The Managing Director Awojobi Tobi Olapite has confirmed the fact that Cloufrica International Ltd. made a 53% profit in the 2020 fiscal year, despite the pandemic and recession hit which affected many companies.
The Executive Director, Alh Afeez Azeez at an interview asserted: “The Merging with Biozat has really boosted the sales of our electrical products and has been a successful turning point for us.”
Mr Tobi said: “I have successfully ran construction, manufacturing and training business for over four years now, and it brings me joy to partake in the success of making the company a profitable one despite the pandemic hit. In business, especially construction, it is tug of war in Nigeria, if you are not strong, you get smashed. To run business, you must learn to be very prudent. I live everyday, managing and cautioning my spending “.
The company also declared liabilities from Boabab Home Tech Serv and ColtBorn Nigeria which will run into 2021 fiscal year.
It is very likely the company will be focusing on Electric Vehicle Charging Business in the coming year.