Innovation is the bedrock of entrepreneurial success – CEIBS Women Forum

Accomplished women leaders in various facets of the corporate world and entrepreneurship have underscored the importance of innovation in driving entrepreneurial success as they urge young women to envisage innovation as the bedrock of their success.

The panel of seasoned businesswomen at the African Women Leadership Forum, under the theme ‘Empowering African Will to Lead’ and organised by the China Europe International Business School (CEIBS), emphasised the crucial role of innovation in driving entrepreneurship and business growth, urging the audience to embrace new ideas and take bold steps toward achieving their goals.

The event, which brought together hundreds of women entrepreneurs and business leaders, at the Marriot Hotel in Accra, featured a panel discussion with some of Africa’s most accomplished businesswomen, including Angela Mensah-Poku, Chief Enterprise Business Officer at MTN Ghana; Dr. Ibukun Awosika, renowned African entrepreneur, author and international leader; Rosemary Mbabazi, Rwanda High Commissioner to Ghana; and Abena Osei-Poku, Managing Director of Ecobank Ghana; among others.

Nigerian entrepreneur and Founder of Traders of Africa (TofA) – an organisation breaking down barriers to Pan-African Agric-trade, Uju Uzo-Ojinnaka, shared her success story which began due to the challenges she encountered at the time when she needed some farm produce. This need brought about the desire to find solutions that were not available.

She further stressed that innovation is the key differentiator between successful entrepreneurs and those who struggle to make an impact.

“Innovation is the bedrock of entrepreneurial success. It is what sets you apart from the competition and allows you to stay ahead of the curve. Innovation is not just about coming up with new ideas, it’s about finding new solutions to old problems. It’s about being bold and taking risks,” she said.

Managing Director of Ecobank Ghana, Abena Osei-Poku, expressed that most women tend to be laggards when it comes to taking initiative and seizing opportunities when they arise. She, therefore, encouraged the women present to seize opportunities as they arise, without being held back by fear or self-doubt.

“Men are very bold and adventurous with opportunities even when they know they are not qualified; but even when women are fully qualified, they still show scepticism. Let’s minimise the end-to-end analysis to determine our qualifications as women and go for the opportunities when they present themselves, we just need to take action without hesitation,” she stressed.

Chief Enterprise Business Officer – MTN Ghana, Angela Mensah-Poku, mentioned that the future of entrepreneurship in Africa is bright; and it’s women like those gathered there who will lead the way.

She added that while building relationships and networking is very important for entrepreneurs, they should be circumspect about the kind of networks they build in order not to waste their precious time and resources on irrelevant connections. “Nonetheless, you must have a purpose for a particular network and bring value to the relationship to be recognised,” she said.

She also highlighted that resilience is achieved through adaptability so it’s important to go through the process and not think about short-cuts.

The Rwanda High Commissioner to Ghana, Rosemary Mbabazi, in her remarks, emphasised the importance of seizing opportunities as they arise, without being held back by fear or self-doubt. “Leap and see where it takes you. Don’t let fear hold you back from pursuing your dreams,” she said.

The discussions hovered around the topic ‘Building Resilience and Navigating Challenges: Overcoming Obstacles in Leadership’.

Capt. Rtd. Prince Kofi Amoabeng (Rtd), President of UT Holdings, the guest male speaker, reiterated that it’s time for women to also be deliberate about taking risks to try even when they are not too sure about the outcome.