Today we begin a serialization of the success story of Red Star Express, the budding Nigerian logistics and supply-chain services provider quoted on the Nigerian Stock Exchange
When on October 12, 1992 a few young Nigerian courier professionals, headed by Mazi Sonny Allison and assisted by Olorogun Eddy Olafeso and Mr. Patrick Nwosu, launched their indigenous courier brand, Red Star Express (RSE), to compete in a market dominated by globally tested and trusted firms like UPS and DHL, few gave them a chance of survival.
Coming at the time when the socio-economic landscape of Nigeria was very uncertain and troubled with the then military government’s democratic false starts, Red Star Express clearly came to fish in troubled waters.
But the young minds were determined and showed they were made of sterner stuff. Today, immersed in a frenzy of preparations for its silver celebration, Red Star Express is clearly a success and has reasons to celebrate.
Success Milestones
A look at the major events that shaped this logistics octopus tells why it is succeeding in the face of Nigeria’s challenging economic climate.
1992
- Recruitment of employees
- Agreement for the leasing of vehicles from Hyperon Investment & finance Limited concluded.
- Delivery of 44 four-wheel and 41 two-wheel vehicles from Hyperon.
- Commencement of operations on October 12 with its National headquarter at 41/42 Ewu Road Mafoluku Lagos.
1993
- Commencement of business with TNT Skypak for the delivery of international packages,
- First-anniversary celebration.
- Launching of Red Star CASH CARD.
- Partnership with Saga Express (Now Bollore) for the delivery international heavyweight packages in Nigeria.
1994
- The signing of Agreement as the licensee of FedEx Express for Nigeria on December 12.
- FedEx operation and Global Service Participant (GSP) training in Lagos Nigeria.
- Visit of FedEx representatives from Europe, Middle-East and Africa region headquarters (EMEA) Belgium.
- Attainment of 1000 domestic shipments average per day.
1995
- Appointment of Mr. Tonye Ofuani as Managing Director and Chief Executive Officer after the departure of the founding executive management.
- Relocation of its Headquarter to No.1 Murtala Mohammed International Airport Road Lagos.
- Procurement of its own corporate headquarter property at No 70 Murtala Mohammed International Airport Road Lagos.
1997
- Appointment of Mr. Isaac Orolugbagbe as Managing Director and Chief Executive Officer.
1999
- Official visit of Bernard Mercier, Executive Vice President of FedEx EMEA region on relationship consolidation and appreciation tour.
2001
- Signed Mailroom Management Services agreement with Guaranty Trust Bank Plc.
- Creation of RSE Communication and RSE Home-Shopping subsidiaries.
2002
- Purchase of 41/42 Ewu Road Mafoluku Lagos property, where it began operations and establishment of world-class operations hub.
- 10th Year Anniversary Celebrations.
- Awarded 1SO 9001 certification for consistent reliable service.
2003/2004
- Strategic conference on the formation of Vision 2008.
- The launch of Red Star Foundation.
- Procurement of its own property in Port Harcourt and establishment of Regional operations hub.
2007
- Extraordinary General Meeting authorizes conversion to a public company.
- Listed on the Nigerian Stock Exchange as Red Star Express PLc.
- Red Star Freight, a new subsidiary was created and commenced operation.
- Appointment of Mr. Sule Bichi as Managing Director and Chief Executive Officer.
2008
- Creation of Red Star Logistics and Red Star Support Services subsidiaries.
- The 20-year lease of commercial land for the construction of a warehouse in Mafoluku Lagos.
- Extension of Red Star Foundation programme to the Northern and Eastern regions through an endowment.
2010
- Adoption of Vision 16:16:15 Strategy.
2011
- The launch of ‘I Care’ CSR project, an initiative for the less privileged.
2012
- Celebrated 20th Anniversary.
- Launched the book on ‘Inspiring Growth – the history of Red Star Express’ authored by Miss Ejine Nzeribe, founding Company Secretary.
2014
- Launched Customer Address Verification Service.
- Launched Red Star Ship Manager, its robust logistics software.
- Changed envelope packaging flyer to biodegradable to comply with eco-green’
2016
- Introduction of group structure’
- Appointment of Mr. Shola Obabori as Group Managing Director and Chief Executive Officer
2017
- Approval of holding company structure
- 25th Anniversary (silver jubilee) celebration
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Indeed, the story of Red Star Express is that of consistent achievements and successes, which came as a result of its offering reliable services to its rapidly growing customer base over the years.
Next, we will look at the services that deliver peace of mind from the stable of Red Star Express.
[Sponsored News] With reports from Casandra Aniemeke and Chile Egekwu
