How start-ups can navigate Nigeria's business landscape
Nigeria's president, Bola Tinubu, has given the re-assurance to investors and businesses that policy consistency will be a major attraction to grow and sustain the economy. With the raft of policies introduced so far, how best can businesses can adapt to the evolving economic landscape. Bola Lawal, the CEO of Premia Business Network, joins CNBC Africa for this discussion.
Fri, 04 Aug 2023 12:26:57 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The impact of FX policy on businesses, particularly tech startups and traditional enterprises, and the importance of clear reporting amidst currency fluctuations.
- The short-term hardships and long-term gains of subsidy removal, with a focus on utilizing gains for public infrastructure to mitigate the impact on the public.
- The power of communities and collaboration in scaling businesses in a challenging environment, leveraging synergies, reducing costs, and facilitating knowledge exchange.
In a recent interview on CNBC Africa, Bola Lawal, the CEO of Premia Business Network, shed light on the key paradigm shifts in the business landscape under the Buhari and Tinubu administrations. Lawal highlighted the challenges businesses face with inflation, FX volatility, and access to finance. He pointed out the impact of the FX policy on both tech startups and traditional enterprises, emphasizing the need for clear reporting structures amidst currency fluctuations. Lawal also addressed the subsidy removal, noting the short-term hardships faced by the public and the importance of using gains for public infrastructure to ease the impact of reforms. On the topic of scaling businesses in a challenging environment, Lawal emphasized the power of communities and collaboration to leverage synergies, reduce costs, and facilitate knowledge exchange. He highlighted the success of the Growth Conference in promoting solutions and networking opportunities for businesses seeking sustainable growth amid economic headwinds. Lawal's insights provide valuable guidance for businesses navigating Nigeria's evolving economic landscape and adapting to new realities.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.
