Red Star targets new opportunities in Nigeria
Red Star Express Plc has announced plans to leverage recent acquisitions made by the company to open up new investment opportunities in Nigeria as well as penetrate the global market.
The logistics giant, which has become one of the most reputable firms in Nigeria, said the acquisition of FedEx has provided the company an unparalleled reach into the European market.
Red Star became an Associate of TNT following the acquisition of TNT by FedEx in 2016. Addressing stakeholders during the unveiling of a new logo to mark its 25th anniversary, the Group Managing Director, Red Star, Sola Ababori, said the company is currently investing in projects that would consistently create value and boost the economy even in the next 25 years.
He said the company has secured approvals to construct warehouses in some states in Nigeria, adding that it is also investing in additional fleet to support the investments.
“We are doing investments that would be there for more than 25 years after now. We have all kinds of approvals to construct warehouses in few places in Nigeria. We are bringing foreigners to help us do some of those investments. We are working with some states in Nigeria and government to execute these projects.”
The Group Executive Director, Sales and Marketing, Victor Ukwat, said the firm is poised to increase shareholders’ value, urging investors to keep faith with it for future investment yields.
“We try to be at the forefront of innovations. Shareholders should keep faith with us because we are coming out with new products and services and we are going into industry we do not operate before.