Japaul Gold &Ventures Plc has announced the engagement of KPMG Nigeria, a Professional Advisory Firm to revamp and restructure the company’s organogram, aligning it with world-class best practices in the mining sector.
This was contained in the company’s notice to the Nigerian Exchange Limited seen by Nairametrics.
Fit-for-purpose organizational structure
The company noted that the primary objective of the strategic partnership with KPMG was to design a fit-for-purpose organizational structure that is in line with mining best practices and can properly support the company’s current and future business aspirations and strategy.
According to the statement signed by the Company Secretary, Micheal Edeko, the company stated that recognising the dynamic nature of the mining sector and Japaul’s evolving business aspirations, the company has selected KPMG Nigeria for their expertise in designing a fit-for-purpose organizational structure that aligns with Japual’s long-term strategic objectives.
- “The collaboration with KPMG Nigeria underscores Japaul’s commitment to ensuring that its organizational framework not only adheres to industry best practices but also facilitates the implementation of current and future business strategies.
- The collaborative effort will focus on creating an agile and efficient structure that can seamlessly enable Japual to realise its plan of securing a minimum of 100 million ounces of Gold in proven reserves, with production targeted on or before 2033,” the company said.
According to the firm, KPMG, leveraging its profound industry knowledge and extensive experience will analyse Japual’s current business landscape, assess future aspirations, and design an organizational structure that optimally supports the company’s multifaceted objectives.
- “These objectives include a plan to establish a world-class Gold Refinery in Nigeria, further enhancing Japaul’s position in the mining sector,” it said.
What you should know
Nairametrics reported recently that Japaul Gold & Ventures has reported a pre-tax profit of N695.16 million in FY 2023, representing a growth of 351% from 2022.
According to the company’s unaudited financial results for 2023, the company recorded a turnover of N2.60 billion in 2023, marking a 93% increase from 2022.
The company which is involved in Nigeria’s mining and maritime sectors, recorded a turnover of N413 million in the final quarter of 2023 (Q4 2023), which was 25% year-on-year higher than the N329.2 million recorded in Q4 2022.
The majority of the company’s revenue came from its dredging business, which contributed about 90.4%, (N2.35 billion) of the turnover in 2023. The turnover generated by Japaul Dredging in 2023 was a 100% growth from the N1.17 billion generated by the sector in 2022.
