AYO CFO Pride Guzha explains that the company’s increased revenue is a result of its subsidiaries’ thriving performance in 2023, as well as collaboration.
Ayo Technology Solutions (AYO) has reported a 28 percent increase in revenue for the year ended 31 August 2023. According to AYO CFO Pride Guzha, this success was largely due to its subsidiaries’ ability to thrive in a challenging environment. “Their resilience to operate in such an environment and yield such results has been outstanding,”
He explains that, despite grappling with negative publicity and banking challenges that have left many subsidiaries without credit facilities, these entities have managed to still drive revenue growth, further underscoring the quality of products and services they offer.
“The same resilience echoes through the teams I work with at head office, as well as through our regular scenario-planning session, which help us to mitigate most challenges,” he says.
Pride adds that the journey through the fiscal year has been marked by an all-hands-on-deck approach, fostering collaboration and ensuring they achieve their goals on time. “Because we are faced with several concurrent challenges that go beyond the typical toughened economic climate and all that comes with it, we have found that by creating and deploying teams that focus on the different challenges being faced works the best for us.”
He explains that each team will triage their respective challenges and assign champions to deal with the matters in an efficient and effective manner. “This approach also frees up the necessary personnel to concentrate on the operation of the company itself.”
Looking ahead to 2024, AYO’s finance department is poised to support the company’s growth and diversification initiatives through various strategies. “We have created forums for our underlying subsidiaries’ CFOs and financial managers to brainstorm and leverage each other’s expertise, as well as ours,” Pride explains.
While each operation is independent, AYO applies a family approach to the business as a whole, he adds. “We believe in collaboration, as essentially, we are all in this together.”
