ICAM 2024 Annual Lakeshore Conference: Navigating Economic Uncertainties with Strategies for Growth and Resilience
Opening function
The 2024 ICAM Annual Lakeshore Conference, held at Sun n’ Sand Hotel in Mangochi from September 19th to 21st, 2024, attracted an impressive gathering of accountancy and finance professionals, business leaders, and thought influencers from across Malawi and beyond. Themed “Navigating Economic Uncertainties: Strategies for Growth and Resilience,” the conference highlighted the critical role of accountants and financial experts in steering businesses and institutions through the dynamic global and local economic landscape.
ICAM CEO: CA. Noel Zigowa
In his welcoming remarks, ICAM’s Chief Executive Officer (CEO) set the tone for the conference by acknowledging the invaluable contribution of attendees and stakeholders. He expressed deep gratitude for the widespread participation, underscoring the importance of the event in equipping professionals with the knowledge and skills to navigate an increasingly complex economic environment. The CEO noted that the pace of global change, driven by rapid technological advancements and shifting geopolitical landscapes, has placed unprecedented demands on financial professionals to continuously adapt and innovate. He stressed the need for collaboration, innovation, and continuous learning, encouraging participants to engage actively and seize networking opportunities during the event. The CEO concluded his remarks by warmly introducing ICAM President, CA. Moffat Ngalande.
ICAM President’s Address: Anchoring resilience in uncertain times
ICAM President: CA. Moffat Ngalande
In his speech, ICAM President CA. Moffat Ngalande delivered a compelling overview of the conference theme, “Navigating Economic Uncertainties: Strategies for Growth and Resilience.” He contextualized the significance of the theme in light of Malawi’s current economic challenges, which include inflation, the global impacts of COVID-19, and disruptions in international trade and supply chains. The President stressed the pivotal role of accountants in providing strategic guidance to businesses, government, and institutions to foster resilience and ensure sustainable growth. He commended ICAM’s continuous efforts in advancing national development through sound financial practices and active engagement with stakeholders, aligning these efforts with Malawi’s Vision 2063.
The President’s address paved the way for the Guest of Honour, Dr. Kwanele Ngwenya, CEO of NBS Bank, to formally open the conference.
Guest of Honour’s Keynote: Strategic resilience amidst global challenges
Guest of Honour: Dr. Kwanele Ngwenya- CEO NBS Bank
Dr. Kwanele Ngwenya’s keynote address was a powerful exploration of strategic resilience in navigating economic uncertainties. His speech touched on a range of global and national challenges, including the lingering effects of COVID-19, geopolitical tensions, and the growing threat of climate change. He emphasized the need for Malawi to focus on fiscal discipline, domestic resource mobilization, and strategic investments in key sectors such as agriculture, energy, and technology. Financial inclusion was highlighted as a key driver for fostering economic growth and resilience, and Dr. Ngwenya called for enhanced collaboration among stakeholders to stimulate innovation and drive national progress in alignment with Malawi Vision 2063.
Day One: Fostering emotional intelligence and business excellence
The first day of the conference featured a rich blend of presentations from leading experts, starting with Cecilia Saidi, Certified Life Coach and Performance & Relationship Coaching expert, who spoke on “Emotional Intelligence to Navigate Tough and Versatile Work and Business Environments.” Her engaging session highlighted the critical role emotional intelligence plays in managing stress, improving interpersonal relationships, and leading teams effectively during challenging times.
Next, CA. Steve Ottoman, Chief Financial Officer of Lilongwe Water Board, took the stage with his insightful presentation on “Risk Management: The Pathway to Business Excellence.” His talk emphasized the importance of identifying and mitigating risks as a foundation for achieving long-term business success in today’s unpredictable economic environment.
The morning sessions concluded with a remarkable presentation by Prof. Ngeyi Kanyongolo, Vice Chancellor of Catholic University, on “Emerging International Standards on Business, Decent Work, and Development.” She offered a comprehensive analysis of how global business standards are evolving and the implications for organizations aiming to balance growth, ethical practices, and sustainable development.
As the day drew to a close, attendees participated in ICAM’s Annual General Meeting (AGM) before enjoying a vibrant cocktail event. The cocktail featured a surprise performance by local artist Kingston Zeze, who delighted the crowd with his popular songs, adding a cultural flair to the evening.
The day was capped off with an enlightening session by CA. Robert Mdeza, Group CEO of Trinity Energy Ltd, Sudan, whose presentation on “Demystifying Artificial Intelligence for Accountants and Business Professionals” offered a forward-looking view of how AI is transforming the financial landscape. He emphasized AI’s potential to enhance efficiency, accuracy, and decision-making in the accounting profession.
Day Two: Sustainability, Investment, and Leadership Insights
The second day continued with a lineup of dynamic speakers, beginning with Edna Kimenju, Manager of the Assurance Financial Institutions Services Team at Deloitte East Africa, who gave a deep dive into “Sustainability Best Practices and ESG Strategy.” Kimenju’s session underscored the growing importance of Environmental, Social, and Governance (ESG) strategies in building resilient businesses that can thrive amidst both economic and environmental challenges.
Wise Chigudu, CEO of NICO Life, followed with his presentation on “Harnessing the Financial Ecosystem to Create and Develop Sustainable Businesses in Malawi.” His session explored the potential of leveraging Malawi’s financial ecosystem to support entrepreneurship and sustainable business growth, particularly in sectors such as agriculture and renewable energy.
The final presentation before the keynote came from Towera Jalakasi, Managing Director of Naturals Limited, who shared her personal experiences in navigating the “Practical Challenges in an Entrepreneurship Journey.” Jalakasi captivated the audience with stories from her own business, Khathi Khathi Malambe Juice, offering insights on overcoming funding challenges, market access issues, and the regulatory landscape.
Dereck Bbang: Keynote Speajer- Unique Speakers Bureau
The day concluded with a captivating keynote address on “Leadership in Turbulent Times” by Derrek Bbanga, a strategist and executive trainer with the Unique Speakers Bureau. Bbanga’s presentation brought a fresh perspective on how leaders can cultivate resilience and inspire their teams to overcome challenges in uncertain times, leaving the audience with actionable insights on leadership.
Conclusion
The 2024 ICAM Lakeshore Conference helped to address the pressing economic uncertainties facing Malawi and the global community. Through a mix of expert insights, networking, and engaging discussions, attendees were equipped with strategies for growth and resilience in an ever-changing business environment. As the conference came to a close, participants were left with a renewed sense of purpose and the tools to foster innovation, resilience, and strategic leadership in their respective fields.
Editor-in-Chief