August, 2022 - iGrand Business Plans

Increasing Access To More Public Goods; A Legal Perspective Of Ppps In Kenya

Public Private Partnership in Kenya was commenced by the enactment of the PPP Act of 2013. The said Act was later repealed by a new PPP Act which came into force on the 23rd of December, 2021. PPPs provide a special purpose vehicle allowing the private sector to invest in public infrastructural projects. A good example of a PPP project in Kenya is the Nairobi expressway which is a PPP initiative between the government of Kenya and a private entity from China called China Road and Bridge Corporation (CRBC).

The current PPP Act establishes the legal and institutional framework governing PPPs in Kenya. The Act provides for the participation of the private sector in the financing, construction, development, operation and maintenance of infrastructure or development projects through the PPP model. Before the project is initiated, the contracting parties must first seek consent from the Attorney General as the chief legal advisor to the government. The parties have to notify and seek consent from the PPP Committee as well prior to tendering or cancelling a tender. Among the key PPP procurement methods provided for by the act are direct procurement, privately-initiated proposals, competitive bidding and restrictive bidding.

Pursuant to the Act, and supporting regulations, the contracting authority must be guided by the principles of transparency, cost-effectiveness and equal opportunity. The Act establishes the Directorate of PPPs which is a department under the Treasury responsible for setting and issuance of standard bidding documents to private entities and conducting the procurement process in liaison with the contracting authority. The directorate headed by a Director-General is also responsible for guiding and advising contracting authorities in project structuring, procurement and other tender evaluations among other functions. The PPP Committee is mandated to settle disputes emanating from PPP agreements and tendering processes including the cancellation of PPP tenders. The committee also formulates policies on PPPs, oversees the implementation of PPP contracts, approves standardized bid documents, approves feasibility studies, approves privately-initiated proposals, approves variation of terms among the negotiating parties and lastly monitors the implementation of the whole PPP legal regime in Kenya. The current PPP Act is investor-friendly by providing a variety of ways in which the PPP models can be initiated in Kenya. The improved PPP legal framework will increase access to public goods without overburdening the county and national government. The private entity gets compensation in numerous ways as highlighted under the Act.

Economics Of Unga Prizing In Kenya.

Fluctuating and cynical prices of consumable commodities in any country pose a very serious problem in the supply chain of goods and services. This does not only reflect the performance of the economy but also instability and unsustainable budget control of government operations. In the first half of 2022, Kenya has seen a rise in the price of maize flour from an average of Kes.112 per 2 kg to current Kes.136 across the country signifying a 21% increase between January and June 2022. Amid the excess supply of Maize from farmers in the harvest of December 2021 to the National Cereals and Produce Board (NCPB) the prices have continued to steadily increase without substantive mitigation from the government. Every two kilograms of maize that is supplied to NCPB is received at Kes.56. The hundreds of thousands of bags that are sold at Kes.800 would translate to Kes.18 per 2kg of flour. In the local mills, the cost of milling is about sh. 10 per 2kgs and what is packed and retailed in shops is grade 1 flour milled by big millers enjoying economies of scale which translates to lower costs. The ministry of agriculture estimated that maize consumption in Kenya stood at an estimated quantity of 55 million bags against a national harvest of 45 million bags of maize. This means that the country needs to meet the 10 million bags deficit by importing from countries with a surplus.

The government of Kenya has cited that cartels hoard maize for in anticipation for a prize jump. The government also argues that the country has enough grains for supply after the 2021 bumper harvest. On the other hand, maize miller’s protest about low supply level of maize stocks from farmers, high purchase price of the grains at the farm and high handling costs that are caused by a national inflation driven by high cost of fuel.

Regulation of unga prizes therefore factors all costs incurred by farmers, millers and retailers. Government subsidies are needed at each input level of the value chain. There is also a need to reassess our form of agriculture such that profits earned by farmers be driven by low input costs rather than high retail rates. Implementation of Strategic Grain Reserves should also be put in place to safeguard the needs of over fifteen million households who are not able to meet their minimum dietary requirements. These measures will not only secure a steady supply of consumable goods but also fulfill the right to food enshrined in the constitution of Kenya, 2010 Article 43 1(a).

How To Win Friends And Influence People – Dale Carnegie

Research shows that 85% of financial success for any business depends on human engineering skills, personality management and the ability to lead people. It is also said that one can make more friends in two months by becoming interested in other people than they can in two years by trying to make other people interested in them. It is for this reason that Dale thought it was important to educate readers on how to succeed in the fundamental techniques of handling people so as to impact and win them and also equip them with skills of how to change people without giving offense or arousing resentment. Dale believes that it is important for any human being to grasp the secret of getting along with people and learn how to make people like them.

When it comes to handling people, instead of criticizing, condemning or complaining, it is always wiser to make the other person want to do something by arousing an eager want in them. This can only be achieved by being genuinely interested in other people. Wearing a smile, listening intently and remembering people’s names are simple ways to make a good first impression that will communicate to them that you care and are interested in their welfare. Dale repeatedly said, “Always make the other person feel important – talking in terms of the other person’s interest pays off for both parties.”

On the other hand, when dealing with people conflicts are bound to arise. During those times, one should never be in a rush to tell people they are wrong, instead, one should strive to judge people by their own principles and show respect for other people’s opinions. However, when the time for confrontation comes, it is wise to begin in a friendly way with the things both parties agree on and keep emphasizing that you are both striving for the same end and that your only difference is that of the method, not the purpose. When one is wrong, it is important to admit it quickly and empathetically.

Always make the fault seem easy to correct. If you must find fault, begin with praise and honest appreciation. Praise the slightest improvement and every improvement. An effective way to correct others’ mistakes is to call attention to people’s mistakes indirectly. Talk about your own mistakes first before criticizing the other person.

Parklands’ Ideal Institution For International Schooling – Ar Risalah Academy

What key considerations do you make when selecting a school for your child? Parents may have different preferences but none is willing to compromise on the quality of education and moral upbringing of the child. In Nairobi’s Parklands area, a group of visionary mothers joined hands to create the best environment one can ever get in a school. They founded Ar Risalah Academy on pillars of Islam values. At the foundation stage, Ar Risalah Academy offered pre-school and the Cambridge International curriculum for grades 1 to 6. Year 6 class of the academic year 2021/2022 registered a remarkable mean grade of 4.4 out of 6 points where 8 out of 9 students 3.5/6.0 and above. The school has a new premise at General Mathenge Road where the Reception Graduation Ceremony for 2021/2022 was held on July 15^th of 2022.

With such remarkable success, Ar Risalah Academy is making another milestone by opening doors to high school learning for the internationally recognized Cambridge curriculum. The high school will also be in Nairobi’s Parklands area and shall be the hub for holistic education aimed at nurturing leaders. Ar Risalah Academy High is already admitting students ahead of the September opening. State-of-the-art amenities and equipment for learning are sufficiently provided to ensure learners get the best while schooling here. Your child gets ready for university education in a high school that is established on pillars of academic excellence, holistic upbringing and a cultivated discipline of leadership right from the schooling age. In my submission, Ar Risalah Academy High is the ideal institution for international schooling for children living in Parklands, Riverside, Westlands, Pangani and neighbouring residences.

The vision for Ar Risalah Academy High is to be an academic institution of choice providing world-class, integrated, holistic and excellent education. This will be achieved by building upon the values of the school namely compassion, responsibility and excellence among learners, staff and different sets of stakeholders. The success of this vision is being driven by investment in specialized teaching of an internationally accredited curriculum, leveraging modern technology to make learning convenient, deployment of highly qualified teachers and inclusion of extracurricular activities in the school program. For enquiries about admissions and different queries regarding enrollment in both the primary and high school, contact the admissions office at +254 729 292 564 or connect with the school on social media platforms for updates and community building.

Preparation For An Election Cycle For Smes

Hosted by KCB Biashara Club in December 2021

A story is told of a donkey that was tied to a tree when a demon came and released it. The donkey entered the field of a farmer and began to eat everything. The farmer’s wife saw the donkey and was afraid that it would destroy the farm, took the rifle and killed it. The donkey’s owner saw the dead donkey, got angry and also took his rifle and fired at the woman, killing her. When the farmer got home and saw that his wife was dead, he killed the donkey’s owner.

The donkey owner’s sons, seeing their dead father, burned the farmer’s field. The farmer in retaliation killed them. When they asked the demon what he had done, he said: “I did nothing, I just released the donkey.” This story relates so much with the season we are in as a nation. One simple act or word can trigger the evil intentions of men’s hearts to harm one another. So, let’s think before reacting. Be careful with our actions because many times, the only thing politics does is “release the donkey”, our role should however be to “tie back the donkey” and the force is disarmed.

Kenya is often referred to as one of the most stable African economies with a comparatively advanced small business policy. Dennis Allego, a famous editor once said “to survive this political storm and counter the ripple effect after that, businesses need to come up with strategies that will assist in cushioning the unforeseen election outcome.” This sentiment is similar to what Dr K. N. Jacob, a corporate trainer, conference speaker and life coach who was the presenter in this webinar addressed.

He shared two things to consider in preparing for an election cycle; electoral cycle conflicts and electoral cycle opportunities. Jacob mentioned we cannot ignore the fact that there can be conflicts or emotional escalation during this period hence it is good to be prepared as to be forewarned is to be forearmed. He encouraged attendees to be alert and updated on current affairs by listening to the news. He also urged people to avoid politics at work as that is usually against business etiquette. In mitigating risks during this time business owners need to have insurance for their business, move or reduce stocks, secure doors, close down, especially in volatile areas or relocate and also reduce travel during the period.

Nutritional Jabs For COVID 19; Improving The Efficacy Of Vaccines Through Good Nutrition

Have you gotten the Jab yet? If not, you ought to decide quickly because Covid 19 might stay longer. Vaccination helps one achieve herd immunity lowering the spread of the virus. However, a vaccine only provides the antigenic stimulus, and how the body reacts is influenced by the nutritional status and will vary among individuals. Healthy eating helps build the immune system, and conversely, lack of a healthy diet leads to weakening of both the innate and acquired immunity, making one susceptible to infections, whether they are vaccinated or not. Immune system dysfunction is considered to increase the risk of viral infections, such as SARS-CoV-2.

Some vitamins and trace elements such as zinc, iron, selenium and copper play a critical role in the functioning of the immune system. A review of micronutrients and their impact on the immune system suggests the role of vitamins C and D and zinc in strengthening immune support and reducing the risk of infections. Consuming a nutrient-rich diet is prudent to support the immune system and deal with pathogens. Normally, nutrient intake and incidence of disease impact the nutritional status of an individual, and a lack of it can lead to severe malnutrition. Malnutrition affects the quality of immune response to vaccination. A balanced and healthy diet ensures a robust immune system and a lower incidence of chronic diseases and infections.

Studies indicate a better response to vaccines and antibody stores in the elderly who consumed five or more servings of fruits and vegetables and/or Vitamin E supplements. Polyphenols, micronutrients naturally occurring in plants act as dietary antioxidants. Long-term consumption of polyphenols offer protection against cardiovascular diseases and diabetes due to their anti-inflammatory properties. Another study elicits the role of zinc and selenium in immunomodulatory effects in the management of COVID-19. A rapid review of vitamin D and COVID-19, suggests a possible role in the body’s immune response to respiratory viruses. And consuming diets rich in nutrients to improve immune responses As the world regroups and covid 19 relapses, it is increasingly important to have a nutrition-rich intake of food to reduce acquisition and the long-term complications from COVID-19. Whether or not you got the jab, it is important to eat healthily, and improve your lifestyle in order to ensure vaccine efficacy and that you are well cushioned from infections.

How About Financial Stability During The Elections?

Are you looking for safe ways to invest your money in this electioneering period? Do you have some money you would like to channel into profitable savings for your future? If any of these questions is a ‘Yes’ to you, then walk with me as I address some ways SACCOs are beneficial in this period.

SACCOs, mean ‘Savings and Credit Co-Operative Society.’ It’s a financial institution that operates on principles such as openness, responsibility, care and honesty, identity, and cooperative values. SACCOs is, therefore, a self-help member-based institution, offering loans to its members through their savings.

Holding an estimation of more than Kshs1.1 billion in savings and assets (Anyika, E. (2020), SACCOs and cooperatives have been transforming lives in the past years, with teachers, doctors, and farmers being the primary beneficiaries. SACCO membership is currently open to anyone to join the institution in putting savings together to provide low-rate loans to each member.

Here are the benefits of being in SACCOs during this electioneering period coupled with challenging economic conditions. To begin with, you can take an emergency loan against your savings or guaranteed by other members (s), which is processed within a few minutes, a perfect way to avoid shylocks.

Secondly, SACCOs encourage you to save more and acquire high financial stability. Bearing that we’re still recovering from the global pandemic, this season will require more financial stamina, and you might spend uncontrollably. SACCOs will help you save consistently, even during this period, and pay interest on your savings.

Anyone who has been a member of SACCOs will tell you that it’s an undisputable investment that pays good dividends to the investors. These investments have more guaranteed returns than any other, where each member has savings. This savings assures you of a quick loan, both during and after this election period, for school fees, and developments.

Let me now address the saving charges and loan-associated expenditures. Unlike other financial institutions, there are little to no fees on your savings in SACCOs. They have constant loan rates of 12%, which has been proven to be far below bank rates at any time (Otwoko & Maina, 2021). There is undoubtedly no more time to wait; save in SACCOs now for your future.

Top Trends In Global Marketing.

The extraordinary emergence of globalization has challenged global enterprises. It has, in turn, encouraged some enterprises to expand worldwide to meet the evolving markets internationally. Trends have arisen in global marketing aimed at producing better marketing efforts. The talent pool has been considerably enhanced, with 63 percent of college-educated persons working online internationally. It helps marketers in firms as there are a skilled number of persons who can construct the creative engine. Marketer’s today attempt to collect the most nuanced information about their consumers to tie brand messaging to specific events in their everyday life. Similarly, there is an increased demand for marketers to bring these insights back into the business to aid in shaping everything from purpose to customer data strategy. Therefore, the pool that is available online with persons knowledgeable in marketing intelligence has launched brands into wider scopes.

The internet is a massive collection of resources and information used for marketing purposes. On numerous websites, visitors must agree to cookies that gather data about them. This data is then utilized to plainly and purposefully market valuable goods and services to the user. This tendency, however, has made customers lose confidence, and some even find it unsettling to have their devices listening to them. Transparency and humanity are crucial in trusting and creating data experiences. According to Deloitte’s insights, Customers are 2.5 times more inclined to contribute personal information that enriches the product when organizations display transparency and empathy, and they are 1.7 times more likely to believe they have received more value than anticipated.

Seventy-one percent of CEOs have declared that they are willing to invest in hybrid marketing in the next 12 years. Hybrid Marketing is a blend of digital and physical marketing that has increased with prominent firms. It’s ideal to start by putting the human at the forefront of these experiences to meet the desire for updating them; marketing can benefit from key ideas of human-centered design. Brands can develop physical and digital experiences as fluid and flexible as customers have evolved to want by putting human needs first, picking a few individuals to be co-creators of the experience, and then immediately experimenting. A careful implementation of the global marketing strategies by Digital marketers will not only put the company at a vantage point but also give it a competitive edge, which in turn, will tremendously increase the company’s customer turnover and market share.

Business Plan Borrowing Over Collateral Loans

Have you walked into a bank and failed to secure a loan for lack of sufficient collateral? This is common when one is looking for funding to start or scale their business. But why does the conventional banking regime insist on loan collateral? Every commercial bank has a committee of credit approvers who analyze the risks involved in advancing credit to applicants. This committee is commonly referred to as BCC in Kenya’s banking boardrooms. It relies on an applicant’s credit rating from a credible credit reference bureau, turnovers in sales as indicated in bank statements and the amount of collateral provided by the borrower to secure the loan. This criterion limits many entrepreneurs from accessing seed and growth capital for insufficiency of collateral in assets like land, buildings, vehicles and stock.

A paradigm shift is now happening where ambitious entrepreneurs, large established businesses and strong institutions are banking on the strength of their strategies to convince lenders to fund their growth. This concept was first embraced by fund management companies before a handful of commercial banks adopted similar credit approval policies for business borrowing. So what exactly is business plan borrowing? The question can best be answered by explaining the concept of partnerships in business. Partners join efforts to complement each other. One may offer their professional practice while the other may help with marketing, funding or technology expertise. Anytime you involve a partner in your business, it becomes necessary that you document your vision and ways of attaining that vision. This provides harmony between partners and helps to test the scalability, sustainability and profitability of the business in the future. When borrowing from a fund management company, a business plan unites the entrepreneur’s vision with that of their lending partners.

Fund management companies will be comfortable lending to establish entrepreneurs whose financial requirement is significant or at least USD 100 million and return on investment projected to be at a higher rate than the interest rate. Business Plan loans are however classified as risky loans thus attracting higher interest rates in the range of 14% to 19% while collateral–based borrowing in Kenya attracts an average inveterate rate of 13% across top–tier commercial banks. It is therefore advisable to partially secure your business plan loan where possible in order to negotiate for lower interest rates. Business Plan loans also work best for thriving sectors where cash flows can accurately be forecasted.

Abenomics: Policies & Political Economy Of Japan’s Shinzo Abe

Leaders are born for tough times. Whenever there is a crisis, there comes the need for drivers of change whose success solely depends on their preparation for the moment and courage to face obstacles. In Prime Minister Shinzo Abe, Japan found a leader fit for an economic depression that had resulted in massive unemployment and the collapse of the world’s 3^rd largest economy of the time. Shinzo Abe was born in a political family where his grandfather had served as Japan’ Prime Minister in the 1950s. He rose to become the longest-serving Prime Minister in the history of Japan until September 2020 when he resigned. In July 2022, Shinzo Abe died in a political rally shooting ending the era of his power over Japan.

One would be interested to know what makes a man as legendary as Shinzo Abe. In my study of his policies and political economy commonly known as Abenomics; I made a few findings as discussed in this column. One’s background matters in how they build influence and exercise their authority. Abe’s grandfather Nobosuke Kishi was a prominent man and Prime Minister of Japan. He gave Shinzo Abe a head start in nurturing a political career that would last for decades. Abe also enjoyed support from the Liberal Democratic Party (LDP) which helped in crafting the popularity of his policies and managing his exposure to media. He enjoyed high approval ratings and wide popularity in Japan and the world over. He also cemented relationships with many African countries through the Tokyo International Conference on African Development (TIKAD).

Abenomics was a three – tire strategy to fix Japan’s main economic detractors. First were fiscal policies that encouraged huge government spending on infrastructure in order to create more jobs, pay workers and have these workers spend on consumable commodities. Second were monetary policies which sought to correct a case of unattractive bank loans due to high-interest rates. Shinzo Abe reduced interest rates on bank loans, printed more money and deliberately drove the country to an inflation rate of 2% up from a deflation. Japan remained more solvent than the USA amidst such disruptive monetary policies. The third level of Abenomics was in structural reforms that addressed the shortage of labour. Shinzo Abe incentivized people to sire kids through sponsorship of childcare and education. Abe also introduced womenomics where he mobilized women to join the labour force and participate in building the world’s third largest economy in Japan.