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| Riggs ventures West Africa Limited (formally Riggs Security Limited) hereinafter
referred to as “the Company”, is a limited liability company incorporated on the
13th of July 1990 (RC 225899) and commenced operation on 1st
of April. It started business as a financial management services company to
service an identifiable gap in both structured and informal aspects of financial
sector, and also as a commodities trading company. The Company, since
incorporation, has been involved in many aspects of the financial sector of the
economy – the money market, the capital market and the foreign exchange market
both locally and internationally. Over the years, the company has diversified
its business interests to cut across activities in Sacks Manufacturing, Haulage
and Logistics, Medium/Micro Financing and Bureau De Change Services.
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The company aims at increasing the production capacity of its woven sacks
plants, by diversifying into production of cement/flour bags, increasing the
capacity of its haulage business and proper positioning and deepening of Riggs
Microfinance services. We also intend to inject more working capital into the
Bureau de Change and upgrade our Technology and Processes.
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| a. The company will steadily strive to upgrade the quality of its existing products
and services to meet and exceed
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| customer`s expectations. |
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| b. The company will continue to diversify its
investments into areas identified to be capable of adding much value to the
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| net worth of its shareholders. |
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| c. A strategy of cost reduction and profit enhancement
initiatives shall always be a focal point.
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| d. There is a centralized group strategy/planning unit
that shall focus on appropriate monitoring and evaluation of the
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| performance of various
business units/interests of the company against industry benchmarks. The
periodic variance |
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| analysis and feedback remedial
actions will ensure that targets are achieved. A good industry and control
systems will
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| drive each business segment of
the company. |
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To create a unique environment for delivery of superior customer
satisfaction through efficient services and maximization of economic potentials.
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To carve a niche for our organization through consistent provision of personalized and efficient
services in finance, logistics and manufacturing sectors thereby giving
exceptional value to all our stakeholders. |
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The Group`s enduring core values include:
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Reliability |
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Integrity |
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Good
Corporate Governance and Best Practices |
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Goals-Oriented and Target-Driven |
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Service
to Target Market and the Community |
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One of the most important assets of the company is its personnel, which it uses for
creation and delivery of its unique products and services. Therefore the
management philosophy includes investments in its personnel by way of adequate
training and giving each staff
opportunity to develop his capacity to the clients enjoy products and services
that meet international standards.
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The current organizational structure of the company showing channels of communication
and levels of management responsibilities is shown below. The Company operates
three Strategic Business Units (SBU`s) and two Strategic Support Functions
(SSFs).
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The SBUs Are: |
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Sacks Manufacturing
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Haulage and Logistics
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Investments
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The SSFs Are: |
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Business Development, Planning and Finance |
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Risk Mangement And Compliance. |
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