According to Mercer’s 2019 Global Talent Trends study, over three-quarters (78%) of executives in South Africa predict significant disruption in the next three years, compared to 28% in 2018. As executives focus on making their organizations “future-fit”, significant human capital risks – including the ability to close the skills gap and overcome employee change fatigue – can impede transformation progress. Addressing these concerns is paramount, given that only one-quarter of executives rate their company’s ability to mitigate human capital risks as very effective. “In recent years, organizations have shifted towards actively laying the groundwork for the future of their businesses. However, they…
Author: NBM CORRESPONDENT
By Antony Mutunga The number of cybercriminals is on the rise as more and more people are joining up to use different cyber-attacks as a service where they monetize their networks. This is the reason why cyber-attacks such as cryptojacking and ransomware are expected to be on the increase as 2019 wares out. Emotet, for instance, is a malware originally engineered as a banking Trojan designed to steal sensitive information by eavesdropping on network traffic, which was detected in Kenya. During the start of the year, the information and communication technology (ICT) watchdog, Communications Authority of Kenya (CA) announced the…
BY DAVID ONJILI A dashboard that incorporates both digital learning and analytics through the capture of data, Zeraki Analytics is one of the products by Litemore Limited. “Data itself is not useful, but when organized and presented in an easy to use and understandable manner then it becomes integral,” quips Isaac Nyangolo, Litemore company co-founder and CEO. Mr Nyangolo credits his time on the project management department of Equity Bank’s Wings to fly program as the catalyst to this digital tool. While at the foundation from the year 2010, he had overseen how to assemble and mentor bright students from across…
BY BOSIRE NYAMORI A High Court decision delivered on November 29 2018 has highlighted the complexity in determining the VAT payable on land and property transactions and the consequences that can follow where the parties disagree on the tax liability. In David Mwangi Ndegwa v Kenya Revenue Authority, Civil Suit No. 541 of 2015, the High Court held that, “sale or purchase of land, together with residential premises and commercial premises erected on the land’, is VAT-free. Further, it ordered Kenya Revenue Authority (KRA) to refund the plaintiff, David Mwangi Ndegwa Sh11.2m, which he had paid as VAT when he bought…
BY KOSTA KIOLEOGLOU People tend to believe that real estate investments operate under a safety net and have extremely low to zero risk. This is not quite right. In reality, this is a very bad belief that can lead to bad decisions and big losses. Investors have made it in real estate investments and many others have lost everything. Real estate investments are an easy way to add diversity to your portfolio with a risk profile that best suits your needs. High, medium or low-risk property investments all have their pros and cons. Understanding the benefits and challenges of real…
BY MULEI MUTAVA MICHAEL Insider trading is just but one way through which conflict of interest manifests, but there sure are other ways, some more subtle than others. A person with vested interests, such as money, status, reputation or knowledge, which casts doubt on their ability to discharge fiduciary duties is said to have a conflict of interest. Is this familiar; a board member of a company who insists on powering the organization with solar but actually runs a solar company privately? Or a CEO who insists that all employees flying abroad on official business must sail to the airport…
BY BOSIRE NYAMORI The High Court of Kenya, in a judgment delivered on December 21 2018, has held that the test for determining whether a service has been “exported out of Kenya” is the location where that service is to be finally used or consumed. It was pronouncing itself on an eagerly awaited case of Commissioner of Domestic Taxes v Total Touch Cargo Holland, Income Tax Appeal No. 17 of 2013. Background Item I of Part A in the Fifth Schedule to the Value Added Tax, chapter 476, Laws of Kenya (“VATA1990”) treated “exportation of goods and taxable services” as…
BY JEREMY OPAR Kenya’s Constitution has been hailed as being transformative. It is a value-oriented. Its interpretation and application must therefore not be mechanical. It must be guided by the spirit and the soul of the Constitution itself as ingrained in the national values and principles of governance espoused in the preamble and, inter alia, Article 10 of the Constitution. For 50 years, Kenyans were excluded from participation in political, economic and cultural systems that shape their lives. Exclusion meant policies failed to address their needs and favored those with power and resources. Devolution has however, empowered them and also…
BY ANNE AMADI As part of the Judiciary Transformation process for speedier and more efficient service delivery, Kenya’s Judiciary has put in place measures to effectively deal with the age-old problem of never-ending case backlogs in the courts. Among these measures include recruitment of more Judicial Officers and Staff, building and refurbishment of more courts, adoption of modern management practices including but not limited to leveraging ICT (information communication technology) in case management and processes. The Judiciary has also carried out special initiatives such as themed Service Weeks where categorized cases are heard and concluded within the Service Week period.…
BY VICTOR ADAR Innovation has been driving development, presenting limitless opportunities. Globally, access to the Internet and to mobile phones is steadily growing. What it means is that savvy consumers are seemingly taking advantage if figures are anything to go by. In sub-Saharan Africa, more than 60% of individuals can access a mobile phone, which is no longer just a communication device but also a tool for enhancing lives. When well used, innovation can lift Kenya’s economy exponentially. This is backed by a report from the Communications Authority of Kenya that shows that mobile penetration stood at 95.1% as at…