BY JULIUS DELAHAIJE The effects of the coronavirus (COVID-19) pandemic continue to be felt across all sectors globally with the rise in number of positive cases increasing daily as fatalities escalate. The World Health Organisation (WHO) and Ministries of Health have issued directives to stop the spread of the virus by stay-at-home and social distancing measures. Many organisations have embraced remote-work-from-home strategies as part of the Business Continuing Planning (BCP) systems to ensure client service and office support remain uninterrupted. This means that most physical offices remain deserted, relying on private security providers to continue enhancing safety and security of…
Author: NBM CORRESPONDENT
Sub-Saharan Africa’s investment banking has dropped to an estimated $128.2m in the first quarter of 2020, down 15% from last year’s strong start. This is according to Refinitiv’s 2020 first quarter investment banking analysis. Advisory fees earned from completed mergers and acquisitions (M&A) transactions generated $33.5m, down 38% year-on-year, while syndicated lending fees declined 47% to $35.7m. Equity capital markets underwriting fees more than tripled to reach $36.7m, a first quarter total only exceeded twice since 2000. Bond underwriting fees increased 20% to $22.3m, again the third highest first quarter fee total since 2002 Almost one-quarter of fees in the…
Of the total contribution, Sh30 million is to head towards different initiatives that are specifically designed to assist individuals and businesses get through the pandemic. This will include a psychosocial support program with which the bank looks to provide a mental wellness care centre for COVID-19 patients, health workers, and caregivers. The program is also expected to offer 24/7 counselling services. The remaining Sh20 million is to be channelled to the COVID-19 Emergency Response Fund for the acquisition of personal protective equipment (PPEs) and other additional assistance for the health workers in line with the fund’s immediate priorities. According to…
Even though major tech conferences and events have been called off as a result of CIVID-19, Internationale Funkausstellung Berlin (IFA) has decided to go against the tide and go on with its upcoming event scheduled for September in Berlin in. Despite the fact that the trade show is still happening, it is to adopt an innovative new concept. This is following the government’s decision to put up restrictions such as a ban on all events with more than 5,000 participants until October 24. According to its organizers, Messe Berlin and gfu, they had anticipated this development and thus had been…
The African Economic Research Consortium (AERC) Senior Policy Seminar has placed a spotlight on fragility of growth in African economies, seeking to stimulate an informed policy dialogue and related policy-making aimed at reducing identified fragile contexts and building a more resilient African economic sector. However, social and economic issues that were already highly challenging have now become exponentially more serious due to the current COVID-19 health crisis and the catastrophic effect it is having on the African economies as well as the global economy. Despite decent economic and social progress achieved in the last two decades, growth in most African…
Apptivate Africa, a company keen on employee wellness and motivation schemes through a mobile phone-based solution is using M-Kula, one of its apps, to help employers ensure their employees eat healthy meals to help boost their immunity in a bid to combat the maddening Coronavirus. “Employers around the world are grappling with COVID-19. Key to combating this challenge is prioritizing the health of their employees by ensuring our merchants provide the healthiest meals possibly to help boost the staffs’ immunity which is the main defence against the virus in addition to other measures set by our medical professionals and the…
Amethis, an investment fund manager dedicated to the African continent, and its partners; Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Mauritian Commercial Bank (MCB) Equity Fund and International Finance Corporation (IFC) have entered into a partnership with Naivas, marking the acquisition of minority equity stake worth Sh1.60 billion ($15 million) into the Naivas Group. The investment is expected to help the company optimise business operations and further strengthen its corporate governance structures. According to David Kimani, managing director Naivas, the group is very excited about the partnership. “As we embark on our next phase of growth, having an experienced investor with us…
With two of the continent’s most ambitious industrial projects underway, Nigeria’s Dangote Group has achieved the seemingly-impossible with an SAP-led digital transformation that was completed in record time. “We want our refinery to be not just the largest single train refinery in the world but also the most modern and smart with the latest state-of-the-art technologies like SAP S4HANA 1909,” says Mr.Devakumar Edwin, group executive. According to Ramakrishna Potluri, head – IT & business applications (refinery), the Dangote Refinery and Fertiliser strategic business units upgraded their SAP landscape to SAP S/4HANA 1909 in mere six days. “The upgrade affected all…
BY VICTOR ADAR The concept of merry-go-round is a massive success story in Kenya. The only challenge, though, is that the informal nature in which they operate make it difficult for policy makers to evaluate exactly how valuable they are. They are, and have always been valuable savings vehicles. Our grandparents, and even parents had them, we have them and the younger Kenyans already have them. They help strengthen the social fabric by giving those who in some case would otherwise be strangers, a reason to become close and form deep friendships. They are vehicles for mentorship in society too.…
For business leaders, this is uncharted territory – yet the responsibility to quickly adapt and guide their organisations through these difficult times is immense BY JORDAN RITTENBERRY As the number of Covid-19 cases rises in Africa and industries scale back under restrictive but necessary lockdown rules, it is clear that the pandemic has dramatically altered our lives, perhaps permanently. For business leaders, this is uncharted territory – yet the responsibility to quickly adapt and guide their organisations through these difficult times is immense. More than ever, employees are looking to their leaders for information and for inspiration. Edelman’s 2020 trust…
