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Omatek Boss Calls for Regulators’ Patronage of Listed SMEs

16 Jan 2013

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 Omatek MD, Mrs. Florence Seriki



Goddy Egene

Regulators in the Nigerian capital markets have been urged to patronise the products of listed small and medium scale enterprises as a way of encouraging more listings and boosting the performances of the companies.
The Group Managing Director/Chief Executive Officer of Omatek Ventures Plc, Mrs. Florence Seriki, who made the call in Lagos last Monday, while speaking on the operations of the firm, noted that there were many small and medium scale enterprises that could be listed on the Nigerian Stock Exchange (NSE) but the local content policies of the regulators were not encouraging such firms to seek quotation.

According to Seriki, the Securities and Exchange Commission (SEC), NSE and others in the market should be patronising the products of SMEs that were listed so as to create market for such firms.
“If regulators want SMEs to come to the stock market, they should also review their local content policies to favour those companies. If we do not have market created around us and right policies created around us, we cannot survive as companies. Not everybody will be willing to take a company that he started from the scratch to the stock market without some incentives,” she said.
Seriki added that the pricing of equities on the NSE was also not encouraging more firms to list, stressing that the worth of the companies were not always reflected on the share prices.

Speaking on the performance of the company, the Omatek Ventures boss said shareholders should expect a good harvest by the end of this year, as the investments made over the years would begin to yield dividends.
According to her, the company has moved into its new factory in Ikeja, where all its manufacturing is taking place. She enthused that the development would enhance products availability and customer service delivery.
She disclosed that in 2013, the company would consolidate on its old business initiatives and introduce new ones, while striving to reduce cost of operations.

“We are the first and only completely knocked down factory in Africa that manufactures computers on a completely knocked down process. We produce desktops, laptops, and speakers from completely knocked down. We have powered all the factories with solar even the converters and gadgets and with this, we try to reduce consumption cost by 85 per cent which would help bring down cost,” she said.

She added that the company was not only expanding its consumer scheme and e-learning programmes, but it was also escalating its solar energy solutions to new level in the corporate and public sectors.

Explaining the production of solar technology appliances, including LED bulb, inverters among others, Seriki said the products were low-cost alternative power solution the company introduced into the market to assist customers in the face of energy challenges in the country.

“We have solar hybrid alternative power solutions with the use of LED bulbs together with street lights and alternative power solution using Solar and LED technology. Our solutions combine the benefits of the solar system and those of the LED technology to proffer solutions that reduce energy consumption considerably while saving costs by 60-85 per cent whilst providing 24-hour lighting solution,” she said.

Tags: Business, Nigeria, Featured, Omatek Boss, Patronage, SMEs

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