{"id":10,"date":"2020-07-11T07:26:54","date_gmt":"2020-07-11T06:26:54","guid":{"rendered":"https:\/\/nlyvn.com.ng\/afriland\/?p=10"},"modified":"2020-07-17T13:42:17","modified_gmt":"2020-07-17T12:42:17","slug":"ceos-new-year-message","status":"publish","type":"post","link":"https:\/\/nlyvn.com.ng\/afriland\/2020\/07\/11\/ceos-new-year-message\/","title":{"rendered":"CEO&#8217;s New Year Message 2020"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Dear Colleagues, Board, and Committee Members<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">I\u00a0wish you and your loved ones a\u00a0Happy and Prosperous New\u00a0Year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2019 was marked by growing uncertainties. Nigeria remained an oil-dependent nation, growth in real GDP under-performed potential GDP. \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nigeria\u2019s Gross Domestic Product (GDP)grew to 2.3 percent year-on-year in 2019 (4<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> Qtr). Average growth in 2019: 2.2% vs Average Growth in 2018: 1.9%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The marginal growth recorded resulted from growth in oil output in 2019; stability in the adoption of macroeconomic variables by managers of the Economy and increased consumer demand in Qtr 4.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Though the Nigerian Real Estate sector exited recession in the 1st quarter of 2019, recording a growth of 0.93 percent, the growth was however not sustainable, and dipped to <\/span><span style=\"font-weight: 400; color: red;\">-3.84 <\/span><span style=\"font-weight: 400;\">percent in Qtr 2, closing at \u00a0<\/span><span style=\"font-weight: 400; color: red;\">-2.0 <\/span><span style=\"font-weight: 400;\">percent in Qtr 4 of 2019.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Afriland Properties Plc achieved 70% of budgeted profit before tax (PBT), we however recorded a 30% increase on 2018 actual PBT.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following income streams account for the 30% shortfall against 2019 PBT budget:<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Properties earmarked for sale, yet\u00a0to be sold (N69mn)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build to sell properties, yet to be built(N292mn)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Build to rent\u00a0on proprietary\u00a0properties\u00a0(N45mn)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Project Directorate Management fee (N207mn)<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">2019 was indeed a tough year, but despite the challenging economic climate, we maximized available revenue streams and our performance yet again, showed hard work, commitment\u00a0and perseverance on all sides and most importantly, the grace of God.<\/span><\/p>\n<p><b>What does 2020 have in store for us?\u00a0<\/b><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Growth will most likely remain unchanged at 2%, well below the expected growth potential of 3.1%.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Inflation Rate will average off at 11.3%, driven by border closure, infrastructure deficit; VAT increase from 5% to 7.5%.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Hopefully, improvement in investor confidence and policies that will boost growth by stimulating lending to the real sector.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Demand for commercial spaces could weaken if Economy remain slow.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Recovery in the RE Sector dependent on lower borrowing costs; improved security and improved traffic management.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Consequently, we must all be ready to think and act, radically. \u00a0The Year 2020 cannot be BAU (Business As Usual).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To\u00a0achieve sustainable growth and increased corporate value\u00a0we need to embrace the following:<\/span><\/p>\n<p><b>Innovation, more Innovation and even more Innovation<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">For us to continue to stay relevant, we must build upon the innovative trends kicked off in 2019 by implementing majority of the strategic initiatives identified.. These innovations\u00a0will\u00a0lead to significant blue ocean opportunities that are vital to our Company\u2019s long-term survival.\u00a0<\/span><\/p>\n<p><b>Be part of the bigger picture<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Align\u00a0responsibilities, goals and purpose. Fully understand how each of your goals connect to the larger objectives of the organization.\u00a0Identify with the Company\u2019s purpose of improving lives by investing in the development, management and maintenance of world-class Real Estate offerings across Africa.\u00a0<\/span><\/p>\n<p><b>The 3 Es<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Execution, Enterprise and\u00a0Excellence; These are the fundamental values of our organization and they\u00a0should continue\u00a0to reflect in all that we do.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Execution &#8211; a burning desire to always see things through to completion in a timely, efficient and effective manner.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Enterprise &#8211; having the willingness and determination to do whatever it takes to get the job done.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Excellence &#8211; delivering in an outstanding manner, consistently.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In 2020, we\u00a0will\u00a0focus on the renewed vision on how best to serve our customers, new products, new revenue streams, in a bid to increasing shareholder value for all stakeholders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Thank you all for 2019 and welcome to 2020! I look forward to the start of an amazing decade\u00a0with the most amazing team.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">God bless us all.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><b>Uzo Oshogwe<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Colleagues, Board, and Committee Members I\u00a0wish you and your loved ones a\u00a0Happy and Prosperous New\u00a0Year. 2019 was marked by growing uncertainties. Nigeria remained an oil-dependent nation, growth in real GDP under-performed potential GDP. \u00a0 Nigeria\u2019s Gross Domestic Product (GDP)grew to 2.3 percent year-on-year in 2019 (4th Qtr). Average growth in 2019: 2.2% vs Average&hellip; <a class=\"more-link\" href=\"https:\/\/nlyvn.com.ng\/afriland\/2020\/07\/11\/ceos-new-year-message\/\">Continue reading <span class=\"screen-reader-text\">CEO&#8217;s New Year Message 2020<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"acf":{"author":"Uzoamaka Oshogwe","read_duration":"3","featured_image":"https:\/\/nlyvn.com.ng\/afriland\/wp-content\/uploads\/blogpost-bg.png","publication_date":"2020\/01\/01","title":"CEO's New Year Message 2020","excerpt":"Like All Heirs Holdings Investee Companies, Afriland Properties Is Committed To Africapitalism"},"_links":{"self":[{"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/posts\/10"}],"collection":[{"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/comments?post=10"}],"version-history":[{"count":10,"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/posts\/10\/revisions"}],"predecessor-version":[{"id":112,"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/posts\/10\/revisions\/112"}],"wp:attachment":[{"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/media?parent=10"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/categories?post=10"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nlyvn.com.ng\/afriland\/wp-json\/wp\/v2\/tags?post=10"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}