By David Wanjala Safaricom, like Amazon, the multinational technology company focusing on e-commerce, has become an empire. If not yet, it is headed there. Some day in December last year Safaricom’s M-Pesa service crashed for a few hours and life almost stopped in Kenya. Cars got stranded at petrol stations, supermarkets tills got jammed and they could sell no more, online banking transactions ceased, bills in a cross section of services could not be paid. Imagine a scenario where Safaricom’s services across the board crashed and remained so for a week. What would become of you as an individual, leave…
Author: NBM CORRESPONDENT
BY EDWIN MUSONYE There is no dispute that the current business environment in the country is harsh. Policy makers have taken an ill-advised stance that businesses flourish on their own effort without cultivation and support. However, the reality is that there is a science behind increasing the success rates of businesses operating in a country or a region. Utilising the rules of the game ensures businesses that are starting and those already running get the highest chance of not merely surviving, but of thriving. Any progressive government appreciates the role prosperous enterprises play in helping the country achieve its socio-economic…
BY DAVID ONJILI Mzee Jomo Kenyatta, the founding father of the nation went to Jamhuri Park to watch Kenya Play Ghana in an independence celebratory match, thereafter dubbed the Jamhuri Day horror. Documented as his first and last match ever, Kenya trailed by four goals, courtesy of Ghana’s Acheampong, with only 35 minutes played and eventually lost 13 – 2. Agitated, the old man wondered why Kipchoge Keino, Kenya’s 1968 Olympian Gold Medalist and Olympic record holder in 1500m could not be allowed to come and outrun the Ghanian’s with the ball. Ever since, Kenya’s football has seen both better…
Child marriage will cost African countries tens of billions of dollars in lost earnings and human capital, says a new World Bank report launched ahead of the African Union Commission’s second African Girls Summit on Ending Child Marriage in Ghana last month. According to Educating Girls and Ending Child Marriage: A Priority for Africa report, more than three million (or one third of) girls in Sub-Saharan Africa marry before their 18th birthday each year. Today, the region has the highest prevalence of child marriage in the world. Child brides are much more likely to drop out of school and complete fewer years of education than…
BY CYNTHIA WAIRIMU The appearance of your nails in general is not enough to make a diagnosis. However, there are warning signs to look out for, and right here we will cover a few common ones. In general, healthy nails are smooth and have an even colour. There will be changes due to age, contact with chemicals such as detergent and dyes that can cause irritation, brittle nails, injuries such as knocking your nail on something hard, car doors being the biggest culprits… most of these will simply grow out with the nail. However, there is cause for alarm if…
Anew book by McKinsey confirms that Africa is poised for economic acceleration, akin to the Asian boom. While other geographies are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies, can sustain double-digit profit growth over the next few decades. In Africa’s Business Revolution: How to Succeed in the World’s Next Big Growth Market (Harvard Business Review Press, November 20, 2018) Acha Leke, Mutsa Chironga, and Georges Desvaux detail the research that McKinsey & Company has done and share insights into Africa’s future growth prospects. The conclusions they draw are distilled from 3,000…
Nairobians rank affordable housing as the most important factor when deciding where to live and work, according to Mercer, a consulting leader in advancing health, wealth and career. This is followed by safety and security, air and water quality, transportation and traffic, and finally life satisfaction. “With this in mind, governments and large businesses have a role to play in making cities more attractive in meeting the top needs of employees,” says Francis Omanyala, associate at Mercer Africa. The study provides critical insight into the motivations of workers against the backdrop of fierce competition for highly skilled talent. It also provides…
BY MATTHEW KIBBY With a boom in hotel construction, major infrastructure projects underway, and good GDP growth in many countries, the construction sector in sub-Saharan Africa offers several bright prospects. A report from GlobalData forecasts that sub-Saharan Africa will have the fastest growing construction industry in the world over the next five years, with a compound annual growth rate of 6.6%. However, construction companies in the region also face numerous challenges – from lukewarm economic growth in South Africa and funding challenges in Nigeria, to skills shortages, rising materials and labour costs, and exchange rate volatility across the region. To…
BY PETER WANYONYI Many arguments have been made– including in this column – about the pros and cons of electric vehicles (EVs) alongside, or as a replacement for, traditional vehicles powered by internal combustion engines (ICEs). These arguments have revolved around the economic and technological case for EVs: The range capability of EVs is a problem, with most unable to provide the sort of range that ICE vehicles enjoy. The most critical issue with EVs, though, is the lack of refill – or rather, recharge – infrastructure.First, the context of the issue. Kenya, like all other African countries, does not…
BY DENS KRUGER The international payments landscape is undergoing significant change. New, disruptive technologies are entering the payments market and putting pressure on traditional banking practices. Regulatory scrutiny, particularly around KYC and AML, and changes in consumer and client behaviours and expectations are also forcing the industry to review traditional banking models. The banking sector is facing these challenges head-on, developing a new and more innovative and dynamic payments landscape. Consumers want their retail experience to be replicated in the banking world; this means instant, frictionless services. At the same time, corporate clients want to reduce payment costs and are…
