Business owners in Nigeria have been advised to leverage on the opportunities provided by digital technology to boost productivity, service delivery and overall performance of their organisations despite the challenges posed by the COVID-19 pandemic.
This was the submission of guest speakers at the second edition of the First City Monument Bank (FCMB) organised virtual capacity building programme for Small and Medium Scale Enterprises (SMEs) recently with the theme, “Leveraging Digital Technology & Logistics to Grow Your Business”.
The initiative, under the auspices of the bank’s free comprehensive capacity building programme, tagged, ‘Business Empowerment and Sustainability Training (BEST)’ Masterclass, put together by FCMB’s Training Academy and SME Advisory Unit, is one of the value-added offerings of FCMB to complement its efforts in the areas of lending and advisory services to SMEs.
The online seminar, which recorded over 2,016 registered participants, focused on various topics, ranging from innovation, digital technology solutions, business model opportunities and adapting to the new normal.
In his presentation on the topic, “Digital Technology Solutions for SMEs: Charting the Path to the Next Normal”, an Associate Partner with Mckinsey & Company, Mr. Chika Ekeji, said, though, COVID-19 is disrupting the structure of businesses across Africa, the continent can respond to disruptions with four actions. These are a shift in the business model, sustaining business and restoring operation’.
Another guest speaker, an Associate Director of Strategy and Economics at KPMG Nigeria, Mr. Olusegun Zacchaeus, noted that businesses, particularly SMEs, should realign their strategies to embrace the new normal caused by the coronavirus pandemic.
On his part, the Chairman of FASMICRO Group, Professor Ndubuisi Ekekwe, who was a special guest, spoke on the importance of “Innovating for Growth & Improving Supply Chain with Technology”.
Commenting on the BEST Masterclass, the Executive Director, Business Development of FCMB, Mrs. Bukola Smith, said the bank recognises the increasing role and impact of SMEs and particularly understand the impact COVID-19 might have on their operations.
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