The Chief Executive Officer of MTN Mobile Money Company Limited, Eli Hini wants businesses to adapt to changing trends in technology in their operations.
Speaking in the first series of fora as part of this year’s Citi Business Festival, Mr. Hini said businesses willing to resort to new forms of technology in their transactions are more likely to thrive.
“There will be winners and gainers in every situation, and what happens is how businesses adapt to changing trends [of technology]… Once you do not get on, you lose out.”
Citing an example to establish his point, Mr. Hini said MTN’s decision to digitalise money transactions through the introduction of mobile money has yielded diverse benefits for the company.
“When we started mobile money, we started not because we were ready. It was what was happening, and we had to get along with it,” he explained.
Dr. Hini also touched on strategies that are central to positioning businesses as “market leaders.”
He believes businesses need to adopt the three strategies of innovation, investment and channels to stand out.
While he believes innovation plays a key role in meeting the changing trends of consumers’ interest and demands, he posited that channels are necessary for reaching the customers.
“Innovation is important. Investment is equally important. If you do not invest, you will not get the technology and customer interest.”
The forum forms part of Citi FM/Citi TV’s annual month-long Citi Business Festival, which seeks to shape businesses.
The Citi Business Festival is an extensive program of business events and on-air activities providing inspiration, business ideas, and information to persons who are starting, building, or growing their businesses.
The forum’s theme, which was on the topic, “Re-imagining the Digital Economy” explored the possibilities for business in the new business ecosystem as the world approaches the fourth industrial revolution, which is driving changes in the new digital economy.
It was hosted by Kokui Selormey-Hanson with other panel members from the Bank of Ghana, IT Consortium and ABSA Bank.
Later in the week, two other topics; “Transforming business using digital technology” and “Understanding the mobile finance ecosystem” will also be discussed.
The entire month of June is dedicated to business on Citi TV and 97.3 Citi FM.
The On-air series of the Citi Business Festival will air on the Citi Breakfast Show on 97.3 Citi FM every weekday.
There will also be business fora live on Citi TV every Tuesday from 11:00 am to 1:00 pm.
For the 2022 edition, the themes outlined during the period are as follows:
Week 1: Re-imagining the Digital Economy
Week 2: Resetting your SME after COVID-19
Week 3: The Ghana Opportunity
Week 4: Consumer Markets
Week 5: Agribusiness
ABSA Bank is the main sponsor of the Citi Business Festival 2022 with support from MTN Momo and MTN Business Support, Ghana Investment Promotion Centre (GIPC) and IT Consortium.