The semi-finalist judging panel for this year’s Africa Netpreneur Prize Initiative (ANPI) have been announced. The ANPI is a prize competition for African entrepreneurs spearheaded by the Jack Ma Foundation. For the next ten years, the ANPI will be hosted across Africa culminating in an annual finale where ten finalists will compete in a pitch competition. The ANPI aims to support and inspire the next generation of African entrepreneurs across all sectors, who are building a more sustainable and inclusive economy for the future. Applications for the first ANPI officially closed 30 June 2019 and nearly 10,000 applications from 50 African…
Author: NBM CORRESPONDENT
BY VICTOR ADAR George Njuguna Nyutu was once a village boy who developed a passion for tours while still in campus. Holding a Bachelor’s degree from University of Nairobi and a diploma in Information Technology, he would work as a systems administrator in an insurance company before he found a home in self-employment. Mr Nyutu, who is now managing Bella Safaris, a tour and travel company that provides both local and international travel services and hospitality to corporates, individuals, couples and even groups, started his entrepreneurship journey in earnest in 2015. Back then, it was all of a courtesy car…
With the advancement in the real estate sector, as well as the various challenges facing the traditional funding methods in the sector, there has been a need to diversify the capital raising methods. This has given rise to innovative ways of funding. Of these new real estate funding options, structured real estate investment solutions have gained the most traction. They are solutions that are packaged by investment professionals to enable an investor access a return, supported by the performance of real estate, in a form that meets an investor’s needs. Structured products tend to have the following characteristics; They involve…
BY BRETT LANCASTER The financial sector is arguably one of the most interconnected worlds — and a clear target for cybercriminals. The World Economic Forum (WEF) has cited cyberattacks as a top global risk for several years running and its analysis shows that, across the globe, the good guys are not winning the fight. In recent years, threats against the financial industry have become more organised, sophisticated, and global than ever before. In early 2016, Bangladesh Bank famously became the victim of a cyberattack that resulted in an attempted theft. While only a fraction of the funds were stolen, the event…
Personal financial planning is a systematic approach towards managing one’s finances in an effort to maximize the use of these resources in order to achieve one’s financial goals and objectives. It is allocating resources optimally so as to realize one’s financial goals. Having a sound personal financial plan helps reduce and possibly eliminate financial distress arising from various responsibilities and unexpected situations. Financial planning, to a large extent, depends on one’s age, the responsibilities at hand, and future objectives. Personal financial planning is a continuous process that can be achieved through the following steps: Assessment This is the first step…
BY NBM WRITER T he National Transport and Safety Authority (NTSA) has been on a journey to transform the transport sector. First came the alcoblow whose lifespan was cut short through a court order. Recently, NTSA launched the use of the smart driving license to pay traffic violations fines instantly. The smart driving license is equipped with a wallet from where the driver will access funds to pay instant fines for the penalties ranging between Sh500 and Sh10, 000, which include speeding, riding motorcycles without protective gear, failure to fasten seat belts, pedestrians blocking free passage of cars, driving on footpaths and…
BY DENNIS NDIRITU In May 2013, the Daily Nation ran the unfortunate story of Pascalia Wasike, a nurse at Navakholo Sub-District Hospital in Kakamega County, who died in 2007. While her family was hopeful that her pension, her main investment, would keep her two daughters, 14 and 16, in school in her absence, they did not know that 12 years down the line they would still be engaged in a goose chase for the money, which from her family, has proven to be an erratic, tiring and time-consuming process especially with the devolution of health services, compounding the process further. …
BY WILFRED MUTUBWA Two significant moments for African economic regionalism happened in August. First was the signing of the Africa Continental Free Trade Area (AfCFTA) Agreement by Africa’s largest Economy, and most populous nation – Nigeria. Second, was the decision by the AU member states to seat the AfCFTA secretariat in Ghana. As a Kenyan, I must admit that I was at first conflicted when news of selection of Ghana as the seat for the headquarters of the continental economic Free Trade Area was announced. On the one hand, I mourned the loss of Kenya’s bid to host the secretariat,…
BY VICTOR ADAR It is not every time that you will share a room with inspiring industry leaders. You have probably admired how some individuals would take photos with corporate captains. Or, if you frequent formal dinners, you will hear those who are after the “how to” talks, often seeking ideas on how career x or y can be forged. Recently, when KCB launched its half-year financial report, it was not one of those days for one to better his or her personal growth but rather a chance to talk about performance and what it will take to grow balance…
Octagon Pension Services Limited has launched a digital pension plan that gives workers in the informal sector with inconsistent income a flexible platform to save for their retirement. Dubbed Mobikeza, the product has an added unique advantage of allowing a contributor to make unlimited deposits and periodic withdrawals via USSD or an app. So far 500 people have signed up for the product with the number expected to hit 1 million in the next 12 months. It was developed with the youth, Jua Kali artisans and workers in Micro-Small and Medium-Sized Enterprises in mind and has unmatched capability of convenience in on-boarding,…