BY BARNABAS ONYONKA As a rule of life, bigger is always better. It is ingrained in us and there is little we can do to change our preference for bigger things. Even toddlers will fancy bigger toys as compared to smaller ones. Likewise, in the business world bigger is always preferred. A big company is better than a small company and so is a big name as compared to a smaller one. Bigger by any metrics, in the business world, opens doors for more profits which are, actually, the most important figures in any company. Paradoxically though, when it comes…
Author: NBM CORRESPONDENT
BY VICTOR ADAR It seems like Kenya’s aspiring entrepreneurs are affected by lack of innovative business ideas, mentoring services as well as access to seed capital. Of course, there has been a wave of early stage entrepreneurs not being able to overcome such barriers and grow. It is in that predicament that Sinapis, an organization that empowers aspiring entrepreneurs, saw a gap and started providing a rigorous business education, world class consulting and mentoring services to the tiny lot. Sinapis is looking to the practical side of business and teaches integration of faith and business. And with the backing of the…
BY David onjili They are the two main manufacturers of aeroplanes world over and theirs is a rivalry that is not just steeped in profit but pride. Their duopoly has made other aeroplane manufacturers become almost insignificant. Airbus has hers as a European consortium and Boeing was able to merge with Mc Donnell Douglas to exert its dominance not just in America but the world over. The Americans view Boeing as their statement of aviation dominance and the Europeans seek to break this by their product; the Airbus. You have to witness the launch of their planes to understand what…
BY GORDON MUTUGI What happens when Government, whose core function in business is development of broader social-political climate that enables businesses to thrive, becomes an active business entity? With the high demand of resources needed to run a profit making businesses, Commercial Government agencies usually grapple under the weight of inefficiencies, lack of innovative policies and risk of broader political climate influence. As the country’s core economic force, the private sector is therefore a key ally in Government for business partnerships. Since the introduction of the Kenya privatization programme in 2005 Government has been in search of successful partnerships especially…
Tourism is a catalyst for economic growth in Africa – a key theme during the UN World Cities Day celebrated last month around the world. The sector is especially important now when governments are seeking out ways to drive diversification as part of their growth strategies. African cities need to find efficient ways to develop into smart cities capable to not only attract visitors, but also to offer unique experiences and overcoming growing infrastructure demands. The Mastercard Global Destinations Cities Index (GDCI) provides insight into the motivations and travel spend of visitors – a prime driver for development in the…
The days of walking around with large sums of cash as one heads to deposit in the bank are over after Standard Chartered Kenya, one of the oldest banks in the country, unveiled Electronic Cash Deposit Machines for Corporate Clients. The electronic cash deposit machines will assist corporate clients by ensuring reliable and secure cash management. The machines are available for either purchase or leasing to organizations that handle huge cash flows. The machines will enable organizations to have a miniature version of their bank branch right in their offices, which allows them to deposit their cash, which in turn…
Betty Korir may be the latest lady to join the league of corporate leaders in the banking sector after she was appointed the chief executive of Credit bank. Prior to this, she was the acting CEO for a month after the previous man at the helm, Mr Chege Thumbi, left the company for Sidian bank in July. Having been in banking for 20 years, she will be looking forward to emulate her past success to help sustain the growth of Credit Bank. Apart from being a veteran boasting of the full support of her fellow employees – she has worked…
After being in the media for the wrong reasons recently, the Kenyan police service is yet again on the spotlight after being ranked the third worst in the entire world according to the World Internal Security and Police Index (WISPI) report. The report, a product of both the International Police Science Association (IPSA) and the Institute for Economics and Peace (IEP), measures the ability of the police service and other security providers to handle internal security issues. The report covers only 127 countries with nations protracted with civil conflicts not being included in the index. Among the 127 countries, Singapore…
BY JAMES CHAPPELL News that the darling of the disruptive digital age, taxi app company Uber, was hacked in 2016 with statements confirming that 57 million customers and 600,000 drivers’ personal details were compromised and potentially stolen should not really come as a surprise. While you could be surprised at such an effective architect of the digital world would not be fully prepared for such an event, it does show that even the most tech savvy businesses are open to the menace of data breaches and cyberattacks. We don’t yet know the full picture of what happened at Uber, but their…
By Victor Adar If you think that successful people only started off from loans, salaries or profits from businesses, which is always the case, think again. There’s a group of people who are simply lucky, depending largely on gambling in order to get money that they would finally use in setting up various businesses. Success tales are told of friends, nephews and cousins whose dreams came true after winning jackpots. Lots of people actually live better lives thereafter, even end up building their start ups out of money won after betting. To those who gamble big time, it is a…