A non-banking financial institution African Guarantee Fund (AGF) has qualified as a 2X Collaborative as a result of meeting Africa’s small and medium enterprises financing needs. The 2X accreditation is awarded to organizations that aim to advance opportunities for women through enterprise support, leadership and career progression, quality employment and products that enhance women economic participation. The lender earned the recognition because of its commitment to encompass a minimum of 30% women in senior management, over 40% women inclusion under employment and purposing to support women-owned and women-led businesses through a guarantee initiative dubbed “AFAWA” (Affirmative Finance Action for Women…
Author: NBM CORRESPONDENT
BY TOM THIMOT Before 2021, the market was a veritable unicorn farm. It averaged 150 births per year with startups reaching unicorn status in record timeframes. Last year saw venture capital (VC) funding reach $620 billion, more than double the year before. But this fertile ground is growing barren as challenging and largely unexpected headwinds – a prolonged pandemic, war in Europe and sky-high inflation – hinder the growth of businesses across all market caps and industries. Ongoing supply chain disruption and Russia’s invasion of Ukraine are two main drivers of record-high inflation. The Federal Reserve has responded by ordering…
Maintenance fee will choke the remaining life out of an already ailing stock market BY ADAN MOHAMED On May 17, the Central Depository and Settlement (CDSE) Corporation Limited sent out emails to existing account holders informing them of the introduction of a Sh100 monthly maintenance fee payable annually. The move kicked up a mass displeasure among stakeholders. No wonder it has been shelved pending further deliberations between the corporation and the Capital Markets Authority. The corporation’s core business is to maintain a central depository system that clears and settles transactions involving publicly traded securities. The corporation has been involved in…
The real costs have distinct variances across global regions By Humberto López The current state of world affairs continues to weigh heavily on global growth prospects, with new and ongoing crises taking an enormous toll on global economies, particularly those of developing countries. Just as we prepared to emerge from the pandemic and resume life under new normal conditions, COVID variants and the Russian invasion of Ukraine introduced additional shocks across markets. The costs of these persisting crises are absolutelystaggering. To put orders of magnitude on these costs, compare the January 2020 World Bank Global Economic Prospects projections for global gross…
Kenya’s current inflation is imported. We have exhausted our borrowing and taxation capacity so much that the only option left is to live within our means or risk economic collapse. The fate of the country’s economy is now in the hands of the incoming government. By Ephraim Njega In recent months, many Kenyans have expressed concerns over the state of the economy. The worries emanate from the rising inflation and the public debt crisis. The relentless depreciation of the shilling and political uncertainties haven’t made things easier. A persistent drought is also a matter of great concern given that our…
By Peter Wanyonyi It is political manifesto time, and our politicians are in overdrive with their promises of economic paradise over the next five years – but only if they are elected to office. The grand promises contained in the rival manifestos of the two leading political camps are an exercise in economic dreaming – but you cannot accomplish anything if you do not dream. The question, then, is – even if we assume the dreams are plausible, what is the true cost of it all? The devil will be in the details of implementation. Each manifesto always has a…
Election debates should be about issues rather than personalities BY ALEX OWITI In a few weeks, Kenyans will be making the most important decision of electing the leaders they want through a ballot system. This will be the first election that will see youths born when the late Mwai Kibaki got into power in 2002, vote for the first time. They were born when Kibaki took over power from one of Africa’s longest dynasty, President Daniel Moi. And for the next decade, Kibaki’s regime was praised for salvaging the economy from collapsing and returning its prosperity. Even after his demise,…
We produce our fruit better than many other global market players, grower says By Chris Flowers The avocado fruit has over the last decade and more swept the world’s imagination and attention to an extent that it qualifies as an iconic superfood – most countries have embraced avocado consumption, leading to a significant increase in new plantings. However, therein lies environmental challenges as some of these new areas expand into ecosystems where competition for resources occurs, or they are being considered as inappropriate for such a crop. At the moment, the conversation is about climate action and sustainability, but what…
In today’s market where consumers have hundreds of lenders to choose from, the ability to build products for customers’ unique needs becomes increasingly important. And it is about pressing the right buttons. Annstella Mumbi, Tala’s senior country growth manager talks to Victor Adar on the current digital lending market and why there is need to expand financial inclusion. Tala has upgraded its loan features to avail a flexible credit option dubbed “Jichagulie Due Date” giving customers the power to set their own loan due date; what’s the strategic importance of that move? It is aimed at ensuring we put the…
Business leaders are engaged in a delicate balancing act as radical workforce changes, new customer demands, external pressures and the impact of the pandemic collide to create a multitude of new challenges and opportunities. Cameron Beveridge, regional director for Southern Africa at SAP, believes corporate leaders are having to balance traditional business objectives such as revenue and profit with the demands of the modern economy that include building a healthy company culture, playing a positive role in society and being a good corporate citizen. “The lines are being redrawn around what employees, customers and broader society expect of a modern…