Business leaders must cultivate team innovation to sustain growth – Credit Direct CEO

Chukwuma Nwanze, the chief executive officer (CEO) of Credit Direct Finance Company Limited, a non-bank finance institution, has urged business leaders to cultivate team building to drive sustainable growth.

“To sustain growth and relevance in today’s environment, business leaders must cultivate a culture of team innovation and adaptability,” Nwanze said during a panel session on ‘Leadership and Partnership: Driving Value in a Challenging Economy,’ at the 10th edition of the BusinessDay CEO Forum in Lagos.

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The BusinessDay CEO Forum, is an annual conference organised in collaboration with McKinsey & Co., which serves as a platform for top executives and government officials to discuss key economic issues.

The forum draws over 200 CEOs from Nigeria’s leading companies, facilitating extensive dialogue and strategic insights aimed at shaping the nation’s economic landscape.

However, in sharing insight about navigating economic challenges and the work the company is doing, he underscored the critical importance of resilience and innovation for business leaders navigating Nigeria’s challenging economic terrain.

Highlighting the imperative need for forward-thinking strategies amidst increasing market volatility, Nwanze outlined actionable approaches that businesses can adopt to foster continuous reinvention.

“Leaders must extend their vision beyond traditional boundaries and embrace emerging technologies and evolving consumer behaviors,” he said, while emphasising the necessity for continuous adaptation to technological advancements and economic trends to effectively meet consumer demands and function competitively in the commercial arena.

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He further harped on the disruptive impact of technological advancements, urging Nigerian business leaders to integrate innovative practices into their operational frameworks.

Reflecting on his tenure at Credit Direct, where he has bolstered the company’s stature as a profitable finance entity within the FCMB Group, Nwanze stressed the role of leadership in nurturing an environment conducive to creative problem-solving.