To acknowledge entrepreneurship and individuals advancing the frontiers across the world, August 21 is celebrated as ‘World Entrepreneurs Day’ every year. This year’s celebration which took place on Monday has once again re-echoed the essence of the pivotal role entrepreneurship and industrialisation plays as epicenters 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% 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. The organisation strongly believes that without entrepreneurship, it is most certain that the great economic potentials of any nation might not be fully unlocked, hence has continued to push the frontiers of entrepreneurship and industrialisation which 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 Ososa. In fact, as a social human capital strategy, since Rite Food came onto the scene its major recruitment policy has been such that the local indigenes of the communities have 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 Adedeji Ogunde, the progenitor of the first contemporary professional theatrical company in Nigeria, and largely due to his theatrical exploits during that era. Today, the town has transitioned from a drama stead to a world-class industrialisation hub due to the activities of Rite Foods within that community coupled with its grand leap in the FMCG industry through its world-class industrialisation activities which have continued to unlock the economic potentials of Ososa 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 the African region, 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 Seleem Adegunwa, Managing Director, Rite Foods, ”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,” he avowed.
Consequently, the efforts of Seleem Adegunwa, Managing Director of Rite Foods have never gone unnoticed in this direction. In March, 2023, he was nominated for the highly coveted Ernst & Young [EY] Entrepreneurship Award [Master Category] as a continental honoree in recognition of his sterling entrepreneurship exploits.