- Prof. Evans Osabuohien
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To Enjoy Sustainable Growth, We Need Continuous New Critical Thinking
Professor Evans Osabuohien attended a 2-day workshop on Sustainable Microfinancing, Cybersecurity and Data Protection organised by the National Association of Microfinance Banks (NAMB), Ogun State Chapter, held on 2nd and 3rd February 2023. The workshop was organised in conjunction with Better Ways Limited. As a member of the Board of Directors at Covenant Microfinance Bank (CMFB), he was a representative during the workshop. His participation was pivotal, given that he currently serves as the Chair of the Board IT Committee, poised at enhancing service provisions through optimising digital platforms.
The first session focused on establishing the objective of the workshop, which captured the need to equip corporate leadership of microfinance banks with skills for profitable and sustainable microfinancing in developing economies. The session was led by Dr Victor Dare (the General Managing Director of Better Ways Limited), who emphasised the importance of planning, curating a vision, goals, and targets for microfinance banks. He also noted the relevance of corporate governance, as well as the duties of the Board of Directors towards sustainable growth. Furthermore, the relevance of customer acquisition, expansion, retention, and loyalty were highlighted as fundamental elements in achieving sustainable growth in microfinancing. The above goal can be achieved through product development, quality delivery, and customised marketing of products and services tailored to meet the expectations of stakeholders.
Conclusively, it is important to adapt to change, knowing that change is constant, to avoid being stunned by new and constant changes such as the new currency redesign and attendant cash dearth in Nigeria being referenced during the workshop. Hence, a focus on organic and exponential growth is expected of the players in the financial sector, which applies to other sectors.
According to Prof Evans Osabuohien, a significant takeaway from the event was the emphasis on the five interrelated systems fundamental for sustainable business growth. They include: Sight System (the power of the eye and the mind), Mental System (being intentional in putting energy into what is essential); Work System (turning ideas and goals into results), Value System (generating success from work because people pay for value, not just work); and Review System (no cruising level in business, so continuous improvement through evaluation is vital).
Professor Evans Osabuohien related outing is online.