FoodCo expands, targets market channels for local MSMEs

FoodCo Nigeria Limited has restated its commitment to promote modern retail in the country and provide access to market channels through strengthened partnership with local manufacturers and Micro, Small and Medium Enterprises (MSMEs) in the Southwest region.

FoodCo stated this at the opening of its 20th brand store in Adegbayi, Ibadan, Oyo State, comprising a supermarket, restaurant, in-house bakery and grills.

The Head of Innovation & Growth and Business Transformation, FoodCo Nigeria Limited, Funmi Aiyepeku, said the new facility underscores the company’s responsiveness to customers’ demand by bringing quality assurance, convenience and excellent customer service that modern retail offers closer to the people of the community and its environs.

Aiyepeku said the milestone speaks about the company’s resilience in the face of tough economic headwinds and its commitment to delivering quality on customers’ expectations at an affordable price.

She said at this period of great shifts in the market, the company has remained unwavering in its resolve to redefine modern retail in Nigeria by fostering a new model based on customer-focus, innovation and community partnerships.

According to her, this is the motivation behind the promise to always deliver quality at an affordable price and the outlet strengthens the resolve towards fulfilling the pledge.

Speaking on the company’s strategy for growth amid a lowered customer purchasing power, Aiyepeku explained that part of FoodCo’s success hinged on its agility in adapting to the dynamics of the market.

She said presently, the company is exploring and investing in new technologies to attract the mostly mobile younger population and deliver a seamless shopping experience to them in an increasingly cost-effective way.

Speaking on promoting locally produced goods, the Head of Supply Chain, FoodCo Nigeria Limited, Ayotunde Oshintuga, said the company takes more locally produced goods seriously and follows due government regulation.

Oshintuga said in addition to patronising local manufacturers, the company also partners small farmers to improve customers’ experience around getting fresh farm items. He said the company works with about 700 local suppliers and is deliberate about supporting and promoting the local industry.

According to him, one of the biggest challenges for the local producers and manufacturers is access to the market, adding that FoodCo readily provides this market and gives them an opportunity to access the markets.

Speaking on quality control, Oshintuga, said the company has a strong system for quality control and auditing of products to check for standard and expiry date on all the products brought into its warehouses.