The Africa Chief Executive Officer (CEO) of United Bank for Africa (UBA), Abiola Bawuah said the “ceiling is broken and there is no longer an excuse” for Africans not to innovate and grow.
Bawuah and other women business leaders talked up innovation in African businesses and its impact on economic growth on a panel at UBA Africa Conversation 2023, Wednesday.
Other speakers at the event were Foluso Gbadamosi, a Business and Tech Executive and Hilda Bassey, otherwise known as Hilda Baci, a Foodpreneuer and Chef.
Also on the panel were Banke Kuku-Lawson, the Creative Director and Founder of Banke Kuku; a clothing shop and Owen Omogiafo, the President and Group CEO of Transcorp Plc.
Bawuah – a Ghanaian national who became UBA’s first female CEO for Africa operations in January 2023 – said innovation for her was doing things that change the status quo positively.
Bawuah recounted how she promised to perform better than ever from the moment she was appointed CEO of UBA.
Hilda Baci and Omogiafo both affirmed innovation as necessary to keep their businesses sustainable and on the number one spot.
“I feel like food is also oil,” said Hilda Baci, who recently participated in the Guinness World Records Contest and cooked for 100 hours in Lagos.
Hilda Baci, who also runs her own business ‘My Food By Hilda’, said most people fail to innovate in the food business as they only see it as a “side hustle and not a valuable business.”
Omogiafo attributed innovation as the force that helps the Transcorp Group stay number one in its businesses, especially in its investments in power generation.
Kuku-Lawson said Africa already has the world’s attention, as they receive its creative arts and music
Gbadamosi also stated that the large youth population of Nigeria is already using Artificial intelligence and Africa at large, needs to maximise it.
Bawuah added that UBA’s appointment of more female CEOs and the intentional spread of African nationals to lead its different groups in different nations made it a true innovator and Pan-Africanist bank.
In their final words, Kuku-Lawson encouraged African brands to build their profile through collaborations and be consistent, while Gbadamosi urged the youth to “embrace technology.”
Hilda Baci stated that young people would gain the necessary skills to run businesses from reading more just as she did.
Muyiwa Akinyemi, the UBA Deputy Managing Director thanked the panellists and praised all their achievements.
