UBA Urges Entrepreneurs to Embrace Sustainable Business Practices
At The Event .photo credit: UBA Group
The United Bank for Africa (UBA) has called on Nigerian entrepreneurs to adopt sustainable business models for long-term growth and survival in Nigeria’s tough economic climate.
Importance of Sustainability in Business
Speaking at UBA’s final quarterly business series in Lagos, keynote speaker Bolanle Austen-Peters highlighted the need for innovation, proper structure, and long-term planning in business operations. She stressed that many Nigerian businesses fail because of a lack of structured leadership and planning. Businesses must go beyond just making profits,” she said. “Adopting sustainable models is key to building resilience and reducing the high rate of business failure in Nigeria.
Adaptability and Consistency Are Essential
Television host Frank Edoho emphasized the importance of adaptability in Nigeria’s ever-changing economy. Drawing from his media experience, Edoho advised entrepreneurs to evolve with market trends and maintain consistency. In today’s fast-paced world, sustainability is not a buzzword; it’s a necessity. Entrepreneurs must pivot, innovate, and continuously improve to stay relevant,” he said.
Building a Strong Brand Identity
Media personality Toke Makinwa encouraged business owners to focus on their brand identity while implementing sustainable strategies. She shared her personal journey, explaining how purpose-driven practices have helped her businesses succeed. Your brand is your strongest asset,” she said. “Balancing growth with maintaining your values is what sets a business apart.”
Understanding Customers and Innovation
Princess Tekenah, CEO of Happy Coffee, spoke on the importance of understanding customer needs and using innovative practices to deliver value. At Happy Coffee, we educate our customers about Nigeria’s coffee culture while creating long-term value through innovation,” she said. “Flexibility and a focus on customer needs are vital for sustainability.
Building a sustainable business is not just about making profits; it’s about creating value, staying adaptable, and aligning growth with purpose.
UBA’s Commitment to Entrepreneurs
The event concluded with UBA’s Group Managing Director, Oliver Alawuba, reaffirming the bank’s support for entrepreneurs. He assured participants that UBA would continue to provide financial solutions, training programs, and advisory services to help businesses thrive. By adopting sustainable business practices, Nigerian entrepreneurs can build resilient enterprises and overcome the challenges of today’s economy.
In today’s challenging economic environment, adopting sustainable business practices is no longer optional—it is essential for long-term success. By embracing innovation, adaptability, and a strong brand identity, Nigerian entrepreneurs can build resilient businesses that stand the test of time. With UBA’s continued support through financial solutions and capacity-building programs, the future looks promising for those ready to rethink their strategies and focus on sustainability.
