Business Banking Director at Absa Bank, Grace Anim-Yeboah has stressed the need for employees to harness the power of digitization in order to stay relevant in the era of COVID-19.
According to her, going digital is a key part of surviving a crisis situation such as the COVID-19 period.
Speaking on the topic “keeping your business alive during a crisis” on the second day of the on-air series of Citi FM/TV’s Business Festival, she urged employees to retool and reskill.
“You must have to make some pragmatic decisions and those decisions don’t come easy and that is why the whole digitization conversation is important. Also, because it will help you build efficiency into your business and it gives you skill. Also, for most employees it’s an opportunity to begin to retool, reskill, upskill to be able to do other things apart from whatever your existing service is. So, if you are a teacher and school is going digital, how digital savvy are you, can you quickly learn and position yourself. After all how many hours of teaching happens a day. You can position yourself strategically and even be teaching for three or four schools and making more money,” she said.
The continued sharp decline in working hours globally due to the COVID-19 outbreak means that 1.6 billion workers in the informal economy – that is nearly half of the global workforce – stand in immediate danger of having their livelihoods destroyed, warns the International Labour Organization.
The COVID-19 pandemic which hit the world in the latter part of 2019 has brought unprecedented disruption to the global economy, tremendously impacting livelihoods in Africa by reducing earnings and increasing poverty.
It has brought many businesses in the major economic sectors to a standstill, causing huge financial losses. As a result, many employers and employees have been severely hit.
Currently, people have to cope with the possibility of losing their jobs should the pandemic persist for a long time. The tourism and hospitality sectors have already recorded many job losses.
A recent African Union (AU) study revealed that about 20 million jobs are at risk on the continent as a result of the impact of the pandemic.
Globally, the International Labour Organization (ILO) has predicted that over 25 million jobs are threatened by the pandemic.
The 2020 edition of the Citi Business Festival started on Monday, June 1, 2020, with a line-up of radio and TV programs. It will feature virtual business forums and will be live on Citi TV.
The month-long festival of business events and on-air activities provides inspiration, business ideas, and information for persons who are starting, building or growing their businesses.
This year’s edition of the Citi Business Festival is sponsored by Absa Bank, GIPC, Citi 97.3FM and powered by the most comprehensive business news website; citibusinessnews.com.