Home Latest News Business
Category:

Business

Business

Michael Joseph reveals how, why Safaricom landed on Peter Ndegwa as CEO

by Pauline Waswa
written by Pauline Waswa

Safaricom Interim Chief Executive Officer Michael Joseph has revealed how the telecommunication giant landed on Peter Ndegwa as the CEO of the company.

Speaking in an exclusive interview with Citizen TV, Michael Joseph said the newly appointed CEO Peter Ndegwa was given the chance as a way of natural progression rather than giving in to demands.

Micheal Joseph was responding to questions from Citizen TV’s Yvone Okwara.

“I wouldn’t say we gave in to demands but becuase it is the right thing to do especially after 19 years of safaricom. By now a Kenyan should run the company,” he said.

Michael Joseph is a Kenyan-American businessman who was the founding CEO of Safaricom Limited, the largest telco in Kenya.

Currently, he is acting as the interim CEO after the death of former CEO Bob Collymore.

He is also the Chairman of Kenya Airways.

In the interview, Michael Joseph said it is true there has been pressure to get a Kenyan to replace Collymore.

There was pressure and it has always been there people asking why not a kenyan while others said why Kenyan and not just have the best person for the job,” he said.

He added, “This is the right time to define the right kenyan for the job”.

Micheal Joseph said Safaricom is not jus an ordinary company but has a specific DNA.

“It is not just about voice, data and SMS company but touches on financial services and impact communities in different corporate social resposbibilities. So this is a big company that touches on every facet of the Kenyan society.

Safaricom on Thursday announced that it had appointed Peter Ndegwa as the new Chief Executive Officer.

The Safaricom PLC Board of Directors in a statement Ndegwa’s appointment will take effect from April 1, 2020.

Ndegwa joins Safaricom from Diageo PLC where he is the Managing Director of Diageo Continental Europe.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
BusinessLatest News

Safaricom introduces a NO EXPIRY DATE data bundles after being sued

by Mustafa Juma
written by Mustafa Juma

Telecommunication giants Safaricom have introduced a no expiry date on their data bundles after they were sued.

Safaricom on Wednesday morning got themselves in yet another data and airtime heist where Kenyans got a chance of stealing from them due to a technical problem.

In screenshots shared on social media after the heist that happened between 3:00am and 4:00am, safaricom has introduced the no expiry date on their data.

Image

A city-based lawyer on Tuesday filed a complaint against Safaricom ,Airtel and Telkom Kenya over high cost of data and expiry of unused data bundles.

In his complaint to the Communications and Multimedia Appeals Tribunal, Adrian Kamotho accused the three firms of unlawfully and irregularly depriving consumers of their unused data bundles.

Mr Kamotho said the firms have failed to provide an option to consumers to roll over unused data thus illegally depriving them of their property.

“The complainant is immensely aggrieved over the high cost of data and profoundly frustrated by the arbitrary expiry of hard earned data bundles…Expiring data bundles have become a thorn in the flesh of Kenyan mobile users. Despite charging an arm and a leg for data, the Respondents have been depriving off consumers, the right to quiet enjoyment of legitimately acquired data bundles,” Mr Kamotho said in his complaint.

Further, Mr Kamotho accused the telcos of discriminating against their consumers by charging them “out of bundle” rates that are different from normal bundle rates.

The lawyer wants consumers allowed to keep the data that they have purchased for as long as they remain active on the vendor’s network.

“Data should not have an expiry date until used up‚ as long as the SIM card is active and the consumer keeps recharging,” said Mr Kamotho.

Mr Kamotho said the data expiry model is unfair to the poor majority, who can buy low-amount bundles, which are designed to expire sooner than big bundles, which only the rich can afford.

He said requiring consumers to use their bundles within a given period is irrational, given the phenomenal deficiency in network coverage in various parts of the country.

He said the firms should send consumers reasonable depletion notifications to enable them to track usage.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
BusinessLatest News

Patrick Njoroge: Central Bank Governor of the Year for Sub-Saharan Africa

by Mustafa Juma
written by Mustafa Juma

The Governor of Central Bank of Kenya Patrick Njoroge has been named the Central Bank Governor of the Year for Sub-Saharan Africa.

The annual award by GlobalMarkets magazine recognises exemplary individual effort by CBK managers across the world.

Njoroge was awarded for improvements in the banking sector in Kenya during his tenure and for helping the expansion of Kenya’s domestic capital markets.

”Njoroge has presided over a period of consolidation within the Kenyan banking sector that has helped clean up the country’s banks and vastly improve oversight over the sector. Banks have tightened their lending standards in response, thanks to the central bank’s oversight,” GlobalMarkets said.

In a statement to media houses, the apex bank said the award reinforces Njoroge’s high acclaim amongst central bank managers in the continent and globally, having scooped the same award in 2016.

While accepting the award, Njoroge recognised the work done by CBK staff, and pointed to the ongoing work in support of the innovation and green finance.

He dedicated the award to the youth of Africa.

Njoroge is serving his second term as CBK governor, having been reappointed by President Uhuru Kenyatta in June for another period of four years.

He has been on the forefront of fighting for the repeal of the interest capping law that was introduced in his early days in office in 2016.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
BusinessLatest News

Sakaja files petition to have Mary Wambui’s appointment to NEA revoked

by Mustafa Juma
written by Mustafa Juma

Nairobi Senator Johnson Sakaja wants appointment of former Othaya MP Mary Wambui to the National Employment Authority (NEA) quashed.

The Senator says the the appointment goes against the provisions of Section 10(2) of the NEA act.

‘I have asked her to politely decline this appointment’, Sakaja said in a statement.

The appointment of Mary Wambui and many other old people brought to sharp focus the issue of youth unemployment since last week.

Sakaja believe that Mary Wambui is no fit for the position and can serve Kenyans ‘in a different capacity’.

‘Hon. Mary Wambui Munene is known to me, as we served together in the 1 1 th Parliament as well as having been a member of The National Alliance party which I chaired. I have confidence that she has the ability to serve Kenyans in a different capacity but not as the vision carrier and Chairperson of the National Employment Authority. I therefore urge her to politely decline this particular appointment’, he wrote.

The Senator went a step further to file a petition to have the appointment revoked.

‘I have further instructed my lawyers as well as those of the Kenya Young Parliamentarians Association to file a petition this morning seeking to quash this appointment. The respondents of this suit are The Cabinet Secretary of Labour, The Hon. Attorney General and Hon. Mary Wambui Munene’, the statement concluded.


0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
BusinessLatest News

Atwoli sacked from NBK board

by Mustafa Juma
written by Mustafa Juma

COTU Secretary General Francis Atwoli has been relieved his duties as board member of the National Bank of Kenya (NBK) recently acquired by the Kenya Commercial Bank (KCB).

According to a local publisher, KCB has announced the purging of the former board and appointed seven new directors who are expected to breathe a new lease of life into the previously troubled bank.

Atwoli who occupied one of the two seats reserved for the National Social Security Fund (NSSF) nominees represented workers’ interests in the lender.

Besides Atwoli, former NBK Chairman Mohammed Hassan, Mark Obuya and Joseph Kering have also been given the boot.

The new management has also done away with board seats reserved for treasury cabinet secretary and the managing trustee of the NSSF.

“Following the completion of all the regulatory processes for the takeover of National Bank of Kenya, changes have been made to the board of directors,” reads the public notice.

“The directors have voluntarily retired from the board to pave way for the smooth transition,” adds the notice.

In their stead, KCB has appointed  NBK chief executive Paul Russo, John Nyerere, Stanley Kamau, Jones Nzomo, Linnet Mirehane, Gen (Rtd.) Julius Karangi and KCB CEO Joshua Oigara.

“The new board will provide oversight over all the operations of National Bank in line with the overall KCB Group strategy,” adds the notice.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

You Can Now Bet With Sh1 Bob on Odibets

by Mustafa Juma
written by Mustafa Juma

You heard right, with only Sh1 Kenyan shilling, you can now place your bet on Odibets and win up to Ksh1 million betting on sports. Nothing significant can be done with a shilling but the popular betting firm has given you a chance to become an instant Millionaire.

FREE bonuses and bets

To add the icing on the cake, Odibets offers free bonuses and bets for the first deposit you make after signing. The website has a free bet worth 30 bob to all new customers and 20 bob Odi League bet to get you started in the right direction.

Punters are lucky since the betting firm offers numerous free bonuses to customers daily. New customers get a refund of the Mpesa service fee charged on their first deposits on Odibets.

Bet “insurance”

Although Odibets religiously pays winners, it doesn’t neglect those customers who lose a bet. They have a bonus scheme targeting customers who lose a bet. If you lose the first bet of the day, you qualify for 30% cash back on your stake.

Friendly website

The Odibets website has been designed to work well on all devices especially mobile phones.  With the simple design, customers can navigate unlimited football bets, boxing, volleyball, basketball bets, tennis and other sports 24/7.

Boosted odds

This is a distinct feature on Odibets offers. If you’re looking for the biggest odds in Kenya, Odibets is the answer – providing up to 130 markets to bet upon. And if that’s not enough, Odibets also boosts your winnings. Every bet gets 10% more on each win, with simpler terms and conditions.

Odibets is one of the few betting websites that have been given leeway to operate. The website has the highest number of bet winners who stake small in Kenya. Don’t wait to try this betting website. Get your free bet by clicking here to join: https://odibets.com/freebet

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

CBK Governor Reveals Amount of Money Recovered in Demonetisation Exercise

by Mustafa Juma
written by Mustafa Juma

Central Bank of Kenya Governor Dr Patrick Njoroge has revealed the amount of money in old Ksh 1000 the state was able to collect in the just concluded demonetisation exercise.

Speaking during a press conference at the CBK headquarters in Nairobi on Wednesday, Njoroge said that the State has collected 209.66 million old-generation Ksh1, 000 notes out of the 217 million pieces that were in circulation by September 30

Njoroge said that throughout the exercise that began on Madaraka Day, June 1, the State flagged 3, 172 suspicions transactions.

He noted that Kenya had two reasons which triggered the demonisation exercise.

“Demonetisation is done for a number of reasons. In Kenya, we did it for two reasons: the first one, was to deal with illicit financial flows in Kenya and other countries. The second reason was that we needed to deal with counterfeiting of the Kenyan currency; the bank note of choice was Ksh1, 000,” said Njoroge.

“We did not do that to destabilise your financial position,” he added.

The CBK chief said the regulator chose a 4-month window to wipe out the old-generation Ksh1, 000 notes so as to give Kenyans ample time to exchange the old money with new tender.

“There are two general approaches to demonitisation. The first one is what is called the shock approach, where you demonitise overnight. This happens where there is significant dislocations in the economy. The other approach is the gradual approach, which minimises disruptions to the economy and also enhance the effectiveness in addressing the objectives; in our case, it is corruption, money-laundering and tax evasion,” said Njoroge.

“There are some questions that Kenyans asked throughout the exercise: Some said: ‘was 4 months enough’? Others said: ‘Was 4 months too much? Maybe we should have done 2 months’. We had to strike a balance between being overly generous for the common mwananchi to allow them a lot of time to exchange the old money,” said Njoroge.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Personal Systems Launches Apple Mono-Brand Store to Enhance Customer Experience

by Mustafa Juma
written by Mustafa Juma

Authorised Apple Reseller Personal Systems Limited, has launched its refurbished Apple products and accessories store situated at the Ground floor of the Yaya Centre, Nairobi. The refit, worth over USD 50,000(Ksh 5,000,000) was fully funded by Apple through Redington; the Apple Appointed Independent Value Added Distributor for Africa.

The refurbishment was occasioned by Apples’s continuous desire to enrich the customer experience in tandem with the industry’s fast changing trends. World over, Apple has a legendary focus on customer experience that Redington, in partnership with Apple Premium Resellers (APRs) and Authorised Apple Resellers (AARs) front to ensure every customer touch point (products, the website, ads, app store, and retail store) yield a consistent Apple experience.   

Speaking at the launch ceremony, Redington Marketing Manager Ms Christine Judy said that as a true Value Added Distributor (VAD) Redington not only offers top-notch pick, pack and ship services, but offer also programs and services that add value to the distributed products that increase their value or worth.

‘ Our job is to offer value addition to products we distribute, that is why the success of this project is a boost to our portfolio and a continuation of our splendid partnership with Apple. The refitting of this store to boost the Apple in store experience, Ladies and Gentlemen is one of the many assists we offer to our customers,’ she added.

According to Redington, this revamp is one of many more to come as Apple seeks to further position its products on pole position in Africa and on the world map. Established in 2009, Personal systems Limited’s refitted Yaya Centre store apart from celebrating its 10th year anniversary marked an evolutionary milestone as the premier refit store.

Personal Systems Managing Director Mr. Mahmood Khambiye while speaking at the launch noted that Mono-brand stores are the next big thing locally. He added that the approach, which allows customers to experience Apple’s computers and devices hands-on and receive knowledgeable advice from the highly trained technicians, was the future of brand marketing.

‘As a technician and an AAR since the year 1994, I can authoritatively tell you that this approach is set to revolutionize marketing trends for Apple products locally while at the same time offering world class Apple experience. The Apple experience is King, it is what drives us, it is why we strive to make sure our customers are catered to in a way only Apple can,’ said Mahmood.

The store’s new identity, according to Redington’s Christine Judy is much more than a renovation – it signifies new energy and new direction. It combines Apple’s core values and reflects a collective vision of taking Apple stores, products and services to the next level of growth and expansion.

‘ We are delighted to be partnering with Apple and our AARs on this journey, we look forward to many more of these refits. In addition, we are setting the pace, keeping up with innovation as we endeavor to cement Apples footprints locally,’ she added.

Apple stores world over command the most traffic, it is the reason Apple strives to maintain standards and offer premier Apple experience.

‘Our mission is to offer great customer experience, a wide variety of products and accessories but above all, when a customer walks into a store, they must feel wanted, welcome and appreciated, that is what this restore is all about; our customers,’ noted Personal System MD Mahmood Khambiye.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
BusinessLatest News

Beware of Fake Notes as CBK Rolls Out New Currency

by Mustafa Juma
written by Mustafa Juma

The old Ksh 1000 notes are becoming obsolete at the end of this month, but do you still remember the features of the new currency?

Well, the Central Bank of Kenya has maintained the scheduled deadline and has warned the public of fake currency circulation ahead of the September 30 deadline it set earlier.

The public should remind themselves of the features of the new generation banknotes; their feel, look and tilt.

Let’s run our fingers over the note and feel the text ‘Kenya’, value and the edge where Sh50 notes have one bar, Sh100 (two), Sh200(three), Sh500 (four)and Sh1,000 have five bars.

Tilting the new banknote at an angle thus the security thread changes colour from red to green on all the banknotes.

The new currency however faces some hurdles after activist Okiya Omtatah filed a a petition to bar the roll out.

His verdict is expected from the High Court on September 27.

Chief Justice David Maraga appointed judges George Kanyi Kimondo, Anthony Charo Murima and Lady Justice Asenath Nyaboke Ongeri to handle the case.

Mr Omtatah accused the Central Bank of Kenya and its governor Patrick Njoroge of violating Article 231 (4) of the Constitution that prohibits the use of individual portraits in currency notes and coins.

0 comment
1 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

KRA to Monitor M-Pesa Accounts to Nab Tax Cheats

by Pauline Waswa
written by Pauline Waswa

Did you think your M-Pesa transactions were secure? Not if KRA has its way.

The Kenya Revenue Authority now plans to track our M-Pesa transactions to establish if what you declare on your tax returns matches what goes in and out of your mobile wallet.

The authority needs to collect  Sh1.9 trillion this year to finance the government’s Sh3.02 trillion budget.

So just to be sure you at not shortchanging the state, KRA plans to access and keep track of your financial flows through M-Pesa, PesaLink, PayPal and other mobile money platforms.The data will help the taxman match it with your returns to see if the figures are consistent.

Also on KRA’s radar for revenue are companies operating digitally in Kenya but with foreign physical addresses, such as Facebook, Twitter, Uber and Amazon among others.

KRA officials told the Star authority is aware of evolving businesses in the country, most of which have gone digital, hence generating money online.

Joseline Ogai, KRA deputy commissioner for Research, Knowledge Management and Corporate Planning, and Maurice Orei, a deputy commissioner in charge of Policy, said the authority has embarked on data matching in an increasingly digital economy.

In an exclusive, wide-ranging interview at Times Towers, the officials said data matching will help it monitor the transaction and reconcile the tax returns with the financial flows relating to an individual or company.

“We are taking data matching very seriously as our next frontier in digital revenue monitoring. Soon, we will be able to catch tax cheats who make nil or few entries in their tax filings, yet the money they generate online is high,” Ogai said.

“You cannot say you file less in returns but the amount of money you handle in your M-Pesa, maybe generated from your side hustles, is high and you are not declaring,” he said.

The deputy commissioners said the new approach is based on the fact that the informal sector is fledgeling and the conventional way of tracking financial flows has led to a lot of leaks.

“When I pay my mechanic, I use a mobile platform such as M-Pesa as the transaction is quick and informal. So if you look at that person [the mechanic], you may think he has no income yet he has, but informally, and he does not declare,” Ogai said.

He said while most commercial entities with mobile payment platforms such as paybill tills have a mechanism of tax compliance, numerous others avoid the tills, requiring their customers to pay via M-Pesa but in the conventional way of sending money directly.

They too must be netted to pay their fair share, Ogai said.

The use of data matching, according to the deputy commissioners, is already paying off. They cited cases in which high-profile business entities were spotted for allegedly evading paying tax by manipulating the system.

In one case, Ogai said, the data KRA had in its system had created a pattern over the years but they changed suddenly over a period, raising suspicion.

“We have data from the annual returns. The data includes the amount of salaries the corporates pay, their revenues and the tax they should pay. If we get less, we must get an explanation,” he said.

Further, the taxman will now connect money trails to monitor payments in the economy so that “we see if people receiving the payments as well as those making them are declaring,” Ogai said

“We will be asking you, ‘Why are you declaring this much [if it is less], yet so and so received payments from you, suggesting that your earning is higher?,” he said.

The push by KRA to monitor your mobile money transaction record is not new.

In 2016, giant telco Safaricom rejected the Treasury-backed taxman’s quest to gain unfettered access to its customers’ mobile money records.

KRA justified its move then, as now, that it was after busting tax cheats and widening the tax base.

In rebuffing KRA, Safaricom said there were no legal regimes that would allow the taxman access to the customer data as it would be a breach of confidentiality.

To address this hurdle, the officials told the Star that KRA is pinning its hopes on the Data Protection Bill already before the National Assembly to clear any grey areas that have barred it from accessing individuals’ digital money data.

Section 7 of the Data Protection Bill, which is undergoing stakeholder participation before the Senate, gives public institutions a sweeping mandate to access personal data without first seeking permission from an individual.

“An agency shall, subject to Subsection (2), where it requires personal data from a person, collect such information directly from the data subject for a purpose which is specific, explicitly defined and lawful,” the draft law reads.

These lawful purposes include prevention, detection, investigation, prosecution, and punishment of crime or complying with an obligation imposed by law.

“It is not that there are no laws empowering KRA to generate revenue from online transactions. But the hue and cry that arose when we first sought to implement this approach will be addressed by the Data Protection Bill currently before the House,” Orei said.

The officials said KRA is under immense pressure to generate more revenue to fund government ambitious projects, such as the Big Four agenda. Such pressure is normal, they said.

Foreign companies

Ride-hailing services such as Uber and Taxify as well as online malls such as Jumia and Kilimall among others will be accessed through this arrangement.

Facebook, Inc., the American online social media and social networking service company, is based in Menlo Park, California. Twitter is also American, headquartered in San Francisco, California.

Taxi-hailing company Uber is headquartered in the same city.

All of these companies operate in the country but their revenue is repatriated to their home countries.

Orei said the tax authority has entered into international partnerships that would see it appoint tax representatives abroad to assist it with collecting revenues for companies resident there.

For example, he said, Amazon which digitally operates in Kenya but has physical office addresses outside KRA’s jurisdiction, will be taxed through an appointed tax representative.

The representative will then remit revenues to KRA.

“All the companies even PayPal, Facebook, Twitter and others will now remit their revenues to our representatives in the countries where they are domiciled for onward remittance to us to help the government fund its projects,” Orei said.

The international partnership envisaged will only be realised if MPs ratify an international tax alliance framework called the Mutual Agreement Contract (MAC), which the authority signed recently.

“The MAC framework is already before the lawmakers to ratify and domesticate. We hope they expedite this so that it starts rolling,” Orei said, emphasising that this was part of the wider policy to broaden the tax bracket and collect more revenue.

CREDITS: Source Link

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

Pay less, talk more! South African communication ‘giants’ BTN to start operations in Kenya

by Mustafa Juma
written by Mustafa Juma

On the surface, telecommunication in Africa seems to be in a dire state. Most countries in Africa are plagued with the lack of infrastructure, internet connectivity and poor latency. Apparently, continued economic growth and new businesses in the African region is hampered by these obstacles.

Despite these big challenges, there are many Africans who are at the forefront of utilizing opportunities and taking a major role in establishing the telecommunications industry. One of them is Lwazi Nonguaza, a telecommunications enthusiast, digital media entrepreneur, public relations practitioner, content producer and the founder of Dream Africa Group, a one-stop digital multimedia African business content collection and republication platform.

He is also a co-founder at BTN Mobile a communication services platform providing affordable mobile and voice call services that helps users to cut their phone bill in almost half by paying less for calls using Greydot airtime.

In this interview with Founders Africa, he gives us an exposition into the growing telecommunications industry and the impact and solutions BTN Mobile offers.

Tell us a little about yourself

My name is Lwazi Nongauza, based in Johannesburg, South Africa. I am the founding director of a conglomerate called Dream Africa Group of companies.

I have diverse business interests in media, telecommunications, public relations and mining logistics. I recently joined BTN Mobile as an Executive Director, responsible for strategic business development and public relations.

Tell us about BTN Mobile and the solutions you are offering

BTN Mobile is a 100% black owned licensed digital telecommunication network that provides a range of leading edge unified communications services. The trilateral portfolio business focus strongly on free wireless services, affordable mobile and voice calls services.

The Greydot Mobile powered conglomerate is led by four seasoned entrepreneurs, namely; Thabo Nkhasi, Loago Ratitedu, Friedman Mbhalete and myself.

Our client base is made up of individuals from lower to middle Living Standard Measure (LSM), students, senior citizens, unemployed youth, young professionals and small medium enterprises.

What inspired the idea for it?

Lack of telecommunication and connectivity are some the most essential services that continues to keep majority of Africans socially and economically sidelined.

Upon noticing this crisis, as philantropic entrepreneurs, Mr.Nkhasi, Raditedu, Mbhalete and I decided to put together our resources and networks to keep this problem at bay. And it was through this that Mr. Nkhasi also got to know about Greydot Mobile. This was how the seed of this business was planted.

BTN Mobile was created to provide superior quality and cost effective telecommunications services to working class, the marginalised and young people in the African continent.

Tell us about your successes since launch

BTN Mobile has recorded a number of milestone achievements. I do not have a precise idea of which ones other directors will highlight as the landmark but for me it definitely has to be the fact that we successfully got more than almost half million subscribers in few months.

Also, being among the few selected businesses to attend the first South African Digital Economic Summit and annual African Innovation Summit is another highlight.

Working with local and international entities (including Greydot Mobile) is another achievement that I, and definitely other directors are extremely proud of.

What’s your most exciting moment as an entrepreneur?

I have a couple of exciting moments as an entrepreneur through the Dream Africa Group journey.

If I were to choose at least one most exciting moment, it would definitely be the game-changing business transactions that the BTN Mobile directors and I are negotiating with a multinational ISP which will see BTN Mobile being one of the 4IR revolutionary leaders in Africa.

Through this partnership we will be able to provide free Internet services to millions of people throughout Africa.

What’s the one thing that inspires you?

Everyday we hear, read and watch shocking headlines about what is happening throughout the African continent. Unfortunately those negative stories constitute largely the normal description of who we are as Africans.

We hardly hear, read or watch amazing stories about young and ambitious Africans, but there are many of them who quietly go about doing their businesses and make things happen. Those are my heroes and heroines, the true leaders of our beloved African continent and the people that give hope to us as Africans. Those are people that inspire me.

What are the future plans for BTN Mobile?

BTN Mobile’s plans for this year is to fully operate in at least 23 African countries, increase our revenue throughout the continent and contribute meaningfully to all areas that we serve in the African continent.

From your experience as an entrepreneur, what advice would you give young African entrepreneurs who are just starting out?

Our minds conceive achievable ideas. However, this in no way suggests that everything will come easy.

Therefore they need pursue their dreams knowing that enduring turmoil and conquering adversity are just ingredients of making extraordinary entrepreneurs. They must ensure that they invest 100% of their resources towards their startup, ask for assistance when needed and understand their market.

An entrepreneur is not a charity organization leader, so, entrepreneurs must render services that in return create revenue and not just investing in things only take from them. It is true that entrepreneurship can be a very lonely frustrating journey, so when that happens, they must remember that in most cases, bad experiences refines character and opens formidable reference bridges to attaining greatness.

So, whether your entrepreneurial journey is favorable or not, yours is to fulfill your dream.


0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Business

How Kenya denies EPL soccer clubs billions of shillings in revenues

by Mustafa Juma
written by Mustafa Juma

Kenya is among top five countries illegally enjoying streaming English Premier League (EPL) matches denying soccer clubs billions of shillings in revenues.

The study by AI-powered sports sponsorship and marketing technology firm GumGum Sports and global authority on digital piracy Muso was commissioned by an undisclosed elite EPL club.

It found China, Vietnam, Kenya, India and Nigeria enjoyed the billion-shillings content for free benefitting advertisers but not the clubs.

“Piracy audiences have too long been disregarded as offering no real value to rights holders and distributors, but the reality is that these huge audiences still see the same shirt sponsors and commercials as people watching the game via a licensed channel,” stated Muso co-founder and chief executive Andy Chatterley.

Mr Chatterley said sports rights owners now understand that uncaptured audiences help drive value for advertised products. The CEO said they are embarking on a study to establish the value of uncaptured piracy audiences globally to enable club managers to understand better before inking future sponsorship deals.

EPL is a major driver of the multi-billion-shilling betting industry in Kenya that last year raked in Sh204 billion in revenues with a paltry Sh4 billion paid as taxes to the Kenya Revenue Authority.

Telcos also benefit from fees earned from paybill transactions conducted by betters placing bets via the mobile payment platforms.

On Wednesday, the government withdrew licences for 27 companies affecting 12 million accounts saying the firms had failed to pay taxes while 19 companies had licences withdrawn.

Eight other firms had decisions on whether the licences should be renewed or not deferred to facilitate further scrutiny.

GumGum and Muso studied eight matches spanning the 2018-19 season where they discovered a total of 7.1 million viewers enjoyed illegal streaming.

Illegally streamed audiences in the US and the UK stood at position 10 and 11 respectively with each match generating over Sh129 million in lost sponsorship value.

Of the seven deal placements analysed, the majority of value came from field-side LED (rotating digital creative) and kit (front-of-jersey) sponsorship placements.

0 comment
0 FacebookTwitterPinterestLinkedinTumblrWhatsappTelegramEmail
Load More Posts