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Browsing: Business
A new survey has now shown that only 36 percent of Kenyan businesses are aware of privacy laws governing their marketing activities, despite Data Protection Act (DPA) being in effect since 2019.
The survey, conducted by WorldWideWorx and commissioned by global technology company Zoho, also revealed that even though businesses are concerned about the privacy of customer’s data in the hands of third-party vendors, they are reliant on them for revenue generation and gathering customer insights.
This makes it harder for them to move away.
According to WorldWideWorx CEO Arthur Goldstuck, the lack of awareness about the law is largely because these regulations are not part of business-critical activities like taxation and licensing.
However, 77 percent of the businesses indicated that they have well-documented policies for customer data protection, although only 56 percent are strictly applying them.
The survey indicates that businesses in Kenya consider themselves digitally advanced, with 28 …
The private sector in the African continent is set to receive US480 billion in investments over the next five years.
The investments will be made by a consortium of organizations under the G7 Development Finance Institutions (G7 DFI) which includes the European Investment Bank and the private sector arm of the African Development to support sustainable economic recovery and growth in Africa.
The proposed investments come at a time when the Covid-19 pandemic has caused a severe global economic and health crisis, including in the African continent.
The IMF estimates that sub-Saharan Africa needs additional financing of around $425 billion between now and 2025 to help strengthen the pandemic response spending and reduce poverty in the region.
This marks the first time the G7 DFIs have come together to make a collective partnership commitment to the African continent.
The G7 DFI group consists of CDC, Proparco (France), JICA and JBIC …
NAIROBI, Kenya, Jun 14 – Kenyan businessman and industrialist Dr. Chris Kirubi, is dead.
His death was confirmed by his family in a statement quoted by Capital Group, one of the many businesses under his portfolio.
He was 80 years old.
“It is with great sadness that we announce the passing of Dr. Christopher J. Kirubi (1941-2021) who passed away today, Monday the 14thof June 2021 at 1 pm at his home after a long battle with cancer fought with fortitude, grace, and courage. He was surrounded by his family,” the statement by his family said.
Dr. Kirubi had invested in the Manufacturing, Media, Real Estate, Insurance, and Investment Sectors. Kirubi chaired several companies among them Haco Industries Limited, Kiruna International Limited, International House Limited, Nairobi Bottlers Limited, Sandvik East Africa Limited, and DHL Kenya.
He was also a director at the region’s most successful investment companies Centum …
Emerging digital threats, the Covid-19 pandemic, climate change and the US-China relationships are among the top five risks for business in 2021, according to a report published by Control Risk, the specialist global risk consultancy.
The danger of missing the rebound in a year of multi-speed recovery is a top risk for business in the coming year if these risks are underpinned.
“There’s no doubt that businesses will continue to face considerable disruption from the COVID-19 pandemic, but we believe that the opportunities are real and exciting for many companies in 2021,” said Nick Allan, Control Risks CEO.
In Africa, all the top five global risks are present but play out in unique ways. In some areas, the continent presents a positive break from the more negative global trends, such as in the regional cooperation shown by the continent in its response to the pandemic and the planned launch of …
The Mozambique business sector reported a loss of $453 million in the first half of 2020 due to the pandemic of COVID-19, the Confederation of Economic Associations of Mozambique (CTA) said.
The Confederation of Economic Associations of Mozambique (CTA) warned that depending on the evolution of the pandemic and of the economic dynamics in the second half of the year, the situation could worsen. The business lost revenue could rise to 951 million dollars, equivalent to about seven per cent of Mozambique’s Gross Domestic Product. (https://www.christophechoo.com)
Presenting a report on the impact of the pandemic in Maputo, the CTA’s acting chairperson, Alvaro Massinga, said that the level of economic activity fell by about 65 per cent in the first half of this year. The hotel and tourism industry were most affected by their level of activity shrinking by more than 75 per cent.
The report also showed that …