Author: Victor Adar

Invest in Africa, IIA, is a Pan-African, private sector-led initiative working to empower Small and Medium Enterprises (SMEs) in the continent to create jobs. Since 2016, the platform has grown in leaps and bounds with over 2,400 SMEs and 245 women in business registered; supporting over 47,000 jobs; with more than Sh300M contracts won by SMEs through the platform. The organization’s country director spoke to NBM’s Victor Adar on achievements, opportunities, and what goes into business partnerships. Is there room for growth of SMEs? We believe that SMEs are the catalyst for the social and economic development of Africa and…

BY NBM WRITER As Stima Sacco performance in 2019 improved, shareholders will benefit from a Sh2.3 billion payout in dividends and interests on deposits. The Sacco’s board of directors recommended payment of a first and final dividend of 14% per share on fully paid up shares as at December 31 last year, and interest rebates on members’ deposit at the rate of 10.5% for the year under review. The society’s national chairperson Rebecca Miano is enthusiastic about the significant improvement on brand equity. She said, while speaking at the 46th Annual General Meeting at the Kenya School of Monetary Studies…

BY VICTOR ADAR A majority of individuals found themselves working from home and are only required to report to work when necessary thanks to Covid-19 pandemic. This sudden occurrence has seemingly led to a surge on the number of people seeking for ways to make the stay home order possible and fun. As the masses await this cloud to pass while trying to be safe, companies are going to need a good strategy to stay relevant and at least bounce back easily once things go back to normal. In response, Kenya’s mobile games company, Usiku Games, has free-rated its fees on…

BY VICTOR ADAR In 2000, when Anna Nichol Wanyee founded Revodesign Studios while still residing in a small city in the Bay Area called Tracy, Northern California, there was a remarkable window of opportunity. The reason Ms Wanyee started the company was because deep down her heart it was a daily struggle to go to her work place, Expo Design Centre. Besides heavy traffic, she says, the distance to main road was just too far and it would take her four hours to and from work. Starting a business made sense. “We started with interior design and specialised in doing…

BY VICTOR ADAR Managing a successful business in this age of technology and innovation is a challenging task, especially with the cutthroat competition and harsh economic environment in nearly all industries. As you work towards breaking even, you need to raise your head high and look above your shoulder to see if in the long run things will go according to plan. Times and attitudes change like opinion polls, and most probably, Hotpoint Appliances is one distributor and retailer that has always embraced this phenomenon of the changing world. The company started from the humble beginnings of a small shop.…

Are digital lenders genuinely solving the issue of financial inclusion? BY VICTOR ADAR You no longer have to visit a brick and mortar bank to fill forms in order to access a credit facility. Through online portals or mobile apps, consumers can key in details like real names, monthly income, and identification number to get loans. Some digital lenders even validate potential borrowers based on their social media accounts. As if that is not enough, depending with your score and the app in question, a good credit history alone can qualify you for the facility in a matter of minutes. …

BY VICTOR ADAR There is a trend sweeping in out-of-town shopping centres where by individuals combine variety of businesses to earn good income. A chemist will most likely have a beauty and cosmetics wing, a money transfer service shop like mPesa, Pesapap… or, a coffee vending machine, and even a spot where one can get phones and accessories. Script is the same in the food industry where hotels and restaurants are known to incorporate things like pool tables, self-cooking options, eat in and eat out services, and much more. All these options are inspired by the need to widen daily,…

BY VICTOR ADAR When Jacque Mgido started Vault Cosmetics in Zimbabwe 10 years ago, a company that has since rebranded to now Jacque Mgido Cosmetics, there was no sign that one day a large section of the world will celebrate the brand. Ms Mgido took off to the United States to study, and probably be a professional film maker, but as fate would have it, her journey took an unlikely turn in St Louis, where curiosity to thrive on beauty and cosmetics business would make her land in Hollywood. The race to learn the cosmetics art compelled her to enrol…

BY VICTOR ADAR It is a hot Tuesday afternoon and we are having a chat with Vijay Gidoomal at Car & General (C&G) showroom, which is at the junction of Lusaka and Dunga road in industrial area. Gidoomal cut his teeth as a lawyer from University of Warwick in the UK in 1989 but would return to Kenya in 1993 to establish C&G operations in Uganda and Tanzania. As an executive director, he slowly but steadily introduced new product lines that include three wheelers and two wheelers as taxis in East Africa, and has seen the firm spread its tentacles…

BY VICTOR ADAR A campaign to create a pest free area might soon boost mango exports, improve production and quality, and benefit farmers especially those at grass roots level. Dubbed “komesha: zuia fruit fly ufaidike”, it will sensitize and create awareness on economic benefits of applying modern pest management technologies to curb fruit fly damage on mango fruits. The campaign’s success will also mean a pest free area that will lead to reduced post-harvest losses as a result of fruit fly damage by 50% and improved quality and food safety of mango products. It will be implemented in Makueni and Kitui counties by…