Nigeria, Africa’s largest market, is rich in natural and human resources. Yet, the country faces challenges which have hindered it from leveraging opportunities to achieve sustained economic growth and shared prosperity for its people.
Our CEO and Founder, Amal Hassan joined other panellists, Dr. Adesola Adeduntan, CEO, FirstBank Nigeria; Kola Masha, Founder/Managing Director, Babban Gona; and Obi Ozor, co- Founder/CEO, Kobo360 to discuss the theme ‘Looking beyond COVID-19: Opportunities on the Horizon, Leadership in Focus.’ at the virtual launch of the Nigeria Country Private Sector Diagnostic.
The opening remark was made by the Honorable Minister of Finance, Budget and National Planning, Dr. Zainab Shamsuna Ahmed, and IFC’s VP for Economics and Private Sector Development, Hans Peter Lankes while the panel was moderated by Eme Essien Lore, Country Manager for the International Finance Corporation’s (IFC) Nigeria.
@FinMinNigeria
at the virtual launch of the #Nigeria Country Private Sector Diagnostic. #NigeriaCPSD
The panellists addressed a series of questions about Nigeria’s private sector, including how their organizations responded to the COVID situation, challenges holding back Nigeria’s private sector, challenges deepened by the COVID-19 pandemic as well as leadership challenges during the pandemic. As competition becomes more intense in the global space, investors or partners tend to depend more on a country’s reputation than on its actual attributes in making business and investment decisions.
Amal noted that Outsource Global has proven to her international clients and partners, she can deliver even during the global pandemic. “We launched financial operations, Artificial Intelligence (AI), among other processes which were not in place pre-COVID era and constantly exceeded our clients’ expectations. Amal said, Outsource Global success during COVID-19 pandemic has given her reassurances that Nigeria is the leading Outsourcing destination.”
Responding to the question about leadership challenges she faced during the COVID-19 pandemic, Amal noted employees safety, implementing a remote work structure to keep serving her local and international clients, and building trust and efficiency were the challenges faced during the period. She also highlighted the need to increase Nigeria’s market share in the business and knowledge process outsourcing space. Eme Essien Lore, IFC Country Manager for Nigeria, said, “Nigeria’s private sector is among the largest in Africa and plays a critical role in providing goods, services, and quality jobs to the country’s growing population.
Addressing the challenges holding back Nigeria’s private sector — challenges deepened by the COVID-19 pandemic — will be critical to the country’s goal of lifting 100 million Nigerians out of poverty by 2030. Through the CPSD, IFC, and the World Bank have identified
policy actions and interventions that can help unlock investment and jobs.”
Kelvin Njirai, Regional Director Southern Africa & Nigeria, IFC surmised by identifying four key points from the conversation with the Panelists, they include; Agility, collaboration, Learning and branding as pertinent factors in launching the Nigerian Country Private Sector Diagnostic.
IFC and the World Bank have also published a COVID-19 Rapid Assessment alongside the Nigeria CPSD. The rapid assessment provides insights for stakeholders on accelerating Nigeria’s recovery from the impact of the pandemic.
