Pandemic Accelerating Digital Transformation, Says RMB Boss

The Chief Executive Officer of RMB Nigeria and the bank’s Regional Head for West Africa, Mr. Michael Larbie, has said the Covid-19 pandemic has compelled individuals and organisations to adapt to a new world order.

This, he said was expected to accelerating digital transformation in Africa as well as other regions.

Larbie, said this in his opening remark on the first day of ongoing four-day webinar in RMBN’s Economic and Business Conference.

The second session is expected to hold today. The conference brought together policy-makers and industry experts to share guidance on how to navigate a rapidly changing business landscape.

The first session was moderated by Professor Olayinka David-West, Academic Director Lagos Business School (LBS).

The webinar dimensioned how businesses can be agile in the face of change to create customer-centric and digitally savvy solutions as they respond to current challenges and prepare for the future.

The panel brought their unique insights on how to digitise businesses on a practical and strategic level.

The Head of Consulting, Agusto Consulting, Jimi Ogbobine, provided a macro-economic perspective on the impact of the virus on both the global economy and Nigeria.

According to Ogbobine, despite the economic headwinds of Covid-19, the lockdown accelerated e-commerce as businesses and consumers have moved online.

Also, the General Manager, Enterprise Marketing, MTN Nigeria, Onyinye Ikenna-Emeka, said telecoms infrastructure needs to be in place for digital businesses to be sustained in the long term.

She confirmed that a great deal of work and investment has gone into preparing the telecoms sector to support the development of the Nigerian economy.

According to her, it was critical for telcos to transform themselves if they wish to remain relevant.

“This means finding ways to become a value-added service provider. They need to relook customer journeys, define mobile-first strategies and move to platform services.

“The customer is at the heart of this, and the key to understanding the customer is by keeping a finger on the pulse of customer data,” she explained.

On his part, the Founder & CEO of Flutterwave, a payments technology company, Olugbenga Agboola, reemphasised the shift to digital business. He defined digital transformation as a complete shift that incorporates delivery, logistics and commerce, to execute services on digital platforms. Businesses were forced to transform because of COVID 19, which means Nigeria is five years ahead in technology terms across multiple sectors.

CEO & Founder, Qucoon, a fintech, digital strategy and consulting firm, Yinka Daramola, stated that digital needs must become a way of life.

“Every business sector is experiencing a transformation led by technology,” he said, emphasising that business leaders have felt the positive impact, cost-saving and efficiencies brought on by digital transformation.

“The new normal is constant change. Businesses need to choose their partners based on their ability to support agility and security,” he added.