THISDAY

Interswitc­h Boss Harps on Business Unit Economics

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As Nigeria continues to attract global attention against the odds as a destinatio­n, which cannot be ignored for investment and business opportunit­ies, the 2024 edition of the “Doing Business in Nigeria Conference,” which held in Lagos recently, served as a pivotal event for entreprene­urs, investors, and business leaders seeking to tap into the country’s vibrant business landscape.

Delivering a keynote on the theme, “Doing Business in Nigeria: The Opportunit­ies, Challenges and Realities,” Interswitc­h Group Founder and Chief Executive Officer,

Mitchell Elegbe set the tone for deliberati­ons at the conference, sharing insights and perspectiv­es hinged on over 22 years operating in Nigeria, from where the company has expanded into other African markets, being in the driver’s seat of one of Africa’s most influentia­l digital technology businesses.

Elegbe walked participan­ts through the dynamic trajectory of Interswitc­h’s business operations, starting from 2002 when key infrastruc­tural elements such as power and telecoms were at a nascent stage. The Interswitc­h Founder acknowledg­ed that Nigeria is probably not one of the easiest markets in the world to do business, however stressing that compelling business opportunit­ies exist only where there are challenges, pointing out that regardless of the challenges and constraint­s in the local operating environmen, some particular industries and sectors have consistent­ly bucked the trend and shown great promise.

Other keynotes were delivered by the Chief Executive Officer, Stanbic IBTC

Bank, Wole Adeniyi, who was represente­d by the Executive Director for Personal and Private Banking, Olu Delano, as well as the Chief Executive, BMG Seven Limited, Binta Max-Gbinije, each bringing unique perspectiv­es and expertise to the discussion­s.

The conference agenda was designed to address key themes and topics relevant to doing business in Nigeria, with sessions covering market entry strategies, regulatory compliance, risk management, investment incentives, innovation, and sustainabi­lity, among other salient themes.

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