The Current COVID19 Pandemic, with its chunk of catastrophic effects, has not spared economies of countries on different continents. In a bid to survive during the current crisis, that has forced many businesses to lift “Closed Now” notices, many have adapted to new models of operation in a Pandemic.
Exemplary businesses that were previously not online, have now acquired a digital presence in order to reach, and serve their clients. This has seen more businesses become digital-centric to offer flexibility to their workforces, as well as adopt new systems to support their nature of work.
Last Week, MTN Uganda hosted a Webinar to discuss the new and emerging business models amidst the COVID19 Pandemic.
The Webinar was hosted by Dennis Musinguzi-The MTN Uganda senior Manager for products and services, Christopher Ssali -MTN Liberia Mobile Financial Services General manager, and the Eversend Fintech App CEO, Stone Atwine.
During the Webinar, Dennis Musinguzi said that, although businesses suffered a lot at the beginning of the Covid19 lockdown, they have ensured their continuity by going digital, and serving their customers through social media channels.
Fresh food markets suffered the most during lockdown. However, they went digital and started doing home deliveries. They are now in business.Dennis Musinguzi – Senior Manager for Products and Services, MTN Uganda
New Business models relying on the Cashless evolution
Likely, Christopher Ssali noted that, there has been an observed change in payment habits over the last months as people are opting for contactless payment options more than ever before.
“Covid19 brings a new opportunity; previously more people felt more secure with cash. But after the pandemic, more people feel secure with payment options such as Mobile MoneyChristopher Ssali – Acting General Manager Financial Services, MTN Liberia
He further noted that, the paradigm shift in the forms of payment has led to a Mobile Money evolution, and as such, significantly reduced the need to use cash in the business value chain.
In resonance with Ssali, Stone Atwine inked that, the increase in mobile money usage has kept businesses afloat by enabling them to transact during the pandemic. Not only through transaction free payments with services like Momo Pay and Airtel Money Pay, but also the rise of Smartphone App-based channels.
Borrowing credence from his company ‘EverSend’, Atwine said that companies should embrace new operational models in order to survive the adverse effects of the pandemic.
“We are trying to do things that have not been done yet. For instance, we are now doing cross-border eCommerce, changing our product designs to include items such as donations and causes to help people raise funds for specific causes especially during these hard times,” Atwine said.Stone Atwine – CEO, EverSend Payments App
With the COVID19 Pandemic shaping the business sphere with new operation models. It’s now clear than ever before, that digital is the way to go for businesses to not only communicate better, but also leverage the fate of emerging technologies as discussed during the MTN Webinar.