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COVID-19: Stanbic IBTC outlines strategies for companies to stay afloat

As businesses across the globe continue to adapt to the new normal as a result of the coronavirus (COVID-19), Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has identified strategic decisions that companies need to make in order to keep their businesses afloat.

The leading full-service financial services organization advised companies and business owners to take advantage of opportunities such as the Central Bank of Nigeria’s COVID-19 Intervention Fund while also exploring digital transformation options. Other solutions proffered include engagement of legal counsels to review key issues as well as the development of customer-focused strategies to ensure the preservation of customer loyalty and brand value, amongst others.

Folake Ademiluyi, Head, Power and Infrastructure, Stanbic IBTC Holdings PLC made this known during the Stanbic IBTC Blue Talks Webinar. She stated that the companies can ensure the sustainability of their business processes by taking proactive measures needed to thrive in these uncertain times.

Ademiluyi further stated that companies to go back to the drawing board and come up with fresh ideas to sustain their businesses to avoid being adversely affected by the pandemic. “Business owners must tap into the various stimulus packages that the CBN has provided to resuscitate their businesses” she said.

Similarly, Nnenna Okoro, Head, Consumer Sector, Stanbic IBTC Holdings PLC, implored companies to leverage on digitalization to serve customers better. She noted that despite the impact of coronavirus on the nation, Stanbic IBTC has been using digital channels to serve its customers better.

She said: “Stanbic IBTC has been engaging clients constantly using digital channels. We understand the benefits of leveraging Information Technology to engage and serve customers, especially in a time such as this. Therefore, we implore companies to take advantage of digitalization to reach their customers”.

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