Consumers have more power than ever, and businesses will need to accept and embrace this to attract and, more importantly, retain them By Tushar Vashnavi Not all the changes of the past two years are here to stay. But one area that has transformed is customer communications. Every output from every customer communications management system is a customer experience, and each of those experiences is part of a customer journey – and that journey has changed. A digital-first, personalised approach is expected, and the ‘new’ ways of working are no longer new. Consumers have more power than ever, and businesses…
Author: NLM Team
President says a new financial order will help the world overcome poverty and climate change. President William Ruto has made bold proposals on global financial reforms to increase financial flows for development and climate action during a session with President Emmanuel Macron, IMF Managing Director Christalina Georgieva, and World Bank President Ajay Banga. Continuing his bullish take on the West and the Breton Wood institutions in Europe, Ruto insisted that the West’s relationship with Africa must shift. The President was speaking during a round table meeting during the Global Financial Pact Summit in Paris, France, where he called for a…
The African Union’s mission in Somalia has begun reducing troop numbers in line with plans to eventually hand over security to the troubled country’s national army. “The African Union Transition Mission in Somalia (Atmis) has started to drawdown in compliance with (UN Resolutions) which mandate Atmis to drawdown 2,000 soldiers by the end of June 2023,” it said in a statement. The move comes despite continued deadly attacks by Al Shabaab in the face of a major offensive by pro-government forces backed by Atmis against the jihadist group. Only last month, 54 Ugandan peacekeepers were killed when Al Shabaab fighters stormed an…
The Controller of Budget (COB), Margaret Nyakang’o, has flagged expenditures of Sh5.66 billion on salary payments outside approved payroll systems in the first nine months of the Kenya Kwanza government. The findings of a review of salary expenditures by ministries, departments and agencies in nine months to March 2023 raise questions about the commitment by the government to instil transparency in its wage bill expenditures. “A review of recurrent expenditure shows that Sh399.96 billion was spent on compensation to employees, representing 40.3 percent of the gross recurrent expenditures by MDAs,” Nyakang’o said. “Further analysis revealed that Sh363.66 billion was processed through…
Central Bank of Kenya (CBK) estimates project the shilling could weaken further to 150.76 by the time it is repaying Kenya Kwanza’s debut Eurobond in June next year, signalling continued pressure on the country’s exchange rate. A new report by the Treasury projects the country will pay a total Sh301,513,774,986 for $2 billion international sovereign bond. This works out to an exchange rate of 150.76. The Central Bank of Kenya (CBK) governor Kamau Thugge has proposed floating a local dollar-denominated bond to get wealthy Kenyans. who hold over Sh1 trillion in deposits, to release the greenback in an efforts to…
Global development financiers attending this year’s Organisation of Petroleum Exporting Countries (OPEC) Fund’s forum in Vienna, Austria, have pledged a strong commitment to remodel their investments to support green projects at scale. The delegates, representing multilateral development banks and intergovernmental institutions, said business and political leaders must do more to stimulate capital deployment from the private sector. Muhammad Al Jasser, chairman of the Islamic Development Bank Group, cited the Desert-to-Power flagship renewable energy initiative led by the African Development Bank as “a great pioneering project.” Al Jasser said the Islamic Development Bank is fully committed to financing green projects while balancing…
By Silas Apollo Kenyans seeking tenders from the government may soon be eligible to contracts of up to Sh20 billion if a new Bill seeking to increase the amount of tenders reserved to any Kenyan sails through Parliament. The Public Procurement and Asset Disposal (Amendment) Bill 2022, seeks to have contracts reserved and awarded to Kenyan owned businesses increased from the current Sh500 million to about Sh20 billion. The Bill sponsored by Embakasi Central MP Mejjadonk Benjamin Gathiru says that the move is aimed at protecting Kenyans from exploitation by foreign companies. Mr Gathiru in his proposals in the Bill…
African governments and stakeholders continue to develop models that uphold data privacy and protection to facilitate safe internet use. By Conrad Onyango With nearly 600 million people across Africa using the internet today, African countries are increasingly recognising the need to legislate and invest in, data and privacy protection. Internet Society, a non-profit advocacy organisation, estimates that more than 17 African countries have enacted comprehensive personal data protection legislation. Additionally, according to the United Nations Conference on Trade and Development, 33 countries had some form of legislation that guaranteed data and privacy protection as of 2021. Speaking at the 2023…
‘Africa must take full advantage of the digital revolution to empower its citizens and enhance transparency in government and the private sector’ – Rwanda President Paul Kagame during the high-level African Union (AU) Economic Commission for Africa (ECA) event on digital identity in Addis Ababa, Ethiopia in November 2018. And Africa has indeed started taking advantage of the digital revolution, from increasing access to the internet for the ever-growing population to more businesses and institutions incorporating digital technologies into their practices. However beneficial, this has come with challenges as African countries have yet to invest as much into cybersecurity. According…
By Antony Mutunga State-owned enterprises have been the major losers at the Nairobi Securities Exchange (NSE) for a few years. This has resulted from mismanagement, personal interests, and corruption which have seen investors, who have backed organisations where the government has a stake or influence, lose billions at the bourse over the past five years. The investors have recorded a loss of Sh164.1 billion from seven companies, including Kenya Power, Uchumi Supermarkets, East African Portland Cement Company (EAPCC), Kenya Re, Kenya Airways, Mumias Sugar, and KenGen. As of 2017, the companies’ combined market capitalization stood at Sh214.4 billion. As of…
