Chief Executive Officers (CEOs) play a critical role in business and overall economic performance.
In fact, a 2015 study by Weber Shandwick and KRC Research- The CEO Reputation Premium ‘Gaining Advantage in the Engagement Era’, reported that Global executives attribute 45% of their company’s reputation to the reputation of their CEO!
In a move to get these top decision-makers together; under one business development and networking forum, The CEO Magazine has launched a new platform dubbed The CEO Club.
After the unveiling of this formation, The CEO Magazine had a brief chat with the mastermind of this platform, Muhereza Kyamutetera. Here are the nitty-gritties.
What is The CEO Club?
The CEO Club is a Thought Leadership initiative, led and owned by CEOs. Working with these business leaders, The CEO Magazine, through the CEO Club, seeks to give Ugandan CEOs more influence in shaping the public policy, regulatory environment and public opinion on the key issues of the day.
The platform will also offer a unique opportunity for club members to leverage the strength of numbers to also manage some of the issues directly affecting their individual businesses/sectors- thus contributing to achieving their business goals.
What makes The CEO Club different from other top executives’ formations already running?
The CEO Magazine Uganda’s oldest and most respected local business magazine is evolving from just reporting about business to a leading multimedia publication that reports for business. This is born out of the realization that businesses today are faced with an increasingly unfavorable media environment. Everyone seem to be out to get business on the wrong side and no one seems to be interested in accurately speaking out for business.
The CEO Club is therefore a close collaboration between The CEO Magazine and business leaders, so as to give business an objective, respected and factual voice; one that will stimulate the right conversations and lead debate across new and traditional media.
The CEO Magazine, will put at its exclusive disposal to The CEO Club, its print, online and event properties/assets as well its public relations capabilities thus creating a wider impact for the various engagements envisaged under this platform.
Why at this particular time?
There couldn’t have been better timing; doing business in Uganda is getting harder and harder.
Our economy is characterised by High Interest Rates and high costs of doing business; Uganda has one of the highest interest rate regimes in East Africa; hence poor private sector credit growth. Uganda right now has very low global competitiveness rankings driven by big tax burden, corruption, inflation, access to financing and inadequate supply of infrastructure- leading to declining FDI.
Letters to My Younger Self: Robinah Siima — “Success Is Quieter, But Richer”Declining FDI is largely to blame for declining export revenues and a Higher Import Bill, leading to a weak currency- the UGX has over the last 10 years depreciated by 98.4% against the US dollar from an annual average of 1,723.5 in 2007 to UGX 3, 420.5 in 2016.
We also see very low tax-to-GDP ratios; only 25% of the economy paying taxes, thus a higher tax burden for the few who are paying and a widening fiscal deficit- projected to rise to 5.1% of GDP in FY2017/18 from 4.6% in FY2016/17.
That is why the overall business confidence index 59.07 in September 2017 is low. We do believe it is time for all business leaders to stop speaking as individuals- it is time for them to speak out with one voice.
It is time for them to come together and engage government on collective efforts on how to stimulate this economy.
Why should top CEOs join this club?
The CEO Club will provide opportunities for its members to learn new ways of thinking, discuss challenges faced in business, exchange ideas and engage with local, national and international business leaders who are at the forefront of business development and thought.
To facilitate the exchange of ideas and to create business opportunities, the Club through The CEO Magazine will conduct various seminars, conferences, interactive sessions, CEO roundtables, peer group briefings, business delegations and well written articles throughout the year on a variety of business subjects and provide opportunities for personal, in-depth sharing of expertise, new perspectives approaches and general industry challenges addressed to stakeholders like government, stakeholders like regulatory authorities like Bank of Uganda, Uganda Revenue Authority.
Who is eligible?
The CEO Club is open to EXCO members. That is to say senior management of all private companies with operations in Uganda. While from its name, our main target is the CEO, we also appreciate the fact that these people are some times very busy. As such, they can always delegate and have their top executives represent them. This includes all company chiefs/ heads of departments (CFO, CMO, CCO, CTO, COO, CIO and Corporate Affairs Director among others)
What are the requirements for joining?
All private companies operating in Uganda (local or multinational) are free to join. We intend to accommodate as many members as possible. You may choose to immediately join and start to enjoy the benefits or give it more thought and join whenever you are ready.
For more details, get in touch with Steven via email at sbaryevuga@thefirm.co.ug