By Antony Mutunga The demand to be ahead in the Artificial Intelligence (AI) technology space has seen the technology advance quite fast in a span of a few years. But despite the advantages that AI brings to the world, it is better to be smart in terms of privacy and security. A number of tech players have agreed to regulate their development in artificial technology. Google, Microsoft, OpenAI, Meta, Amazon, Inflection and Anthropic have agreed to new safeguards for the fast-moving technology that will ensure safe, secure and transparent development of the technology. How do they do that without losing…
Author: NBM CORRESPONDENT
Millions of small, independent shops in East Africa will need to look at diversifying, digitizing, and even partnering for growth in response to a challenging and rapidly evolving landscape. These cornerstones of neighbourhoods undeniably form an integral part of a countries socioeconomic system. A retail solutions company that represents some of the top fast-moving consumer goods (FMCG) and commerce brands, Smollan, gives a glimpse into the dynamics of this growing sector and the challenges and opportunities that arise. Seen within the context of small-scale retail tied to history, traditions, and trading preferences of consumers in a particular region. As defined…
By NBM Writer The African office market faces challenges from oversupply, changing work patterns, and unfavourable economic conditions. These factors have contributed to prolonged vacancy rates, decreased sales of office space, and a notable decline in rental returns. For example, in the Nairobi Metropolitan Area, an excess supply of office space of over 8mn sqft surpasses the current demand. Consequently, developers have put a hold on new construction projects until the “extra” office space in the market is absorbed. The office occupancy levels in Nairobi have also experienced a decline of 3.9%, dropping to 71.5% from the 74.9% recorded in…
What the lifting of ban on Finance Act 2023 means for your daily lived experience by Antony Mutunga Tax payers are wailing. In June, as Members of Parliament passed the Finance Act 2023 that would later be approved by President William Ruto on June 26, it was clear that a majority of Kenyans are in for a bad experience. Through the law, the government hopes to raise its 3.6trillion budget, a move that will result in Kenyans digging deeper into their pockets because of new tax measures. It was hoped that a lawsuit by Okiyah Omtatah,senator of Busia, that saw…
The US printed over $13 trillion during COVID lockdowns, resulting in massive inflation at home and then around the world. Today, Kenya is caught between imported inflation caused by US monetary policy on the one hand, and loan repayments and stalled economic activity on the other. By Peter Wanyonyi November 1971 was a watershed moment for international economics and the United States (US) dollar. Up to that point, the US had maintained and honoured dollar-gold convertibility at market rates: back then, as now, countries settled their international accounts in dollars. But, unlike today, those dollars could – and frequently were…
By Ali Mansoor and Awa Mbaye African countries need alternative funding schemes to tackle climate change impacts whose effects have been exacerbated by the Covid-19 pandemic, the Russian-Ukrainian war, geopolitical fragmentation, and external shocks around the world This can only mean that, for the continent to consolidate her efforts on climate change course, which currently depends only on Resilience and Sustainability Facility (RSF) from IMF which was initiated in 2022, innovative financing is imperative. The Covid-19 pandemic, the Russian-Ukrainian war, geopolitical fragmentation, and external shocks around the world have exacerbated the effects of climate change in developing countries, low-income countries,…
By Geoffrey Odhiambo Climate change is a global phenomenon with severe implications for vulnerable countries like Kenya. It requires urgent and inclusive action from governments around the world. For context, for years, Kenya has experienced the adverse effects of climate change, including increased temperatures, erratic rainfall patterns, and extreme weather events. Luckily, the country has been actively pursuing climate financing strategies, anchored in a robust legal and policy framework in an effort to combat climate change challenges, promote sustainable development, and build resilience. Kenya has been witnessing the detrimental impacts of climate change on its ecosystems, economy, and communities. The…
Successful rebrands require a deep understanding of consumer sentiment and a clear vision for the future By Kevin Kaminyar Rebranding is an essential marketing strategy businesses often undertake to revitalize their image, stay relevant or expand their customer base. When executed successfully, rebrands can breathe new life into a company and strengthen its position in the market. On Sunday, July 23, Elon Musk tweeted (soon to be referred to as xd?) that he intends to replace Twitter’s 10-year-old blue bird logo with a brand-new one that features an “X”. It’s the mogul’s most recent attempt to phase out Twitter’s branding,…
BY SILAS APOLLO The Equity Group has unveiled its annual sustainability report for the year 2022, highlighting what has been the priority areas for the group in driving change on some of Africa’s most pressing needs. Themed “Growing Together in Trust”, the report showcases some of the group’s remarkable impact in supporting a sustainable cleaner and greener environment, access to education, improved agriculture and better healthcare. Other areas also include enterprise development and financial inclusion, social protection work, promotion of a brighter and sustainable future for communities and businesses across Africa. The sustainability report positions Equity as a key driver and leader…
By Silas Apollo The Ethics and Anti-Corruption Commission was this month put on the spot over its decision to advertise the position of chief executive officer internally. During a session of the National Assembly’s Public Accounts Committee (PAC) the commission was questioned on the rationale behind advertising such a crucial position internally. EACC CEO Twalib Mbarak appeared before the watchdog Committee chaired by Funyula MP Wilberforce Oundo to respond to audit queries for the Financial Year 2020/21. PAC was particularly concerned with the reasoning behind the decision to advertise a position that is key, such as that of the chief…
