By Ayomide Otitoju
United Bank for Africa (UBA) has called on Nigerian entrepreneurs to adopt sustainable business practices to ensure long-term growth and resilience in the face of the country’s challenging economic environment.
The appeal was made during UBA’s final quarterly business series for the year, held in Lagos on Thursday. Bolanle Austen-Peters, the keynote speaker and a renowned entrepreneur, highlighted the critical need for structured leadership and long-term planning in Nigerian businesses.
“Businesses must move beyond profit-making to adopting sustainable models that incorporate innovation, proper structure, and long-term planning,” Austen-Peters said. “The rate of business mortality in Nigeria is concerning, and it is time for entrepreneurs to rethink their approach to building resilient enterprises.”
Television host Frank Edoho, another speaker at the event, emphasized the necessity of adaptability in today’s volatile economic landscape. Sharing insights from his career in media, Edoho underscored the importance of evolving with market trends.
“In the fast-paced world we live in, sustainability is not just a buzzword; it’s a necessity,” he stated. “Entrepreneurs must learn to pivot, innovate, and continuously improve their strategies to remain relevant.”
Media personality Toke Makinwa added her voice to the discussion, urging business owners to prioritize brand identity while embracing sustainability. Reflecting on her entrepreneurial journey, Makinwa stressed the importance of purpose-driven strategies.
“Your brand is your strongest asset, and building a sustainable model around it is what will set you apart,” she said. “It’s about finding a balance between growth and maintaining your values.”
Princess Tekenah, CEO of Happy Coffee, highlighted the role of customer-centric innovation in achieving sustainability. She shared how her company has educated customers on Nigeria’s coffee culture while driving long-term value.
“Running a sustainable business means being flexible and constantly finding new ways to deliver value,” Tekenah said.
The event concluded with an assurance from UBA of its unwavering support for entrepreneurs. The bank’s representatives reaffirmed their commitment to providing financial solutions, capacity-building programs, and advisory services aimed at fostering business success across Nigeria.
The quarterly series continues to serve as a platform for entrepreneurs to gain insights and strategies to navigate the country’s economic landscape successfully.
