Bimbo Ashiru: How We Brought O’dua Investment Back to Life
The outgoing Chairman of O’dua Investment Company Limited, Bimbo Ashiru, recounts how the board revived the 50-year-old regional investment company, transforming it from an asset-rich but cash-poor, underperforming enterprise into
O'dua Investment Company Limited, established 50 years ago by Chief Obafemi Awolowo, is a 50-year-old regional investment conglomerate founded to create investment opportunities for the people. The company, originally focused on cocoa, grew to include real estate, hospitality, and manufacturing. The Western Board (now Wemaboard) is an 82-year-old subsidiary of O'dua.
After the military government took over the company, it struggled to achieve its original goals, but under the leadership of Bimbo Ashiru, the company has transformed into an AA-rated, financially stronger enterprise. Ashiru explains that the board focused on making O'dua a world-class conglomerate, with directors continuously upgrading their knowledge through business school education and staff undergoing capacity-building programs.
The company's real estate and hospitality divisions are now managed by Wemaboard. O'dua has also invested in various organizations, including Iwosan Healthcare, FCMB Pensions, and Dangote Industries. Ashiru is currently in an Emeritus Chair role and looks forward to supporting the new Group Chairman, Dr Tola Kasali.
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