By Modupe Gbadeyanka
Some experts in the Micro, Small, and Medium Enterprises (MSME) sector have advised players in the industry to embrace technology to be guaranteed growth.
This advice was given at the third edition of the MSME Dialogue on April 24, 2021, and organised by MSME Africa, a multi-faceted resource platform for small business owners on the continent.
The organisation provides capacity development, news, opportunities, business articles and other resources for entrepreneurs and startups.
One of the speakers at the quarterly programme aimed to address and proffer solutions to issues affecting MSMEs, Bisoye Coker, the CEO/co-founder of Kiakia FX, said it is important for organisations, whether big or small, to power their businesses with technology and digital transformation.
“Digitisation is the key to fixing several of the numerous challenges faced by businesses; embracing technology helps business owners to make smarter decisions by helping to collect, store and process data,” Coker said.
Another speaker, Rex Mafiana: CEO, FPG Technologies, submitted that, “Technology is a behaviour tracker that can help MSMEs leverage minimal capital in very effective ways.”
“Purchase convenience and personalization are some of the advantages technology gives to business and at the heart of the digital transformation is customer experience,” he added.
While responding to a question, the CEO of FirstFounders, David Lanre Messan, stated “Technology is an enabler; you don’t build a business solely on technology; you use technology to power and enable your ideas and innovations.”
For Fatma Nasujo, the Global Head of Operational Excellence at Sokowatch, Kenya, she made a case for technology education in schools, noting that “being intentional about technology education will help in innovation and technology adoption.”
On the part of Jeffrey Williams-Edem, Group Business Head, Merchant Acquiring at Interswitch Group, innovation must stick to continuous creativity and MSMEs must start their technology journey by first identifying their sales objectives.
While commending the speakers for providing insights on the subject of discussion at the event moderated by Solape Akinpelu, the CEO/founder of HerVest, the convener of MSME Dialogue, Mr Seye Olurotimi, expressed his appreciation to all attendees and the brands who supported the event, Accion Microfinance Bank and Quickteller Business.
The next edition of MSME Dialogue is expected to take place in July 2021.
The blockchain brings new financing options to the business market. For example, Bitcoin Cash casino has adapted to only using cryptocurrency. This way, it makes it easier for their customers to deposit and withdraw in a BCH casino. Entrepreneurs have taken note of this and are looking to invest more in crypto than in fiat markets.
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