Mouka Foam has stated that its strategic backward integration exercise has resulted in increased product
Mouka Foam has stated that its strategic backward integration exercise has resulted in increased productivity, as well as helped to tackle problems associated with shortage of foreign exchange (Forex).
According to the Managing Director, Femi Fapohunda, the company has intensified efforts to improve its local sourcing of raw materials and enhance productivity.
At the firm’s yearly Business Partner Awards and Scholarship programme held in Lagos at the weekend, Fapohunda said substituting most of the foreign materials has enabled the company to achieve a significant reduction in importation and over-dependence on forex.
“We are finding local substitutes to our imported materials, so, we do not need to look for forex to produce them. Also we try to do margin improvement on our products to focus on what best the customers are asking for to make our products available with the right quality.
“Indeed, we have integrated where possible and introduced products that align with the environment and the need of our customers. A significant percentage of our materials are sourced locally presently.”
Also speaking at the event, Mouka’s Chief Executive Officer, Raymond Murphy, applauded the Business Partners, who have stayed committed and contributed immensely to the company’s growth trajectory.
“Their unwavering commitment is evident in their sales and distribution of Mouka’s portfolio of quality products to millions of consumers across the country. They have demonstrated an immense commitment to this partnership and Mouka’s revenue growth despite Nigeria’s economy for our mutual benefit. With extensive collaboration on many initiatives, they have made our brand a household name in Nigeria in pursuance of our mission of adding comfort to life.”
The firm rewarded its business partners with over N111, 000,000 worth of scholarship fund, high-end laptops and educational materials for their children. In addition, 15 junior staff of the company went home with scholarships to the tune of N5, 000,000 as an act of goodwill from the company.
guardian.ng