MGA Dialogue Series: Leaders urged to embrace digital transformation

The latest MGA Dialogue Series highlighted the need for business leaders to adapt.

The theme was “Empowering Leaders for the Digital Future.” The webinar featured Dr. Jeff Bassey and Mr. Michael Abbiw, CEO of MGA Consulting Ghana Limited.

Mr. Abbiw opened by stressing the need for organizations to rethink leadership. He noted that businesses must adapt to a fast-paced environment.

He referenced McKinsey research showing data-driven companies acquire customers more effectively. These organizations are also significantly more likely to be profitable.

Mr. Abbiw addressed a common misconception about digital transformation. He stated it is not just for top executives or IT departments. Digital literacy and innovation should be present at all levels of an organization.

“Leaders today must be agile,” he said. “The traditional model is no longer enough.”

Dr. Jeff Bassey urged leaders to adopt an “outside-in” approach. This means adapting strategies based on external changes like customer behavior and technology.

He outlined four key pillars for leaders to remain competitive. In today’s economy, business models cannot stay static.

“The average successful business thrives on its fourth to seventh model,” he explained. He encouraged businesses in Ghana and Africa to evaluate their models regularly.

According to Dr. Bassey, digital technology is essential for performance now. “Technology enables us; it does not take over,” he said.

He emphasized the importance of responding proactively to customer behavior. Organizations should include situational analysis in their strategic planning.

Collaboration is crucial for growth, according to Dr. Bassey. He cited telecom companies selling insurance as an example of joint value creation.

“Strategic partnerships are necessary,” he stated, emphasizing that no business can succeed alone in a digital economy.

Dr. Bassey reinforced that speed and innovation matter more than size today. “Organizations that learn and act faster will win,” he said.

He warned against relying solely on seniority in leadership roles now. “Experience alone isn’t enough; learning and unlearning set great leaders apart.”

He called on African leaders to embrace change and use technology wisely while understanding customers deeply.

Participants left inspired by the emphasis on being responsive, strategic, and customer-focused.

The MGA Dialogue Series continues as a platform for knowledge sharing across Africa's corporate landscape.