The Chairman, Royal Exchange Plc, Kenny Ezeanwani Odogwu has said that the company is now repositioned to leverage on technology and growth initiatives in the industry.
Odogwu made known that Royal Exchange now offers shareholders good investment return and increased market share of the industry through the adoption of technology in operations.
Odogwu added that the group is presently streamlining major components of her businesses, service delivery, processes and operations to deliver superior returns in the medium term to its shareholders through a digital transformation process.
“This we believe will reposition our great company as not only a major industry player but as a potential game changer. To sum it up, your board is confident about the future of our company irrespective of the current challenges besetting the company in the short term,” Odogwu said.
Recall that Royal Exchange had disclosed plans to re-strategize its major operations to enable the group and all its subsidiaries meet the growing demands and needs of its numerous customers across the country.
Alhaji Auwalu Muktari, Group Managing Director, Royal Exchange Plc said this was part of the plans to celebrate the company’s centenary anniversary. He noted that as the firm embarks on the next 100 years, it was important that it reassesses the fortunes of the company, and also devised strategies for the next century to remain relevant.
The restructuring, he noted will rest on three pillars:
- Digital Transformation.
- Efficient Distribution Channel.
- Business Process Remodelling.
He further revealed that the company seeks to build and develop digital tools as an enabler to reach its clients and conduct more efficient back-office operations. This he noted will entail the deployment of digital solutions that will ease business operations and also use the various social media platforms to reach current and potential clientele today and tomorrow.
About Royal Exchange
In 1918, Royal Exchange commenced operations in Nigeria represented by Barclays Bank DCO and in 1921 converted to a full branch of its then parent company, Royal Exchange Assurance, London.
The company was in December 1969, reconstituted and incorporated as a Private Limited Liability Company. The company went public on 18 July 1989 and was duly listed on the Nigerian Stock Exchange (NSE) on December 3 1990. The share price is currently trading on the floor of the stock exchange at ₦0.20.