For the second year running, FoodCo, Nigeria’s fastest growing supermarket chain brand, has been named Retail Brand of the Year at the BusinessDay Nigerian Business Leadership Awards (NBLA) organised by BusinessDay Media.
The 2021 edition of the Awards, which recognizes remarkable business leaders and organizations in Nigeria for their sustained commitment to excellence in enterprise, held recently at the Oriental Hotels, Lagos and attracted business leaders and captains of industry from across various sectors of the economy.
According to Dr. Ogho Okiti, Managing Editor, BusinessDay Media, winners were determined based on a stringent screening process which assessed the nominees against a set of weighted criteria including innovation, service delivery, product quality, financial results, corporate governance, Nigerian identity, ethics and integrity.
Speaking on the choice of FoodCo as Retail Brand of the Year, Okiti stated that the panel of judges hinged its decision on the company’s legacy of over 30 years providing top quality products, exceptional customer service and impressive growth performance despite a tough operating environment. He also noted that the business doubled its footprints despite the setback of the COVID-19 pandemic, in addition to leveraging innovation and technology to deepen retail penetration in Nigeria.
He said: “The management of FoodCo has demonstrated uncommon agility in its ability to respond to changing market dynamics as well as discipline in the execution of the group’s corporate strategy. These cannot be taken for granted at a time when stakeholders and regulators are holding boards accountable to stringent governance expectations.
“FoodCo’s sustained commitment to building capacity within the local market via specialist training, investments into the SME community and significant job creation are other qualities that stand it apart.”
Ade Sun-Basorun, Chief Executive Officer, FoodCo Nigeria Limited, who was present to receive the award, dedicated the win to the company’s customers and employees.
He said: “We are grateful and humbled at this recognition from BusinessDay. We owe this win to our over 4 million customers and three generation of families who have traveled this road with us through thick and thin. I also would like to appreciate all of the 850 staff as well as our board who continue to work tirelessly to ensure that FoodCo delivers on its mandate to raise the bar in Nigeria’s retail sector through excellent customer service delivery.”
Established in 1982 as a fresh fruits and vegetables store, FoodCo is a diversified consumer goods company with interests in retail, quick service restaurants, manufacturing and entertainment. The company operates the largest supermarket chain brand in Southwest Nigeria, outside Lagos and is one of only two multi-cannel retailers in the country.