•Listed among companies to inspire Africa in 2019
Lagos Deep offshore Logistic Base, LADOL, made the London Stock Exchange Group (LSEG) list of companies to inspire Africa in 2019 having been found to have met the Group’s stringent conditions of recording an average compound annual growth rate of 46% up from 16% last year, and employing at least 350 people with an average compound annual growth rate of 25 per cent.
Also, Avon Healthcare Limited (Avon HMO), Nigeria’s leading Health Management Organization, has emerged as the only Health Insurance Company in the country to be listed in the 2019 ‘Companies To Inspire Africa’ report.The report, compiled by the LSEG, featured 360 businesses across Africa adjudged to be “the most inspirational and dynamic, private high-growth companies across the continent.”
A total of 97 Nigerian firms made the cut while Avon earned the distinction of being the only company operating in the country’s Health Insurance space to be selected. The LSEG adjudged LADOL and other companies nominated “as crucial to the future of the African economy capable of driving transformative economic growth in their home countries, Africa and beyond.”
At the ceremony, David Schwimmer the Chief Executive Officer, CEO of LSEG said: “London Stock Exchange Group’s ‘Companies to Inspire Africa’ report showcases inspirational and entrepreneurial businesses from across the African continent, representing a wide variety of industries and countries. It is particularly encouraging to see the increasing influence of women in leadership roles in these fast-growing companies, playing a pivotal role in shaping the future of African business.
These high growth companies have the potential to transform the African economy and become tomorrow’s job creators. At LSEG, we are committed to helping companies realize that potential and we are pleased to highlight and celebrate the company success stories behind one of the world’s fastest growing markets.”
Managing Director of LADOL, Amy Jadesimi said: “LADOL is honoured to be included in London Stock Exchange’s (LSE) list of
Companies to Inspire Africa. We thank the entire LSE team for all their hard work in compiling the report and today’s launch, at which I was proud to be invited to speak.
“Operating out of LADOL saves IOCs 50% on their costs in deep offshore logistics, saving billions of USD each year. This compelling value proposition was well known for over a decade and a half, yet today LADOL is the only deep offshore support base in Lagos. A clear example of how international investors are missing out on billion dollar investment opportunities by not investing in market case-based business models in Africa,” Dr. Amy said.
LADOL is the largest private indigenous free zone and a strategic economic zone in Nigeria, built in a secure Island, inside the port of Lagos. Local and international oil and manufacturing companies have found the LADOL location and facilities as the most ideal to execute giant industrial projects.
The report noted that 23 percent of senior executives out of the 97 featured Nigerian companies are female, a significant leap from 12 percent in last year’s report. Reacting to Avon HMO’s inclusion in the list, Adesimbo Ukiri, the company’s Managing Director/Chief Executive Officer, expressed her delight and appreciation. She also specially commended other female executives whose companies were featured alongside Avon HMO.
“We’re immensely honoured to be listed as one of the companies to inspire Africa by the London Stock Exchange Group. We appreciate our enrolled members who have trusted us over the years and keep telling others about us; our partner healthcare facilities and their committed physicians & other staff who have bought into our responsiveness and quality of care mantra, and finally all our staff, who live their passion every day, bringing high energy levels and creativity to work.”
Established in 2013 and with a network of over 700 partner hospitals, Avon HMO has grown to become a key player in the Nigerian Health Insurance space leveraging on innovation through technology to give Nigerians access to quality healthcare services.
The company was the first to introduce retail health plans specifically targeted at inclusion for populations outside the formal economy. It was also the first to make subscriptions for health plans available online in order to improve access to healthcare.
The partnership between LADOL and Samsung Heavy Industries, SHI in respect of the construction of Floating Production Storage Offshore, FPSO, vessel for the $16 billion Egina deep water oil field, is a testimony to LADOL’s special position in respect of logistics services for the offshore operators.
In support of the Nigerian government local Content Law, Total invested some $214million for upgrading of LADOL’s facilities with Samsung as the contractor. Local and International companies can now engineer, manufacture and train in this safe sustainable ecosystem.
LADOL is looking at creating 50, 000 direct and indirect jobs across a range of industries, thereby boosting the economy of Africa’s largest black nation.LADOL’s strides have indeed impacted significantly on the economy, thereby earning it the recognition of LESG among other foreign agencies and groups. Having halved the cost of petroleum sector service provision and positively disrupted the sector, the developers are focused on creating a circular economy within the zone and attracting non-petroleum sector companies into the zone, starting with agriculture and technology.
LADOL’s Managing Director, Amy Jadesimi was voted the Young CEO of the Year (2018) by the African Leadership Forum, an Archbishop Tutu Fellow, working to reduce maternal mortality, Young Global Leader (WEF), Rising Talent (Women’s Forum for Economy and Society), 20 Youngest Power Women in Africa (Forbes), Top 25 Africans to Watch (Financial Times). The companies to inspire Africa 2019 report was produced by LESG in partnership with African Development Bank Group, CDC Group, PwC and Asoko Insight.
The West Africa Regional Senior Partner, PwC, Uyi Akpata said: “initiatives such as this help expose these companies to a global audience, and we hope will lead to further collaboration across border with London-based investors and strategic partners. It is also great to see the public sector represented here. It is an important testament to their commitment to supporting the private sector and continuing to drive improvements in ease of doing business.
