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Angela Mensah-Poku

Vodafone Ghana: Digitalisation at scale

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Running a small business is demanding. Each day presents challenges that can affect your cash flow, your customers, and your ability to grow. Amid these demands, it is easy to lose sight of long-term financial priorities. However, businesses that last are not only those with good products or strong customer service. They are often the ones with better financial habits. This article outlines seven essential points that will help SMEs manage their finances more effectively, reduce risk, and plan for growth. 1. Start with a Clear Financial Plan A good financial plan gives direction to your business. It helps you set targets, allocate resources, and make informed decisions. Start by defining your financial goals. These should be SMART - specific, measurable, actionable, realistic, and tied to timelines. For example, you should determine how much revenue you need each month, what level of production or service delivery is required to meet that target, and how you intend to achieve it. Once your targets are clear, you will need a working budget. A good budget helps you monitor income and expenses, manage cash flow, and ensure that your business remains on track. It also provides a basis for deciding what to prioritise and what to postpone. At its best, your financial plan should help you answer key operational questions such as what resources are required to operate or grow, where those resources will come from, what they will cost, and whether your business is in a position to take them on. Planning in this way reduces uncertainty and allows you to run your business with greater clarity and confidence. 2. Maintain Accurate Financial Records Accurate financial records are essential for any business. Whether you are managing day-to-day operations, planning for future growth, or applying for funding, clear and reliable financial information allows you to make sound decisions. Many small businesses struggle in this area due to time constraints, limited expertise, or a lack of systems. However, proper record-keeping should never be overlooked. It supports internal decision-making, strengthens external credibility, and improves your ability to respond to opportunities or risks. Business owners can start by gaining basic knowledge of accounting principles and tools. Training employees in simple record-keeping practices also helps to build internal capacity. In some cases, it may be worthwhile to engage professionals who can help you put the right systems in place and prepare essential reports at a cost that makes sense for your business. 3. Choose a Banking Partner Aligned with Your Goals The right banking relationship can make a real difference to your business. A bank like Absa Bank is more than a place to keep your funds. It is a partner that can support your operations, guide your financial planning, and help you take advantage of growth opportunities. Begin by understanding your business needs. These might include working capital support, payments and collections services, or trade finance. Once your needs are clear, assess whether your bank offers the right mix of services, accessibility, and expertise. Your banking partner should make it easier to run your business, not harder. They should share your ambition to grow, be responsive to your concerns, and provide solutions that are tailored to the stage your business is in. A strong banking relationship will give you confidence and peace of mind as you build your enterprise. 4. Deploy Effective Payment Solutions Revenue is the foundation of every business and the way you go about collecting it is key. In today’s economy, customers expect fast, simple, and secure payment options. If your business only accepts cash, you may be turning away potential sales without realising it. Providing customers with flexible payment options is no longer a luxury. It is a necessity for growth and long-term relevance in a digital economy. Offer customers alternatives such as instant bank transfers, mobile money, card payments through point-of-sale devices, or more innovative solutions like Absa Mobi Tap to improve your customer experience and increase your reach. These methods reduce delays, enhance transaction security, and demonstrate professionalism. 5. Meet Statutory Obligations Promptly Every business has legal and regulatory responsibilities. These include filing and paying taxes, submitting Social Security and National Insurance Trust contributions, and meeting other sector-specific requirements. Complying with these obligations on time helps you avoid penalties and disruptions. It also builds your business’s reputation and improves your standing with financial institutions and regulators. To stay compliant, you should adopt a legal structure that suits your business model and goals. You may also wish to seek legal or tax advice at key points in your journey. Planning ahead for obligations such as annual tax payments or quarterly filings ensures that you are not caught off guard. Meeting your statutory responsibilities consistently is a mark of a well-run business. 6. Manage Your Risks Running any business involves risk. These risks may include delayed payments from customers, unexpected costs, economic downturns, or even natural disasters. For small businesses operating with limited resources, such events can be difficult to absorb. This is why risk management must be part of your financial routine. Start by identifying the main risks that could affect your business. Put in place basic measures to protect your operations. This could mean setting aside emergency reserves, purchasing insurance, or diversifying your income streams. Being proactive about risk does not eliminate uncertainty, but it helps you stay in control when challenges arise. It also signals to lenders, partners, and customers that your business is prepared and resilient. 7. Separate Business and Personal Finances It may be tempting to treat your business account as your personal wallet, especially in the early stages. However, failing to separate your business and personal finances can lead to confusion, tax problems, and credibility issues. As a business owner, you should pay yourself a fixed salary. Avoid withdrawing funds at random or covering personal expenses with business income. If you invest personal funds in the business, document it properly as a loan or equity contribution. Keeping your finances separate helps you maintain clear records, assess business performance accurately, and present your enterprise in a more professional light to partners, banks, and regulators. At Absa Bank, we believe that strong financial habits form the backbone of every successful enterprise. Our commitment is to walk with our clients and customers at each stage of their journey, providing guidance, tools, and solutions that help SMEs grow sustainably and with purpose.

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Vodafone Ghana: Digitalisation at scale

in Technology
Angela Mensah-Poku
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Shoyinka Shodunke, Director of Technology, Vodafone Ghana and Angela Mensah-Poku, Director of Digital and Commercial Operations at Vodafone Ghana discusses the organisation’s ongoing digital transformation and the challenge of COVID-19.

Vodafone is a leading telecommunications provider in Ghana.

The organisation is a total communications solutions provider – mobile, fixed lines, internet, voice and data – and the telecom firm of choice for many Ghanaians.

Shoyinka Shodunke is Director of Technology for Vodafone Ghana explained: “We’re a unique telco and are currently going through a transformation with a flavour and uniqueness of the Ghanaian market”.

Shodunke explains that his firm has established three core, strategic pillars as a baseline of operations as Vodafone Ghana seeks to transform from a traditional telco to a digital organisation.

“One of those pillars is culture and how we behave on a daily basis,” says Shodunke.

Secondly, we have to ensure that we’re building platforms that are transformative. Lastly, we’re driving differentiation from unique capabilities that are developed in-house and engagement of ecosystem partners via software engineering using platforms.”

As a result of the impact that COVID-19 has had on organisations the world over, Shodunke reflects that the pandemic has acted as a catalyst for digital transformation.

“COVID has been an interesting situation to overcome across all industries,” explains Shodunke. “The pandemic has accelerated everyone’s planning to fully embrace digitalisation across all verticals from planning to operation, and it came at a time when we needed some soundcheck or simulation in terms of the practices we already had in place. Our ability to transform our call centres and a move from traditional bricks and mortar customer service was a testament to our digital journey and what we’re trying to do.”

Angela Mensah-Poku, Director of Digital Transformation and Commercial Operations at Vodafone Ghana, believes her organisation’s digital transformation agenda is to deliver the most engaging customer experience.

“We do this by blending the best of digital and human interaction in a personal, instant and easy way,” she says.

“Vodafone had already started our journey of digital customer experience ahead of the pandemic. We were driving a shift in consumer behaviour before the outbreak. In line with our commitment to building a digital society that improves people’s lives, we employ new technologies such as artificial intelligence (AI) to transform our customers’ experience and the efficiency of our operation. We have a host of digital-led platforms, which include a machine learning chatbot and self-service app.”

Vodafone Ghana introduced its virtual agent, TOBi, to automate contacts instantaneously and in a personalised way and Mensah-Poku believes its introduction has been influential.

“We made TOBi the constant across all channels during COVID-19 and this has been invaluable,” says Mensah-Poku.

“The My Vodafone app is one of the many ways to excite and interact with our customers. This was delivered by young, talented Ghanaians who brought their expertise and creativity to deliver this ‘wow’ experience.”

Its unique and elaborate features offer a complete all-in-one solutions platform for our customers. This unique app allows customers access to Vodafone services and is designed with the objective of empowering the customer to do more and manage their accounts on the go. The app also integrates TOBi in its interface and so you don’t necessarily have to go to a retail store for assistance.”

“Tobi is now taking on around 30% of all customer contacts to our experience centre and is able to deal with transactions and information,” adds Mensah-Poku.

“It runs on machine learning and Big Data and was something the team were able to implement in-house that has managed to bring significant efficiency and take our customers on that self-service journey. When you talk about the impact of COVID, our customers and ourselves had to adapt and become more digital in a matter of weeks. Fortunately for us, we were already on that journey and being on that journey meant we could introduce the My Vodafone app to drive conversations and mitigate the pressure during those critical periods. Hopefully, when we fast forward to next year, you will see a very different organisation and customer base that aren’t afraid to embrace digital because they had no choice.”

Read also: The gift of Vodafone Ghana’s ‘My Vodafone App’ which keeps on giving(Opens in a new browser tab)

‘’We place the customers at the very heart of all that we do and this is what drives our leadership in innovation. Enabling our customers to interact seamlessly and consistently with us, when and how they want, is a promise and this is what differentiates us.’’

Shodunke believes that one of the key lessons learnt from the coronavirus was around ensuring cybersecurity was prevalent at all times.

“The key area for us was around security,” he affirms. “When you transform to the digital space, your services move from the traditional protection received from bricks and mortar to everyone having access to whatever platform they need to get the job done. It’s vital to ensure there is good security in place to avoid data leakage and intrusion to malicious use of your system.”

Shodunke acknowledges the importance of adopting an innovative approach with involvement of ecosystem partnerships and believes it’s a key driver to success.

“In the market that we operate in, our ability to innovate and self-disrupt is going to stand out and determine your overall position in the market,” explains Shodunke. “Innovation is a critical success factor for us. Building platforms requires a deviation from how telcos have approached building products and services to using a nexus of forces to drive new business models and better engagement of our ecosystem to drive two-direction model participation. Our three key pillars all come back to our culture of innovation.”

The importance of developing key, strategic business relationships is essential to the long-term approach of most companies. Vodafone Ghana has established partnerships with Tech Mahindra, Raycom and Oracle that are particularly influential.

Shodunke recognises the value in an ecosystem of partners to ensure everyone can play a key role.

“Partnerships are important in terms of where we’re driving the business now. If you take a deep look at successful digital initiatives, they are primarily driven by partnerships, new ways in which actors collaborate to bring value. Such ecosystems require everyone to contribute and work to its success and to continuously innovate to keep it so. This model ensures a win-win. Driving innovation, rather than previous transactional models. Such partnerships are more about harnessing the full benefits of an ecosystem so that every partner invests in value creation.”

Shodunke points out that for a partnership to be successful, both parties must be working to a common objective. “There must be strategic alignment,” he says. “You must have common goals and objectives underpinned by solid relationships.”

With the future in mind, Shodunke believes his organisation is in a great position to continue to be a top telco of choice in Ghana and to expand in the country.

“From a Vodafone standpoint, today we’re a telco company transitioning to a technology communications company. We’ve redefined our strategy and objectives. Our products and services go far beyond the native telco products of voice and services,” explains Shodunke.

I would consider Vodafone Ghana as the top digital company in Ghana. There is no comparison in terms of customer value and experience to our My Vodafone app, chatbots or websites. We are introducing more initiatives to ensure that customers get a seamless experience whichever channel they use to contact Vodafone Ghana.”

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