#CIO100AwardsEA: Equity Group CEO says Majority CIOs will be future CEOs

Dr. James Mwangi the CEO of Equity Group has predicted that majority of future CEOs will come from CIO position.

Dr. Mwangi was speaking during the 2016 CIO100 Symposium and Awards, East Africa’s most powerful gathering of CxOs, senior IT and business executives in East Africa. The two-day Symposium involves presentations on leadership, innovation and business strategy and knowledge sharing on the latest opportunities and challenges in a fast-changing world.

His presentation, “What CEOs expect from CIOs” was punctuated by bold statements in which he advised CIOs to innovate or go into oblivion. He explained that as such, “CIOs are the nerve center of organisation,” he said and went ahead to explain that CIO’s performance is not evaluated by the CEO but by everyone dealing with the organisation. He noted that, ‘So the CIO position should be the best paid in the organisation’. He also observed that the CIO position is the greatest threat to the organisation if not well handled.

The Symposium attracted more than 300 participants from all over East Africa. Others came from the UK, UAE and south Africa.

He revealed that the current turnover of CIOs is about 6 months at different companies. He also said, “No tech is being given a lifespan of over 10 years in the era of disruption.”

Dr. Mwangi is currently heading a Bank – Equity Bank that is leading in Innovation in Eastern Africa. The Bank recently unveiled 10 new digital banking products their by disrupting the market with a the potential of doing away with Brick and Mortar (mostly bank branches).

During his keynote presentation, he said that, “I innovate not because I am bold but because I am scared.” He was alluding to the fact that his bank was responding to the demands of the ever-changing market environment. He therefore challenged CIOs to be innovators.