Pandemic: Economic Experts to Dialogue on Ways of Strengthening Corporate Resilience Against Crisis

Amidst the rising global inflation and economic downtrend in the aftermath of the pandemic, corporate organisations are still staggering through the current business environment with uncertainties of possible future pandemics and the like. To this end, the Financial Derivates Company Limited is organising an Economic forum.

The forum themed “Corporate resilience: Economic recovery against unforeseen pandemics,” will hold on the 5^th of December 2022 in Lagos and will bring together business leaders across the private sector, economic policymakers, and MSMEs.

The global pandemic outbreak led to a crisis with significant losses in the global economy. It reminded us of the fragility of the economic institutions and the business landscape, particularly in Nigeria where the cascading collapse of the entire production, financial, and transportation systems, due to a vicious combination of supply and demand shocks was witnessed. Some businesses are struggling to absorb the shock generated by the pandemic while others never recovered.

The forum will drive conversations on the present economic outlook and propel dialogues that will explore measures that are needed to strengthen business organisations in preparedness for future uncertainties like the pandemic so that it becomes easier to overcome the crisis and begin the recovery phase.

Speaking about the forum, renowned economist, Managing Director and Chief Executive Officer of the Financial Derivatives Company, Mr Bismarck Rewane says “the economy and the business landscape, including large corporations focus on growth in revenue and business expansion. They spend a lot of time and resources developing crisis management programmes with possible scenarios but not with the magnitude of the pandemic. The shock has had an irrecoverable effect on the global economy with double-digit inflation in many countries as never seen. As economic stakeholders, we can dialogue to find ways in which businesses are prepared for such situations so that their recovery is less painstaking. Is the pandemic over? Would it reoccur? Will there be equitable economic recovery for all corporates? These are questions without certain responses. Indeed, these are the uncertainties we must prepare for and that will form part of the conversation this forum hopes to drive.”

The Financial Derivates Company has built an outstanding reputation as the leading source of business information, economic data, research, and analysis in Nigeria and across West Africa and its primary goal is to devise strategies that help organisations meet their financial and business objectives.

November 28, 2022