Metrofile: Site secured for first Nigerian branch

Time of article published Aug 23, 2013

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Metrofile’s new branch in Nigeria would have a significant impact on long-term financial performance, chief executive Graham Wackrill said yesterday. The JSE-listed information and records management firm said it had secured premises for its first branch in Nigeria’s Isolo Estate in Lagos. South African-born Glenton Swift, who has lived in Nigeria for seven years, has been appointed general manager. The market did not seem to welcome the news as Metrofile shares declined 0.97 percent to close at R5.10 yesterday. “The potential for growth is significant, as no other company currently offers a similar service… however, it is clear from organisations we have already engaged with that there is a keen desire to do things properly in terms of compliance and corporate governance,” Wackrill added. Metrofile Nigeria can store 80 000 boxes of documents and will in future also offer scanning, data protection and active filing services. – Asha Speckman

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