Ajayi: Businesses must adapt to policy shifts for growth

Nigeria is at a critical juncture where economic policies and regulatory frameworks are rapidly evolving, reshaping market dynamics and requiring businesses to adapt to remain competitive. In a recent interview with CNBC Africa, Bayo Ajayi, the CEO of Rand Merchant Bank Nigeria, emphasized the need for businesses to recalibrate their strategies in response to these changes. Ajayi underscored the importance of financial institutions collaborating with policymakers to create a stable and business-friendly environment. As Nigeria undergoes significant reforms and introduces new policies and regulatory frameworks, businesses must understand the risks and opportunities that come with these changes. The CEO highlighted how Rand Merchant Bank Nigeria balances risk and opportunity through a robust framework and leverages its understanding of foreign exchange markets to help clients navigate evolving economic landscapes. By working closely with policymakers, financial institutions can advocate for market-friendly policies and support clients in adapting to regulatory shifts, ensuring they remain well-positioned for the future. Multinationals and local enterprises alike are facing challenges in the Nigerian market, with high inflation, volatile currency, and double-digit interest rates complicating capital allocation strategies. Rand Merchant Bank Nigeria advises companies to remain flexible, efficient, and agile, helping them optimize their balance sheets, raise capital, and navigate the complexities of the business environment. The aim of fostering ongoing dialogue and collaboration between industry leaders, policymakers, and experts is to translate insights from discussions like the Rand Merchant Bank Nigeria Economic Forum into actionable solutions that drive business growth and resilience.