Kampala. Graduates of the CEO Apprenticeship Programme (CAP) should cope with technological disruptions in their respective sectors to remain relevant.
The remarks were made during a graduation ceremony for the Strathmore Business School CAP class of 2018 held in Kampala on Friday.
Mr William Ssekabembe, the executive director of dfcu Bank and a 2014 alumnus of the programme said, “It is important to adapt the new technology trends coming up especially in the financial sector if institutions are to remain relevant.”
He also added, “As the banking sector becomes more tech based, they need to balance their short- and long-term goals to satisfy both their customers and boards.”
This, he said, during a panel discussion under the theme, ‘How to stay focused and sticking to your plan.’
While Mr Shem Kakembo, managing director EFC Uganda Limited warned, “As financial institutions, if you do not embrace technological changes, you risk being wiped out.”
The banking sector has experienced a number of technology shifts from mobile money transactions and internet banking to agent banking which have all disrupted operations of the financial sector, noted Mr Kakembo.
One of the graduates was newly appointed acting executive director for Housing Finance Bank, Peace Kabunga who shared her experience in the CAP programme, said: “It has been both a challenging and interesting journey, meeting CEOs [chief executive officers] from across the region gave me the confidence to take on bigger roles.”
Adapt to technology
She also noted that if you hide from technology, you won’t succeed.
“It is all about understanding what technology is coming around and how you can leverage it. For example, there are more fintechs coming up, how you partner with them to deliver for the customer is what matters most,” said Ms Kabunga.
Another graduate, Evans Nakhokho, head of Agribusiness at Centenary bank said, “Business is a changing environment and how you adapt makes the difference.”
Taking care of short term means you can develop the resources for the future hence it is important to have a hybrid of both now and the future, he noted.