ECOBANK supports launch of digital strategy report

Accra, Sept 1, GNA – The Nobel International
Business School (NiBS) has launched the first-ever Digital Strategy in Action
Report with a call on Ghanaian firms to strive to enhance management
understanding of digital transformation with the technologies and processes
involved.

Launched in the auditorium of the plush
Ecobank Head Office in Accra, the report chronicles digital strategy
development and implementation as pertains to current Ghana Club 100 businesses
in the country.

The emphasis on Ghana Club 100 companies is
due to the perception that listed companies have distinguished themselves in
their various fields of endeavour and have made unique contributions to the
Ghanaian economy through successful enterprise building.

The Digital Strategy in Action report
highlights the unique features of companies in both the financial and non-
financial sectors and explains the peculiar nature of digital strategy
formulation and implementation that applies to both sectors.

It also highlights the role of CEOs in the
digitisation process, while uniquely uncovering processes that place the
responsibility of championing the digital strategy on the CEO.   

In a welcome address delivered on behalf of
the Managing Director of Ecobank, Dan Sackey, the Regional Head of Operations
and Technology at Ecobank, Mr.  Sam Yaro,
indicated that Ecobank was proud to support research and innovations.

He emphasised that digitisation was the way to
go for organisations who plan into the future and intimated that the report had
the potential to demystify and also encourage the acceptance of digitisation
which had direct positive impact on business development. 

Mr Yaro mentioned that the report was timely
and provided great insights for adoption by forward thinking companies, as they
worked to maintain relevance in the fast-paced business environment of
today.  

The utilisation of the Digital Strategy
Competence Scorecard and the Digital Strategy Sophistication Evaluation Framework,
which were presented in the report, would assist companies to ascertain their
prospects and growth in terms of digitisation to know whether or not they were
covering the necessary ground and what steps to take in order to remain
relevant in the years ahead.

Professor Kwaku Atuahene Gima, President and
Executive Dean of NiBS spoke on the purpose of the research, methodology used
and its impact on business while Dr. Sheena Lovia Boateng, an Associate
Professor of NiBS took members through the report and its findings.

The report emphasised that transformation
through digital strategy was key and would lead organisations into the future
and stressed the need for firms to assess their digital competence and
strategies.

It also called on Ghanaian Chief Executive
Officers not to remain on the periphery, but to be involved in the digital
processes as well as enlisting the buy-in of the entire firm.

“Digital transformation impacts several
functions at various levels of the organisation, and it was only the CEO that
had enough influence to manage change at all the different levels with the
firm,” the Report added.

The Report also highlighted some factors that
impede the efforts of Ghanaian firms in taking advantage of the digital trend,
including; lack of management understanding, lack of overall strategy, security
concerns and lack of organisational agility.

GNA

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