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Embrace Digital Technology, Elumelu Tells Students, Young Professionals

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Tony Elumelu
  • Embrace Digital Technology, Elumelu Tells Students, Young Professionals

The Chairman of United Bank for Africa (UBA) Plc and Heirs Holding, Mr. Tony Elumelu, has stressed the need for students and young professionals in the financial services sectors to update their knowledge and embrace modern technology.

This, he said would enable them remain relevant and succeed in the profession.

Elumelu, said this while delivering a paper at the 2019 Annual Lecture of the Faculty of Management Sciences, University of Lagos, Ojo Campus, with the topic, “The Future of Finance –Technology at Play.”

The UBA chairman who was represented at the occasion by the Executive Director, UBA, Mr. Ayoku Liadi, told the students that the, “key to continuous relevance is staying awake and staying disruptive.”

He said: “I usually consider it a great privilege to address young innovative minds, especially in a reputable institution of learning like Lagos State University.

“The reason is because it is a rare opportunity to address or contribute to ‘the future.’ The future is here and you are the future!

“However, I will like you to note certain points that may shape the future of someone here today. The key to continuous relevance is staying awake and staying disruptive.

“Therefore, ‘Stay Awake! Stay Disruptive!!’ What does it mean to stay awake and to stay disruptive? It means to: Always be on the cutting edge of knowledge and emerging innovations in the marketplace.

“Constantly seek better, easier, more effective and perhaps, cheaper ways of doing things. Never, never, accept the status quo. Have a learning mindset, one that is ready to embrace changes no matter how ‘sudden, rude, unexpected or uncomfortable’ those changes might be.

Elumelu added: “Remember, the only constant thing in this fast-paced world is change. The future you will experience is one of your creation, imagination, vision and exposure.

“You may not be able to see the future; but with the right insight, you can prepare for it. This means the future favours only the prepared.

“Think ‘GLOCAL’ – have a global outlook towards life, while not neglecting local considerations. Keeping pace with changing technology is the number one initiative that the finance function must embrace in today’s fast-changing world.”

While emphasising the need to build finance and banking professionals that would meet the demands of the finance function of the future, Elumelu advised the academia on need to graduate from imparting traditional technical accounting and finance skills, to embracing modern technologies in the delivery of skills needed to build a global finance professional of the future.

According to him, “as finance graduates and professionals, we need to be aware that it is no longer business as usual, and with the fast-changing landscape, it will never be business as usual.

“Traditional knowledge of finance is getting stale in today’s business world and indeed there is dire need for retooling our skills if we must remain relevant in tomorrow’s financial world”.

Earlier in his remark, the Chairman of the occasion and Executive Secretary, Institute of Entrepreneurship, Dr. Rotimi Oladele, described the topic of the lecture as “apt and a round peg has been fitted into the round hold.”

“For me, I see the future as where the air will replace currency, coins, cheques, ATM/Cards, teller, invoice, receipt and whatever. All that is needed will be keyboarding. Once you have your codes, you press buttons and buy or sell or deposit or withdraw,” he added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Appointments

Standard Bank Appoints Sanni Chief Executive for Africa

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The Standard Bank Group, Africa’s largest bank by assets has appointed Yinka Sanni as its new Chief Executive for Africa Regions and a member of the Group Leadership Council.

Sanni, the group’s Regional Chief Executive for West Africa, takes over from Sola David-Borha, who is retiring after 31 years of service to the banking group.

This was disclosed in a statement.

Sanni holds a B. Agric. (Hons) degree in Agricultural Economics from the University of Nigeria and an MBA from Obafemi Awolowo University. He attended the Advanced Management Programme at Harvard Business School in 2009, and the Global CEO Programme at the Wharton School in 2017. He has over 30 years of experience in the financial sector across wholesale, retail and asset management, and joined Standard Bank Group’s Nigerian subsidiary, Stanbic IBTC Bank Plc, in December 1990.

In a note to employees, Standard Bank Group CEO, Sim Tshabalala, congratulated Sanni on his appointment and thanked David-Borha for her extraordinary contributions to the group.

“Sola was appointed as the Chief Executive of Africa Regions in January 2017 and is one of the group’s most deeply expert and experienced bankers,” Tshabalala said.

“Under her leadership, the Africa Regions portfolio has grown remarkably in capacity, market share and contribution to the group’s headline earnings.”

David-Borha has been a passionate advocate of culture change and executive leadership development, having sponsored the ‘Last Mile’ programme, which has resulted in the successful promotion of talented people into both Regional Chief Executive and Country Chief Executive positions, including the appointment of two female Chief Executives in the Africa Regions business.

“It has been a great honour and privilege to serve and contribute to the growth of the Standard Bank Group,” David-Borha said.

“I am delighted to be handing over to Yinka Sanni, an exceptional, authentic and experienced leader who will take the baton forward in driving Africa’s growth.”

David-Borha will remain with the group until the end of June to ensure a successful leadership transition and handover process. Sanni’s appointment is effective from today, 15 April.

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Experts to Provide Insights on Tech & Digital Transformation at MSME Dialogue 3.0

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msme dialogue - investorsking.com

The third edition of MSME Dialogue will take place on Saturday, April 24, 2021 at 10am (WAT). Experts at the virtual event will provide insights while discussing the theme: Powering MSMEs with Technology and Digital Transformation.

The event, which is organized by MSME Africa, is expected to have owners and managers of Micro, Small and Medium Enterprises, Entrepreneurs and Business owners from different sector in attendance.

MSME Dialogue which holds every quarter, seeks to address, burning and relevant  issues about entrepreneurship and running a small business as well as proffering solutions to those issues.

The event aims to provide the right knowledge and know-how for MSMEs, Entrepreneurs, and Startups to enable them to grow and thrive and features subject matter experts, seasoned entrepreneurs, professionals, and players within the MSME Ecosystem.

The speakers expected at the event are: Akeem Lawal, Divisional CEO, Interswitch Group, Rex Mafiana: CEO, FPG Technologies, Fatma Nasujo, Global Head of Operational Excellence at Sokowatch, Kenya, David Lanre Messan, CEO, FirstFounders, Bisoye Coker, CEO/Co-founder, Kiakia FX. The session will be moderated by Solape Akinpelu: CEO/Founder, HerVest.

According to the convener of the event who is also the founder of MSME Africa, Seye Olurotimi “Every business owner who is serious with their business would agree with me that technology and digital transformation are important factors for business growth and success. We all can’t all run or won Tech startups but we can always drive our businesses and operations with Technology and Digital Tools”

“Tech-driven Businesses are making waves and turning in almost unbelievable results against all odds. Businesses who have embraced technology, automation and digital transformation are enjoying unquantifiable advantages. It is because of this that I am calling on business owners and managers to join us at the 3rd Edition of MSME Dialogue, on Saturday April 24, 2021 at 10am ( WAT), as we bring in experts to provide insights on this theme” Olurotimi added.

MSME Africa is a multi-faceted resource platform for Micro, Small, and Medium Enterprises (MSME) in Africa providing capacity development, news, opportunities, business articles and other resources for MSMEs, entrepreneurs, and startups.

Olurotimi said the platform was poised to build the biggest network and community of MSMEs in Africa in the nearest future.

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Ericsson Launches Automation Hub in Nigeria

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Ericsson

Ericsson announces plans to create an Automation Hub in Nigeria to support operators for improved consumer experience.

Ericsson Automation Hub is an open innovation platform, inspired by lean startup methodology in which the Ericsson team works in close dialog with customers, users and partners to showcase and reach the high potential that network automation allows in configuration, provisioning, assurance and orchestration of network services.

This will enable service providers to gain the ability in their environments to govern, manage and orchestrate hybrid networks holistically and in real time and as a result, offer an enhanced consumer experience.

Fields to be covered include but not limited to 5G and Internet of Things (IoT) use cases, Network Slicing and Orchestration, Hologram Calls, Complex Standalone, Business Support System (BSS) and Operations Support System (OSS), Cloud and Core product cases, Automated Acceptance Tests demonstration and enhancements as well as complex charging scenarios for 5G and 4G networks.

Lucky La Riccia, Vice President and Head of Digital Services at Ericsson Middle East and Africa at Ericsson says: “As Industry 4.0 accelerates in Africa, automation in operations is proven to boost customer experiences. Ericsson continues to support the telecom industry players in setting #AfricaInMotion, and with the Ericsson Automation Hub in Nigeria, we will focus on driving business outcomes for our partners in Africa as they aim to leverage digital transformation to turn complexities into opportunities while offering a greater experience and value to consumers.”

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