Edward Akinlade, group managing director of Haldane McCall PLC, recently outlined the company’s capital strategy and approach to shareholder returns, highlighting a dual growth model that combines recurring hospitality income with strategic residential developments.
“Even as we expand into West Africa, our priority remains delivering predictable returns for shareholders,” Akinlade said, describing the group’s expansion as measured and risk-aware.
Akinlade cited the successful leasing of 48 apartments in Porto-Novo, Benin Republic, as evidence of regional demand and proof that disciplined project execution is delivering tangible results. “This is a key milestone, demonstrating that our phased expansion and disciplined project execution generate tangible results,” he added.
The company has also rolled out a N250 billion debt programme, structured in tranches to match project cash flows and mitigate borrowing risks. A complementary rights issue is designed to encourage shareholder participation and reinforce capital efficiency.
Hospitality remains a cornerstone of the group’s recurring revenue strategy. “Our Suru Express Hotels portfolio continues to grow occupancy and earnings, giving us recurring revenue that underpins dividends,” Akinlade noted. These stable cash flows allow the company to sustain a dividend payout policy of 30 per cent of net profit.
On the residential side, projects such as Majidun Estate in Ikorodu, alongside completed developments in Ketu, Lagos, and Porto-Novo, form the backbone of the company’s long-term value creation strategy. Haldane McCall is also exploring selective opportunities in Ghana and Benin Republic, signalling a cautious but strategic regional expansion.
By combining hospitality with phased residential projects and disciplined capital allocation, Haldane McCall seeks to balance growth with predictable returns, providing shareholders with both steady income and potential long-term appreciation.
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