BY TOM ODHIAMBO You probably have seen them on TV, or at airport lounges or read about them online or in glossy magazines. These globetrotting entrepreneurs, investors or businessmen straddle borders of countries, looking for another opportunity to set up a business and make more money. They are suave, globally tuned-in, savvy and often politically connected. They are the first class members of the international rich, who are also known as the ‘plutocrats.’ They are the subject of Chrystia Freeland’s book, Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else (Penguin, 2012). This is a book worth reading,…
Author: NBM CORRESPONDENT
A group of four students from Kisumu girl’s high school, and one from Jomo Kenyatta University of Agriculture and Technology (Jkuat), have won the African of the Year Award. Innovators Stacy Owino from Jkuat, Cynthia Otieno, Purity Achieng, Mascrine Atieno and Ivy Akinyi from Kisumu Girls, all aged between 16-18 years, received the global recognition award for developing a mobile application ‘i-cut’ which connects Kenyan girls affected by Female Genital Mutilation (FGM) to legal and medical assistance a year ago. The group, christened restorers, which aims at preventing FGM in specific areas such as Kisii, Somali, Samburu and Maasai-land were awarded Sh2.5 million prize money at a…
BY ANTONY MUTUNGA Last year saw a rise in threat activity in the cyber-world as more and more people got connected to the Internet. According to the hosting fact list of Internet, e-commerce and hosting statistics for 2018, the number of internet users rose from about 3.7 billion at the end of 2017 to 4.1 billion as at the end of 2018. The surge in data breaches and cyber-attacks has affected billions of people all over the world. According to Positive Technologies, a global digital security firm, during the second quarter of 2018 cyber attacks increased by 47%, affecting about…
One of the fastest growing design trends, 3D modelling is set to exponentially increase over the next few years. The multitude uses for 3D designs and models seem to increase every year, and it is becoming essential for those across various sectors to know how to access the most creative designs as quickly and easily as possible. There are some exciting trends that are set to dominate the space in 2019 as 3D design begins to permeate nearly every industry. Platforms such as the Flat Pyramid 3D model marketplace are therefore essential for those in the creative industries, as well…
Africa Code Week (ACW) 2018 exceeded all expectations by empowering 2.3 million youth across 37 countries with digital and coding skills – compared to 1.3 million youth engaged across 35 African countries in the previous edition. According to Cathy Smith, managing director of SAP Africa, the resounding success of Africa Code Week is a wake-up call unveiling what the young generation actually needs and rightfully expects. “Young people in Africa don’t just need opportunities: they need to know how to take the first steps to get there. They need role models and guidance,” said the SAP MD Capacity building as…
When the Global Steering Group for impact investment, popular as GSG, convened its first dialogue in Kenya, social entrepreneurship seemed to be on everyone’s lips. That hot Monday of Mid December last year saw hundreds of shrewd investors, social entrepreneurs, development finance specialists as well as policy-makers discuss the need for a coherent approach as far as balancing purpose and business is concerned. But can you really make money from the new funding mechanism as an investor? What does impact investment mean to the economy? As more and more corporates continue to encourage young people to be their (own) bosses,…
BY KOSTA KIOLEOGLOU Real estate is usually considered as a safe investment haven that offers capital security and guaranteed profits. This misguided view has led thousands of people across the world to lose money and assets after choosing to invest in this market ignoring the most important factor of profitability, risk. The property market as any other market is based on a risk-return trade off model and the word secure and guaranteed do not exist in the vocabulary of professional real estate players or advisors. Higher risk is associated with greater probability of higher return and lower risk with a…
BY KIPRONO KITTONY The World Bank has projected Kenya’s economy to hit 6.02% in 2019 from 5.48% in 2018. This positive outlook could however be affected by the high-octane politics that is gaining momentum specifically on a referendum and the succession politics of 2022 that could hamper the country’s economic growth. The Kenya National Chambers of Commerce and Industry (KNCCI) is cognizant of the fact that economic growth and political stability are deeply interconnected. Unstable political environment may reduce investment and the pace of economic development while poor economic performance may lead to government collapse and political unrest. There are…
By DAVID ONJILI Kenya, like the rest of Africa is not spared from the inefficiency of the agricultural market whose defining feature is high distribution margins and seasonal price unpredictability. Poor road infrastructure especially in areas that have surplus production and lack of good storage facilities compounds the nightmare. A World Bank survey of 2017 stated that close to 30% of grains harvested are lost due to the above-mentioned factors. This is not just in Kenya; it is in the Sub Saharan region at large. With a majority of her agricultural sector being rural based, Kenya experiences a lot of…
BY ANTONY MUTUNGA Over the last decade, cryptocurrencies have become quite popular around the globe, no longer are they only for the tech-insiders as now they offer real investment possibilities to the people. From 1983 when American cryptographer David Chaum conceived the ecash, to 2009 when the first decentralized cryptocurrency, bitcoin, was created by pseudonymous developer Satoshi Nakamoto, cryptocurrencies evolved further. After the bitcoin was introduced to the world, many other cryptocurrencies started being established such as litecoin and ethereum. Today, according to the Coin Market Cap, the number of cryptocurrencies stands at over 2,100. Despite the number increasing, the…