Transformation is a necessary process for businesses in South Africa, and banks and financial institutions can play an essential role in this regard. But effective transformation is about more than surface-level changes, says Herman de Kock, Nedbank Commercial Bank's Executive Head: Sales & Service Planning & Management.
de Kock believes understanding this definition of transformation not only neutralises anxiety regarding this concept but also empowers the decision-making process and planning of a business's transformation journey. "For instance, it is not only about the transfer of ownership, but also investment in the skills development, training, monitoring and mentoring to ensure a sustainable production process and then securing access to an offset point for the produced goods at sustainable profits," says de Kock.
"Banks also need to understand the imperative of effective partnerships to ensure that the full definition of transformation comes to fruition. The latter also obliges banks to augment the capital provided to business with the right and comprehensive program," says de Kock.
Nedbank How much more transformed must it be , go to a bank and find a white Person ?
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