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FAE indicates commitment to local market development, unveils products

By Margaret Mwantok
23 July 2019   |   4:23 am
FAE Limited, an envelope manufacturing company in Nigeria, recently unveiled premium envelopes and letterheads that are designed to enhance the equities of brands.

President, African Public Relations Association, Yomi Badejo-Okusanya (left); Chairman, NEPAD Business Group Nigeria, Dr. Mrs. Nike Akande; Managing Director, FAE Limited, Princess Layo Bakare-Okeowo; Her husband, Richard; President, Manufacturers Association of Nigeria, Mansur Ahmed, and President, LCCI, Babatunde Ruwase at the Launch of First Class, a premium product for Corporate Envelopes and Letterheads from the stable of FAE Limited in Lagos PHOTO: FEMI ADEBESIN-KUTI

FAE Limited, an envelope manufacturing company in Nigeria, recently unveiled premium envelopes and letterheads that are designed to enhance the equities of brands.

Speaking at the ceremony, tagged, ‘First Class Envelopes and Letterheads’, in Lagos, the company’s Managing Director/Chief Executive Officer, Princess Layo Bakare-Okeowo, explained that the decision to introduce the new offerings was borne out of the need to create more value for businesses.

She stated that the company, which started as a trading company, few decades ago, delving into manufacturing to enable it further support businesses, desirous of enhancing their brand equity.

Okeowo also expressed optimism that the new product, which is biodegradable, would go a long way in positively changing the landscape of envelope production, globally.

She stressed the need for Federal Government to create an enabling environment for businesses to thrive through a review of nation’s tax regime and investment in power sector.

The FAE boss added that one of the long-term plans of the company is to turn the products into major revenue earners, by making some of its offerings available beyond the shores of the country.

“We believe that these new products would positively change the production landscape, globally.

“Our lofty desire and strategic business plan is to see the products beyond the shores of Nigeria, thus, making them major foreign exchange earners,” she added.

The President, Lagos Chambers of Commerce and Industry (LCCI), Mr. Babatunde Ruwase, expressed optimism that the new products would go a long way in enhancing the status of businesses in the country.

He, however, expressed the need for the company to diversify to enable it cope with the changing terrain in the industry.

Also, President, Manufacturers Association of Nigeria (MAN), Engineer Mansur Ahmed, commended the company’s exploits in the nation’s manufacturing sector.

He noted that while the signing of the African Continental Free Trade Agreement (AfCTA) by Nigeria would enhance trade opportunities for businesses in the country, brands desirous of survival must be ready to compete globally.

“I commend FAE for its latest offerings. It is also a good thing that they are thinking of expanding beyond the shores of Nigeria. The recent signing of the AfCTA agreement by the Federal Government, no doubt, offers businesses opportunities to explore the global market.

“Interestingly, what it simply means is that businesses desirous of survival must be thinking along this line too. They must be ready to up their games and compete, globally,” the MAN boss added.