PHCCIMA Member Organizations, ‘The Promise Fast Food & RSSDA’ Partner To Raise New Entrepreneurs, Create Employment
In furtherance of efforts aimed at raising new entrepreneurs and fight rising cases of unemployment in our various communities, two key member organizations of the Port Harcourt Chamber of Commerce, Integrated Catering Services, brand owners of 'The Promise Fast Food', a leading fast food brand in Rivers State and the Rivers State Sustainable Development Agency, RSSDA has signed the second phase franchise agreement for establishment of 'The Promise Fast Food' outlets in various communities in the state with a view to consolidate on the success of the first phase.
Speaking in a colourful ceremony to herald the signing, Managing Director of Integrated Catering Company Limited, Pastor Oluwatoyin Alabi said it is the expectation of the management of Integrated Catering Company Limited that the second phase of the agreement will lead to the establishment of more outlet for the greater reach, empowerment and good of other communities to increase the gains of the first phase. Alabi explained that the first phase of the Franchise Agreement between the Rivers State Sustainable Development Agency (RSSDA) and The Promise Fast Food has generated a total sales of N1.5 billion in the last five years.
The agreement signed in 2009 according to him led to the establishments of The Promise Fast Food outlets in Bori, Omoku, Elele, Eleme and Ahoada.
According to him, a cursory review of the results of the five outlets, has shown consistent annual profits with cumulative net profit as at December 2013 standing at N225 million, the creation of 200 job opportunities as well as the setting up of SMEs through progressive graduation of 28 beneficiaries with over N74 million start-up capital.
He said that the situation is having a lasting and unquantifiable impact on the livelihood of families, and curbing of youth restiveness due to meaningful engagement of the army of the unemployed in these areas.
In his welcome address, the Executive Director/Chief Executive Officer of the Rivers State Sustainable Development Agency (RSSDA), Mr Noble Pepple, said that the programme which started in 2009 was in line with the Rivers State Governor, Rt. Hon. Chibuike Rotimi Amaechi's pledge to make 147 Rivers youth millionaires.
Pepple said that it was the governor's vision that has been translated into the Franchise Agreement with The Promise Fast Food.
He said that the five outlets have led to the creation of 35 entrepreneurs in Rivers State, out of which 28 have established their own business, stressing that the scheme will last for ten years.
President of the Port Harcourt Chamber of Commerce Industry Mines and Agriculture (PHCCIMA), Engr Emeka Unachukwu, in his remark described the scheme as the best thing that has happened in Rivers State.
He said as a body, part of PHCCIMA's cardinal objective is to stimulate the local economy and ensure that businesses thrive. He assured that the chamber will invest in the scheme to complement the effort of the two bodies. Unachukwu said the chamber is proud of the giant strides of the two chamber members and for contributing their quota to reduce unemployment and poverty while raising new entrepreneurs.
He said PHCCIMA will continue to open vistas of opportunity for its vast retinue of membership to leverage and achieve their objectives.