Thelma Tokunbo
Thelma Tokunbo has committed to enhancing the market penetration of Coleman Wires and Cable products across Africa.
Mr. Ajayi-Kadir made this promise during a recent tour of Coleman Wires and Cable Industries’ factories in Arepo and Sagamu, Ogun State.
The MAN DG, accompanied by his team, expressed satisfaction with the large capacity of the factories, stating, “There is no doubt that we have witnessed one of the best wire manufacturing companies on the continent.”
He continued, “This gives us confidence that we are on the right track with respect to the industrial aspirations of our nation within Africa”.
Ajayi-Kadir emphasized that MAN would do everything to support Coleman in whatever ways the company need their help.
Furthermore, the MAN DG revealed that the ECOWAS Business Council would be launched by December 2024, providing a platform for the private sector to address economic issues impacting African nations.
“At the regional level, numerous protocols have been signed to support economic activities, but many of these are politically driven,” he said.
He noted that the new platform would enable the private sector to engage directly with policymakers. “For instance, the president of the business council will be invited to meetings with heads of state and ministers, allowing us to resolve key issues,” he explained.
Ajayi-Kadir also mentioned that one of the platform’s priorities would be to address barriers hindering cross-border value chains.
He commended Coleman Industries for its capacity to operate gas power electricity independently while he also acknowledged the challenges faced by the manufacturing sector, particularly smuggling and dumping.
In his remarks, Mr. George Onafowokan, Managing Director of Coleman, expressed his gratitude for MAN’s support.
He emphasized that Coleman’s goal is not only to satisfy the Nigerian market but also to expand into other African markets and beyond.
Onafowokan highlighted the difficulties of penetrating some African countries, including high tariffs and a lack of government support for local manufacturers. “If we allow other countries to trade in Nigeria, why should it be difficult for us to access their markets? There is a need to address these market entry barriers,” he asserted.
He also said Coleman by 2025 will celebrate 50th years anniversary which a big story of succession plan.
He also discussed the importance of expanding Coleman’s capacity despite industry challenges, emphasizing that domestic companies like Coleman are better suited to building a lasting legacy in Nigeria than Foreign Direct Investment (FDI). “Coleman’s succession plan is proof that domestic investment can thrive, but unfortunately, many manufacturers lack such stories. We need support from MAN in terms of fiscal policy,” Onafowokan concluded.
