Akwa Feeds Limited And Akwa Rubber Estates Limited are reviewed in this article. We hope you find it helpful and informative.
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These companies were established in Akwa Ibom State with distinguishing prospects that can boost the state’s economic activities and attract investors.
Akwa Feeds Limited And Akwa Rubber Estates Limited
Akwa Feeds Limited
Akwa feeds Limited (AFLs) is one of the industries developed after the creation of Akwa Ibom State which it inherited from the Ministry of Agriculture of the former Cross River State.
It was incorporated to produce feeds and allied products for livestock such as chick layer and grower mash, broiler starter, broiler finisher, and pig and rabbit rations.
The company has two lines of production with a total installed capacity of sixteen (16) tonnes of feeds per annum at one shift of eight (8) hours per day and working 300 days per year.
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The company was 100 percent owned by the State Government until investors called Cone-Group Investors and Technical Managers were appointed in 1996 to the Akwa Feeds Limited. It has a low level of indebtedness to local creditors. The assets evaluation in 1993 stood at N19,718,700.
Thus, in the agricultural sector, Akwa Feeds Limited (AFL) has high prospects for enhancing livestock production to provide much-needed animal proteins for human consumption.
Akwa Rubber Estates Limited
Akwa Rubber Estates Limited (AKRUBEL) company was a subsidiary of Cross River Estates Limited which reverted to Akwa lbom State Government at the State creation in 1987. It Was incorporated exactly on 23rd June 1989.
Akwa Rubber Estates Limited inherited the Crumb Rubber Factory at Ntak Inyang ltam, and the rubber plantations at Use lkot Amama in lbiono Ibom and lkot Offiong lkono in Uyo Local Government Area.
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The company was established to carry out the business of rubber farmers, processors, manufacturers, and product dealers. The crumb factory has an installed capacity of 10 tons of crumb rubber per day.
At incorporation, the company was managed by the State Government under the supervision of the Ministry of Agriculture. By 1990, the company had collapsed and was off production in 1993.
In 1995 a Task Force was set up to run the company which became ailing and the Government accordingly decided to privatize it.
The rubber company has very bright prospects. The company is a member of many rubber-related business organizations that will help to boost its sustainability to earn foreign exchange from its exports.
In a perceptive view, some rubber-based downstream small-scale outfits can be studied for development to use the company’s crumbs. But the company must acquire land for rubber plantation to feed the factory’s 10 tones per day capacity.
In conclusion, Apart from getting assistance from existing industries in developed countries, Akwa Feeds Limited and Akwa Rubber Estates Limited had the potential prospect that could make the business favorable.
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There can determine and focus on policies that will best promote and accelerate industrialization as well as create multi-sectorial investment to diversify the economy and enhance the State’s productive capacity in both Akwa Feeds Limited and Akwa Rubber Estates Limited. Also, when policies are enunciated and implemented, this will attract investment and capital mobilization.