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Download Venture Magazine TRENDS INTEL INDUSTRY REGION PURSUITS URBAN REGENERATION HEALTH ICT EAST AFRICA TRAVEL GEMS NOT FOR SALE NOT Corporate Magazine | April-June, 2020 The Digital Decade World Economy Disrupted what Covid-19 means for your business continuity planning Regulated2 by| the Central Bank of Kenya 42 Tech boom taking hold of Rwanda: Artificial Intelligence and Big Data are giving telecommunication providers like MTN Rwanda more insights in understanding 18 their customers’ needs and behaviours Two decades of unimaginable growth: How the internet opened up an entirely new universe to a generation of Kenyans eager to explore new opportunities 28 Credit scoring in the digital age: Leveraging on mobile money infrastructure like KCB Mobi, to offer financial services to those 10 who were previously excluded from the formal credit market World economy disrupted: 50 According to the UN Economic Commission for Africa, Rise of the platform the Coronavirus pandemic could translate into a 1.4 economy: percentage decline in Africa’s economic growth for This seemingly simple idea 2020 is a complex phenomenon, and it is significantly disrupting the general concept of ‘normal jobs’ 54 Where the Angels stopped to admire the view | 3 WORDFROM TRENDS INTEL INDUSTRY REGION PURSUITS FLORICULTURE HEALTH ICT EAST AFRICA TRAVEL GEMS THEEDITOR FOR SALE NOT Corporate Magazine | January - March, 2020 Living in a digital age Corporate Magazine | April - May, 2020 he last couple of weeks have been unprecedented in the challenges that the global economy has faced as a result of the Corona Virus that has caused numerous deaths and a global lockdown. Trade World Economy Disrupted T and travel disruptions have been the order of The magazine’s main What this means for your business continuity planning the day, while the health systems, even in the focus in on the digital more developed countries, have been stretched to the limit and decade and how it is their vulnerabilities exposed. shaping the way we KCB Group Head of Corporate and It is a testament to interconnectedness of the global economy, interact, and how to Regulatory Affairs Judith Sidi Odhiambo and more so, in this day and age of air travel, how quickly it is for cope with the rapid a disease to be transmitted across the world. It has shown us how changes taking place Director Marketing and vulnerable our health systems are and the need for decisive action in this ever shifting Communications Angela Mwirigi to deal with this novel virus. sand dune and what That aside, your favourite magazine has once again paid special the future holds in Brand Manager Marketing and attention to the digital age, the fuel that is driving the global this sector. Communications economy. Linda Mwangi The magazine’s main focus in on the digital decade and how it Editor and KCB Bank Corporate is shaping the way we interact, and how to cope with the rapid Communications Manager changes taking place in this ever shifting sand dune and what the Peter Mwaura future holds in this sector. Project Editor We have looked at what some of the subsidiaries Anne Mathenge are doing in their countries as part of bridging the Production Editors: Esther Karuru, technology gap and easing the lives of people. In Mutave Mutemi, John Ngirachu Burundi for instance, we have focused on the leading telecommunications company there – Econet Leo – Contributing writers: Josephine Mosongo, Donald Kogai, Ivy Mutahi, and what it is doing to increase mobile penetration John Ngirachu, Cosmas Butunyi in the country through its innovative and cutting edge products. Art Director: Dennis Makori We looked to South Sudan and focused on how MTN KCB Group Corporate and Regulatory is managing to operate in a post conflict Affairs, Kencom House, Nairobi environment, rolling out services against all Tel:0711087000 or odds. 0732187000 / 0711012199 www.kcbgroup.com In this issue, we also traveled to Rwanda Facebook: KCB Group and looked at the technology boom in this Twitter: @KCBGroup land locked country that is fast becoming Instagram: @KCBGroup a country of many firsts in the region. WhatsApp contact 0711 087 087 You will also read about credit Give us your feedback at: scoring in a digital age. This is a very [email protected] enlightening piece, especially in KCB Venture is published for KCB this age of multiple lenders – both Group by Oxygène MCL traditional and digital – that has made [email protected] tracking the quality of loans, and the www.oxygene.co.ke borrowers, difficult without the aid of KCB Venture is available at all corporate technology. branches and at select hotels and In the pursuit section, you will find businesses in Nairobi. activities that can keep you away from the ©2019 No part of the contents may be hustle and bustle of our lives, and give reproduced without prior permission you a much needed breath of fresh air. from the publishers. All advertisements Enjoy the read, and stay safe. and non-commissioned texts are taken in good faith. While every care is taken to ensure accuracy in preparing the magazine, the publisher and KCB Venture assume no responsibility for effects arising therefrom. Editor-in-Chief 4 | Reimagining the Corporate Bank of the Future Peter Kathanga or years, corporate banking has been putting the Customer first, with leading value accused of being less agile and slow to propositions; Driving a Step change in efficiency innovate. Compared to retail banking and productivity; Being the Digital Leader and F that has embraced technology and Digital to the Core, and Building Scale to achieve has become the prime enabler of regional relevance. These thrusts will enable us to Without the digital economy, commercial banking is still deliver the three-year strategy. playing catch up globally. doubt, data One essential part of the transformation The verdict has always been that corporate and analytics journey for corporate banking is the adoption banks need to evolve not only to win new is the secret and full rollout of business intelligence, artificial businesses but to also retain the existing sauce that intelligence, and advanced predictive analytics to customers, to accelerate growth and become agile underpins boost our engagements with customers, optimize and digital-focused. the growth and extend business processes. Without doubt, data This wave of digitization in banking continues of corporate and analytics is the secret sauce that underpins the to exert pressure on corporate customers. bank of 2020, growth of corporate bank of 2020, and beyond. Increasingly customers are realizing that banks and beyond. These will provide unprecedented opportunities need to do more to empower them to be in charge for us to change and improve how we manage risk of their finances, support their businesses and and provide financial services including offering the facilitate trade. Overall, they demand for a better ability to provide customers with seamless real- experience, akin to the service level they get when time, and multichannel digital interactions. transacting on their personal accounts. Beyond risk selection and management skills, we This disconnect in service level offerings aspire to distinguish ourselves through superior between consumer banking and corporate cross-selling capabilities, loan-pricing skills, and banking is set to change in 2020. At the cost-efficiency. global level, corporate bankers are embracing In pursuing these objectives, we are increasingly technology and greater customer-centricity to adopting technology to increase efficiencies and drive the business. serve customers better. We have deliberate efforts to Embracing these new developments offers strengthen client relationships with differentiated forward-looking banks the best chance to realize multichannel coverage. a new competitive edge in a cut-throat market The global outbreak of COVID-19, has forced and a tough operating environment. us to immediately transition into online market The customer-centric approach is places that conform to social distancing central to improving the lifetime value measures. There is also a need to minimize of the customer through a design lead physical cash handling and we are focusing on to product development, delivery giving our clients solutions premised around and pricing whilst maintaining what is now the new normal through our personalized relationships. robust online banking platforms. At KCB Group, our new three- As a department, this year, we are focusing year strategy— Beyond Banking— on strengthening client relationships, digitizing that seeks to deliver the very our processes, redefining our product offerings, best in customer experience while and embracing technology. We are confident driving a digital future puts the of our transformation journey to becoming customer at the center of all that the corporate bank of the future. we do. Beyond Banking is anchored The writer is the Director, Corporate on four strategic thrusts include Banking at KCB Bank Kenya Beyond Banking is anchored on four strategic thrusts include putting the Customer first, with leading value propositions; Driving a Step change in efficiency and productivity; Being the Digital Leader and Digital to the Core, and Building Scale to achieve regional relevance. | 5 TRENDS&INTEL A city in transition To stay afloat, Mombasa is banking on the creation of a special economic zone and the city revitalization plan which authorities hope will spur tourism he creation of a Special upheld. taken over the city’s landscape, to offices Economic Zone at Dongo The study stated that Mombasa is at for clearing and forwarding agents, and Kundu and a plan to ‘economic decay point’ because with the the container freight stations that dotted revitalize the city could be job losses at the CFSs, there would be a the island, the city had grown around the T critical in securing the knock-on effect on the businesses that port, benefitting from the inefficiencies future of Mombasa. depend on the economic activity they that had made clearance from the port The downfall of the historical coastal used to generate.
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