APRIL 2019 BUSINESS BRIEFS

African innovators are gaining more global recognition

African innovators keep winning global plaudits with increased attention paid to their work and its impact. The latest nod comes from Fast Company magazine’s annual list of The World’s 50 Most Innovative Companies. African Leadership University was named on the diverse list of 50 companies across the world making “the most profound impact on both industry and culture.” The listing is a recognition of ALU’s rapid growth since being founded in 2015 by Fred Swaniker. The Mauritius-based institution’s ambitious goal of redefining education on the continent has been backed with over $80 million in just over three years, as Quartz Africa has reported.

Nairobi among top 100 Global financial centres

Nairobi has made its first appearance in the Global Financial Centers Index 25 list. Ranked 97^th, it beat cities like Manila, Hangzhou, and Athens. The Global Financial Centers Index was created in March 2007 and it lists major financial hubs around the world based on their competitiveness. The index is revised every March and September. The index evaluates cities based on five areas of competitiveness; business environment, availability of human capital, infrastructure development, Financial sector development, and reputation.

Taskforce to review money laundering policies

The Kenya Government has established a taskforce to draft a new policy on how the country can counter money laundering and illicit finance trade. The intergovernmental agency will have members from Capital Markets Authority, Kenya Bankers Association, Kenya Revenue Authority and Kenya Wildlife Service among 26 other Institutions. Part of its function will be to assess money laundering and terrorism financing, as well as identify and evaluate the level trends and threats to the country. The team is also expected to create a national strategy on combating money laundering.