BY ANTONY MUTUNGA Currency has changed forms many times over years. From metal coins to the now advanced crypto currencies, which are bridging the gap and reducing the cost of making and receiving payments in the global village. Other than crypto currencies, there is also mobile money. These two virtual money transaction innovations are edging out the physical money and the traditional ways of transacting According to the World Bank, Kenya has among the highest percentage of growth in remittance in Africa. However, high remittance costs by transfer firms significantly reduces what finally reaches the recipient country. This hurdle has…
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By Antony Mutunga In Shakespeare’s book, The Merchant of Venice, there was a Venetian Jewish moneylender, the main antagonist, who used to charge people exorbitant interest on loans. He went by the name of Shylock. This saw the rise of the term ‘shylock’ which refers to loan sharks or moneylenders who usually lend at a pretty high interest rate. Shylocks popularity was brought about by the increase in people’s expenditure and the long and difficult procedures one had to go through in order to obtain credit from financial institutions. In Kenya the shylock had found a place to call home…
The current expensive world makes it really tough for working folks to meet all their needs within the limited earning. This is the main reason; these people don’t have the savings, which can help them in the rainy day. That is why, nowadays more and more people are relaying on instant loans to get the needed help in tough financial times. People holding blemished credit records are also experiencing the easiness to get helping hand in need through the bad credit instant loans offered by some of the prominent lenders of the online loan market. It is the suitable monetary…
BY JAMES MULIRO Millions of Kenyans can confidently argue that M-Pesa is the best thing to have happened in the financial services sector in in their lives. It is no doubt that the service has revolutionalised the financial services landscape in the country and brought both the rich and the poor into the financial inclusion loop. Many things in the financial services sector have since changed. Banks are no longer taking chances. In the past, having a bank account was almost a preserve of the society’s high table. Getting a loan, however small it was, was a big deal. But…
By David Wanjala Change is inevitable. That is a given. The world is here due to the fact that movers and shakers of world’s influential democracies embraced change. But it is the rapid technological advancement; especially the revolutionary growth of the Internet that has disrupted convention in our times in a manner that has forced all and sundry to either conform or perish. In our December 2015 Issue, we focused on how social media has invaded and given the mainstream a run for their money. “Shape up or ship out, the social media’s message to the mainstream,” we said. The…
BY JANE WACHIRA A majority of us lead quiet, unheralded lives as we pass through this world. There will most likely be no ticker-tape parades for us, no monuments created in our honour. But that does not lessen our possible impact, for there are scores of people waiting for someone just like us to come along; people who will appreciate our compassion, our unique talents, someone who will live a happier life merely because we took the time to share what we had to give. Too often we underestimate the power of a touch, a smile, a kind word, a…
Five years ago, the promulgation of the Constitution of Kenya 2010 fundamentally restructured the Kenyan state and ushered in a new devolved system of government. Devolution was born of the real challenges that Kenyans had grappled with since independence including the need for accountable exercise of power, effective self-governance, equitable social and economic development, entrenchment of public participation, and the implementation of the subsidiarity principle in governance. Simultaneously, devolution was entrenched in the Constitution as a means of recognising and accommodating Kenya’s rich diversity and ensuring robust protection for minorities and marginalized communities including women. But we know that Constitutional…
BY VICTOR ADAR For Dr Pritam Singh Panesar, good tidings have begun flowing. The Panda Development Company boss had foreseen Naivasha town early this century as the next town for luxury homes. He started doing construction at an early age, before independence, and his upbringing has an impact on the person he is today. Back in the 1960s, the skills of Kenyan engineers were minimal, and giant projects were hard to come by. In those days, Panesar says, you could not do it if you did not know native language. Swahili was also a stumbling block leave a lone the…
By Dr Kellen Kiambati Success in 21st century careers depends on changing our thinking, strategies and behaviours to those that work in the new ever-changing and challenging environment. There is need to expand your knowledge, free up your thinking, and offer your inspiration and strategies to meet the challenges of the times. The art of managing is changing, and at a rapid pace. In today’s corporate world, managers are continually discussing the everyday nature of business and the effects on them but very few of them are properly focusing on managing itself. The new generation of employees entering the corporate…
BY CONTENT PRODUCTION MEDIA The announcement of his appointment as the Managing Director Ipsos-Synovate Kenya was published in the local dailies on the July 30 2014. He effectively took over from September 15 2014. In his first ever interview since he was appointed MD of the top tier Market and Social research firm in the country, Mr. Aggrey Oriwo breaks his silence. He peers into the future of the research industry in Kenya and Africa; at what the country should expect in 2016 all the way to 2021. In a candid conversation he looks at innovation in research, methodology, adaptability and…