CSCS CEO on how the company is responding to the COVID-19 crisis

The Central Securities Clearing System (CSCS) has recently seen a 22.8% year-on-year growth in returns to shareholders, with dividend payments approved by shareholders. Haruna Jalo-Waziri, the CEO of CSCS, sat down for an exclusive interview with CNBC Africa to discuss how the company is adapting to the challenges brought on by the COVID-19 pandemic. Jalo-Waziri highlighted the proactive steps taken by CSCS to ensure business continuity and efficiency during these uncertain times. One of the key changes implemented by the company prior to the pandemic was the migration of some of their applications to the cloud, allowing for remote work and seamless access to office resources. This foresight and investment proved crucial in enabling CSCS to continue serving the capital market effectively despite the lockdown measures. Jalo-Waziri emphasized the importance of prioritizing the health and safety of their staff, with many employees still working remotely to minimize health risks. Beyond their core services of depository and settlement of securities, CSCS offers innovative solutions such as an electronic document management system. This system streamlines workflow processes, digitizes documents, and enhances overall operational efficiency. Jalo-Waziri noted that the increased focus on digital solutions during the pandemic has further highlighted the benefits of such systems. In terms of financial performance, CSCS reported a significant dividend payout to shareholders, reflecting the company's commitment to delivering value amidst challenging market conditions. Despite the ongoing uncertainties surrounding the pandemic, Jalo-Waziri expressed confidence in CSCS' sustainable business strategy and resilience. The company has implemented various customer service channels, including a call center, website support, and online portals, to ensure seamless interaction with clients and stakeholders. Jalo-Waziri acknowledged the subdued market activity and lower trading volumes but remained optimistic about CSCS' ability to navigate these challenges and meet their objectives for the year. While the road ahead may be challenging, CSCS remains focused on serving the financial market with integrity and efficiency. As the CEO highlighted, adaptability and innovation will be key in sustaining growth and shareholder value in the current environment.