realisation of our goal. Rite Foods implements inclusive community relations and corporate philanthropy that benefits the Ososa community, including infrastructural development and education through which it has helped to bring a meaningful difference to the lives of the host communities,” he avowed.
Consequently, the efforts of Seleem Adegunwa, Managing Director of Rite Foods, have never gone unnoticed in this direction. In March 2023, he was nominated for the highly coveted Ernst & Young [EY] Entrepreneurship Award [Master Category] as a continental honoree in recognition of his sterling entrepreneurship exploits.
By Modupe Gbadeyanka
The self-service channels of Stanbic IBTC Pension Managers designed to streamline processes and provide easy access to pension management services have been re-introduced.
The subsidiary of Stanbic IBTC Holdings Plc said it brought back the options as part of its commitment to enhancing customer experience by providing innovative solutions, putting them in control of their financial future.
The chief executive of Stanbic IBTC Pension Managers, Mr Olumide Oyetan, reiterated the firm’s dedication to improving pension management by enhancing ease and efficiency.
“By getting acquainted with and utilising these options to their fullest, customers can enjoy the benefits of flexibility and independence,” he stated.
Mr Oyetan further underscored the organisation’s commitment to leveraging technology to improve pension management for customers, ensuring the availability of the self-service channels 24/7 for checking account balances, updating personal details, or making enquiries seamlessly.
“These self-service channels empower customers to take control of their experience as we aim to meet and exceed their expectations through these user-friendly platforms,” he stated.
Business Post reports that one of such channels is MyPension Portal, accessible via the company’s website www.stanbicibtcpension.com.
It offers customers a user-friendly platform to manage their pension details effortlessly. This portal allows for easy updates of personal information, requests for reference letters to submit at schools and embassies, and the ability to switch between investment funds.
It also provides the convenience of accessing and requesting statements at any time, relieving customers of unnecessary stress and paperwork.
In addition, the Stanbic IBTC Pension Managers module on the Mobile App, available for download on Google Play Store and App Store, enables users to view their pension account balance, track contributions and investment performance, monitor recent transactions and contributions, and receive alerts for important pension account updates.
For those who prefer SMS access, customers can simply text “Help” to the shortcode 30388 from their registered mobile phone to receive instructions on performing various tasks via SMS.
The company has also streamlined the process for using contact numbers, allowing customers to connect to the Stanbic IBTC Pension Managers’ Interactive Voice Response (IVR) system for comprehensive guidance on a wide range of enquiries and transactions.
By Modupe Gbadeyanka
A report released by Salesforce has revealed that about $1.2 trillion was used for shopping across the globe during the just-concluded Christmas and New Year holidays.
It was stated that the United States accounted for $282 billion, with data based on an analysis of 1.5 billion shoppers and 1.6 trillion page views across the Salesforce Platform.
The report indicates that the better-than-expected holiday shopping season was powered by surges in mobile and social commerce alongside increased consumer spending after months of saving in the first half of 2024.
However, shoppers have already sent back $122 billion in merchandise, with consumers and retailers leaning into the use of Artificial Intelligence (AI) and agents to enhance holiday shopping experiences through product recommendations and personalised order support, influencing $229 billion – or 19 per cent – of all online orders.
“Retailers had a robust holiday season, but a 28% rise in the rate of returns compared to last year is a cause for some concern,” said Caila Schwartz, Director of Consumer Insights at Salesforce. “Retailers who have embraced AI and agents are already seeing the benefits, but these tools will be even more critical in the new year as retailers aim to minimise revenue losses on returns and reengage with shoppers.”
It was gathered that about $229 billion of global online sales were influenced by AI and agents in the form of product recommendations, targeted offers, and conversational customer service support, with 19 per cent of holiday purchases influenced by consumers engaging with AI and agents, a 6 per cent increase from 2023.
In addition, shoppers used AI- and agent-powered chat for customer service 42 per cent more than they did during the 2023 holiday season, and over $122 billion of global purchases have already been returned, up 28 per cent from last year.
It was noted that this increase is partially due to trending consumer behaviours like “try-on hauls” and bracketing (buying an extra size above and below your standard size).
Salesforce projects that retailers will likely see this number grow to $133 billion – presenting an important opportunity for brands to use agents to make the returns process easier and more tailored to specific customer needs.
By Modupe Gbadeyanka
A new Public Relations (PR) agency, FreshSight Communications, has promised to offer tailored services to its clients, as it joins the highly competitive industry.
According to the co-founder of the company, Mr Justice Mmadubugwu, FreshSight Communications will provide top-notch PR services tailored to meet the unique needs of businesses, organisations, and individuals seeking to amplify their brand presence and reputation.
He also expressed confidence in working with media partners to share compelling stories, promote innovative ideas, and spark important discussions that affect society.
“We are excited to introduce FreshSight Communications to the Nigerian market.
“Our goal is to become the leading PR agency for businesses seeking to establish strong relationships with their target audiences and stakeholders,” Mr Mmadubugwu stated.
FreshSight Communications said its services include media relations and crisis communications; brand management and reputation enhancement; digital PR and social media management; event management and planning; content creation and copywriting; and artist/influencers management.
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