Leading multichannel retailer, FoodCo Nigeria Limited, has won the award for Retail Company of the Year at the 2020 BusinessDay Nigeria Business Leadership Awards, held in Lagos.
FoodCo joined a list of 38 companies and eight CEOs recognised for their remarkable leadership and sustained commitment to excellence in enterprise.
According to Ogho Okiti, Managing Director, BusinessDay Media Ltd., organisers of the Awards: “the criteria for vetting was based on a balanced scorecard that assigns weighted averages to leadership, innovation, market share, process improvement, financial performance, employee job satisfaction, social and environmental focus and compliance with extant regulatory requirements.”
He explained that: “FoodCo’s track record of leadership in the consumer goods industry in an undoubtedly tough economic year, impressive year-on-year performance, values of integrity and the highest professional standards at a time when stakeholders and regulators are holding boards accountable to stringent governance expectations and it’s sustained commitment to national development through significant investments in local capacity building informed the decision to bestow the company with this award.”
In his acceptance speech, Ade Sun-Basorun, Chief Executive Officer, FoodCo, expressed appreciation to the organizers for the recognition and dedicated the award to the entire FoodCo team as well as the company’s customers.
He said: “We are truly humbled by this recognition. In what has been a challenging yet remarkable year for us, we have worked hard to make appreciable strides in many areas of our business and today, we are proud to be one of only two multichannel retailers in the country as well as operators of Nigeria’s first true online supermarket.”
“FoodCo is driven by the vision to deliver quality customer service at an affordable price and this award re-enforces our commitment to this legacy. We thank BusinessDay for this recognition even as we set our eyes to transforming the Nigerian organized retail landscape in the coming years ahead and delivering value to all stakeholders within the ecosystem,” he added.