Experts site innovation, persistence, regular assessments, key for lasting businesses

As part of activities to commemorate its 75th anniversary, Africa’s Global Bank – United Bank for Africa (UBA) Plc, has held a special edition of its quarterly Business Series with the aim of boosting business sustainability, especially for its customers who run Medium and Small-Scale Enterprises (MSMEs).

This edition of the UBA Business Series was held at the Tony Elumelu Amphitheater in UBA House on Thursday with the theme: “Built to Last: Building Generational Businesses”, and at the event, veteran businessmen and Chief Executive Officers from various fields of business shared valuable insights on how SMEs can run profitable ventures that will stand the test of time.

Professionals who have run businesses for several years including Veteran Stand-up Comedian/CEO XQZMOI Television, Atunyota Ali Akpobome (Ali Baba); Creative Photographer, Kelechi Amadi-Obi; CEO, Diaryofakitchenlover, Omotolani Tayo-Osikoya (Chef T); and CEO, Melvin Marsh International Ltd from Kenya, Flora Mutahi, took time to explain how passion, creativity and evolution are important if businesses are to last and remain relevant in the future.

“As a business owner, you need to come up with ways to ensure that you stay on top of your game and remain relevant, this is where creativity comes in, you need to study the sector where you operate and come up with ways to bring dynamism to your business,” Ali Baba said.

On her part, Chef T advised SMEs to continue to look for ways to stand out in their businesses; “You need to figure out your differentiating factor, it is about knowing what your customers expect of you and finding a way to achieve that,” she stated.

Speaking on his winning strategies, Kelechi Amadi-Obi, said, “My goal has always been to make an impact, first for myself and then for the client, because, I believe that your product is a function of your creativity, therefore you need to evolve.”

Flora Mutahi, who joined virtually from Kenya, admitted that indeed Africa has great potential to harness the entrepreneurial spirit that has become a revolution, and thus emphasised the need for persistence in growing a brand that lasts.

UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, who appreciated the professionals for the insightful business tips, remarked that as a thriving global financial institution with operations across 20 African countries and four business nerve centres including US, UK, France and UAE, UBA which in itself has lasted over seven decades focuses on empowering other business owners to build sustainable businesses.

“At UBA, it is not just about Banking, we are also passionate about helping our customers to grow thriving businesses, and that is why we do this on a regular basis. I therefore commend these professionals who have taken time to come and share insights on building sustainable businesses. I know we have learnt a lot, and this will go a long way for all of us,” he explained.

The UBA Business Series is a regular seminar/workshop organised by the bank as one of its capacity-building initiatives, where leading business leaders and professionals share well-researched insights on relevant topics and best practices for running successful businesses, especially in difficult business challenges.