When outlining his plans to transform the Rwanda capital market, Mr. Thapelo Tsheole, the new CEO for Rwanda Capital Market Authority (CMA) noted that there is need for aggressive awareness creation about capital markets in Rwanda. He also noted the need for capacity building for various stakeholders in the Rwanda capital market including the regulators,...
In the pursuit of addressing climate change and reducing greenhouse gas emissions, nature-based carbon credits have emerged as a powerful tool. These credits, generated through activities like afforestation, reforestation, and conservation projects, have the potential to provide up to 30% of the global climate mitigation required to limit global warming to 1.5 degrees, as highlighted...
The establishment of suitable Intercompany Agreements (ICAs) is a continuous initiative rather than a singular undertaking. This is attributable to the dynamic nature of the group’s composition, subject to alterations resulting from acquisitions, organic growth, or organizational reconfiguration. Additionally, the group must periodically revise its Transfer Pricing (TP) compliance strategies due to modifications in tax...
Intercompany agreements, or ICAs, are legal contracts entered into between businesses with similar interests. These agreements lay the groundwork for the legal structure that governs the provision of services, products, intangible assets, and financial assistance inside a corporate group. Management services, administrative and other back-office services (e.g., finance, tax, legal, and HR services), marketing services,...
Controlled Foreign Company (CFC) rules are tax laws that are designed to prevent multinational companies from shifting profits to subsidiaries located in low-tax jurisdictions in order to avoid paying taxes in their home country. These rules aim to ensure that multinational companies pay their fair share of taxes on the income generated by their foreign...
The STTR rule, part of the Inclusive Framework on BEPS, helps countries fairly tax multinational companies. It’s one of the rules under Pillar Two, which allows countries to tax certain payments when other countries don’t tax them enough. The STTR focuses on preventing companies from dodging taxes by moving their profits to countries with very...
Capital markets play a critical role in efficient and arguably effective allocation of scarce financial resources to competing investment opportunities in a given economy. They also provide an alternative source of capital for the private and public sectors in countries where they are well established. Capital markets complement the traditional sources of capital for businesses...
The progression from the Agrarian Revolution to the Fourth Industrial Revolution represents pivotal milestones in human history, marked by profound shifts in technology, economics, and society. To provide a comprehensive understanding of these transformative periods, we offer the following summary: Agrarian Revolution (circa 10,000 BCE): The Agrarian Revolution, also known as the Neolithic Revolution, marked...
Tax Policy Changes Value Added Tax Firstly, there is a proposal to review the VAT threshold, aiming to optimize operational efficiency within the VAT system. Reviewing the VAT threshold can enhance efficiency by streamlining the administration of VAT, potentially reducing compliance burdens for small businesses. Secondly, a comprehensive assessment of exempt and zero-rated supplies is...
A medium-term revenue strategy (MTRS) is a high-level roadmap for tax system reform, covering a period of four to six years. Tax reform includes changes to tax policy, tax administration and legal frameworks. According to PCT 2017, the core elements of the MTRS Includes; A social contract on the level of revenue mobilization effort for...
The Dynamics of Protectionism Trade has long been considered a cornerstone of economic prosperity, fostering growth and development in societies across the globe. However, the concept of protectionism, which involves implementing trade barriers to shield domestic industries from foreign competition, has also played a significant role in shaping economic policies. Protectionism, including tariffs, import quotas,...
Role of capital markets in developing economies Capital markets are key drives of economic growth as they help facilitate the demand and supply of credit. Through the capital markets governments and the private sector can access funding for infrastructure financing or large capital expenditures in the case of large corporations. Capital markets can also be...
The Kenyan taxation framework operates on a self-assessment basis, susceptible to manipulation, filing errors, income understatement, and expense overstatement, among other vulnerabilities. To comprehend the foundation of this system, it is essential to explore the underlying legal framework. Under the Judicature Act (CAP 8), the High Court, Court of Appeal, and subordinate courts are mandated...
The African Development Bank (AfDB) estimates that Africa needs approximately $45 billion annually to transform its agriculture sector. This estimate includes investments in infrastructure, technology, research and development, and capacity building. Cumulatively, the amount of investment needed to finance food systems in Africa by 2030 is in the north of USD 315 billion. This huge...
The Feed Africa Strategy for Agriculture Transformation in Africa 2016 – 2025 is a comprehensive and ambitious initiative launched by the African Development Bank (AfDB) to drive sustainable agricultural development across the African continent. With the goal of eradicating hunger, reducing poverty, and achieving food security, the strategy focuses on transforming Africa’s agriculture sector into...
Financial sector liberalization committee & Council of Ministers Draft Policy In early 2022, the Ethiopian government set up a committee that would be responsible for replacing the current financial services code with a new one that allows more liberalization; specifically, one that allows for the entry of foreign banks. This was in response to banks...
The carbon market is a financial system aimed at reducing greenhouse gas (GHG) emissions. This market assigns a monetary value to each metric ton of GHG emissions, enabling companies and countries to buy or sell the rights to emit these gases. The market is divided into two, the compliance carbon market (CCM) and the voluntary...
The Ten-Year Growth Plan (Master Plan) Ethiopia developed the ten-year development plan (2020/21 – 2029/30) that aims to position the country as the ‘African Beacon of Prosperity’. This is a successor to the five-year growth and transformation plan-II (GTP II) and it focus on six strategic pillars that include: Private sector leadership in the economy....
In June 2014, during the 23rd African Union Summit held in Malabo, Equatorial Guinea, African leaders came together and made a commitment to accelerate agricultural growth and transformation on the continent. The leaders set specific targets to be achieved by 2025, which are known as the “Malabo Commitments.” These commitments are aimed at promoting food...
Introduction According to a guide developed by the International Institute for Sustainable Development (IISD), the Pillar Two Global Anti-Base Erosion (GloBE) minimum tax proposal will have an impact on numerous countries, regardless of whether they take action within their own borders. The GloBE initiative establishes a reservoir of potential tax revenues from the incomes of...
Energy and Resource (ER) Transfer Pricing Considerations Trading Hub: In the present BEPS landscape, the focal point regarding trading hubs revolves around a crucial transfer pricing (TP) consideration. It involves ensuring a harmonious correlation between two key factors: Strategic Decision-Making and Risk Control: This entails verifying that the geographic location where pivotal decision-makers exert authority...
Transfer price is the price of a transaction between two entities that are part of the same economic group of companies. The price transacted between the two related entities is the “transfer price” and the process for setting the price is referred to as “transfer pricing.” Whereas commercial transactions between independent enterprises are generally determined...
The report on Crypto-Asset Reporting Framework (CARF) and Amendment to the Common Reporting Standard (CRS) was released to the public by Organization for Economic Cooperation and Development (OECD) in the month of October 2022. This comes at a time where OECD recognizes the need to address Crypto assets which can be transferred and held without...
The roofing material market in Kenya has undergone significant transformations over the past decade. The usage of iron sheets as the primary roofing material by households has steadily risen from 73.2% in 2009 to 80.3% in 2019, according to Kenya National Bureau of Statistics’ (KNBS). Conversely, the utilization of grass for roofing has declined from...
Demand for animal feeds and fertilizer within Kampala City Demand for alternatives sources of feeds and fertilizer has increased due to the Ukraine – Russia war that impacted the supply of fertilizers. Additionally, silver fish from lakes within Uganda used to be a key source for animal protein. However, over fishing has reduced the amount...
Regulatory environment around waste management in Kampala City The presidency made a directive in May 2023 through an executive order that requires all urban authorities to ensure that there is a garbage skip every 200 meters. The order is expected to be enforced in six months. However, feedback from various municipal and city authorities mentioned...
Kampala is organized into 7 collection zones and each zone has different companies that are in charge of collecting and transporting the waste. These companies are contracted under a PPP arrangement and have the exclusive rights to collect the garbage in those zones. The companies in charge of this waste collection include: M/s Kampala solid...
Electric vehicles (EVs) represent a significant and rapidly growing segment of the private transportation market. By the end of 2020, there were already 10 million electric cars on the world’s roads, following a decade of impressive expansion. Despite the global downturn in car sales caused by the pandemic, electric car registrations increased by 41% in...
The transportation sector in many low and middle-income countries is witnessing rapid growth in two and three wheelers. While Asia currently dominates the global motorcycle fleet, African countries are experiencing some of the highest growth rates for motorcycles worldwide. Presently, there are approximately 270 million motorcycles on the roads, with annual motorcycle sales reaching around...
The motorbike industry in Kenya has experienced significant growth and transformation in recent years. Motorcycles have gained popularity as a means of transportation for both goods and people, primarily due to their ability to navigate through traffic congestion and reach destinations quickly. This trend is particularly evident in urban areas where traffic congestion is a...
Africa will be home to more than 2.4 billion people by 2050. This population growth is driven by declining child and infant mortality rates; as well as an increase in average life expectancy to over 70 years. By 2030, an additional 350 million people will have transitioned to be urban dwellers across the continent. All...
ESG reporting has gained significant importance in recent years as organizations recognize the need to integrate sustainability and responsible practices into their operations. It enables companies to be more transparent about the risks and opportunities they face. The increasing significance of sustainability reports is backed by the demand from investors and other stakeholders for companies...
Public-private partnerships (PPPs) have become a widely utilized form of infrastructure development across numerous nations globally. By combining the capabilities of public and private entities, efficient and sustainable infrastructure projects can be achieved. One potential issue that could potentially impede the success of these PPP projects is transfer pricing. Transfer pricing is a method of...
The GloBE rules pillar two has been designed to reduce profit shifting and tax competition among countries racing to the bottom. It has also been developed as part of the solution for addressing the tax challenges of the digital economy. As a background Organization for Economic Cooperation and Development (OECD) Pillar 1 and 2 statement...
According to Finnerty in 2007, International tax law framework has been used to indicate a set of rules that affect the tax treatment of cross-border operations. This set of rules is constituted primarily by domestic tax rules, whose application is generally limited by double tax treaties and other international law instruments. In Kenya for instance,...
BAPA process has been well elaborated and articulated in the Bilateral Advance Pricing Arrangement Manual. However, it only acts as a guidance on the best practices to approach the process and should not be construed as an advice but an awareness on the whole spectrum. The following stages has been suggested to guide the BAPA...
In the advent of globalization, new emerging business models have developed in the last 10 years with the recent developments heavily experienced in the financial products and intermediaries such as Decentralized Finance (DeFi). At the same time jurisdictions globally are concerned about the potential growth of digital economy and the risks associated with reduced transparency...
The need for innovative and bold solutions to implement new technologies on a large scale is evident. Green Banks have been developed with this purpose in mind, raising and blending capital to finance local climate infrastructure while driving a surge in private investment. These institutions can play a significant role in mobilizing finance to support...
Countries must invest in and build clean and resilient infrastructure for the world to address the climate crisis and develop equitably. National goals to transform energy use and deploy low-carbon solutions across sectors require investment in projects at the local level. Governments are struggling to source and subsequently deploy sufficient levels of funding for high-priority,...
Climate change is a pressing global concern that poses a significant threat to economic prosperity. The economic costs of climate change can be felt in various industries and sectors, and have a notable impact on global GDP. According to a 2018 report by the Global Commission on the Economy and Climate, failure to take action...
Background The Appellant is a registered taxpayer whose principal business is grading and packaging of flowers for export. It is located in Naivasha Kenya. The Respondent is a principal officer of Kenya Revenue Authority, Kenya Revenue Authority is an agency established under the Kenya Revenue Authority Act for the collection of Government revenue and related...
Public Private Partnerships (PPPs) are always structured as Special Purpose Vehicles (SPVs) for reasons outlined in our previous article on the Fundamentals of PPPs. An SPV’s financial performance is analyzed on its own merit, it carries its own risks and it does not affect other investments made by the parties who have invested in it....
In our previous thought leadership, we explored why developing economies in Africa should tap into private sector and sovereign funds to finance their Nationally Determined Contributions (NDCs). Development of climate resilient infrastructure will play a key role in climate risks mitigation and adaptation going into the future; hence there is a need to widen the...
Risk free rates (RFRs) represent the cost of borrowing that a borrower would incur without the lender taking into consideration the counterparty risk level of the borrower. They indicate the return that investors should get on zero risk investments and are used by the financial markets as a benchmark upon with risk premiums are added....
The LIBOR rate was believed to be a true reflection of the markets’ cost of borrowing funds independent of government interference. However, investigations by regulators and journalists after the financial crisis revealed that LIBOR had been manipulated by the banks themselves and at times from influence of regulators. Banks had an interest in keeping the...
The Profit Split Method: it logically follows that the residual profits will be allocated to those entities contributing the unique and valuable intangibles and making the crucial strategic decision (entrepreneurs), while entities performing supporting functions will be allocated a small and stable (routine) remuneration. The aim is aligning profits with value contribution. It is useful...
Transactional Profit Methods The Transactional Net Margin Method (TNMM): Net Margin data derived from uncontrolled transactions. TNMM examines the net profit relative to an appropriate base like costs (Net Profit return to Costs), sales (Net Profit return to Sales), or assets (Net Profit Return to Assets). It operates like a cost plus or resale minus,...
The Cost-Plus Method (CPM): Gross profit margin data expressed as a mark-up of production costs incurred in uncontrolled transactions. OECD GL paragraph 2.45 states that cost plus method begins with the costs incurred by the supplier of property (or services) in a controlled transaction for property transferred or services provided to an associated purchaser. An...
Most countries, the OECD and the United Nations transfer pricing guidelines have all built in a degree of flexibility into their approaches, allowing other methods to be used in specific cases, provided that they approximate an arm’s length result and are acceptable to all the parties involved – that is acceptable to the tax administration,...
Materiality and double materiality are two critical concepts in business sustainability reporting, and they play a vital role in ensuring the effectiveness and credibility of sustainability reporting. These concepts determine which sustainability topics are relevant to a business and its stakeholders and the level of detail that should be reported about them. Materiality refers to...
Income tax treaties begin with the recitation that they are entered into between countries for the purposes of avoiding double taxation of international income flows, and the prevention of fiscal evasion with respect to taxes on income and capital gains. Permanent Establishment (PE) is a key concept in international corporate tax planning, used by tax...
Reference rates are critical to the financial system. They are the benchmarks that lenders and borrowers refer to when setting the interest rates on credit. They also form the backbone of interest rate derivatives such as interest rate swaps and futures. The London Interbank Offer Rate (LIBOR) has been the reference rate for over 400...
The Organization for Corporation and Economic Development (OECD) published a consultation document on Pillar One Amount B on 8th December 2022 with a deadline on 25th January 2023. The Amount B is intended to standardize the remuneration of distributors (Subsidiary or permanent establishment) that buy products from related party for resale by using the separate...
The global economy started cooling off in 2022 and it is expected that we might end up in a recession in 2023. However, there is nothing new about recessions and the cyclical manner in which the world economy operates over the years. What we are currently experiencing has been experienced before and governments, businesses and...
Africa is currently facing a number of economic challenges, including poverty, inequality, and lack of access to basic services such as electricity and clean water. However, there is also a growing recognition that investing in sustainable infrastructure can help to address these challenges and promote economic growth. International investors are looking for opportunities to invest...
It is estimated that Kenya generates between 3,000 to 4,000 tons of waste per day, majority of which originates from urban areas. According to World Bank, the country’s capital, Nairobi generates between 2,000 to 2,500 tons of waste day. The portion is significant to the total waste generated in the country as a result of...
The transaction advisory industry is currently undergoing a significant transformation owing to the growing use of chatbot technologies such as ChatGPT. These technologies have the potential to revolutionize the way that transaction advisory firms and professionals operate by automating repetitive tasks, providing 24/7 support, and improving client communication. One of the most promising use cases...
Airbnb and Uber are examples of a two-sided marketplace that really works. But they’re the exception, not the rule. This type of business is hard to build and grow unless you tackle a couple of fundamental issues at the outset. Two-sided marketplaces have become one of the most popular types of online business models, attracting...
Key issues and concerns remained at the end of the previous trade negotiation round. Developing countries felt that more needed to be done to strengthen the multilateral trading system. The prevailing system then for example, permitted developed countries to impose temporary trade restrictions to protect local industries and hence negotiations on safeguards were to continue....
Carbon pricing should be a key component of any climate mitigation strategy designed to assist countries in reaching net zero emissions by 2050. Humans depend majorly on fossil fuels to drive their economies and that’s why we need an immediate way to encourage the shift to clean energy by imposing tangible economic pressure. Policymakers considering...
The African Continental Free Trade Area (AfCFTA) envisions a continental market of about 1.3 billion people with a combined GDP of over $3.4 trillion. In the 12th extra ordinary meeting of the African Union held on July 2019 in Niamey, the operational phase of AfCFTA was launched. What characterized the launch was the adoption of...
The global economy is growing rapidly coupled with integration of national economies and markets. This growth has created an opportunity for profit shifting by Multinationals from high-tax jurisdictions to low-tax jurisdictions through treaty shopping; which has been cited by OECD Inclusive framework as one of the major sources of BEPS concerns. Against that background, OECD...
Despite the successes that were seen in the Tokyo round, it had challenges that clearly highlighted the in-ability of the GATT system to liberalize trade. These shortcomings were a clearer indication that a body with a wider mandate than that of the GATT, and with stronger enforceable rules was needed. It left vague forms on...
The omnichannel way is the only way Many digital and traditional store companies employ un-optimized marketing strategies. These strategies usually deploy several marketing campaigns geared towards customer acquisition and retention. However, many of these campaigns are disjoint in the customer’s journey, from awareness to repeat purchases. In recent years, we have noticed both parties (digital...
Abuse of tax treaties has been cited by Organization for Economic Cooperation and Development (OECD) as a key source of base erosion and profit shifting (BEPS). The Multilateral Instruments as Action 15 (MLI) helps the fight against BEPS by implementing the tax treaty-related measures developed through the BEPS Project in existing tax treaties in a...
COVID-19 Pandemic was a blessing in disguise for the fashion industry as the use of social media to discover and shop for clothing gained traction. According to the State of Fashion 2022 Report by McKinsey, 74% of consumers are more confident to shop online through social media channels than they would have before COVID-19, with...
Greenhouse gas (GHG) emissions pose several potential economic and environmental risks to property, human health, agricultural productivity, and the ecosystem. Carbon pricing transfers the cost of the damage caused by GHG emissions back to those responsible. Instead of dictating who should reduce emissions where and how, a carbon price sends an economic signal to emitters,...
Over the past decade, governments across Africa have been working towards transitioning their countries into developed economic status. This development race is characterized by increased investment in transport and energy infrastructure; as well as other public utilities such as hospitals, schools, waste management systems, and public recreation facilities. However, funding for these mega projects across...
Many African seaports have suffered from underdevelopment, inadequate port infrastructure, congestion, and inefficiency. This has necessitated the development of a proper mechanism to help alleviate the challenges; resulting in the development of the dry port concept. Dry ports, are a new concept in Africa, having originated in Europe and North America. Dry ports are intermodal...
Article 6 to 21 of OECD Model Tax Convention on Income and Capital provides the basis for taxation of the various income heads noted as well as allocating taxation rights to the relevant state. According to Veronika Daurer (Fellow, Monash University Taxation Law and Policy Research Institute), in the absence of a treaty between a...
Africa’s economy is highly dependent on the international markets for both exports and imports. COVID-19 pandemic highlighted the continent’s extreme vulnerability to disruptions of international supply chains; as 53% of its imports originated from nations that were heavily impacted by the pandemic. With over 60% of the nation’s being importers of essential goods, global trade...
E-commerce has experienced an exponential growth curve over the last decade. Consumers are now more than ever comfortable with buying commodities and making payments online. As a response, companies have been actively looking for ways to pivot their business models to align with the new normal. As a result, subscription-based businesses have grew by 300%...
The Kennedy Round of Negotiations The sixth round of negotiations under GATT was called the Kennedy round named after former United States President John Kennedy; and took place between 1963 to 1967 in Geneva. 62 countries participated in this round, including seven members of the other European trade bloc, the European Free Trade Association. This...
Africa has developed a 2050 Marine Integrated Strategy, which serves as a road map for addressing Africa’s maritime challenges for long-term development and competitiveness. The strategy seeks to increase wealth creation from Africa’s oceans, seas, and inland waterways; by developing a thriving maritime economy and fully realizing the potential of marine-based activities in an environmentally...
Kenya actively participates in international trade to expand its market and have access to products that it lacks domestically. In 2021, the country’s total export was estimated at USD 6.739 billion with horticulture and tea among its leading export items valued at approximately USD 1.4 billion and USD 1.1billion, respectively. In that same year goods...
Income tax treaties begin with the recitation that they are entered into between countries for the purposes of avoiding double taxation of international income flows, and the prevention of fiscal evasion with respect to taxes on income and capital gains. According to international law as presented in Vienna Convention on the Law of Treaties 1969...
The widespread adoption of technology has enhanced the quality of human life in virtually all aspects. From a healthcare perspective, machine learning (ML) has had a profound impact on the evolution of service delivery within the sector. For instance, advances have been made in medical imaging using machine learning algorithms able to process tremendous amounts...
For countries to arrive at a consensus on trade agreements they have to sit down at the bilateral or multilateral level first. Initially, rounds of trade negotiations that were done under General Agreement on Tariffs and Trade (GATT) involved the member countries exchanging a list of requests and offers on products that were of interest...
Africa’s infrastructure development remains severely deficient, with an estimated need for infrastructure investment of more than USD 100 billion. Like the region’s internet development since the early 2000s, the rest of the sectors particularly transportation infrastructure; must be well established to reap the enormous benefits of connectivity. A good internet connectivity ensures faster and more...
Once a product has reached its last mile of distribution, most companies will not invest their resources in tracking the performance of that product. Concerns of incomplete orders, product mismatch or delayed delivery time have to be taken up by customers themselves to the company’s customer care department. Yet in the event that any of...
The world’s tax treaties are based on precedents found in an OECD model tax convention or a UN model tax convention. Both models divide taxing rights on cross-border investment and business activities. The OECD model shifts taxing rights to capital exporting (residence) treaty partners while the UN treaty allows capital importing countries (Source country) to...
Most of us have been either to a physical store or an online shop and at checkout, been provided with the option of acquiring the product without paying the full price at the point of sale (POS). Sounds familiar? Unbeknownst to many, the ability to own a product and slowly pay for it has been...
To promote and enforce fair trade practices between countries, the World Trade Organization (WTO) headquartered in Geneva, Switzerland was formed in 1995. Currently, WTO has 164 member states with 25 other countries negotiating for membership. The institution which currently has oversight on 98% of global trade; is the successor of the General Agreement on Tariffs...
The rapid growth in global trade which has seen complex supply chain structures being put up, has cemented the role of logistics in the industry. Logistics is a critical component in supply chain management (SCM), as it helps in planning and coordinating movement of products in an effective, safe and timely manner. The end goal...
According to a recent report released by OECD/G20 Base Erosion and Profit Shifting Project, dubbed “A Progress Report on Amount A of Pillar One”; there is an ongoing development to update and fundamentally reform the international tax rules by 137 members of the OECD (Organization for Economic and Corporation Development) who joined the statement on...
Welcome to Starbucks, a “bank” that sells coffee. The luxury coffee maker held about USD 1.5 billion of preloaded funds in the 4th quarter of 2021. And if you think USD 1.5 billion is not a huge amount; more than 85% of banks in the USA have less than USD 1 billion in assets. Starbucks...
According to the World Bank there were fifty regional trade agreements in force by 1990; with recent data from the World Trade Organization (WTO) putting the number of regional trade agreements in force at 354 as at March 2022. One such major trade agreement signed recently is The Africa Free Trade Agreement (AfCFTA). This continental...
Global VC funding has been cooling off in 2022, following an aggressive rally in the past two years. However, Africa has largely been an outlier in this trend by evading the slowdown; until the month of July. The month of July experienced a 20% drop from the amount raised in the same month in 2021;...
To combat climate change, trillions of dollars in climate investment must be leveraged; as well as climate change transparency and accountability in order to monitor and evaluate the effectiveness of climate finance. Transparency and accountability are pivotal due to the fundamental imbalance of power within and across nations. Improvement of both values is required to empower...
Counterfeiting is a billion-dollar industry that is widespread globally. Each year, the industry generates an estimated USD 250 billion in revenue. According to the Anti-counterfeit Agency (ACA) 1 in every 5 products retailing in the market in Kenya is a counterfeit; with over 4 million Kenyans consuming the counterfeit products. In 2017, counterfeits rivaled top...
Risk management is a planned and a structured process aimed at helping the project team make the right decision at the right time to identify, classify, quantify manage and control risks. Defined broadly, hospital risk management is concerned with a t variety of issues and situations that carry potential liability or casualty losses for an...
The last decade has experienced an upsurge in e-commerce adoption, with the e-commerce market size growing to approximately 4.9 trillion USD in 2021. This growth is expected to hit 7.4 trillion USD by 2025. Closely mirroring the growth of e-commerce and by extension facilitating e-commerce transactions are e-wallets. It is estimated that 49% of the...
Digital technology and the adoption of the internet continues to bring in structural changes to all segments of the economy; and the financial services space has not been spared. Traditional banking processes have been completely transformed, with the relevance of banking halls in the future being questioned. Banks have jumped on the digitization trend by...
Since 2020, investment flows into the startup ecosystem in Africa has been at an all-time high; hitting USD 5.2 billion in 2021; as reported by the African Private Equity and Venture Capital Association (AVCA). Ticket sizes for later-stage investments have consistently crossed the USD 100 million mark; and we are starting to see the capital...
Infrastructure development is a key driver of progress in Africa, as well as a critical enabler of productivity and long-term economic growth. Closing the infrastructure financing gap estimated at $100 billion per year is critical for the continent’s economic development, people’s quality of life, poverty eradication, and business expansion. Africa’s infrastructure deficit can be divided...
Supply chain management (SCM) refers to all the steps and processes involved in the lifecycle of a product, right from its conception, creation, distribution, up until its consumption. At each stage of the life cycle, supply chain managers are tasked with maintaining efficiencies in the production processes and ensuring timely deliveries to the consumers. Over...
According to research by Oleg S. Pianykh, the potential contribution of machine learning (ML) to healthcare operations and management has largely been unexplored. It is therefore against this backdrop that the operational sphere of healthcare has much to benefit from machine learning. It is noted that the major hurdle healthcare systems face is managing patient...
The global food and grocery industry has experienced tremendous disruption, thanks to the Covid-19 pandemic. As highlighted in our previous article on “Digital transformation in the food and grocery delivery industry in Kenya”, this disruption was experienced in an array of industries leading to the “tech-celeration” of digital innovations. Five years of technological advances were...
An increase in access and adoption of internet as well as recent events such as the Covid-19 pandemic that limited people’s movement have catalyzed a rapid transition into online banking across Africa. Today it is possible to get a loan from a bank without ever seeing the inside of its halls. Leveraging on this market-driven...
Independently, governance, risk and compliance (GRC) have always been of concern to businesses especially those in the financial services who face numerous regulations. GRC is an approach to management that looks at the 3 principles holistically throughout the entire organization. Under GRC all three components have to be implemented collectively, as opposed to having just...