Innovation, persistence, and regular assessment are crucial for building businesses that stand the test of time, according to experts who spoke at the United Bank for Africa’s (UBA) quarterly Business Series on Thursday. The event, part of UBA’s 75th-anniversary celebrations, was held at the bank’s headquarters in Lagos and aimed at enhancing the sustainability of small and medium-sized enterprises (SMEs), particularly those run by UBA customers.
Themed “Built to Last: Building Generational Businesses,” the special edition of the Business Series brought together veteran entrepreneurs and Chief Executive Officers from diverse industries to share their insights on creating profitable ventures that endure over time. Among the speakers were stand-up comedian and CEO of XQZMOI Television, Atunyota Akpobome (Ali Baba); renowned photographer Kelechi Amadi-Obi; CEO of Diaryofakitchenlover, Omotolani Tayo-Osikoya (Chef T); and Kenyan entrepreneur and CEO of Melvin Marsh International Ltd, Flora Mutahi.
Ali Baba emphasized the importance of creativity and adaptability in maintaining a competitive edge, stating, “As a business owner, you need to come up with ways to ensure that you stay on top of your game and remain relevant. This is where creativity comes in; you need to study the sector where you operate and bring dynamism to your business.”
Chef T advised SMEs to differentiate themselves by understanding and exceeding customer expectations, while Amadi-Obi highlighted the need for personal impact and constant evolution. “My goal has always been to make an impact, first for myself and then for the client, because I believe that your product is a function of your creativity; therefore, you need to evolve,” he said.
Joining the event virtually from Kenya, Flora Mutahi underscored the immense potential of Africa’s entrepreneurial spirit and stressed the importance of persistence in growing a lasting brand.
UBA’s Group Head of Retail and Digital Banking, Shamsideen Fashola, reiterated the bank’s commitment to empowering business owners across the continent. “At UBA, it is not just about banking; we are also passionate about helping our customers grow thriving businesses. That is why we do this on a regular basis,” Fashola explained. He also expressed gratitude to the professionals who shared their expertise, noting that the insights gained would significantly benefit the attendees.
The event underscored UBA’s ongoing efforts to support the growth and sustainability of SMEs, fostering a culture of innovation and resilience across Africa.
