Folakemi Fadahunsi announced as UACN’s new Director

The management and board of UACN Property Development Company Plc, has announced the appointment of Folakemi Fadahunsi as its Chief Financial Officer (CFO) and Director.

A glimpse at Folakemi Fadunsi’s professional career

Fadahunsi is a Fellow of the Institute of Chartered Accountants of Nigeria.

She as a Bachelor of Science Degree in Engineering Physics  from Obafemi Awolowo University Ile-Ife and a Masters of Business Administration from Manchester Business School, Manchester UK.

She started her career with Arthur Andersen (now KPMG Professional Services) where she worked as an External Auditor for 4 years. She also worked in the Consumer Services Sector with companies such as Honeywell Group and GlaxoSmithKline.

Her most recent experience was with Pricewaterhousecoopers, where she worked for 5 years in the Advisory Finance and Accounting unit.

Her experience cuts across Consumer Markets, Telecommunications and the Public sector.

High expectations for Fahunsi 

Fahunsi is expected to deploy her rich experience towards developing and implementing appropriate strategies that will improve the company’s performance across and boost investors’ confidence.

It would be recalled that, a few weeks ago, the company appointed Ibikunle Ibiyinka Oriola, as its Group Finance Director.

Company’s performance

UACN Property Development Company Plc’s performance has, in the last few years, been a drag on the overall group performance.

Results for the nine months ended September 30, 2018, show that revenue fell from N3.1 billion in 2017 to N1.7 billion in 2018. The company’s losses worsened from N1.7 billion in 2017 to N4.5 billion in 2019.

About UACN

UACN was first incorporated in Nigeria under the name Nigerian Motors Ltd on April 22, 1931, as a wholly owned subsidiary of the United Africa Company Ltd, the firm that later became UAC International (UACI).It is a publicly listed company based in Nigeria. Its areas of operation include manufacturing, services, logistics and warehousing, agricultural and real estate. UACN’s food operations include UAC Franchising, UAC Restaurants and UAC Dairies.UACN Group’s stock is currently trading at N8.00 today’s trading session at the Nigerian Stock Exchange (NSE).

Source: Nairametrics

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