To acknowledge entrepreneurship and individuals advancing the frontiers across the world, 21st August is celebrated as ‘orld Entrepreneurs Day. This year’s celebration 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 per cent of the overall employment and urbanisation development of any society, 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 in Ososa, Ogun State. The organisation strongly believes that, without entrepreneurship, it is 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. This 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 the community.
Since Rite Food came onto the scene through its social human capital strategy, the company’s major recruitment policy has been such that the community has 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 Ogunde, who founded the first contemporary professional theatrical company in Nigeria. Today, the town has transitioned from a drama stead to a world-class industrialisation hub due to the activities of Rite Foods, coupled with its grand leap in the FMCG industry through its world-class industrialisation activities, which have continued to unlock Ososa’s economic potentials, 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 over time expanded its exploits across multiple food and beverages product brands.
As a pioneering innovation-driven leader in its industry in Nigeria and Africa, 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 the Managing Director of Rite Foods, Seleem Adegunwa: “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”.
Adegunwa’s efforts have not gone unnoticed. Last March, he was nominated for the highly coveted Ernst & Young Entrepreneurship Award (Master category) as a continental honoree in recognition of his sterling entrepreneurship exploits.
