The country currently records an estimated 3, 000 successful or failed attacks every month as per ICT governance organization ISACA, formerly known as (Information Systems Audit and Control Association). Social engineering, which is the psychological manipulation of someone to inadvertently divulge confidential information is one of the main feeder tactics that cyber-criminals rely on to target both individuals and organizations. One tool in social engineering is phishing. This is a form of identity theft where cybercriminals try to obtain private details such as usernames, passwords, and credit card details by masquerading as a trustworthy entity. Often delivered via emails, it…
Author: Editor
BY PETER WANYONYI Cloud services and similar virtualised offerings have taken over the world of information and communications technology in much of the developed world. Few, if any, corporation in the West and Asia still maintain server rooms and vast installations of software and platforms on their premises – a wasteful and error-prone undertaking that is difficult to justify in the presence of lower-cost cloud alternatives. But, as with any other IT subject, cloud services are overflowing with acronyms, combinations and opt-outs that can be mind-boggling. And although Kenya appears ready for cloud services at last, it is vital to…
Managing your finances; checking account balance, paying bills, cash transfer… is nowadays pretty normal to do all that and many more, online. But are you sure you are doing it in the most secure way? Cyber security or (insecurity) in Kenya is the single biggest threat to business in terms of the consumption and use of Information Communication Technologies (ICT). Actually, over the recent months we have seen a rise in cases of cyber-attacks such as ransomware and data leakage, some of which have even gone undetected. One such incident that went viral on regional social media circles involved a…
BY VICTOR ADAR Hear individual investors talk about their journey to the top, you get a clear perspective of what being enterprising means. At times they burn, but never throw in the towel hoping that at the end of it all things will change. Consider the case of start-ups for example; some flourish while others are hammered in their first year of operation. It is at the back of these challenges that an investment management firm is embracing a model that aims at creating a monster of enterprises by connecting investors and entrepreneurs to business and funding opportunities, a move…
BY CHRISPINE JUMA The lake region, particularly Suba, is known to be an area that experiences excess rainfall and also goes through devastating dry spell and people have to walk several kilometers to get water from the lake. However, there is a new light for people who come from this area, watermelon is doing pretty well in the place. Investing only Sh20, 000 on a one acre piece of land, Gad Aguko, a 24-year-old Kenya School of Law student managed to sell the produce to a tune of more than Sh200, 000 in his first ever attempt last November, having…
BY NBM WRITER It is amazing, according to the latest Kenya Economic Update, a report prepared annually by the World Bank, National Treasury and Kenya Economic Roundtable, how many Kenyans have lived on and used land but never thought of any formal documentation of their rights. People who hold secondary and tertiary rights (women who often control but do not own parcels for food production; that lot who own trees, but not land) are usually the disadvantaged group. “These users of the land are considered legitimate rights’ holders due for compensation. In some countries, their legitimate customary rights are recognized…
Industrial and Commercial Development Corporation (ICDC), has reviewed its cost of loans to 3.0% above the CBR (Central Bank Rate), a boon to small and medium enterprises. The Corporation, effective, from November 1 2016 started charging interest on loan facilities at 13% on average, which is 1% below the commercial banks’ lending rate. The move is meant to help young businesses and entrepreneurs at various stages of their business cycle to spur growth by leveraging on the medium and long-term loans offered by ICDC. The state-owned development finance institution said its Board had resolved to review the cost of loans…
BY PROF. NUNO FERNANDES Financial technology (FinTech) is hot. Once a highly regulated industry dominated by large banks, FinTech companies around the world are impacting all areas of financial services. Many industry observers, such as Forbes, which in 2015 published its first ‘FinTech 50’ list of innovative companies, predict that we are entering a FinTech-led digital disruption phase that will challenge existing business models in retail banking, investments and currencies. While some FinTech companies such as WePay and PayPal have gone public, the majority of FinTech companies around the world are startups that are struggling to scale. Senior Solution, a Brazilian…
BY JANE WACHIRA The consumer is the king in the free market economy and vendors are supposed to be guided by his or her very thought process. So important is he that Article 46 of the Kenyan Constitution is on consumer rights. Part VI of the Competition Act of Kenya is also dedicated to consumer welfare. Anyone interested in the task of consumer protection has to be well versed in various laws and not merely with the Consumer Protection Act. They should have knowledge of laws relating to contract, sale of goods, insurance. In addition to the aforementioned laws, one…
BY VICTOR ADAR For Fahim Ahmed, opportunities abound with tea. Launching attitude teas in end of October, the Managing Director for Gold Crown Beverages (Kenya) Limited knew one thing – tea is not only for the old but also for an ignored generation, the Millenials. And the push to entice a young clientele with flavoured tea is what is currently at the bottom of his heart. Mr Ahmed’s out of the box type of thinking is what birthed 11 Attitude Teas, themed variants of teas spotting exciting colours, flavours and aroma with addition of different herbs. “It was born out…