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Coga Group

Coga Group. Strategic Steps to Profitability and Sustainable Growth. Coga Group – Addressing the Issues. Vision/Mission/Objective Operational performance / Expectations in the last 3 years Cassava / Maize / Jatropha Processing Financial Performance -Audited Accounts

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Coga Group

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  1. Coga Group

    Strategic Steps to Profitability and Sustainable Growth
  2. Coga Group – Addressing the Issues

    Vision/Mission/Objective Operational performance / Expectations in the last 3 years Cassava / Maize / Jatropha Processing Financial Performance -Audited Accounts 2006 – Half Year / 2007 / 2008 Social performance How come with the Valuation Projections & Business Plan for 2009 and beyond Fund Drive COGA Farms –Yesterday , Today & Tomorrow
  3. Vision

    To become a foremost player in commercial farming and food production in West Africa, with key focus on poverty eradication, whilst transforming agriculture into a respectable, dignifying and high paying career path. COGA Farms –Yesterday , Today & Tomorrow
  4. Mission

    We will consistently seek to transform agricultural farming system in West Africa to a modern technology-driven large scale commercial farming And provide opportunities towards achieving sustainable community development, As well as redressing the demographic imbalance by reversing rural-urban drift. COGA Farms –Yesterday , Today & Tomorrow
  5. Shared Values

    Integrity Excellence Teamwork Commitment COGA Farms –Yesterday , Today & Tomorrow
  6. Objective

    Strategic intent is to develop 1000Ha wihin the deadline perovided in the MoU with Kwara State Government Are we on course to achieving the above objective? COGA Farms –Yesterday , Today & Tomorrow
  7. The Journey –At the Begining

    At the commencement, there was a clear plan of what we wanted to do Primary focus was cassava, although the medium term plan was for integrated farming Original plan was to engage a consultant that will help establish the farm In 2006, we engaged IITA and a consultant was recommended to us, who we were td, was already successfully running a large scale commercial farm COGA Farms –Yesterday , Today & Tomorrow
  8. The Journey – The Consultant

    The Consultant provided us with a plan, which showed that the business will be highly labour intensive Her first task was to source for and deliver equipments. Unfortunately the equipments and implements supplied were already badly used and wrecked It therefore became quickly apparent to us even before we signed a formal contract that the use of a consultant will not work COGA Farms –Yesterday , Today & Tomorrow
  9. The Journey – The BDT Innovation

    We turned inwards and came up with a creative idea of Business Development Team (BDT) With the BDT concept we were able to cultivate 108 ha in 2006, even though we started farm clearing in July 2006 In 2007, we left farm staff to continue with running of the farm We called for funds in 2007, but the response was rather dissapointing as many of the investors did not release funds in good time COGA Farms –Yesterday , Today & Tomorrow
  10. Coga Group – Need for Mechanisation

    Following a strategy review of Coga operations in 2007, we realised that there was serious labour shortage in our area of operation, as we had to import labour from far distances The labour shortage made our operations very slow and difficult Coupled with the need to expand the farm, it was agreed that we needed to become better mechanised in order to reduce our dependency on manual labour COGA Farms –Yesterday , Today & Tomorrow
  11. The Journey – Cassava Glut

    In 2008 we carried out another strategic review, which considered the glut in cassava market that started in late 2007 Many people went into cassava planting based on the policy of the Obasanjo administration, which compelled flour millers to use 10 % cassava input Following the change in administration the policy was no longer enforced and most flour millers stopped using cassava flour, which led to cassava glut COGA Farms –Yesterday , Today & Tomorrow
  12. The Journey – Maize & Jatropha Cultivation

    During the 2008 review, we also identified opportunities for diversifying into both maize cultivation and bio-fuel business We therefore cultivated maize, as well as jatropha, which can be processed into bio-diesel Parts of the biodiesel bi-products are also useful for ferlizer application Alhamdullilah, the Government of Kwara state heard about our plans for Jatropha cultivation and invited us for discussion on ways to collaborate COGA Farms –Yesterday , Today & Tomorrow
  13. The Journey – KWSG Support

    This lead to the government providing additional 5,000 ha of land for cultivation of jatropha alone, in addition to the 1,000 ha for cassava In addition, KWSG promised to provide Coga with borehole and power transformer for our operations –work has commenced on both Kwara State government also paid huge sums of money on compensation payments for the acquired land COGA Farms –Yesterday , Today & Tomorrow
  14. The Journey – Bio-Fuel Businees Opportunities

    Discussion is currently ongoing between Coga Farms and foreign investors from Carlifornia USA, desirous of establishing a bio-diesel production plant in Kwara State, on an MoU for supply of jatropha feed-stock The RED of NNPC have also visited Coga farms to assess the level of jatropha cultivation and are eager to collaborate with Coga of bio-diesel COGA Farms –Yesterday , Today & Tomorrow
  15. The Journey – 2009 Re-Structuring

    Based on 2008 operations performance and results of harvesting from 2006 & 2007 cassava and 2008 maize, a performance review was carried out This led to re-structuring of Coga Farms operations at the begining of 2009 planting season We also engaged new staff and sent all of them, including the old staff to a large commercial farm for additional training and exposure COGA Farms –Yesterday , Today & Tomorrow
  16. The Journey – Our Current Plan We expect that InshaAllah, there-training of staff, re-structuring, as well as the performance based reward system we have introduced will help improve both performace of the staff and efficiency on our farm operations In 2009 we intend to plant maize early and after harvesting we plan to immediately cultivate cassava on same land COGA Farms –Yesterday , Today & Tomorrow
  17. The Journey – The Funding Challenge

    The nature of farming business requires that key resources must be made availabe at specific time –e.g. land clearing, crop cultivation, equipments availability This ultimately requires that funds must be readily available at specific times Due to lateness in availbality of funds in 2008, we started planting operations very late, by which time operations became very slow and difficult due to heavy rainfall There was also an unexpected change in rainfall pattern in 2008, which started very early and lasted much longer that normal duration COGA Farms –Yesterday , Today & Tomorrow
  18. Coga Group – Re-energized For The Future

    Since inception, 2009 was the 1st time we were able to start clearing operation at the appropriate time With the experience over the last 2 years on cassava and maize, as well as with organisational re-structuring and re-training of staff, we are on the way to better performance, InshaAllah COGA Farms –Yesterday , Today & Tomorrow
  19. Coga Group – The new Working Structure

    Due to our inability to immediately get an experienced GM/Farm Manger. The farm has been divided into units of 100Ha each Each unit is headed by a District Head who supervices operation from Land clearing to Harvesting as applicable Each Diatrict has Target/KPI and take a profit share Each district provide cultivation plan showing weekly deliverables for the season Weekly joint District operations and funding requirement meeting COGA Farms –Yesterday , Today & Tomorrow
  20. Coga Group – Supporting the new Structure

    Group Technical Workshop Engineer Tractor Operators Equipment/Implements Applications/ Operations Commercial Accounts Sales Store Procurement IUS Harvesting Labour Mobilisation/Management Special Projects HR COGA Farms –Yesterday , Today & Tomorrow
  21. Coga Group – The new Structure Supervison

    Monthly Operations Management meeting –NG and SM to join by Telephone Monthly Visit to Farm BDT series 2 to commence from May 09 and will last till the end of cultivation operations BoD Review weekly activity reports from Heads of Districts and Department Weekly expense report from Accountant Montly financial Statement BoD meets monthly COGA Farms –Yesterday , Today & Tomorrow
  22. Coga Group – Maize Collaboration

    To improve yield in Maize while at the same time reducing cost we are in collaboration with Sasakawa Global 2000 Why Sasakawa They have reported the highest yield ever of 5ton/Ha They have visited Coga Farms to access our operation and have conducted training for our staff They provided guidiance on proper ferterlizer application and selection and utilisation of herbicides for weed control COGA Farms –Yesterday , Today & Tomorrow
  23. Coga Group – Cassava Collaboration

    To improve yield in Cassava while at the same time reducing cost we are in collaboration with IITA and Mr Ayo Odebisi –A Renouned Agric Consultant Why IITA and Mr Odebisi? IITA is well known for their research in crop production world wide Mr Odebisi has been in Agric business since the early 80s, he is a consultant to some large farms within, Federal Government and IITA We are sourcing for fast growth hybrid and high yield Cassava variety that has high strach content, and can survive in our environment humidity COGA Farms –Yesterday , Today & Tomorrow
  24. Coga Group – Equipment Collaboration

    Through Mr Odebisi we are collabotation with Mr Rafiu, an Ilorin based equipment specialist Need for the Specialist: Sourcing for equipment at affordable price He has been able to put back into operation two of our tractors that have been down since 2007 He helped to source for experienced technicians for fixing our tractors COGA Farms –Yesterday , Today & Tomorrow
  25. Coga Group – Weed Control

    Also through recommendation of Mr Odebisi we are in collabotation with a Nigerian company that are specialists in weed control The weed control experts from the company have visited our farm to assess our farm and our challenges. Appropriate solutions have been recommended Need for the weed control specialist: Apart from 2006, we have had weed challenges and this is one of the areas we intend to reduce cost. We need to re-train our staff on proper application of herbicides. COGA Farms –Yesterday , Today & Tomorrow
  26. Coga Group – 2006/7 Performance Review

    In 2006 we cultivated 108 ha of cassava, with expected yield of 20 tons/ha Actual yield is yet to be confirmed as harvesting is still ongoing Current average indication from harvested areas is 15tons/ha In 2007 we cultivated 198 ha of cassava, with expected yield of 20 tons/ha Harvesting is also ongoing in the area and actual average yield will be determined after after completion of harvest in Q2 2009 COGA Farms –Yesterday , Today & Tomorrow
  27. Coga Group – 2008 Performance Review

    In 2008, we cultivated 61 ha of cassava, 70 ha of maize and 22 ha of jatropha, leaving over 40 ha of cleared land unplanted, due to lateness in fund availability Projected yield for maize was 1 ton/ha, but the average actual yield was 0.9 ton/ha Jatropha plant matures in about 9 months, but indications from the current visual inspection isthat we will InshaAllah meet our projections of 3 tons/ha COGA Farms –Yesterday , Today & Tomorrow
  28. Coga Group – Processing Operation Review

    Plan for processing was to process cassava into flour, starch and garri The processing plant with be built in modules Orders were placed for all processing equipments and some of them have arrived We also engaged a consultant on cassava processing, who has assisted with the planning and set up of processing plant The 1st module of the processing plant has been completed and garri processing is already ongoing COGA Farms –Yesterday , Today & Tomorrow
  29. Coga Group – Cassava Market Potential

    The size of cassava farm market in Nigeria is enormous Nigeria Starch Mill alone requires 400 ton of fresh Cassava tubbers per day for their starch production plant, which has capacity of about 10,000 ton per month COGA Farms –Yesterday , Today & Tomorrow
  30. Coga Group – Market for Starch, Garri and Flour

    COGA Farms –Yesterday , Today & Tomorrow
  31. Coga Group – Other Efforts

    KWSG has already mobilised a contractor for borehole drilling and for electrification of Coga premises We have sent bid to the Federal Government on public/private partnership for establishment of agro processing plants We have sent a bid to Federal Government for sale of grain to government for national grain reserve 2009 is a critical year for us to turn things around in Coga and to make us attractive for external investors COGA Farms –Yesterday , Today & Tomorrow
  32. Coga Group – Social Performance

    Our operations in Moro LGA of Kwara State has significantly enhanced the economy and quality of life of our host communities, including Bode Saadu, Jebba and beyond. We have also impacted human capital development in Kwara State. The presence of Coga has improved socio-economic well-being of individuals and businesses in Kwara State. Coga has drawn attention of the KWSG to Moro LGA Rural/urban drift has considerably reduced in Moro LGA COGA Farms –Yesterday , Today & Tomorrow
  33. Financial Summary –Sources & Application of Funds

    COGA Farms –Yesterday , Today & Tomorrow
  34. Financial Summary – Profit & Loss

    COGA Farms –Yesterday , Today & Tomorrow
  35. Coga Group – Valuation Valuation for the recent invitation for investment in Coga Group was by based on the existing book value, including good will COGA Farms –Yesterday , Today & Tomorrow
  36. Why The Fund Drive? We need to keep focus on our original objective –i.e.MoUwith Kwara State Government to develop 1000Ha within certain time frame To achieve capatalisation base for growing the business via IDB funding To deliver the strategic change in operational approach –from labour intensive operations to fit-for-purpose mechanisation COGA Farms –Yesterday , Today & Tomorrow
  37. Coga Group – Application of Fresh Fund

    Full mechanisation Land clearing and management Improved Cultivation Techniques Fertilizer Chemicals for Weed control Weigh bridge Maize dryer Processing Communication Mobility Infrastructure Water COGA Farms –Yesterday , Today & Tomorrow
  38. Coga Group – Projections for 2009

    COGA Farms –Yesterday , Today & Tomorrow
  39. Coga Group – Yesterday, Today & Tomorrow

    Coga … Yesterday, it was a dream Today, it is reality Tomorrow, it will be a success story, InshaAllah … And there is no success, except with Allah COGA Farms –Yesterday , Today & Tomorrow
  40. Coga Group

    …While others are afraid ….Great Companies have emerged during periods of crisis leveraging on their people and organization capacity to empower their people to be BOLD, STRATEGIC and provide returns to investors soon. COGA Farms –Yesterday , Today & Tomorrow
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