High-net-worth business leaders and individuals convened at the 15th edition of BusinessDay CEO Forum to discuss strategies for navigating the prevalent turbulent economic times at the heart of Nigeria’s commercial capital, Lagos. The event was in association with PricewaterhouseCoopers (PwC) and served as a crucible for innovative thinking and visionary leadership.
The CEO Forum Nigeria 2024 brought together over 200 CEOs, leaders, and business executives. This year’s forum, themed, “Leadership in Tough Economic Times,” featured a stellar lineup of speakers, panel discussions, and premium networking opportunities, providing attendees with invaluable insights and practical strategies for navigating the current business landscape.
One of the speakers who led the dialogue was Chukwuma Nwanze, MD/CEO of Credit Direct Finance Company Limited (Credit Direct), the consumer finance arm of FCMB Group. Nwanze’s message was clear and resonant: in the face of adversity, innovation and resilience are not just beneficial – they are essential.
“Leaders must extend their vision beyond traditional boundaries by continuously adapting and incorporating effective and efficient methods to take their businesses forward” Nwanze emphasised during a panel discussion on “Leadership and Partnership: Driving Value in a Challenging Economy.” His words cut to the core of what it means to be a visionary leader in today’s rapidly evolving business landscape.
Credit Direct, stands as a testament to this philosophy. As one of Nigeria’s leading FinTech and consumer finance companies, it has leveraged AI-driven credit decisions and digital channels to expand nationwide. “We consistently innovate to build products that solve our customers’ problems,” Nwanze stated, underscoring the importance of customer-centric solutions in driving growth.
The sentiment was echoed by other panellists, including Ayotunde Coker, CEO of Open Access Data Centres Limited. Coker highlighted the transformative power of technology, particularly broadband development, suggesting that a 10 per cent increase could boost Nigeria’s economic growth by 2.5 per cent.
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Central Bank of Nigeria Governor Olayemi Cardoso, conversing with Frank Aigbogun, publisher/CEO, of BusinessDay Media Limited at the fireside chat, reinforced the importance of credibility and resilience in the banking sector. “It is essential for businesses to build genuine credibility,” Cardoso stated, outlining the CBN’s focus on developing a stronger, more resilient banking system.
The forum, which drew attendees from Nigeria’s leading companies and government officials, including Femi Hamzat, deputy governor of Lagos representing the Governor of Lagos State, Babajide Sanwo-Olu served as a microcosm of reflecting how leaders are dealing with the broader challenges and opportunities facing Nigerian businesses. The consensus among these visionary leaders was clear: embracing technology, fostering innovation, and adapting to change are crucial for survival and growth in these challenging times.
As Nigeria stands at an economic crossroads, the insights shared at the BusinessDay CEO Forum offer a roadmap for visionary leadership. The message is one of proactive strategy, technological embrace, and unwavering resilience. In the words of Nwanze, it’s about “optimising and scaling significantly” in the face of adversity.
The path forward for Nigerian businesses may be fraught with challenges, but with visionary leadership at the helm, there is a sense of cautious optimism. As these industry leaders return to their respective organisations, the true test of their vision will lie in translating these insights into tangible results, steering their companies and by extension, the Nigerian economy towards a more resilient and prosperous future.
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