Inversk March 2021 Issue by Enterprise Magazine Kenya

INVERSK MAGAZINE

CONTENTS - MARCH 2021

| VOLUME 2 NUMBER 1

8 | Editor’s Note // Kimani Patrick

10 | theTopline - Business Headlines You Need to Know

COVER STORY 20

| HOW LIZZIE WANYOIKE BUILT KENYA’S TOP TECHNICAL COLLEGE NIBS started with 25 students who had come from a closed college and two hired teachers who taught in Pioneer House, Moi Avenue BY DEBBIE GITAU

FOCUS 12

| HOW KENYA’S GIGSASA IS REVOLUTIONIZING THE WORKPLACE PRODUCTIVITY ith GigSasa, an employer can track their employees' attendance, through clock-in and clock-out using facial recognition features, geo-fencing, and geo-location features. BY INVERSK TEAM

| HOW TO PLAN FOR A HOLIDAY FOR FIRSTTIMERS While knowing where to visit is important, equally important is deciding when to travel. The time will always matter and that gives you a reason as to why you should be flexible - always. BY MITA MANDAWKER

| THE FUTURE OF TALENT ACQUISITION IS HERE: TOP TRENDS FOR 2021 Trends like the digitization of hiring, a continuation of remote-friendly work environments, and a deepening commitment to diversity and inclusion will shape talent acquisition in 2021, fueled by the developments over the past year. Are you ready? BY MITA MANDAWKER

| HOW MAISHA IS STEPPING UP TO SHAPE MOTHERS' MENTAL HEALTH IN KENYA BY INVERSK TEAM

FEATURES 28

| ANNE MWAI Being named as a 2020 winner shows that her firm, Transolution Services Africa, is one of the best in business training and coaching services across Africa and Middle East. BY MOMBO SACCO TEAM

| BUILDING AND MAINTAINING A RESILIENT BRAND If you promise to provide the best customer service, then it must be the best, period. If you stick to your promises, then you’ll gain trust, and customers will forgive you when something goes wrong. BY MONICAH CHEGE

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INVERSK MAGAZINE

CONTENTS - MARCH 2021

| VOLUME 2 NUMBER 1

OPINION 22

| STAKEHOLDERS SHOULD HARNESS YOUTH POTENTIAL NOW It is the youth that if properly nurtured will harness the available opportunities and propel their families, societies, and countries to the next level. BY GEORGE WACHIURI

| WHAT’S YOUR EXIT STRATEGY? Where you are on the business lifecycle will determine which of these key areas you will need to place the most emphasis on. With that in mind here are three key areas to ensure success. BY DERECK BBANGA

| RISING SOCIAL INSTABILITY AND A HUMAN SOLUTION TO COMPLEX SOCIAL PROBLEMS Having access to timely information, having tools to monitor risks over time and the ability to model future scenarios overtime should be part of every company’s enterprise riskmanagement tool kit. BY MICHAEL J. PADILLA

| BEFORE YOU START A BUSINESS Do not start a business because someone else is doing it successfully. They may have a unique ability in them that is not in you so find out what yours is. BY WACEKE NDUATI

| PREVENT ONE CRISIS FROM PRODUCING ANOTHER AND THE RISE OF GROUPS EXPLOITING THE COVID-19 PANDEMIC Feelings of hatred and grievances have become more pronounced as individuals seek to find spaces of more certainty and comfort in the face of the pandemics. In this sort of environment, extremism can thrive. BY MICHAEL J. PADILLA

| FIGHTING THE PANDEMIC, RACISM We need to collectively buy into this as a purpose - in whatever sector we apply our trade, it is our collective responsibility to seek ways to pursue equality. BY JORDAN STEPHANOU

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INVERSK MAGAZINE

CRISIS MANAGEMENT

May 2020 I INVERSK MAGAZINE I 05

INVERSK MAGAZINE

CONTENTS - MARCH 2021

| VOLUME 2 NUMBER 1

Pg. 26 CONTENTS - MAR 2021

WHY MORE LEADERS NEED TO ADMIT THAT THEY’RE CLUELESS! By JORAM MWINAMO

Now you can enjoy reading Inversk Magazine at:

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INVERSK MAGAZINE

FIRST WORD

The Planning Fallacy; What it is and How to Counter it

Kimani N. Patrick CEO & Publisher kp@carlstic.com +254710254524

ost often, we find ourselves racing to finish something at the last minute - it could be a project or getting to a meeting right on time. Often times it is over-budgeting or under-budgeting for something. If you are a victim like I am, it has little to do with you but more about the planning fallacy. First proposed by Daniel Kahneman and Amos Tversky in 1979, the planning fallacy is when we make predictions about how much is needed to complete a future task display an optimism bias, and underestimate the time needed. This phenomenon sometimes occurs regardless of our knowledge that past projects of a similar nature have taken longer to complete than generally planned. As humans, it is a tendency we all have to overestimate our abilities and underestimate the time it will take us to complete something whilst knowing full well that similar tasks have taken longer in the past. When it comes to time management, most of us are caught in the trap of our own planning fallacy which is what psychologists call our tendency to underestimate how long it will take to realistically complete a task – thereby making us give false promises and end up defaulting on our word. Other times it is underestimating a client’s project costs leading to losses or under-delivery. Most often, we fall prey to the planning fallacy by fixing a deadline without any analysis, which makes our predictions unrealistically close to the best-case scenario. We assume that we and every other person involved in a project will perform at their optimal capacity - failing to take into account the possibility of unexpected problems and roadblocks. Another reason we do this is being

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overconfident and optimistic about our skills. This one makes us think we might have the necessary talent, skills, and abilities, thereby making an illusion that some work will take a lesser time to complete than it is actually required. While these two may not be the only reasons we fall victim to the planning fallacy, they are the main ones. Others include discomfort and fear of taking too long to complete a project which means incurring more expenses, a delayed launch, and a waiting period for revenue and miscalculating travel times to your destination thinking you will beat your app’s estimate to thinking you can leave a presentation to the last minute. These misjudgements convince us about finishing something in the shortest possible time to make us feel better. To counter the planning fallacy, good time management is required. Once an objective estimate of the time it will take to complete a project is set, the next thing is to block time in our calendar, and make sure the resources needed are available. To do this, we need to break down big tasks into smaller, manageable chunks and ensure what needs to be done is done when it needs to be done by whoever is responsible. Another important thing in countering the planning fallacy is defining priorities. It is easy to get excited about a new project and to add a thousand tasks to your to-do list. Projects that get finished on time need to be self-contained. Y ou won’t be able to evaluate how much work and how long the project will take if you have an ever-expanding list of tasks. Use the Eisenhower matrix or prioritization to differentiate between tasks that are urgent and important, important but not urgent, urgent but not important, neither urgent nor important.

INVERSK CONTACTS Ads/Marketing Opportunities: Dennis Maingi dennis@inversk.co.ke | + 254 724 332 042

Editorial Features: Debbie Gitau content@inversk.co.ke | +254 743 306504

For subscriptions contact subs@inversk.co.ke

www.inversk.co.ke

Inversk Magazine is a publication of The Carlstic Group. Views expressed in this publication do not in any way express the views of the publisher. 08 I Inversk Magazine I March-April 2021

theTopline business headlines you need to know

The Ministry of Agriculture Announces Compensation for 14,000 Farmers over Failed Season

The Ministry of Agriculture in February announced that 14,000 farmers of lower and upper Eastern counties will be compensated for their destroyed crops. The destroyed crops include both maize and green grams and this is following the short rains. “About 14,00 farmers will be compensated due to poor performance of crops in these regions occasioned by short rains,” a report from the Ministry stated.

The maize and the green grams were at a critical stage hence the rains destroyed the crops leading to huge losses. “This is especially during the grain filling stage where crops need enough water,” added the report. Desert locusts also took part in the crop destruction destroying 1000 hectares of millet, maize, green grams, and cowpeas, 350 hectares of maize, and millet in Tharaka Nithi.

Spotify Launches in East Africa

Spotify, the Swedish audio streaming service has launched in Kenya, Uganda, and Tanzania. Music lovers from these countries will now enjoy free music and free podcast streaming, as well as ad- free streaming on a premium subscription service. The service also allows for algorithmic recommendations to cater to the listener’s preferences. “African creators have always pushed boundaries, innovating and creating incredible sounds, and starting from today we are giving them access and the opportunity to connect with a global audience of fans,” said the Spotify head of music for sub- Saharan Africa Phiona Okumu. According to Reuter’s report, the company is targeting to reach a billion listeners by the end of the year, hence the launching of 85 new markets to achieve the target. The company stated that it will include music such as Afropop, African heat, Grooves, Phenomenal woman and Ama piano for its African users. It added that it will also include local hits, Bongo Flava tunes, and more..

Kenya Diaspora Remittances Rose by 11% in 2020

Kenya-Rwanda enters into a Deal to Boost Tourism within the Region

Kenyans in the diaspora sent home over sh340 billion shillings in 2020, a report by the Central Bank of Kenya (CBK) has shown.

The Kenya Association of Travel Agents (KATA) in conjunction with Rwanda Development Board (RDB) and Rwanda Chamber of Tourism (RCOT) have signed a deal to magnify tourism in East Africa. The three have collaborated to aid in the development of leisure travel and business to promote competitiveness.

The remittances rose from Ksh280 billion in 2019 despite the Covid-19 pandemic, an increase of 10.7 percent. In December 2020 alone, remittances reached a historic peak of Ksh 32 billion. “This remarkable growth of remittances has been supported by financial innovations that provided Kenyans in the diaspora more convenient channels for their transactions.” Said CBK Governor Patrick Njoroge. The vital information includes the efficiency and cost of alternative remittance channels; the difficulties encountered in remitting cash or non- cash transfers; the availability of information to Kenyans in the diaspora about investment opportunities in Kenya; and the usage of remittances received. 10 I Inversk Magazine I March-April 2021

The collaboration will inspire KATA and Rwanda’s marketing and promotional programs to hold joint marketing activities that will draw foreigners to Kenya’s and Rwanda’s attractions. The parties agreed to join hands by engaging in activities of common interest in order to exchange best practices, prowess and knowledge. The parties also concurred to share countries calendar of events so that stakeholders attend and be engaged in African continental Free Trade Area spirit. “RwandAir (WB) will be the title Sponsor for the Air tickets during the familiarization trips to Rwanda facilitating the much- needed product, knowledge and experience,” said Robert Okumu, RwandAir’s Country Manager for Kenya in support for the partnership.

INVERSK MAGAZINE

theTopline Miraa Farmers Win Back Their Way to Somali Market

Kenyan miraa farmers are now hopeful of business resumption as Somalia’s Federal government on Monday evening officially discontinued the ban on khat importation from Kenya. The Somali Federal government has however informed the traders they must acquire import licenses in order to bring Khat to the country. Dr. Abdirahman, the finance minister made this announcement on Monday evening, at a press conference in Mogadishu. “Traders must import khat into the country by legal means, I hereby declare that nobody is barred from importing khat and it can be brought through any entry point if proper regulations are followed,” said Dr Beileh. The limitations were linked to the dispute between Somalia and Kenya’s then Meru governor Peter Munya, who is currently Cabinet Secretary Agriculture. He drew attention by visiting the breakaway Somaliland by offering to make it recognized as an independent state if it allowed Khat importation from Kenya to its markets. Somalia accused Mr. Munya of “attempting to break up our country.”

Kenya is World’s Third Poorest Lower MiddleIncome Country, World Bank

Kenyan Shilling Appreciates Marginally but still Struggles

The Kenyan shilling has appreciated marginally against the US dollar by 0.1% to 109.8 shillings from 110.1 shillings. The small appreciation was buoyed by higher dollar inflows from offshore investors into the local debt market due to the improved investor sentiment for socalled frontier assets. However, the Kenyan shilling is still struggling against the US Dollar despite efforts being put in place to restore is depreciating glory. In 2020, the COVID-19 pandemic made people prefer to hold dollars and other currencies affecting the performance of the shilling. Cytonn Investment predicted the Kenyan shilling to oscillate between 107 and 110 this year. “We expect continued pressure on the Kenyan shilling,” said analysts from Cytonn in the latest report. On a Y ear to Date (Y TD) basis, the shilling has depreciated by 0.6% against the dollar. Pressure on the shillings will come from the demand from merchandise traders, as they beef up their hard currency positions following the reopening of businesses

Safaricom Gets Shortlisted for Ethiopian TelcoLicense bid

Kenya was in January ranked the third poorest lower- middle-income country globally in a new study released by the World Bank. The World Bank State of Economic Inclusion Report 2021 has shown that more than 40% of Kenyans are currently living in extreme poverty.

Safaricom gets shortlisted to bid for one of the two Ethiopian telecoms licenses that will be offered this year.The Ethiopian Communications Authority has cut the list down from 12 companies that had expressed interest in acquiring the licenses.

The level of poverty is approximately ten times higher than in Pakistan and Egypt, which are also categorized as lower- middle-income countries. Zambia is the poorest with 61% of its citizens living in poverty followed by Nigeria at 58% with Cote D’Ivoire is fourth at 30%.

Safaricom has signed an agreement to borrow up to Sh55.7 billion from US International Development Finance Corporation (DFC) to fund the Ethiopia expansion. Firms will be required to submit their technical and financial bids by April 5, compared with a previous deadline of March 5. “There are about five to six consortia who are qualified to bid. Bids are due to be submitted in April,” said Safaricom Chairman Michael Joseph in an interview.

In November 2020, World Bank gave a Kenya economic update which noted that the pandemic pushed an extra 2 million Kenyans into poverty. The poverty levels are reported to have increased by 4%. The economic and social disruptions of the COVID- 19 pandemic eroded Kenya’s progress in poverty reduction. Moreover, the update also noted that the pandemic created a new group of ‘newly’ poor Kenyans with different demographic characteristics.

The Horn of Africa nation’s telecoms industry is considered the big prize due to large market size, which serves more than 100 million people. Ethiopia is pressing ahead with the auction of new licenses and the sale of a 45% stake in state monopoly Ethio Telecoms, despite a military conflict in the northern Tigray region. March - April 2021 I Inversk Magazine I 11

INVERSK MAGAZINE

ADVERTISER’S FEATURE

How Kenya’s GigSasa is Revolutionizing the Workplace Productivity With GigSasa, an employer can track their employees' attendance, through clock-in and clock-out using facial recognition features, geo-fencing, and geo-location features

Why You need Monitoring Software. 1. Activity tracking Every employer needs to monitor employee activity to identify individuals, departments, as well as teams under them to measure the individual level of productivity, time spent on projects, and app usage. 2. User Behavior Analytics Employers must track and analyze the behaviors of each employee to easily notice anomalies and uncover potential insider threats, targeted attacks, or fraud in real-time. 3. Data Loss Prevention The current world of data evolves exponentially with more people trying to infiltrate systems to acquire data for malicious purposes. Therefore, employers need to be vigilant to prevent malicious or negligent data exfiltration by employees or outside parties with insider help.

BY INVERSK TEAM

ince the Covid-19 Pandemic struck e arly last year, organisations across the world have had to revolutionize the workplace by making it more virtual – with some changes likely to remain long after the pandemic is contained. At the peak of the crisis, the International Labour Organization (ILO) reported that 68% of the world’s workforce, including 81% of employers in countries that recommended total or partial closure were affected. The world’s response to the pandemic resulted in the most rapid and disruptive transformation of the workplace. Working from home has become the new normal, and businesses have gone from digitizing the relationship between firm and customer to digitizing the relationship between employer and employee. However, these changes also carry new challenges to the employer, 12 I Inversk Magazine I March-April 2021

especially when it comes to monitoring the employees. In comes GigSasa, a new cuttingedge technology that providing services to help employers monitor and increase the productivity rates of their employees. Founded by Muhammad Omar, GigSasa is a human resource management software company focused on staffing and managing the core workforce in different sectors of the economy The firms services are open to organizations that ascribe from different schools of thought. With GigSasa, an employer can track their employees' attendance, through clock-in and clockout using facial recognition features, geo-fencing, and geo-location features. They can also measure their productivity seamlessly through goal-based settings when clocking-in and achievement reviews upon clocking out. This provides you with activity tracking insights.

4. Compliance & Audit E nsuring compliance with internal security policies and regulatory regulations is key to preventing data loss, legal issues, or insider threats. The employer requires software to assist in identifying and alerting employees to non-compliant actions with real-time alerts. 5. Insider Threat Prevention Insider threat comes when employees share, distribute, sell or expose data fraudulently. To prevent that, employers need to automate risk detection and block unwanted employee behavior to always keep the organization safe.

The Gigsasa Solution

The software has a range of performance tracking tools for your employees to mark attendance (GPS tracking, facial recognition, Geo-fencing), configure any leave and manage requests easily. Further, GigSasa aids in marketing by collecting performance goals during clock in, tracking real-time performance insights on activity dashboards and finally

INVERSK MAGAZINE

ADVERTISER’S FEATURE

recording the marketing performance during clock out. GigSasa also offers analytic solutions that come as well as integration with HR Management solution payroll and a multitude of other software to ease accessibility and improve efficiency.

Gigsasa Features

redundancy. In the long run, it helps the business apps communicate with each other, and work processes can be done efficiently and effectively. GigSasa will allow this not only on personal computers but also on mobile phones. They can link your work tools from CRM accounting and project management

tools. GigSasa is easily accessible to all business sites by just visiting www.gigsasa.com. The firm allows you to have a demo of the software before purchase and the app can be downloaded on your smartphone or a desktop.

1. Facial Recognition This is a technology capable of matching a human face from a digital image or a video frame against a database of faces, typically employed to authenticate users through ID verification services, works by pinpointing and measuring facial features from a given image. More businesses are adopting facial recognition as a form of surveillance, for instance, UK-based Lloyds Bank allow their customers to log in to their accounts via mobile banking using facial recognition. GigSasa as well is providing this technology to enable employers to see the availability of the employees before they clock in. 2. Geo-Fencing Geo-fencing is a location-based service in an app or software that uses GPS, Wi-Fi, RFID, or cellular data to trigger a pre-programmed action when it enters or exists a virtual boundary set-up around an actual geographical location. GigSasa will enable to help track employees in a particular geographical location and with the help of facial recognition confirm that they are in a particular vicinity. 3. Performance Tracking The success rate of any organization is based on the performance of every employee at the organization. In fact, according to research done by Salary.com, 89% of employees waste at least some time at work every day. 31% of them waste 30 minutes while 10% waste at least three or more hours a day. GigSasa enables the employer to track performance when employees write down performance goals during clock in, collect performance achievement during clock out and see real-time performance insights on activity dashboards. 4. App Integration App integration helps manage, maintain and keep all your apps up to date while alleviating data duplication and March - April 2021 I Inversk Magazine I 13

INVERSK MAGAZINE

ADVERTISER’S FEATURE

How to Plan for a Holiday for First-timers While knowing where to visit is important, equally important is deciding when to travel. The time will always matter and that gives you a reason as to why you should be flexible - always.

Nothing bothers first-time travelers other than the actual planning. But it does not have to be. As a tour agency, the major part of our duty is to help clients, and travelers plan for their get -a-ways, holidays and trips in a hustle-free way. We understand, it is easy to get overwhelmed, especially when you haven’t done something like this before and especially considering just how much information there is out there these days. Blogs, social media, and guidebooks have never been more plentiful. However, it is hard to know who to trust. There’s a fire hose of information out there that can sometimes make the task of planning a trip even more challenging and overwhelming. Below are a few tips to follow especially when you are planning for a trip or vacation for the first time. 1. Decide where you want to go. Defining where you want to go sets a goal to work toward. Many people talk vaguely about travel. They never say where they are going, just that they are going. Picking a destination is immensely important, as it gives you a definite goal. Knowing where you want to go is important for two big reasons: a). It helps you psychologically. The mental benefits of setting a good goal are enormous. Having a goal destination in mind gives you something to work for when you’re preparing for your trip. b). It determines practically every aspect of planning. No two vacation destinations are alike, which means each destination is going to change the way you tailor your budget and itinerary.

2. Pick a time and when you want to travel. While knowing where to visit is important, equally important is deciding when to travel. The time will always matter and that gives you a reason as to why you should be flexible - always. If you want to find the best time to travel to a destina 14 I Inversk Magazine I March-April 2021

BY EURY SAFARIS tion, consider these three things about the location: • Peak season. This is the time of the year when most tourists will visit a location. And it is often due to good weather and holidays surrounding it. Flights and accommodations tend to be the most expensive during this time. • Off-peak season. This is when the majority of tourists aren’t visiting a destination typically due to weather. Y ou will normally find very affordable flights and accommodations during this time, but on the flip side, there is usually a reason for it being “off-peak.” • Shoulder season. This is the time between peak and off-peak and a good time to take advantage of the benefits from both seasons. 3. Decide the length of your trip How long will you be away from your trip? It’s a dire question you need to answer so you can start planning! To figure out how much you need to save you will need to know how long your trip will be. The length of your trip is a huge factor in determining how much money you need. Spend some time mulling that over until you have your answer.

you and the person you travel with.

5. Research the cost of your trip Y our next task is to research the costs of your destination in the style of travel you want. Some destinations are particularly expensive. This means that you would 4. Decide if you want to travel need a much higher budget to visit and it alone or with someone. may take longer to save for your trip. One of the biggest decisions you will need Knowing the cost of the travelling agent to make is whether you are going to go you want to use will allow you to estimate alone or travel with someone. Both are how much money you will need for your great options but they are decidedly trip. different choices too. Travelling solo will give you the 6. Always check for safety freedom to go anywhere you want. No Before travelling to a destination, you compromising. Y ou just go wherever the should always look at official sources of wind takes you! However, it means you information as to whether the location is have to do all the planning yourself which safe to visit. Such as that the destination can seem daunting if you’re new to trip isn’t going through civil unrest, war, planning. there’s no viral medical issues or anything Travelling with someone means else that could be a big safety problem. you have someone to help plan the trip with you. It will make researching your Once these steps are followed will itinerary faster and you’ll have someone to reduce the hustle if you are planning for a spend time with on the road. However, it holiday or getaway the first time. We’re also means you’ll need to compromise also here to help. Get in touch with us sometimes. Perhaps on meals or activities and lets together plan for your trip/ or accommodation. It will just depend on holiday/getaway.

Spotlight Building Teams: The Future of Talent Acquisition is Here: Top Trends for 2021 Trends like the digitization of hiring, a continuation of remote-friendly work environments, and a deepening commitment to diversity and inclusion will shape talent acquisition in 2021, fuelled by the developments over the past year. Are you ready? BY MITA MANDAWKER

C COVID-19 marked a radical change in the way we lived, worked, and hired talent for companies. The pandemic accelerated digital transformation, ushering in what some are calling a ‘Fourth Industrial revolution.’ Globally, businesses hustled to quickly make their operations, people, and process virtual and digital-friendly. After the initial slowdown, companies have now embraced the ‘new normal’ and on their way to scaling businesses again. However, they need the right workforce and talent to do that. As more roles become remote-friendly and following the shakeup we saw in 2020, the talent market has never been more competitive. As the demand for talent picks up, it is essential to understand what trends will shape talent acquisition in 2021 so you can be ready to bring the best talent onto your team. We anticipate that trends like the digitization of hiring, a continuation of remotefriendly work environments, and a deepening commitment to diversity and inclusion will shape talent acquisition in 2021, fueled by the developments over the past year. Are you ready? 16 I Inversk Magazine I March-April 2021

AI will pave the way for data-driven talent decisions

this technology built into their HR platforms already, it will be important to identify and work with a capable, trusted technology Hiring the right people in a timely and partner. cost-effective manner is a challenge for every business. Companies will focus on a Diversity and inclusion will go beyond data-driven approach to hiring talent this year mere points on the checklist leveraging AI (artificial intelligence). AI is proven to be better at seeing patterns than 2020 was a pivotal year for diversity, especially people. This will be a game-changer as it will with conversations around the Black Lives help companies make smarter hiring decisions Matter movement. A lot of organizations and eliminate unconscious bias, which defined and put down policies on diversity permeates the hiring processes. and inclusion for the first time. They set Companies will start integrating diversity targets, to reflect their stance on AI-powered chatbots for the initial phases of diversity and inclusion, especially in their applicant screening to better identify the top talent decisions. candidates before taking them to the next For many companies, 2021 will be a stages in the hiring cycle (scheduling multiple year for accountability. Companies will move rounds of interviews, etc.) beyond checking off items on their diversity The use of AI will also permeate the and inclusion checklist, to showing the outother phases of the employee lifecycle like comes of their efforts. Inclusion will become automation of employee verification, onboard- more than a word: for companies to retain ing, etc. Since most companies do not have amazing, diverse talent, it will be essential for

INVERSK MAGAZINE

BUILDING TEAMS

those employees to feel heard and included at their workplace. It’s important to remember that when it comes to building diverse and inclusive teams, there’s no “perfect” playbook. We expect to see many companies move beyond basic lip service to deepening their commitments to their diversity and inclusion initiatives. Agile, cross-functional teams will rise, built, and dismantled on a project basis. COVID-19 forced companies to evaluate and change the way we work – from siloed department-based working to more agile, cross-functional, project-based teams. Companies will continue to re-work their organizational structure to foster agility and collaboration. Agility and collaboration have proven crucial for ensuring business continuity and success, a lesson hard-learned from the pandemic. A lot of companies have already started moving from permanent hires to staffing their teams with part-time resources, who work on predetermined projects for a set time-frame before moving on. We will continue to see a spike in the number of freelancers in the coming year. This approach to leveraging talent will also change the way companies assess and hire talent. Candidates with potential and transferable skills, like adaptability and problem-solving will be prioritized over their pedigree and technical capacity to do specific tasks.

technology space, could not have explained the Candidate experience was always important, especially with a distinct shift towards remote working and hiring. It will become important for companies to provide an exceptional experience given that candidates will not be experiencing their offices and culture in person. Every HR and hiring activity from attracting talent, to showcasing employer brand, to sourcing talent, to interviewing, will need to be built to provide a great digital experience for candidates to attract top talent. The top employers will have a candidate communication plan, which will make all relevant information available to candidates about the company.

Employers have to show — not tell — what their company is all about. Every small step matters – from sending email/text reminders to candidates a day before the interview to sharing employee pictures, videos, and office pictures, so candidates can virtually experience or visit the workplace. This will help candidates get a taste of company culture and team without physically visiting offices.

Mita is a Marketing Manager at Shortlist based in Mumbai, Maharashtra, India

Remote hiring is here to stay

Over the last year, recruiters and HR managers learned that it is possible to do end-to-end hiring and onboarding remotely. Especially with the cost and time savings possible when hiring goes virtual, remote hiring will pick up this year. We expect the hiring process will be a combination of in-person and remote processes, depending on the positions being hired for. For instance, for entry-level positions, the complete hiring process may be remote, with the new hires making their first physical contact with the company on their day of joining (maybe not, in the case of remote workers). For the senior, executive-level hires, the hiring process may constitute a mix of remote and in-person processes. But, for companies to leverage remote hiring, they need to define, refine and keep improving their virtual hiring processes, finding the right technology that works for them, and making sure there is enough human contact present in the remote hiring procedures. Digital candidate experience will be prioritized “Online video interviewing, digital assessment, and digital candidate experience strategies were ‘nice to have’ before the crisis. Now they’re business-critical.” Josh Bersin, a world-renowned thought leader in HR, Leadership, and HR March - April 2021 I Inversk Magazine I 17

INVERSK MAGAZINE

MENTAL HEALTH

How MAISHA is Stepping up to Shape Mothers' Mental Health in Kenya

BY INVERSK TEAM

his year's international women's day finds me in Kenya. I accepted the challenge of Ruth Mwuara, the CEO of Thalia Psychotherapy, to discover the challenges African mothers are facing. This has led me into a courtroom near Africa's largest slum, Kibera. On the 4th of January, Khadija was arrested for not feeding her 6-month infant. Khadija, a mother of 4, is in court accused of trying to murder her child as revenge on the father who was reportedly marrying a second wife. From the photos, had Pamela, the eldest child not sought help, things might have turned out differently. Adhiambo, Khadija's lawyer, works for a nonprofit organization that seeks to represent suspects with known mental health problems in court. Adhiambo looks tired as we are having lunch after Khadija's case. This was the sixth case since morning, and she is already tired, three more to go. "Our legal system needs to change" she quips "how do you punish a sick person for being sick. I have seen too often the trouble that people with mental conditions are going through. They need to be in a hospital, not prison. Postpartum depression occurs after giving birth, and it involves a persistent low mood. It is different from the "baby blues" that many new parents experience. Having postpartum depression does not mean that a person does not love their baby. It is a mental health

18 I Inversk Magazine I March-April 2021

condition, and treatment can resolve it. Anyone with symptoms should see a doctor immediately. Postpartum depression affects 1 in 9 new mothers, the Office on Women's Health report. Symptoms may arise within 1 month or 1 year of delivery. They include a persistently low mood that lasts for at least 2 weeks. A study conducted by The World Health Organization (WHO) in 2019 showed that depression during or after childbirth affects approximately 13% of women during the postnatal period and 10% of women during pregnancy. Mothers with maternal depression feel multiple symptoms such as a sense of hopelessness, withdrawn behaviours, severe mood swings, lack of concentration, and unexplainable pains and fatigue. Maternal depression has potential risks and fatal implications for the mother, child, and the entire family. The attachment between a mother and child is critical for the child's physical and cognitive development in both present and later life. This suggests that maternal depression can have multigenerational adverse effects. A study conducted by BMC Women Health shows that maternal depression is a leading cause of disease burden for women worldwide; however, there are ethnic inequalities in access to psychological interventions in high-income countries (HICs). Culturally appropriate interventions might prove beneficial for African and Caribbean women living in HICs as ethnic minorities.

African mothers in particular are more likely to suffer from postpartum depression than any other demographic due to their high birth rate. This means more women like Khadija are to be found in villages across Africa. Worse, the African health system and cultural practices seem to be ignoring mental health, leading to over 40 million mothers dying every year. According to a recent study conducted in Nairobi slums, the prevalence rate for postpartum depression of 18 percent is likely compounded by gender-based violence which hovers around 47 percent for women in Kenya. These are things you are not likely to hear in the news or reported to the authorities, which makes finding reliable data is difficult. WHO steps in, but only provides estimates. Though great progress is being made on this front, Kenya still has a long way to go. Clearly, the time has come to pay attention to mental health. The scope of research must be expanded beyond the individual, and take a multidimensional approach to understand what's behind women's poor mental health. And it must consider women's roles as mothers and partners as part of the equation. Otherwise, people like Khadija will fall through the cracks. This is what makes programs such as MAISHA a noble quest, as it seeks to also provide reliable health data to help policy make informed decisions. While relatively new, MAISHA seems to be making some of the right moves having attracted over 20,000 clients and growing. The program is a blend of both virtual and physical support. Through partnerships, they are already in over 450 hospitals and clinics. Ruth says they are targeting to be in 5,000 hospitals by the end of the year and have over a million clients. Moreover, they seek to have participated in more than half of all the diagnostic decisions being made in Kenya. Ruth's only regret is not starting MAISHA early enough to ensure mothers such as Khadija got the help they deserved. I remind in Kenya for the next 3 weeks to try and understand this silent killer of African mothers and what more needs to be done. To celebrate this year's International Women's Day on 8th March, Maisha will be offering free postpartum depression screening and treatment.

September 2020 I Inversk Magazine I 19

INVERSK MAGAZINE

COVER STORY

How Lizzie Wanyoike Built Kenya’s Top Technical College. NIBS started with 25 students who had come from a closed college and two hired teachers who taught in Pioneer House, Moi Avenue. BY DEBBIE MUMBI

nt r e p r e n e u r L i z z i e Wanyoike is proof that keeping a relentless eye on your goals, perseverance, joyful dedication and unwavering focus will get you there. She is the CEO and founder of Nairobi Institute of Business Studies (NIBS College) and Emory Hotel, a proud mother of three and a grandmother of nine. The EY entrepreneur woman finalist recipient of 2018, Lizzie Wanyoike came from a small village in Muranga County. She was the sixth born in a family of eight children. Her father, was a government official however, he was detained 7 years after being associated with the MAUMAU rebellion. “Y ou see, my father was a colonial chief and his patriotism for a free Kenya saw him double deal through providing intelligence to Mau Mau freedom fighters. He was busted and eventually detained for nine long years, leaving us under the care of my mother,” she says. Her mother then struggled to put her and her siblings to school during this time. Her passion for teaching came after her pursuit for a better life and through education. She is an alumnus of Gathukiini primary, Kahuhia Girls, and Nakuru High School. She fulfilled her dream after finishing her studies at Kenyatta University College, now Kenyatta University, and began her career by teaching English in State House Girls High school. She attributes her success to the difficulties she faced, her parent's hard work, and her grounding in the Christian faith. Her spirit of entrepreneurship began when she was geared to lay a foundation for her children. She started 20 I Inversk Magazine I March-April 2021

purchasing several plots and started building small rental houses. However, hell broke loose and she lost her job and her partnership in Temple College where she held a managerial position. At this point, she was going also through a separation. She was desperate and needed to get back on her feet. “In my despair to have a fresh start, I visited James Mwangi of Equity Bank who offered to give me a loan which I later added my savings to start

afresh,” said Lizzie. It was from this fresh start that NIBS college was birthed. Lizzie knew the chances of her success were to use her professionalism and experience. She, therefore, started a school with a capital of 10 million. The school struggled for 8 months however, having a father as a mentor she was determined to face all the obstacles. Her goal for NIBS was to help young people dream through education since some were left in despair. In

INVERSK MAGAZINE

COVER STORY

addition, the experience she went through as a woman she sought to empower the girlchild however, she later realized that the boy child can also face that predicament. “Students from private colleges drop out of school because they are side-lined by HELB, unlike their counterparts in Public universities and colleges and private universities,” she says. NIBS started with 25 students who had come from a closed college and two hired teachers who taught in Pioneer House, Moi Avenue. In order to get more students, Lizzie used her face for advertising and credibility. It was then that fortune came knocking, at the end of the second-year students grew from 20 to 200 students. The main reason there was an increase was, ‘many parents knew about my work from my former college and we did everything to make students comfortable including providing facilities.’ The school then moved to Cooperative house where their lease got unfairly terminated and switched to Agriculture house as more students registered. The challenge of being forced to move out made her to look for a solution to avoid such treatment. In 2009, she made a decision and bought a 10-acre land worth Sh. 20 million in Kimbo, Ruiru along the Thika Road Superhighway. At the time, the place was deserted and it didn’t look promising however she did not give up. “Fortunately, I had bought some initial shares from equity bank and the first time floating in history, my returns were many times more than I had invested. I, therefore, managed to build phase one of NIBS college,” she added. Currently, NIBS college boasts of over 7,000 learners and has campuses in Ongata Rongai, Thika Rd, CBD, and Thika Town. She invested 134 million to build the main campus in Ruiru. The success of the institution is a testament to her managerial skills which have seasoned with time. Lizzie has embraced a visionary style of management, and through inculcating disciplined culture and incorporating her three children to be senior managers she intends to leave a legacy. “Am a hands-on person. I lead from the front. However, I have engaged very serious and able managers who understand my vision of education with character, empowering youths through training and also leading by example.” Harboring the heart of an entrepreneur, Lizzie took the initiative to start Emory Hotel in Kandara Rd, Kileleshwa. She says she started the four-star hotel since many of her students

had joined the hospitality industry and was also a form of persuasion to bring her daughter, Stella Njoroge, a structural engineer to come back home from the U.S. Students from NIBS get to have their attachment in the hotel and at times receive employment. Lizzie Wanyoike admits that being a woman entrepreneur has its challenges especially when she began registration for NIBS college. However, she says that the challenges eventually took off. “A woman has so many disadvantages especially when you are honest and you don’t want to compromise your values,” she adds. Lizzie Wanyoike Preparatory school is a new project for the CEO which she intends to mentor young parents in parenting. Mentoring and empowering youths have always been Lizzie’s heart’s desire. Lizzie Wanyoike Foundation is a program that has raised a lot of funds to support needy children. However, she says her philanthropic work is not limited to supporting needy children but youths who are engaged in youths. “I started doing these years ago back in 2006 when I first met a lady at Co

-operative Nairobi, who needed my help and since then I have never stopped, I seriously don’t know why I do it I just find myself giving,” she says. The philanthropist has been doing motivational speaking without pay. She believes that it’s a gift from God and it’s a passion that requires no price tag attached to it. In 2016, Lizzie authored ‘Empowering Y ouths through training’ and launched it in NIBS college. The book speaks to the roles of parents in their children’s life. Lizzie Wanyoike is no doubt a giant when it comes to the education sector. In her closet are numerous awards some include the 2018 DIAR Awards Entrepreneur of excellence, 2019 Business of the year, and Trailblazer in TopWomen in business awards. Despite her numerous accolades, what keeps Lizzie moving forward is changing people’s lives for the better. “Just as morning comes after a dark night, so your future is brighter than your past! Continue pushing on,” she remarks. Debbie is a Associate Editor and for Inversk Magazine

January-February 2021 I Inversk Magazine I 21

INVERSK MAGAZINE

MENTORSHIP

Stakeholders Should Harness Youth Potential Now

It is the youth that if properly nurtured will harness the available opportunities and propel their families, societies, and countries to the next level.

BY GEORGE WACHIURI

n the presence of youth, the older generation is either jittery or confident – depending on how their world view of youth is shaped. It is not weird to hear the older generation lamenting about what has become of the youth in the current generation? Suffice to say that some have even failed to understand how to refer to this group of people and decided to christen them as Generation Z. Whether it is a matter of failure to identify with the youth or an issue of comparisons with one’s experience in later years, this is a debate for another day. However, the youth in any economy hold an important key that could open up the social and economic pillars of the society towards enhanced development. It is this group that if properly nurtured will harness the available opportunities and propel their families, societies , and countries to the next level. While previously it is the

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older generation that bore the visions of communities, much has changed in the current millennium and millennials have become a force to reckon with, despite their uncertainty in matters that otherwise norm for older generations. The challenge then lies in understanding this group of key individuals and tapping into their energies by utilizing them positively to transform society. Y ouths have continued to embrace the wisdom of mentors and gone on to make something tangible of their lives, while others have found themselves in the hands of the vice masters. The outcome has seen the rise of youth gangs, engagement with militant groups, and other vices that continue to reign terror in society. Y et the youth are in dire need of a clear mentorship to ensure that they understand the outcomes of their actions through bearing individual responsibility. More and more youth are finding themselves on the wrong side of the law for being in the wrong company or engaging in the wrong business.

For some, the status quo has come about owing to their disadvantaged backgrounds, but for a significant percentage of them, it has been the deep desire to be part of the ‘cool gang’ thereby giving in to peer pressure rather than standing out and risk being ostracized. The onus however remains on those whom the youth look up to for advice, direction, and guidance to belabour the need to engage in meaningful activities. Statistics are now indicating that at least 50% of the world’s population is under the age of 25 years with Africa alone expecting to host some one billion young people on the continent by the year 2050. Similarly, some 60% of all urban dwellers will be under the age of 18 by the year 2030, and according to UN-Habitat’s report on residency for the year 2013, most of them will be living in slums and informal settlements. With this consideration, then it becomes necessary for stakeholders – be they government or the private sector – to engage tactfully with the youth and provide avenues to utilize their skills, energies, and innovations for the future. While the change will not come all at once, one change at a time means that impact will be felt on any youth interacting with the one who has been empowered. Optiven Group, for example, has rolled out various programs touching on the empowerment of the youth including the Soaring Eagles, the Optiven Nests targets to make some 1 million entrepreneurs from the latter. We are on course to provide at least 30,000 employment opportunities by the year 2030. We should appreciate that we cannot do this alone and should be grateful for the partners who have joined us in making this a reality, although we need more. To the youth, now is your time, understand the season and seize the moment. George is Leading Kenyan Entrepreneur, Published Author, Philanthropist, Y outh Empowerment Enthusiast, Africa Business Award winner, a Family man and CEO for Optiven Group

September 2020 I Inversk Magazine I 29

INVERSK MAGAZINE

FOCUS - SUCCESSION

What’s your Exit Strategy? Where you are on the business lifecycle will determine which of these key areas you will need to place the most emphasis on. With that in mind here are three key areas to ensure success. BY DEREK BBANGA

W Where are you right now in the process of someday exiting your business? Are you excited or do you dread the thought of exiting your business? Chances are you probably haven’t given it much thought. If so, you are like many owners who have failed to develop an exit plan because they are too busy, or they take the view that they will sort things out when they’re ready. This is a huge mistake and will cost you dearly if you wish to achieve a profitable sale. So, putting together an exit plan that grows and strengthens the value of your business, to achieve a profitable sale, makes good sense whether you intend to exit your business in 1, 5, 10, or 20 years' time. But let’s not think of exit planning as something additional we need to do in our already busy business day – it’s not. Put simply, an exit plan consists of a strategic plan (a roadmap) for growing the value of your business integrated with your personal and financial goals and objectives. When it comes to establishing personal and financial goals think of establishing three principal exit goals by asking yourself these three questions: How much cash do I need when you exit to support the lifestyle you desire? When do I want to leave the business? To whom do I want to sell/transfer my business? In terms of strategy, putting aside the process of building a strategic plan for the business, your successful exit is based on asking yourself the fundamental question: what do I need to do now and in the future to grow the value of the business? In answering this question there is no one-size-fits-all approach but there are key areas that you will have to deal 24 I Inversk Magazine I March-April 2021

INVERSK MAGAZINE

FOCUS - SUCCESSION

with. Where you are on the business lifecycle will determine which of these key areas you will need to place the most emphasis on. With that in mind here are three key areas to ensure success. Start by creating a solid plan that matters to customers and differentiates you from your competition – a roadmap for growing the value of the business. Begin with the end-in-mind. The plan will provide you with clarity and focus, making it clear what you should be doing and in what order. Then you must take action - put in place the right disciplines to run your business: a handful of priorities, measure your results and recalibrate where necessary. Involve your employees at all levels in your planning and hold them accountable for achieving your goals and objectives. Be transparent and establish a rhythm of meetings to keep them informed of the business progress toward these goals. Next, build a business that can grow without you. Don't try to do everything yourself. Having a business that depends on you is practically worthless. Y ou may be good at many things, but not everything! Be willing to change your role, take a more strategic role, and

“ Your business requires an entrepreneurial mind-set that is tolerant of risk, hungry to overcome obstacles, and willing to absorb the stress that comes with owning and running a business.

”

embrace a different way of thinking that accepts having less direct control over results. Hire people who are smarter or better than you in critical areas of the business and learn how to delegate. Pay attention to developing and deploying scalable systems, processes, structure, and a culture that supports dayto-day operations and the achievement of your goals and objectives.

Thirdly, build a fortress balance sheet. Manage cash with even greater fervor than you pay attention to revenue and profit. Founding your business requires an entrepreneurial mindset that is tolerant of risk, hungry to overcome obstacles, and willing to absorb the stress that comes with owning and running a business. As you build you have no doubt often been overwhelmed by a series of growing pains. From feeling there are not enough hours in the day; spending too much time "putting out fires"; feeling that you have to do it yourself if you want to get it done correctly, to balancing your work life with your personal life. These responsibilities can be draining. And though it seems counterintuitive, focusing on accelerating growth in business value by beginning to implement your exit strategy now can help relieve some of these stressors, reignite your passion for business ownership and lead to a profitable sale. As a business owner, whether or not you are thinking about exiting your business, we encourage you to start planning for an exit as early in your business life cycle as possible – preferably during the startup phase, but if not then, begin it now. Business owners who do create business exit plans report less stress and anxiety as their exit approaches, and generally, wish they had begun planning earlier. They are also more likely to obtain a profitable sale for the business and a strong sustainable business for the new owner.

Derek is the Alpha Group Regional Manager. Get in touch with him if you need help, guidance and support with creating an exit strategy for your business and, ideally, increase its worth in the process!

March - April 2021 I Inversk Magazine I 25

INVERSK MAGAZINE

FOCUS - LEADERSHIP

Why More Leaders need to Admit that they’re Clueless!

BY JORAM MWINAMO

t all started when I read the book the Trillion dollar coach about Silicon Valley's Bill Campbell in 2019 and I learned that most of the world's leading entrepreneurs and executives had coached many years after their companies became wildly successful. It hit me that their success had a lot to do with seeking help. I had always thought, albeit wrongly, that their success was a factor of their inherent genius. I realized that part of the genius is seeking help. I have progressively learned since then to proactively seek help for almost any situation that I encounter and think that I lack the right knowledge or perspective to resolve. When I was younger I prided myself in knowing and being known as the guy who knows everything. Nowadays, I don't mind not knowing and I'm ok admitting that I don't know. And I find it very liberating. I embrace failure and mistakes as an entrepreneur because I know they are the tickets to valuable lessons that lead to success. What I try not to do is repeat the same mistakes I made earlier. I proactively seek out experts because I know they have spent time, lots of time, years in fact, gaining experience and perfecting that which I need to learn from them. External expert views help me to get to the bottom of issues and give clarity on what's to be done a lot faster than if I tried to figure it out all by myself. I've also become a ruthless implementer without wasting time or second-guessing myself when it becomes even vaguely clear what direction I need to take. There's more to learn while implementing than when I spend time overthinking and perfecting 26 I Inversk Magazine I March-April 2021

something without executing it on the ground. This means that I implement a lot of half-baked ideas that are still cooking and I improve as I go along. This can unsettle those who are used to having all ducks in a row and expecting perfection. In a world that frowns upon failures and mistakes, it feels like a sin to admit the above publicly. But maybe the world needs to change how it views progress and leadership. Of course, there are roles where mistakes are not tolerated or even encouraged. Mission-critical professions. This is why it takes a long time to be certified in those professions and there are very stringent regulations to protect lives. No one wants a COVID 19 vaccine that is half baked or a pilot to try out new maneuvers that they have never tried before up in the air with passengers on board. But to make progress in many other fields, to develop new products and services, new business models or disruptions, or ideas to grand challenges that have plagued us for years, a totally different mindset is required. All the success I've had to date is based on what I knew and learned from others. The success I will have tomorrow is seated with others, in their minds and their networks. I have a Board, accountability friends and couples, advisors, coaches, leadership trainers amongst others. Diverse perspectives open up new avenues for solutions in a world that is happier with the status quo yet facing bigger and bigger challenges politically, ecologically, technologically, and economically. Maybe what's needed in this complex world is more humility across the board and less chest-thumping.

I see a lot of friends and people struggle because they fear or cannot work with complementary partners or advisers and prefer the comfort of their own ignorance. They would rather suffer than seek help, share their problems, or submit to the genius and experience of others. A culture of bravado, egoism, and heroism has killed and destroyed many people in situations that had simple answers if only one sought out the right experts, advisors, or mentors. Part of the reason why its difficult to seek help is that the very traits that made us entrepreneurs or leaders in the first place, thinking independently, outside the box, and challenging the status quo, are the same traits that become liabilities when we are alone in our businesses or at the top and we can fall prey to thinking that we are brilliant and need no help. Or that admitting weakness and lack of knowledge makes us lose credibility. Admittedly, my own success has been accelerated by my ability to seek help as soon as I sense that I need it or as soon as someone points it out. My reading list this year has been about entrepreneurs from all over the world from China to Nigeria and I'm learning a lot of lessons from their stories. Especially their mistakes. I've come to hate biographies that only seek to focus on glowing tributes or stories of entrepreneurs that play up their genius and not the battle scars garnered in the path to their success. I want to know the war stories and mistakes. That's what adds value to me. No one learns much from the inherent genius of another entrepreneur unless they have unlimited access to them. So in 2021 resolve to stop suffering. Be quick to seek help whether in business, career, marriage, your mental health, parenting, name it. The price you pay for getting help is much less than the damage that the situation causes to the quality of your life when your issues go unaddressed. Happy 2021!

Joram is the CEO of SNDBX www.sndbx.ke an innovative growth engine for Entrepreneurs.

September 2020 I Inversk Magazine I 31

INVERSK MAGAZINE

RISING STAR

Anne Mwai: Merging My Business With My Calling Ann says Bama Diaspora Realty was birthed from her desire to empower women. The idea was developed when she watched her mother doing business . BY INVERSK TEAM

nn Mwai’s journey of entrepreneurship is a testament that it always seems impossible until it's done. Ann Wairimu Mwai is the ow ner of Bama Diaspora Realty Limited, Access Enterprises Limited; a U.S based company, and a marketing manager and broadcaster at Diaspora Media Max (D Max), an online TV and Radio broadcast for the Kenyan Diaspora. She was born in Kanunga, Kiambu County, and grew up in different parts of Kenya since her father was a Civil Servant. It is through this experience that she attests that she can adapt to any new environment. Ann does identify herself as a village girl at heart despite her many life achievements. After she finished her form four examinations in Mary Leakey, she went to work for her uncle who had opened a computer bureau. At the age of 18years, she started working in the bureau printing documents, doing assignments for college students, doing small graphics among others. In fact, when she went to pick her KCSE results, she already had a stable pay check. In 2001, she started her computer bureau in Kiambu town, where she worked from home. Her customers were mainly her friends, and college students from the Kiambu Institute of Science and Technology (K IST). Despite no educational background with the skills she acquired, Ann Mwai says this was made possible due to her thirst for knowledge and was determined to get a better life than what she had. In two years, her business was booming and she was earning Ksh.50,000 a month. However, she got an opportunity to go to the U.S.A. She took the opportunity despite having a well-paying job and made the best out of the situation. Ann recalls that when she arrived it was a childlike beginning by relearning a language, having to know and follow a new system, and familiarizing yourself with new things. She worked day and night, to 28 I Inversk Magazine I September 2020

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RISING STAR

build capital and secure her stay within the new country. “I didn’t take any vacations or take a day off, I worked from Monday to Monday for five years as a cashier in a gas station and would double up with other jobs,” she says. Her mindset at this point was to change her life, she worked hard and saved. She covered for her colleagues as they went on vacations and added up her capital by being paid for overtime. In that spirit, she frequently sent money via Equity bank to help her family and her fellow villagers back at home. Contrary to the perception of others, Ann raising funds was not her love for money but her passion for people. Ann, therefore, came back to Kenya after five years. However, she went back and has stayed there for 14years. Ann Mwai then began her entrepreneur journey in the U.S by opening Access Enterprises Limited which is a cleaning service business and also a truck business company. Business was so good that she could be able to travel more than twice a year. “It took a lot of focus, discipline, and not doing many things to reach where I am today,” she says. However, Ann says Bama Diaspora Realty was birthed from her desire to empower women. Ann says that she was inspired when she watched her mother doing business and also her grandmother. Before she left Kenya, at the age of 20, Ann chaired a small group for Kenya Women Finance Trust (KWFT) in Muthama which constituted of her mother and her mother’s friends. Through this, she was able to take her skills into another Sacco she was a part of in the U.S. The Sacco or the Chama named Kenya North America Diaspora Sacco (KNADS) was started and was focused on helping the Kenyan Diaspora to acquire and invest in land. Ann was a very active recruiter and became a super brand ambassador. She also served as one of their board members. Through this, she had to do a lot of research and due diligence to help the Sacco acquire lands in Kenya especially in Kiambu and Laikipia counties which led to her passion for real estate. When she would come to Kenya, she would help countercheck lands for Kenyans living abroad who were afraid of being swindled. Kenyans would buy pieces of land at a very expensive price on a piece of land that has low market value or buy a piece of land in a location, not promised by the seller. The injustices Ann saw with Kenyan emigrants being lied to prompted her to action. In December 2019, Bama Diaspora Realty Limited was therefore birthed to help the Kenyan diaspora to purchase and invest in actual

land and at the right market price. “My calling merged with my business, my calling was helping Kenyans and investment was my DNA therefore real estate was just automatic,” she adds. Today Bama Diaspora has 95% of their clientele living across the globe and the rest being Kenyan residents. The company stands out since its main priority is customer satisfaction. Anne Mwai says that business is giving clients the value for their money. As a female entrepreneur, Anne Mwai says it’s a challenge to venture into a male-dominated field especially in Kenya. However, she narrates that that should not deter any woman. Her advice

for young entrepreneurs is to get the education that you require however if you are in a position not to like herself previously, she advises you to work. “Start your business with what you have not what you love, if not, you will work for someone for the rest of your life! For there is power in the mind.” Anne says. She advises that with what you have been ready to put in the hours and you will be able to empower people. Anne Mwai has been able to turn Bama Diaspora into a contender in the real estate diaspora market in a year. Her life story is a symbol of hope, faith, and determination.

INVERSK MAGAZINE

GROWTH STRATEGIES

Building and Maintaining a Resilient Brand If you promise to provide the best customer service, then it must be the best, period. If you stick to your promises, then you’ll gain trust, and customers will forgive you when something goes wrong. BY MONICAH CHEGE

B Businesses worldwide have had to look into their business models and adopt new technologies to stay afloat during the COVID-19 crisis. While the tail-tale signs of how-to are evident, the question is whether brands have the resilience to make it through this period and beyond. Executives from big corporates are candidly announcing the intentions of building back a new fortress of their brand, but how remains the big question. Building a brand is more than advertising, and a lot is expected from brands intending to achieve growth and transformation. Businesses need to identify the critical components of a resilient brand that will see them through this period and beyond. So how can one build a resilient brand, a brand that will not only earn an excellent reputation but will stand the test of time? Here are some five tips that may guarantee the building of a resilient brand and will go a long way to ensure your brand withstands the test of time. 1. Your Brand Promise must align with Your Brand Experience. What does your brand promise your customers? A brand promise speaks to your customer, either explicitly or implicitly, what to expect from your products or services. It tunes their expectations on the quality of your products/services. Within a short span, your brand should deliver to the customer through every touchpoint and interaction. A resilient brand does not just say what it will do; it keeps the promise. In a nutshell, if you promise to provide the best customer service, then it must be the best, period. If you stick to your promises, then you’ll gain trust, and customers will forgive you when something goes wrong. 30 I Inversk Magazine I March-April 2021

2. Incase You Make a Mistake, Own Up and Deal with It. Every business owner will agree that they make mistakes like a normal human being. Failure or making mistakes does not mark the beginning to an end; it makes you take a step back and think through the error. If you realize you’ve made a mistake, acknowledging that it has happened is a step in the right direction. Wrap your face around it, see where you got it wrong, correct it and ensure it doesn't happen again. A resilient brand will go through the typical lifecycle of challenges and successes. The one thing that will make your brand stand out is surviving through the ups-and-downs and coming out at the top. 3. Pay Attention to Your Customers

With the advent of technology, consumers can follow through with how their favorite brands are performing. The internet is now a reputable force in increasing transparency and the reach of products or services. Y our customers are your greatest asset, and listening to their sentiments about your product or service is vital. There's an old saying that resonates well even today as ever: The Customer is King. Therefore, a resilient brand will do a little prodding to reveal what their customers are thinking. Take that initiative to lay proper groundwork to get customers talking. It would mean asking questions, talking about the products that appeal to them, and pointing them to examples and displays. Brands can occasionally post new items on their social media pages and ask their follower's opinions. Be open to your customers' criticisms; it will allow you to look at your product or service from a third eye angle. In short, when you're offering a product or service, you should be thinking about how it will solve customer problems. 4. Pay Attention to Your Employees

Y our employees will play an integral part

in your business success. This is because they interact with your customers on a day to day and understand their needs. For you to deliver your brand promise, you need your employees to believe in the brand. A disgruntled customer can be a problem, but a real headache is an employee sabotaging your brand. The voice of your employee is a crucial ingredient, so keep them motivated. Learn to understand what your employees are going through and how best you can help tackle their issues. The moment employees share their concerns freely; it shows their will to contribute towards organizational growth. This goes a long way in reshaping and strengthening the company values. Think of your employees as your cheerleaders— they will make it easier for you to achieve your vision. 5. Be Patient Brand success doesn't happen overnight; it takes time. And for a brand to achieve tangible brand recognition, it boils down to how patient and committed you are when it comes to success. Think about the success stories of big brands that you know. Take Microsoft, for example, which took 11years to become successful, and Apple 20 years. These big brands put in a lot of work while patiently seeing it move along the growth curve. Patient means that you'll continue trusting the process through thick and thin. Every business success story has some elements of enthusiasm and patience behind it. The question would be on whether or not one has the strong-will to wait through the brand lifecycle. In winding up, taking a step back to reassess your brand presents an opportunity to develop a strong identity and ensure the business remains relevant. Having that brand identity goes beyond representing what you offer as a brand and shows how resilient it would be during difficult times. Monica is a dynamic marketing and communications professional with over ten years of progressive experience in brand management and strategic corporate communications.

INVERSK MAGAZINE

TECHNOLOGY - MARKETING AUTOMATION

INVERSK MAGAZINE

SOCIETY

Rising social instability and A Human Solution to Complex Social Problems Having access to timely information, having tools to monitor risks over time and the ability to model future scenarios overtime should be part of every company’s enterprise risk-management tool kit. -lived regimes that had been considered stable were removed, while in Syria the protests escalated into a civil war that has claimed more than 200,000 lives and fueled the rise of the Islamic State movement. Identifying Risks And Trends The reality is, the Arab Spring caught many off guards, but the region was ripe for this kind of instability. An analysis of the Arab Spring using the ICESERVE24’s ABI toolkit maps the connections between more than 80 risks in 174 countries, identified a broad mix of contributing factors behind the widespread and contagious protests. These included economic disparity, high youth unemployment, brain drain, rising food prices, lack of access to loans, political volatility, crime, corruption, poor social safety net protection, expropriation, and human-rights abuses. If we apply that analysis to other countries around the world, we can see countries that have similar types of risks BY MICHAEL J. PADILLA and that raises some red flags for potential social instability. Believe me, it isn’t a crysurn on the TV or log on to should be looking at such as unemploy- tal ball. It can’t possibly tell us that in six social media or open your ment, failure of national governance, and months a country will have protests. But it newspaper – most of what fiscal crises. I will address the ASIS Mid- can say that a country is similar and needs you’ll see is a social risk. dle East Show in Bahrain with the topic, to be monitored because if certain risks Businesses need to consid- “Social Challenges and a Human Solu- get even worse, conditions might reach a er several themes that may tion,” driving to the point that companies tipping point and go from being unstable lead to social instability in need to understand the risks they are ex- to protest to armed conflict or regime their risk assessment of any country. posed to in their local markets, both di- change. Social instability in the form of rectly and indirectly, and how these risks Such scenarios can help companies strikes, demonstrations, and other types can mushroom into much bigger threats. assess the risks in the countries where of civil unrest can have far-reaching and Having access to timely information, they operate, as well as the extent of their often unpredictable consequences for having tools to monitor risks over time exposure. Over the last 8 months, I have businesses and communities. And its and the ability to model future scenarios effect on any business can be profound. overtime should be part of every compa- been presenting at several conferences as well as talking with customers about the The good news is that there are ways to ny’s enterprise risk-management tool kit. assess and mitigate these risks that can The Arab Spring is an example of challenges facing enterprise risk-managers, leave companies in a better position to how risks are interconnected and can cre- the problem for them is how to take the survive. ate a domino effect, and we are now clos- information that’s out there, how to An Activity-Based Intelligence er to an Arab Spring 2.0 . The Arab interpret it and how to put mitigation (ABI) report, published by ICE - Spring began when an unemployed strategies in place that can help companies SE RV E 24, cited social instability, 24-year-old Tunisian self-immolated to avoid some of these risks. To do that you political polarity, and income and class protest his treatment by police. Spreading have to make sure you’re aware of all the inequality as major trends. Social protests led to the fall of the Tunisian risks the company faces, monitor those instability is virtually enmeshed within government and sparked similar uprisings risks regularly, and try to quantify the all the other trends that companies in several other Arab countries. Four long impact of those risks.

32 I Inversk Magazine I March-April 2021

INVERSK MAGAZINE

SOCIETY

Some Solutions To Volatility

Economic Disparity Links To Other Risks

One of the main ingredients of social instability is economic disparity. It’s always a combination of risks, never one or two in silos. Economic disparity coupled with political volatility is the combination of risks that makes a country ripe for social instability. The reality of poverty varies considerably between countries, as does people’s outlook. An ABI report has shown that food prices jumped from 2006 to 2008, but the global forecast was for boom times. After falling in 2009, food prices climbed again, and an economic crisis gripped most of the world. Amid a bleak future with high unemployment, the second rise in food prices was the final spur that made an individual Tunisian’s protest grow into the Arab Spring. Economic disparity is closely related to unemployment and underemployment. Global unemployment stood at 5.9%, compared with 5.5% in 2007, before the global economic crisis, and youth unemployment is nearly three times higher than for older workers, even though the younger generation has attained higher levels of education. Social unrest surged in 2009, after declining— along with unemployment— in the 1990s and 2000s. Social unrest is now 18% higher than before the crisis.

While companies have little power to reduce social instability, they can be good citizens, pay fair wages and start programs to make neighborhoods better, which have very often helped address the unhappiness due to loss of social equity. Often, successful foreign investment begins with a community officer being assigned to work interactively with local communities as the project or operation develops. Companies also can work with governments to identify the skills and jobs needed, so that funds for training and education are put to the best possible use. Corporations also need to focus on risk mitigation. They may want to transfer some of their risks via insurance, such as political risk policies that offer coverage for losses due to political violence, expropriation, currency inconvertibility, or government default. Companies are also increasingly looking at the role their captive insurance can play in managing these risks. The credit losses coming out of the global financial crisis, and in the past few years the political risk insurance claims, have not only made risk managers more aware of the risk but also of the value that insurance can bring. There are ways to protect Free Markets, Rule Of Law the supply chain as well— through supplychain insurance, backup production, or Unemployment isn’t a sufficient condition diversifying the supply chain into more for unrest. Unemployment rates during stable countries. the economic crisis topped 25% in both Social volatility has several compoGreece and Spain and neared 15% in nents, and as we are witnessing: each Ireland. But while Greece has seen many country is different. There isn’t an anyone protests, some violent, Ireland and Spain -size-fits-all indicator for social instability have had fewer, even though Greece was and political volatility. That’s what makes one of the less unequal countries in the it such a challenge. But there are measures OECD. However, with a higher number firms like ICESERVE24 can take to get indicating greater perception of ahead of the risk and be resilient when corruption, Greece stands out for weak these types of events unfold. governance, ranking No. 71 on Transparency International’s Corruption Perceptions Index as the crisis took hold in 2009, versus No. 32 for Spain and No. 14 for Ireland. The What and the Why What causes corruption? Is it income inequality? No. It has to do with rule of law, whether the constitution in a country is respected, whether there are strong Michael J. Padilla Pagan Payano is institutions of horizontal accountability, the founder and CEO of Al independent courts, etc. Thuraya Consultancy™, bringing The simple political reaction to a unique understanding of risk economic stagnation is populism, the analysis and supporting his customers in understanding culmore populism gains strength, the less ture and traditions of countries to secure the environment for business and be better employers and investment. If I were a corporation, I’d try investors. to invest in places where rule of law is strong and where feelings are not against open markets, but the reality is that many of the emerging markets, where the growth is, are weak in those areas. March - April 2021 I Inversk Magazine I 33

38 I Inversk Magazine I January - February 2021

INVERSK MAGAZINE

BUSINESS

Before you Start a Business Do not start a business because someone else is doing it successfully. They may have a unique ability in them that is not in you so find out what yours is.

BY WACEKE NDUATI

M Many people want to go into business. They have certain beliefs and many times delusions about what running a successful business is all about. Many want to escape what they perceive to be the restrictions in employment that is freedom on how to spend time and belief that going into business will break through the glass ceiling on how much income they can earn. In today’s article, I am addressing that person who is employed and is thinking about going into business as well as that person who may have just moved into business and is starting out. This just a taste of what I have personally learned and I hope this can be the beginning of helping you avoid some of every expensive mistake that many have had to go through. The networks you had whilst employed are not necessarily going to carry forward into your business. When I left employment, I was working for a prestigious bank. I assumed that the clients I had then would cross over with me into my small business. This was not the case. The clients associated with me because of the brand that was behind me that is the bank. When I no longer had that brand, they simply could not be bothered. I have met many people about to make this mistake. Do not assume because you are good at your current job that clients will jump into your boat. Many clients are loyal to the brand of your employer. Y ou have to be prepared to build an entirely new network and to prove yourself all over again under a new name. Even your close family and friends may very well not become your clients so don’t depend on that. Maybe before you hand over your

resignation, see if your proposition is strong enough to attract one or two independent clients who are not associating with you because of the company you work for. Y ou will be kicked out of your comfort zone. With the lifestyle you had when employed, you will not be able to keep up with it when trying to sustain a new business. Be ready not to be able to eat out and hang out with your friends that much. The temptation is to continue living like you were so that others can know that things are going well for you. Many times people spend money setting up a business to accommodate the image and comforts they had whilst employed. They get an office in the right location with a receptionist, messenger, etc., and establish an entertainment budget even before the first client walks in. They then kid themselves that the money will come. Six months later when reality hits, they have to let go of the office and support staff they surrounded themselves with. When you are starting out, focus only on the necessary things needed to run that business. Let all other things only be dictated by the actual growth of the business. Y ou may not even need an office or full-time staff to begin with. Be prepared to be the messenger, filing clerk, sales, and marketing all at once. Y ou will not have that free time you dreamed about. A day will come when you have Kes 200 in your bank account and you still got to find the willpower to move on. This process is about character building and if you are not ready for your character to be challenged, reshaped, and transformed through trials then business is not for you. The character that is created as you are shoved out of your comfort zone is what is needed to support the growth of your organization as you build it. Do not look at someone who has been in business and start comparing yourself or live the life they are living. They have walked a journey of 1000 miles to get there and remember you are only on the first mile. Y ou are not an entrepreneur simply because you started a business but you need to be ready to commit to the process of becoming an entrepreneur.

Y ou will fail if it’s only about the money. Two people can start a butchery in the same location. One thrives the other doesn’t. Why? Because of the motive behind the business. One is in it for money and the other because he likes what he does and enjoys serving people. He will naturally spend more time learning about it and put up proper structures as well that tend to make the business more efficient. As a result of his motive, his business is more successful. Many people follow the money or think they should start a business because of the money. When the money doesn’t turn up as fast as they expected they give up. Being passionate and purposeful about what you are doing gives you the “staying power” required to get through the hard times. Do not start a business only because you think it will make money. Do not start a business because someone else is doing it successfully. They may have a unique ability in them that is not in you so find out what yours is. Entrepreneurship at the end of the day is a fantastic journey. Just like school, you only learn once you are in it. No guarantee can be provided to you from the side lines. Commit to the learning process and remain aware that not everything you are thinking or planning may come to pass. The biggest question I think people need to ask is “Am I ready to change?”

Waceke is an entrepreneurship Coach & Author. She is the Founder of Centonomy

March - April 2021 I Inversk Magazine I 35

INVERSK MAGAZINE

RISK AWARENESS

Prevent One Crisis from Producing another and the Rise of Groups Exploiting the COVID-19 Pandemic Feelings of hatred and grievances have become more pronounced as individuals seek to find spaces of more certainty and comfort in the face of the pandemics. In this sort of environment, extremism can thrive.

BY MICHAEL J. PADILLA

L Last night I was speaking at a virtual conference about different groups exploiting the COVID-19 pandemic. They are regaining influence as well as fuelling extremism on the far-right and far-left in Europe and giving Islamic State and other militants groups cover to regain influence. We are witnessing the impact of the COVID-19 upon the world. Across the world, the day-to-day lives of people have changed dramatically and it is unlikely these changes will diminish anytime soon. There has been a broad 36 I Inversk Magazine I March-April 2021

range of actions taken in response to COVID 19, stay at home orders, working from home; limitations on movement within and between countries; limited or no access to various public and private services. These actions have knock-on impacts such as a major downturn in economic activity, stressed supply chains, and disruptions to transport networks, amongst others. Both the threat posed by COVID-19 and the impact it has on our day-to-day lives appears set to continue for a considerable period.

pandemic brings new opportunities for extremists to exploit discontent and uncertainty through fostering victimhood narratives, spreading distrust of government, pursuing disinformation c ampaigns, dange rously fue lling nationalistic feelings, and generally spreading animosity towards “others”. In this environment, we have seen a proliferation and continuation of divisions and hatred along with, unfortunately, acts of violence, but we have also seen that far -right groups have been sending out messages online encouraging supporters The Rise of Extremist to go out and infect “enemies”. In the Middle East and Africa With the above, we have witnessed that regions, we have witnessed Islamic State extremists have taken full advantage of and related groups are seeking to recoup the uncertainty being faced and continue ground in Iraq, Syria, and the Sahel, to exploit the circumstances to gain exploiting the fact that governments are further support for their ideologies. The caught up in combating the virus or

INVERSK MAGAZINE

RISK AWARENESS otherwise destabilized, including by the collapsed oil price. What we are seeing is that the virus has an impact on fragile states and provides Daesh and other factions new room to breathe. Oct 19th, 2020 ICESERVE24 reported that: The Islamic State called on its followers to attack westerners in the Gulf yesterday, October 18. The Islamic State’s (I.S) spokesperson, Abu Hamza al-Qurayshi criticized two incidents; the recent normalization agreements between Israel and the UAE as well as Bahrain and Saudi Arabia’s decision to open its airspace to Israeli flights. The IS spokesperson called on the group’s followers to carry out attacks against Westerners and Western companies in the Gulf, including against “pipelines, factories, and facilities”. Al-Qurayshi also congratulated the group’s Syrian affiliates for the recent killing of a Russian general (possibly referring to the killing of a Major-General in August), before focusing on branches outside the Middle East. Al-Qurayshi further called on the group’s members to carry out attacks against prisons in a bid to free IS prisoners, recalling similar recent attacks in Afghanistan, while also calling on all Muslims to revolt in Mali, Egypt, Nigeria, Burkina Faso, Congo, and Chad, and mentioning recent “victories” in Mozambique and Somalia. Governments have taken extensive measures to protect populations and campaigns to inform the public on how to hinder the spread of the virus. These efforts have been delivered with varying levels of competence and success. However, a common feature in the measures to address the virus has been uncertainty. There is extensive uncertainty about the continuing impact and evolution of the virus and the measures that work to counteract the virus. Hasty and often complex government guidelines have resulted in uncertainty among societies. As a result, the economic impact is going to affect people’s lives hugely. In addition, with uncertainty comes feelings of distrust, dissatisfaction, and division among and between societies. Feelings of hatred and grievances have become more pronounced as individuals seek to find spaces of more certainty and comfort in the face of the pandemics. In this sort of environment, extremism can thrive. Weaponize Information: The use of disinformation during the pandemic has been massive. The most obvious use of disinformation has been in the apportioning of blame for the virus upon particular groups or in the creation of various conspiracy theories. The continual production of disinformation in times of uncertainty fuels various conspiracies where blame is placed upon others, which even if it does not lead to direct violence remains damaging to societies. The blame dimension in messaging cuts across the ideological spectrum of extremism. We have tracked that Anti-immigration groups in France and Germany have circulated information that Muslims have been spreading the virus on purpose and the source of the virus has been tied to asylum and immigration centers.

Following on from blame, extremist narratives then attempt to motivate supporters to take action against the identified out-groups they deem to be responsible. ISIS directed its followers not to travel to Europe, as a highly infected area but has called on supporters already in Western states to launch attacks and support prison breaks to release more supporters. The COVID-19 world and the uncertainty it contains provide a context for narratives to connect with a wide range of emotions and grievances that people hold. It does not appear that matters will improve quickly, even if the virus is brought under control. The economic impact of COVID-19 is going to be multi-dimensional and potentially long-lasting. Governments need to continue with immense levels of public spending to support health care systems, to maintain employment levels, to provide public support due to job losses, and to maintain particular sectors of economic activity. We already see that countries and societies that are facing economic uncertainty will experience continued underdevelopment. But a trend we have been watching is that following a major financial crisis, extremism is likely to grow, which we have witnessed in part of Africa and the Middle East over the last several decades. History has shown that during and following financial crises uncertainty prompts people to be easily taken in by extremist rhetoric. And it is already well established that economic deprivation and the absence of opportunities for personal development fuel grievances as individuals feel excluded. And so, if we follow the lesson of the past, I can say that the massive amount of money that will be spent to address the economic, social, and healthcare consequences of the virus risks will be spent at the expense of security. Feelings of anger, disillusion, and contempt for others as a result of the pandemic will continue and this will continue to fuel radical views. Divisiveness is becoming a normal part of the political process, domestically and globally. This results in responses to the pandemic being designed based on competition rather than addressing the actual lived experiences of people in society. Attention needs to be given to the lived

experiences of people, in particular the marginalized, as this is where radical groups can penetrate, either through service provision and support or by providing supportive messages that people will grasp on to. At this stage, it is unfortunate that the uncertainty of the current impact of COVID-19 will c o nt i nue i n t o t h e pos t- CO V I D w orld (whatever that may look like, another dimension of uncertainty) as conditions are likely to remain responsive to ideas and actions related to blame and hatred. Radicals will welcome these circumstances as it supports their objective of gaining further support for their ideologies, regardless of the damage it causes. For me, I hope we do not lose sight of the security risks as we focus, quite rightly, on the immediate health and social impact.

Michael J. Padilla Pagan Payano is the founder and CEO of Al Thuraya Consultancy™, bringing a unique understanding of risk analysis and supporting his customers in understanding culture and traditions of countries to be better employers and investors.

March - April 2021 I Inversk Magazine I 37

INVERSK MAGAZINE

FOCUS - SUSTAINABILITY

Fighting the Pandemic, Racism We need to collectively buy into this as a purpose - in whatever sector we apply our trade, it is our collective responsibility to seek ways to pursue equality.

BY JORDAN STEPHANOU

s Churchill said, ‘Never waste a good crisis’ - we can use this pandemic to make big environmental changes. Great to see London doing it already with the step towards increased bicycle and pedestrian lanes. From a tech perspective, we’re using this crisis as part of a second wave of e-commerce adoption, the influx of new marketplaces in education and health, and the leap to a more integrated home and work life. Countless more examples that this pandemic can be used for good, within our inter and intrapersonal lives too. Gratitude and appreciation of little things - if we can keep that, it will genuinely lead to happier lives. Now, we need to apply that thinking to the George Floyd situation. # blacklivesmatter and diversity is a topic that is not seen as a priority outside of tragedies like this - and that itself, is tragic. But this needs to be used as a trigger for a movement of all people across all industries for weeks, months, years and decades to come. We need to collectively buy into this as a purpose - in whatever sector we apply our trade, it is our collective 38 I Inversk Magazine I March-April 2021

responsibility to seek ways to pursue equality. Eventually, eventually, greater equality should lead to greater conscious and subconscious understanding that we are absolutely different, but absolutely equal. In the same way we can use the pandemic to reform our approach to the environment long term, we need to use the George Floyd situation to reform our approach to subconscious and conscious racism long term. In our personal capacity we can all campaign. Saying that we need to acknowledge white privilege and racism is a good start. But it can be dangerously close to ‘trendy’ and ‘fluffy’. We can all take further steps. In professional capacity, we can action change that will [eventually] lead to long term impact. In the startup space there are a few things we can do. There should be a new w ave of ange l ne tw orks (like Cornerstone), angel investors, family offices and VCs that a) focus exclusively on black founders, and b) established investors (of varying fund sizes and that invest various stages of business) that shift focus slightly to actively choose higher percentage of black LPs, venture partners, associates - black decision makers.

They need to actively seek out blackowned businesses to invest in and fuel. This has to be an internal KPI. Something that everyone agrees is the right thing to do to move the world forward. A purpose. It’s much easier said than done. South Africa has tried for two and a half decades to institute institutional blackeconomic empowerment, but it falls apart when the government enforce it without appropriate organization and buy-in. This is not a top down approach. This should be done bottom-up, private sector operators and investors instituting this by choice. Not easy. It needs excellent businesses that tick the right boxes. Pre-seed and seed finance is crucial to give these startups the chance to flourish. It needs commitment to the cause In startups, first key hires should actively seek more diversity. When employee number is more than 5 people, enforce an internal rule that the business will never be more than 60-40% split in both gender or race. Again, maybe not easy, but what’s the point of life if we don’t have purposes to strive towards? There are obviously 1000s of flaws to my suggestions. That’s good, we should implement change, experiment, learn that our hypotheses are flawed, and actively improve on them over time. The only way we will prevent ‘accidents’ like George Floyd or Oscar Grant, is by changing the power dynamic in society. It’s by socioeconomic equality. It’s by getting the right voices in the rights places and slowly, gradually, righting the wrongs of centuries of human history. What can you do within your job, your role as a leader, to institute change in your company to do your part in moving the world forward?

Jordan is a Senior Fundraising at Crowdcube and former co- Founder for tastePal

Inversk March 2021 Issue

Articles inside

BUILDING AND MAINTAINING A RESILIENT BRAND

HOW TO PLAN FOR A HOLIDAY FOR FIRST TIMERS

ANNE MWAI

HOW LIZZIE WANYOIKE BUILT KENYA S TOP TECHNICAL COLLEGE

HOW MAISHA IS STEPPING UP TO SHAPE MOTHERS' MENTAL HEALTH IN KENYA

HOW KENYA S GIGSASA IS REVOLUTIONIZING THE WORKPLACE PRODUCTIVITY

THE FUTURE OF TALENT ACQUISITION IS HERE: TOP TRENDS FOR 2021