Harmony Holdings To Create 1,000 Jobs In Kwara

Harmony Holdings is set to begin Phase 2 of the strategic growth plan by creating more opportunities in the economy of the state with a view to generating more resources and employment opportunities for Kwarans. This was contained in a statement issued in Ilorin by the Head of Corporate Affairs, Kayode Aremu

The second phase include the upgrading of the Patigi Regatta and Nupe Durbar into a world class tourism point, while plans are on-going to resuscitate the abandoned Satellite Motel Ilorin, Kwara Paper Converter Erin-Ile and Kwara Cashew Processing Company Ltd Ogbondoroko.

The resuscitation of Kwara Paper Converter Erin Ile, and Kwara Cashew Processing Company Ltd, Ogbondoroko has the potential to create 1000 lost jobs. There are also plans for the provision of barges at Lafiagi to ease transportation across the River Niger and also to boost economic activities in the area, thereby enhancing the capacity of the citizenry both economically and socially.

In our first year of operation 75 million naira was paid as dividends to the Kwara State Government in 2013. In the first phase, there was the repayment of N465 million out of the renegotiated loan of N600 million incurred by the Kwara State Government on Mandate 3 Estate. The loan had ballooned to N824 million due to non-servicing prior to Harmony Holdings' intervention The Phase one involved turning around acquired businesses and improving on productivity levels as some of these assets have become an eyesore and in terrible state of disrepair.

This necessitated the remodeling of the Adama Bola Saadu House by Harmony Holdings. The building is now wearing a new look and it is the first time it will be renovated since it was constructed 20 years ago. The now aesthetically appealing edifice has attracted comments from passer-by's who have seen the deteriorated state of the building over the years. 'This is beautiful and it is adding to the general facelift and development of the town says former Kwara State Head of Service, Alhaji Mudi Gold. A telecommunication service company which took four wings and last month employed 600 graduates with plans to hire more.

Kwara Express, now Harmony Transport Service has had its operations computerised including ticketing. Loopholes and leakages have been blocked. Most of the outstanding debts to banks totaling N176 million have been settled. New destinations are now reached like Port Harcourt, Makurdi, Jos and Aba with the newly acquired 42 buses. Harmony Securities, a subsidiary of Harmony Holdings has begun diversification of its operation as it has secured an Issuing House license from the Security Exchange Commission SEC. This is expected to broaden its revenue base from fund raising and underwriting activities in the capital market.