Official Signing Ceremony of the Franchise Agreement between RSSDA and Integrated Catering Company Limited (The Promise Fast Foods) for a Multi-Unit Purchase of The Promise Franchise - 28th of March, 2014

In furtherance of efforts aimed at raising new entrepreneurs and fighting unemployment in various communities in Rivers State, the Rivers State Sustainable Development Agency (RSSDA) and Integrated Catering Company Limited (ICCL), brand owners of The Promise Fast Foods, have signed the second phase franchise agreement for establishment of The Promise 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, the Managing Director of Integrated Catering Company Limited, Pastor Oluwatoyin Alabi, said it is the expectation of the management of ICCL that the second phase of the agreement will lead to the establishment of more outlets for greater reach, and empowerment of other communities, to increase the gains of the first phase. Mr. Alabi explained that the first phase of the Franchise Agreement between RSSDA and The Promise Fast Foods has generated a total sales of N1.5 billion within the last five years.

The agreement signed in 2009, according to him, led to the establishments of The Promise 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 the progressive graduation of 28 beneficiaries with over N74 million start-up capital.

He said that the situation has had 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 pledge of the Governor of Rivers State, Rt. Hon. Chibuike Rotimi Amaechi, to make 147 young people of Rivers State millionaires. Mr. Pepple said that it was the governor’s vision that has been translated into the Franchise Agreement with The Promise Fast Foods. He said that the five outlets have led to the empowerment of 35 entrepreneurs in Rivers State, out of which 28 have established their own businesses, adding that the scheme will last for ten years.

President of the Port Harcourt Chamber of Commerce Industry Mines and Agriculture (PHCCIMA), Engr. Emeka Unachukwu, 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 everyone that the Chamber will invest in the scheme to complement the efforts of the two bodies. Unachukwu said the chamber is proud of the giant strides of the two chamber members 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.

 

 

 

The Promise - we do nothing but good food