SMEs will be catalyst for growth in new normal
Dayalan Govender is the Managing Executive of Card, Payments and Transactional at Nedbank. He spoke with Efma’s Lukas Dzuroska about his drive to innovate in our newest podcast.
The nature of SME banking has transformed a lot in recent years. The needs of SMEs have become more complex and much broader. In their banks, these companies do not simply seek a financial institution who can provide capital, but a true business partner that can deliver a wide range of services in a holistic business offering. To discuss SME banking and the way it is evolving in the Covid era, Efma’s SME banking expert Lukaz Dzuroska spoke with Dayalan Govender. Mr. Govender is an executive at Nedbank in South Africa with extensive experience working with SME clients. As with all interviewees in this series, he is a nominee for 2020 SME Banker of the Year.
In the latest installment of the Efma-Mastercard SME Banking podcast, the two discuss Mr. Govender’s path towards his current role. He is a chartered accountant by training and background. He eventually decided he wanted to make a career change and sought out a dynamic organization where he could learn and contribute using his drive, creativity, and leadership. “It’s been a positive career change I made and I never looked back,” said Mr. Govender.
For Mr. Govender, SMEs do not simply bring economic benefits to their surrounding communities, but also an incredible amount of social value. “We all recognize the strong economic value that SMEs provide. But the benefits they bring extend beyond the economic activity. It also includes the social aspects,” he said.
Going forward, in a world in which Covid19 is present (or at least a recent memory), SMEs are going to play a critical role in the economy of tomorrow. “As we transition into a new normal, SMEs will represent the biggest catalyst for growth and employment,” said Mr. Govender. And banks are perfectly situated to assist them in their catalyzation of the future economy.
Lukas and Dayalan discuss much more throughout their conversation. You can listen to the podcast on all of your favorite platforms here.