Launching Innovative Digital Brands

Ankur Joshi:

Hello and welcome to the Nuclei Podcast Series, Digital DNA. I'm Ankur Joshi, your host and the founder/CEO of Nuclei, a global fintech firm working with 20+ banks across Asia. Today, I'm delighted to host Mr. Nahim Bassa, the Senior Vice President at Bank Aljazira, serving as the Group Head of Strategy, Digital Transformation, Marketing, and PR. His innovative leadership has guided organizations through digital transformation journeys. It's my pleasure to welcome you to our podcast.

Nahim Bassa:

Thank you. It's a pleasure to be here today. And thanks for the warm welcome. I might ask you to handle my introductions at business meetings. Today, I want to share some life principles and insights into my career, offering perspectives for those navigating their journeys in today's dynamic world.

Ankur Joshi:

Absolutely. Before we delve into your professional journey, let's rewind to your formative years in South Africa. Share some experiences that shaped you and are still significant.

Nahim Bassa:

Certainly. I'm a proud father of two, aged seven and eight, and a dedicated husband. While work demands much of my time, I believe in pursuing something worthwhile.

Work-life balance is a myth; passion and pride should guide your efforts.

Growing up in 1980s South Africa amid apartheid was challenging. Racial segregation shaped our lives, but amidst the negatives, various cultures thrived. Transitioning to democracy in 1994, I lived through a transformative period influenced by figures like Mahatma Gandhi and Nelson Mandela. These experiences provided perspectives on hardships, race relations, and economic battles, shaping my understanding of purpose beyond corporate success.

Ankur Joshi:

Fascinating. Can you share specific defining moments or examples from that period?

Nahim Bassa:

Certainly. The 1980s were tumultuous, marked by apartheid's height. People were categorized by skin color, leading to color bars and family separations. Despite the challenges, there was resilience. Figures like Mahatma Gandhi and Nelson Mandela played pivotal roles in advocating peaceful resistance and driving change. Living through this period made me realize the importance of understanding others' hardships and questioning one's purpose. It's not just about climbing a corporate ladder but creating a positive impact on family and society.

Ankur Joshi:

Can you share some examples of defining moments during that time? You were part of history, and many might not have lived through it. It would be insightful for those who have only read about it.

Nahim Bassa:

I'm going to share my experience about my mom.

So, my mom grew up in the 60s, a few decades before I did, raised by my dad. Looking at my mom, she attended what was called a former house of delegates school, classified by race groups, where certain races had to stay together. Despite these limitations, she was very successful, matriculating with distinctions. In the 60s and 70s in South Africa, being part of a small population with limited options due to skin color, she faced challenges. There were no sponsorships or bursaries, and international travel was difficult, especially for non-Caucasians.

My mom aspired to study medicine and received two bursaries, one for a medical college in South Africa and the other to study French at the Sorbonne in Paris. Unfortunately, my grandparents' situation was precarious. My grandfather, once working in a plastics factory, had to shift to delivering paper due to industrial changes. My grandmother was a stay-at-home mom. This forced my mom to find a job to support the family, illustrating the challenges faced without options for reskilling or online programs.

Reflecting on my family's experience, I wondered how different their lives would have been with savings or insurance. My mom became a teacher, impacting many students positively, but the financial stress was immeasurable. There were no educational savings policies then.

When people ask why I entered consulting and banking, it's to make a positive impact on society, reducing financial stress and unlocking creativity. South Africa remains highly unequal, and my goal is to contribute to accessible financial solutions, easing lives.

Considering the economic and political context in South Africa, there was a lack of mixing in schools, transitioning in 94 to an open society. Access to formerly restricted schools was eye-opening, emphasizing the importance of closing divides and expanding opportunities. Financial services, once centered around mining, attracted talent, playing a crucial role in societal change.

Reflecting on my mom's experiences, I believe in providing people with greater choices and freedoms to have a significant impact. Individuals who overcome challenges often become the infrastructure supporting communities and small businesses. My focus is on contributing to change, leaving a legacy that goes beyond personal success.

Ankur Joshi:

The way you articulated your reasons for entering banking, connected with your personal experiences, is powerful. This internal drive, unrelated to external motivations, resonates deeply. Your vision of making a positive impact on the world through financial services and consulting aligns with a broader societal goal. It's not just about a job but following a vision, and your leadership style reflects this, garnering support from those who believe in the same purpose.

Your story serves as a reminder for everyone, emphasizing the importance of understanding why we do what we do. Working in financial services isn't just a job; it's a means to reduce inequality, similar to the challenges your mom faced. If each person can contribute, even on a small scale, to bridging gaps and reducing inequality, it creates a meaningful narrative.

Thank you for sharing your story; it resonates and serves as a reminder to tap into personal motivations, fostering authenticity, and contributing to positive change.

Nahim Bassa:

Thank you. It means a lot to me. Everybody has their own personal story. One of my favorite interview questions is "tell me about yourself." They'll share their CV, achievements, and then I ask, "Why are you here?" Often, they say it's for the job, but I push further, asking why they are on this planet. It's a great conversation starter, crystallizing a person's reason for being. The world is full of challenges, but it's also full of hope and beauty. Hope is something you can't kill; we all hope for a better future. At the end of the day, you want to create a better future for your children and do something your parents would be proud of. If you achieve that, you've done well in life. The byproduct is success, which can be social stature, a Ferrari, or achieving personal goals. It's essential for people to tap into their authentic selves, especially in a working context. Great things happen when individuals work collectively as a team.

Ankur Joshi:

Absolutely, absolutely. We spoke earlier about your love for books, and you are well-read, often recommending books to everyone. Let's go back to when this love for books started. Your kids have the opportunity to read a lot, and it's a habit that can change worldviews. I started reading regularly when I was 23, and that's a regret. I wish someone had encouraged me at a younger age. When did your love for books begin, and how has it helped you develop? Any book recommendations?

Nahim Bassa:

We had an unfair advantage in the '80s due to limited screen time. With only one TV channel and no Netflix, we had to be creative in how we used our time. Reading books provided a great avenue. My mom, an English teacher, and freely available libraries were factors in my favor. Reading became my superpower, helping me gain knowledge and challenge beliefs. Reading not only provides ideas but also challenges long-held beliefs, allowing you to formulate your own opinions. In a world where answers seem readily available on phones, critical thinking skills are crucial. Despite working in digital, I love the tactile feel of a book. It's a habit that's become part of my life, even if it's just 10 pages every night.

Ankur Joshi:

For me, the best time to read books is during flights, free from distractions. Turning off the phone and opting out of Wi-Fi creates an ideal environment. Building a reading habit by dedicating five minutes every day can put you in the top percentile globally.

Nahim Bassa:

As you grow in your career, synthesizing information becomes crucial. Being a good reader helps you quickly analyze presentations or decks, saving time. People learn differently; some prefer audiobooks or digital screens. The key is to be a lifelong learner, keeping your energy levels high and accomplishing more. Lifelong learning is uncomfortable but essential for personal growth. It opens up opportunities for networking, both professionally and socially. Even in my recent return to university, I was among a diverse group, learning from different perspectives. Everyone is on their learning journey, growing and acquiring new skills. Keeping in touch with people from university alone is the price of any course.

Ankur Joshi:

Absolutely, I couldn't agree more with you. I'll hold you to the book recommendations.

Nahim Bassa:

Yeah. Listen, everybody asks me, it's like soccer teams, who is the best soccer team, right? You can only have your personal favorite. No team for me will be better than Liverpool.

Huge supporter, although my wife's family is Man United, right? So that obviously creates some conflict, but it's nice to tease people about.

In terms of favorite books in different categories, the one that blew my mind recently is a trilogy, "The Three-Body Problem." If you're into sci-fi, read it. It's by a Chinese sci-fi writer, non-fiction writer, an amazing book. The premise is fantastic, addressing humanity's choices across eras. It's a series of three books, about 400-500 pages each, well worth the read.

I think that's a great book from a sci-fi perspective. From a leadership book perspective, definitely Simon Sinek's books. A huge fan of him, not just for the topics but also the way he communicates. He touches a lot of people and helps them think things through. Everyone knows his famous talk, “Start with Why,” but I think his better one is “Leaders Eat Last.” A really good book. I've been privileged to meet him a few times and attend some of his talks. Definitely go there for leadership.

In economics, probably "The Changing World Order" by Ray Dalio is very, very good. Also, "Sapiens" is a good one about humanity. For brand books, anything from Richard Branson is always good. It's a quick read. What I like about his books is that he was never an extrovert; he's highly introverted. It challenges the belief that quiet people can't be successful or great marketers. It shows how you can learn and adapt your personal skill and style to create a global brand. From a financial services banking perspective, there are many good books. Probably Chris Skinner's books, pretty good about the future of banking, like "The Future of Money." Also, a great book, quick read but with great examples of unheard banks or financial institutions, would be "Build a Brand, Not a Bank."

For comics, books from Asterix and Obelix and “Tintin” are favorites. Although later in life, you realize there's some limited racism in Tintin. But Tintin and Asterix were definitely favorites from a comics perspective.

Ankur Joshi:

Great, nice, thank you so much for this. I really appreciate the way you have gone into the details and categorized them. Really appreciate it, thank you so much for that. Moving on to your professional, I'm really glad that we had those two topics covered in length. But let's just get to your professional; you had a long stint as a consultant, then you decided to move into banking. Was that, again, as we spoke earlier? Natural move because you wanted to have a bigger impact on the world? Is that the core reason behind that move? And it could be a short answer, but how was the transition work for you? What are the challenges that you faced by transitioning from consulting to banking?

Nahim Bassa:

So, coming out of university, I really had this burning ambition to make a positive impact on society. Typically, you have a range of big companies that come to universities to find talent. You get companies like big tobacco firms; that's your thing. But clearly, that would have created an issue with where I want to go and what I want to do. There were consulting companies that offer a great wide breadth of development across various institutions. There are also big banks, FMCG like the unities of Procter and Gamble, excellent from a marketing perspective, brilliant in terms of packaging and understanding consumer trends. So, as a youngster, you're faced with a lot of options, which can be overwhelming.

I'm going to be honest about this; I went with the brand that was very cool and what everybody wants to get into. I think that helped. But I wanted to get into something generous enough for me to learn across a couple of dimensions because even though I was passionate about financial services and the impact, working in a bank or a credit union is very different from what you might expect.

My advice to anybody is, try a lot of different things. You learn quickly about the things you like; maybe you don't want to be a generalist. Maybe you want to be a specialist. Maybe you want to play at the intersection of the two, between operations, technology, and business. Digital, right? That's your sweet spot. Also, you might want to do something where you learn the industry or specialize in the industry, like supply chain or procurement. So, pick something that gives you enough options. Girls and boys out there who know they've always wanted to do this, I have friends who always wanted to be engineers, nothing would dissuade them from that. It's not a one-size-fits-all answer. So, it depends. But I think my guidance to people is, try a lot of different things, especially in your twenties because your opportunity cost for learning is much greater than the opportunity cost of failing. If you challenge yourself enough in your twenties, you will have a wonderful thirties, forties, fifties, sixties, seventies.

Ankur Joshi:

Managing change and leading teams through change is complex, especially from a people perspective. What are your leadership principles? How do you handle change management?

Nahim Bassa:

First, be a painkiller and vitamin infuser. Don't just admire problems; take charge to change or resolve them. Second, understand you're performing a role, looking after your team for growth and development. Third, it's not about you; it's about the team and the people around you. Fourth, have a core purpose, communicate often, be authentic, and trust people. Fifth, pay attention to your well-being and your team's. Occasionally, look around and offer help. Make a positive impact on the people around you, and success will follow.

Ankur Joshi:

Interesting insights. One personal question: What is the kindest thing someone has done for you?

Nahim Bassa:

A few years ago, someone left a thank-you note on my desk. Little gestures, like notes or gifts, go a long way in acknowledging the challenges change agents carry. Pay it forward; small acts make a big impact. Remember birthdays in your team and give them the day off.

Ankur Joshi:

Thank you for sharing. It's been a pleasure chatting with you.

Nahim Bassa:

You can find me on Twitter and LinkedIn. Feel free to reach out. Happy to share my experiences and connect with the right people.

Ankur Joshi:

Thank you, Nahim. Bye.

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