At the onset of the pandemic, the Board was faced with the responsibility of ensuring the liquidity of the business and preserving the jobs of our staff who have been loyal to the company for all these years. It was the first time we were faced with uncertainty regarding the future. Though there was an earlier wave of uncertainty in the industry in regards to the clean-up of the sector, Nimed Capital was certain of crossing that bridge because we had everything in order.
This uncertain future posed by the pandemic, made us to make strategic decisions on how fast we will recover from the crisis and how far we will travel post-pandemic. We leveraged on our earlier investments in digitizing our processes to minimize the impact on our business. This put us a step ahead of our peers who lacked digital support and were now being forced to now go digital.
Though the COVID-19 crisis exposed key weaknesses in enterprises regarding work conditions and contingency readiness, the responses we put to the pandemic had the tendency of permanently affecting our balance sheet and the productivity of our staff during and after the pandemic.
As such we had to find new ways to survive and grow because of the susceptibility of the fund management sub sector to tremor. This included innovations, creativity and imbibing in our staff the entrepreneurial spirit to solve problems and look out for opportunities in the new environment that accompanied the pandemic.
In response to the crisis, we developed adaptive innovations which were generated in-house with the emphasis on it being simple in the face of scarce resources. This was in response to the evolving customer expectations, changes in the lifestyles of our clients and prospective clients and the changing market structures and dynamics. We adapted our technologies and processes at relatively low cost in the running of the business which was visible in our service delivery and management methods.
We maintained an uninterrupted channel of communication to our clients in order to give them that confidence to retain their investments with us as we maximize their returns and protect their value. This sent a strong signal to them that we have experience in navigating through the volatilities and staying afloat.
We as well anticipated how the post-pandemic phase of our business should look like. Which gave room for the setup of comprehensive processes for the re-establishment of sustainable footing as well as the related organizational and technological innovations that will support the broader changes in societal and economic life that accompanied the pandemic.
Our success was hinged predominantly on our flexible adaptation to market changes and our belief in the fact that we do not grow weaker in our quest for innovation to optimize our services but instead new energy to become agile and resilient against our peers in the industry.