Courteville Business Solutions 9-month results with CEO Adebola Akindele

Courteville Business Solutions, a leading provider of e-commerce solutions and software in Nigeria, has reported positive growth in their nine-month financial results despite facing challenges brought about by the COVID-19 pandemic and economic disruptions. In a recent interview with CNBC Africa, Adebola Akindele, the Managing Director and CEO of Courteville Business Solutions, discussed the company's performance and strategies for navigating the current economic climate. Akindele highlighted the impact of the COVID-19 pandemic and subsequent disruptions on the company's operations. He mentioned that while the company faced challenges such as increased expenses in personnel due to staff adjustments, they were able to improve their profit from 10 million to over 50 million by the end of the third quarter. Akindele attributed this growth to the resilience of the company and the positive trends observed in the last few months. One key area of focus for Courteville Business Solutions has been diversifying their revenue streams away from their traditional auto-registration business. Akindele mentioned ongoing collaborations with regulatory bodies such as NAFDAC and FIRS, as well as the expansion of their e-commerce business and software applications. These efforts have already shown promising results, with the non-auto-registration sector accounting for about 20% of the company's total activities. Cost savings have been a significant challenge for Courteville Business Solutions, with direct costs tied to exchange rate fluctuations. Akindele acknowledged the impact of rising costs on the company's profit margins but expressed confidence in the company's ability to manage and overcome these challenges by focusing on expanding business volume. Looking ahead to 2021, Akindele emphasized the importance of agility and flexibility in response to the uncertain economic landscape. He noted that the company's long-term strategic plans had to be reevaluated in light of the COVID-19 impact, and highlighted the need for continuous adjustment and adaptation to market conditions. Despite the ongoing challenges posed by the pandemic and potential second waves, Akindele expressed optimism about Courteville Business Solutions' resilience and ability to thrive in the evolving business environment. As the company continues to navigate economic challenges and focus on driving growth across multiple business sectors, Akindele's insights offer valuable perspectives for investors and stakeholders interested in Courteville Business Solutions' performance and strategies in the Nigerian market.