Jumoke Owodunni, a financial services executive and strategic adviser is the founder of RM Connect Africa. In this interview with NGOZI OKPALAKUNNE, she discussed the roles of Relationship Manager in driving financial literacy and economic growth across Africa. Owodunni, who is also a former Deputy General Manager and Head of Financial Institutions, West Africa at Stanbic IBTC and Standard Bank Group, stressed the need for CEOs and senior leaders of financial institutions to build regionally competitive Relationship Managers. Also, she spoke on other issues of national interest. Excerpts:
Do you think African banks are getting enough strategic value from their Relationship managers?
At a moment when Nigerian banking is undergoing its most significant recapitalisation in decades and African corporates are expanding across borders faster than ever, the question of what a Relationship Manager is actually capable of has never been more commercially important.
How is the role of Relationship manager changing as African businesses become more regional?
The Relationship manager’s role is moving from managing relationships to understanding businesses. As African companies expand across markets, the Dangote Group being one example, their banking needs become more complex. An RM who only understands the client’s immediate market may miss opportunities emerging elsewhere.
Are banks developing Relationship managers to be strategic advisers or primarily product sellers?
Many banks have made significant investments in RM development, but there is still an opportunity to shift the emphasis from product knowledge to commercial understanding. A strategic RM does not start with “What can I sell?” They start with “What is this client trying to achieve, and where can we create value?” That shift can fundamentally change the quality of the client relationship and ultimately the commercial value of the relationship for the bank.
What does a truly strategic Relationship manager bring to a major corporate client?
They bring perspective. They understand the client’s business, anticipate what may become important and connect the client to the right expertise within the institution. They also understand the client’s industry and, increasingly, the markets in which the client operates. The best RMs make the client feel that the bank understands where their business is going, not simply where it is today.
Why is cross-border market knowledge increasingly important for African RMs?
Because the client does not see Africa in the same way the bank’s organisational chart sometimes does. A Nigerian company expanding into Ghana, Kenya or Côte d’Ivoire is still one client, even though the bank may manage those relationships through different markets. The RM who can connect those perspectives becomes significantly more valuable. Cross-border knowledge is therefore becoming a commercial capability, not simply an interesting addition to an RM’s experience.
What are financial institutions missing when they focus RM development mainly on products and processes?
They can produce technically competent RMs without necessarily producing commercially insightful RMs. Products and processes matter, but they are only part of the equation. Banks also need to train their client-facing teams to develop curiosity, market intelligence, industry understanding and the ability to have strategic conversations with clients. That is where differentiation increasingly lies.
What role does peer learning and professional networking play in developing stronger RMs?
Some of the most useful market intelligence is not found in a presentation or training manual. It comes from someone who is actually navigating that market. An RM in Lagos can learn something valuable from an RM in Nairobi or Accra, not because their markets are identical, but precisely because they are different. Exposure to different perspectives expands how people think about clients, markets and opportunities.
What role do you think a Relationship manager can play in driving financial literacy and economic growth across Africa?
Relationship Managers are often one of the closest links between financial institutions and businesses, particularly SMEs and emerging enterprises. That gives them an important role beyond selling financial products.
They can help clients understand how to access finance, manage cash flow, structure their businesses and make better financial decisions. But they can also go further by helping clients understand opportunities beyond their immediate market and connecting them to the right financial solutions and expertise.
What is the biggest challenge facing Relationship managers across Africa? And what is the way forward?
I think the biggest challenge is staying relevant to increasingly sophisticated clients while navigating rapidly changing markets.
Clients want more than products. They want their bankers to understand their businesses, anticipate their needs and bring ideas that can support their growth. For RMs, this requires continuous learning, broader market exposure and the ability to think beyond their immediate market.
Financial institutions need to rethink RM development. It cannot be only about product knowledge, sales targets and processes.
We need to build commercial judgment, strategic thinking, industry knowledge and cross-border market awareness.
RMs also need opportunities to learn from one another. When an RM in Lagos can exchange perspectives with a colleague in Nairobi, Accra or Johannesburg, they gain insights that no classroom training can fully replicate.
Ultimately, if our clients are becoming more sophisticated and increasingly operating across African markets, our Relationship Managers need to develop at the same pace.
What led you to create RM Connect Africa?
I have spent much of my career working with clients and financial institutions across African markets, and one thing became clear to me: relationships are one of Africa’s greatest assets, but we do not always connect them across borders effectively. RMConnect Africa was formed to create more opportunities for senior Relationship Managers and client-facing professionals to meet, exchange insights, understand different markets and build meaningful professional relationships across Africa. It is about creating a stronger network around the people who are closest to clients and markets.
What do you want RM Connect Africa to become?
I want it to become a trusted Pan-African community for people who understand the importance of relationships in financial services. We will start with conversations, webinars and market exchanges, and build towards a flagship annual conference. But the ambition is bigger than events. I want someone managing an important client relationship in Lagos to know that they can reach a trusted peer in Nairobi, Accra, Johannesburg or another African market and have a meaningful conversation. That kind of network can strengthen individuals, institutions and ultimately the way business is done across Africa.
What would you say to CEOs and senior leaders of financial institutions?
Look beyond the number of RMs you have and ask what they are capable of becoming. Your Relationship Managers are often the closest people in your institution to your most important clients. Their perspective, networks and ability to understand the client’s world can be a significant source of competitive advantage. If African businesses are becoming more regional, our Relationship Managers need to become more regional too. This should be part of your growth strategy.
