BUA Foods Plc, renowned for its popular brands like IRS Pasta, BUA Sugar, IRS Flour, and BUA Rice, has been named the 2024 Company of the Year at CNBC’s prestigious All Africa Business Leaders Awards (AABLA) held in South Africa. This remarkable achievement makes BUA Foods the first Nigerian company to receive the coveted Company of the Year award in the 12-year history of AABLA, Africa’s foremost business recognition platform that celebrates excellence across the continent’s corporate landscape.
The announcement came just hours before BUA Foods was also honored as the Most Valuable Indigenous Food Company at the 2024 BrandCom Awards in Lagos. In September 2024, BUA Foods earned the title of Customer-Centric FMCG Corporate Brand of the Year from Marketing Edge, while IRS Premium Wheat Flour was named Premium Brand of the Year by Media Consortium. These accolades highlight the company’s transformative role in the African food industry and its unwavering commitment to sustainable growth and food security.
In his acceptance speech at the AABLA ceremony in South Africa, Engr. Ayodele Abioye (PhD), Managing Director of BUA Foods, expressed profound gratitude for the recognition, stating, “We are deeply honored to be named Company of the Year. This award is not just for BUA Foods; it is for the entire African food industry. It reflects our collective efforts to tackle challenges such as food security and to drive economic development across the continent.”
Dr. Abioye further emphasized the company’s strategic global expansion, noting that just a month prior, BUA Foods had entered into agreements with leading Italian and Turkish firms to scale its pasta and wheat production to 900,000 metric tonnes and 2.5 million metric tonnes per annum, respectively. These partnerships position BUA Foods to become the largest milling company in Nigeria by 2025 and potentially the largest in Africa in the near future.
“We are committed to feeding Africa and contributing to the region’s growth. This recognition strengthens our resolve to continue exploring new markets, forging strategic partnerships, and investing in innovative technologies that will elevate the African food industry to new heights,” Dr. Abioye added.
He also expressed appreciation to the award organizers, BUA Foods’ stakeholders, and the dedicated employees whose trust, loyalty, and hard work have propelled the company’s success.
BUA Foods’ continued focus on sustainability and community empowerment reinforces its role as a key player in shaping the future of Africa’s food sector, contributing to job creation, economic development, and the region’s long-term food security.
As the company looks to the future, BUA Foods remains committed to pushing the boundaries of innovation and excellence, with a firm focus on improving the lives of millions across Africa.
