Group projects N10tn asset in 30 years
Lancelot Group has disclosed plans to grow its assets to N10tn in the next 30 years.
In a statement, the Group Executive Chairman, Mr Adebayo Adeleke, said this during a lunch organised to commemorate the 30 years anniversary of Lancelot Ventures Limited in Ikeja, Lagos.
The group, as part of efforts to realise its plan, currently has six subsidiaries and two associate companies, and was into capital market operations (fund/portfolio management and registrars), agricultural sector, leasing, real estate and publishing.
He said, “Though, it may look too ambitious, but with proper examination of our books with our organic growth model and our annual turnover, I believe we can achieve the N10tn,” he said.
He disclosed that the management had restrategised its operations in readiness for the next 30 years and beyond, by leveraging on latest technologies and employed qualified workforce to push the company’s assets to N10tn by 2053.
According to him, the corporate governance structure in place would ensure the company continued to succeed in the sectors it was playing in.
While recalling its early years challenges, he said Lancelot Ventures Limited, which later metamorphosed into a group was founded in February 1993.
He noted that the staying powers of the company over the years were a clear vision, perseverance, sacrifice and hard work, and that through the years, the management had a focus on its vision which was “to deploy knowledge and capital to build enduring and profitable businesses that add value to all stakeholders.”
While acknowledging the grace of God upon the company’s activities in the past three decades, he said the moving force behind the continuous existence and growth of the group was the value system.”
The Chairman of one of the group’s subsidiaries, Alhaji Danladi Yaro, commended the vision of the pioneers of the company and the patience with which they laid a solid foundation over the past three decades.