Connect with us

Business

Joshua Oigara’s impressive tenure is the focus of the shift in the KCB Group’s leadership KCB Group.

Published

on

Joshua Oigara's impressive tenure is the focus of the shift in the KCB Group's leadership KCB Group.

Joshua Oigara, the long-serving chief executive officer of the largest East African Bank, KCB, exited the C-suite last week, leaving behind a legacy of change, transformation, and creativity.

In just ten years, he was able to transform the character and nature of the bank, which was a lender that primarily served large departments, ministries, and private sector customers, into an innovative and authentic mass-market retail institution while also maintaining an extensive presence in banking large institutional, corporate, as well as government customers.

KCB

The accurate measure of a CEO’s and business leader’s success is the results they can achieve during their whole tenure. The criteria for evaluation should be based on factual data and not the public’s opinion. For financial intermediation, Mr. Oigara was able to hit the ground running after he took over the management at the Bank in January of 2013.

Advertisement

The lender saw a dramatic increase in the customer deposit accounts. In his time, the customer deposit would increase by a compound annual growth of (CAGR) 35 percent.

The data gathered from the regulatory financial disclosures as well as Central Bank of Africa’s banking surveillance reports reveal that the growth in advances and loans during Oigara’s presidency increased at a rate of 14.5 percent, far exceeding the bank industry’s figures with a lower rate of 8.3 percent during the same period.

KCB’s industry advances and loans increased between 15.2 percent at the end of 2013 and 22.7 percent by 2020. Also, according to the analysis of the data from the financial disclosures of the regulatory authorities and Central Bank’s supervisory documents, KCB advances nearly one for every seven shillings of Kenya’s banking industry today.

Advertisement

Profits before tax

The introduction of the rate cap law within Kenya in September 2016, just three years after Mr. Oigara assumed the helm of the country’s biggest bank, was a major strategic issue. However, a close examination of the information gathered from the regulatory financial disclosures as well as CBK reports will reveal that, unlike the larger banks in the region, Oigara was able to keep the trend of increasing client deposits and loan growth.

The bank was able to navigate the tough times to capture market share from rivals, with the number of customers and deposits growing mainly through digital offerings that saw mobile loan growth increase 4x in 2019.

According to compiled data, advances and mobile loans have risen rapidly since 2015, at 121. 6 percent, accounting for 25. 9 percent of the net lending and advances portfolio by 2021.

Advertisement

With Ksh154 billion ($1.3 billion), advances and loans from KCB are a fraction of — in value of the loan range of the nation’s online lenders together. The sheer amount of KCB’s digital lending portfolio positions the bank as a fintech that is easily visible.

In assessing the performance of Oigara’s administration by looking at profits and losses and other balance sheet indicators, the result is a solid performance.

New revenue streams

The bank’s pre-tax profit grew to the highest ever recorded, reaching $470 million. The bank also achieved an astonishing annual compound percentage of 11.4 percent, considering the drop in profits and revenues in 2020 caused by the coronavirus epidemic.

Advertisement

The data analysis will show that the steady and high rate of pre-tax profit margins resulted from measures to limit costs implemented by Oigara’s government, which regularly reduced the income cost to 51.7% in 2013 and 44.4% by 2021.

In the end, the KCB share of the pre-tax earnings of the banking industry grew from 15.2 percent in 2013 up to 22.7 percent in 2020, a stunning corporate accomplishment.

Another conclusion comes from examining the data for Oigara’s tenure of 10 years of the institution, one of prudent use of capital to fund investment in the development of new revenue streams.

Advertisement

Contrary to other large peers, Oigara’s management was prudent in its dividend policy, with 40% of the earnings per share dividends per share.

While peers in the same period raked in profits with 100% dividend payments, reducing their capital base and hindering their ability to raise the capital needed to capitalize on opportunities in the regional and domestic markets.

The wise use of capital has led to a sustained expansion of the KCB’s money and reserves. This is why Oigara was able to close significant mergers and acquisitions in the domestic market. It bought its National Bank of Kenya and another regional market in Rwanda and Tanzania.

Advertisement

Oigara’s legacy is an outstanding personal accomplishment across many measures. Looking at the figures, what’s happened at KCB is like corporate alchemy.

In the ten years that Oigara has been in KCB, KCB. We’ve learned a lot of poignant lessons about the effects of CEO tenures that are long and the impact of turnover in the CEO’s office on performance.

More time in the job comes with the benefit of experience and institutional knowledge. Also, you can learn to be learned from the management of succession for CEOs and planning, particularly when it comes to the transition of a CEO who is a superstar.

Advertisement

The board’s decision for the chairman, Mr. Paul Russo — a long-serving insider to lead the largest bank in East Africa -is a vote in favor of the continuity.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Report: Small Businesses Assume a Downturn in 2023

Published

on

By

Report: Small Businesses Assume a Downturn in 2023

Almost two-thirds of small corporations and midsize firms anticipate a downturn in 2023, with several reevaluating their strategies to prepare, according to a new survey.

JPMorgan Chase’s just-released annual Business Leaders Prospect study shows how corporations are faring, and features the rising impact of inflation and workforce challenges.

The report also offers suggestions that corporations can implement to further make for a financial downturn.

Advertisement

“Businesses are signaling that they are used in being nimble and prepared for several various situations, which are keys to operating successfully in today’s economy,” JPMorgan Chase’s mind of heart industry banking and specialized industries David Simmons said.

Economic Prospect

The study discovered that company optimism depends seriously on how big a business is, despite similar challenges.

The study found a mere 8% of midsize corporations are positive about the worldwide economy’s prospects—down from 34% one year ago.

Advertisement

Those positives about the national economy fell to 22% from 50%.

Report: Small Businesses Assume a Downturn in 2023

Small business leaders see a richer picture, with almost half expressing optimism about both the national and worldwide economies.

Despite uncertainty about the economy, company leaders feel positive about their very own company’s performance.

Advertisement

In 2023, 69% of small business leaders expect improved revenue and sales.

Sixty-three percent of midsize company leaders expect improved revenue and revenue, with over fifty percent predicting higher profits in 2023.

Inflation

Inflation concerns are on the increase in 2010, particularly for small businesses.

Advertisement

An incredible 91% of midsize company leaders said they’re experiencing inflation challenges.

50% of surveyed small corporations acknowledged that inflation is difficult that year. Almost all noted inflation impacted their expenses.

Almost 38% observed expenses improved by 11% or even more, causing corporations with several options.

Advertisement

Eighty-three percent of midsize corporations passed rates to consumers and buyers, and significantly more than two-thirds (68%) of small corporations raised rates on select goods or services.

“Inflation is a challenging headwind impacting corporations of all sizes across all industries,” JPMorgan Chase’s

the mind of study Ginder Chambless said.

“While we have observed some encouraging signals that inflation has started to average and should cool over 2023, corporations can still wish to contemplate changes to strategies, pricing, or product mixes to simply help temperature the surprise in the near-term.”

Advertisement

Businesses presently took that advice. The study records 82% of midsize corporations are likely to continue to increase rates to mitigate costs.

Workforce Development

Despite the rising cost of managing a small business, corporations stay focused on rising their workforce.

“While corporations may be conscious inside their financial outlooks, their actions display a focus on growth and buying their workers,” Simmons said.

Advertisement

Over fifty percent of small and midsize company leaders expect to grow their workforce in 2023.

“While corporations might be mindful in their financial outlooks, their activities show a focus on growth and buying their employees.”

JPMorgan Chase’s David Simmons

Advertisement

Wage increases will more than likely accompany waves of new hires.

Two-thirds of midsize company leaders, and 42% of small business leaders program to increase wages and/or advantages to entice and keep employees. Another way employers are working to entice and keep talent is through upskilling. Almost half of the employers said they’ll present upskilling and instruction opportunities for staff.

Performance

“Following issues of the last few decades, it’s encouraging to begin to see the resilience of small company homeowners and leaders,” Chase Business Banking CEO Benjamin Walter said.

Advertisement

“The next financial pattern is correct around the corner, so our position is to simply help small business owners program ahead so they can achieve excellent instances and bad.”

Walter and others at JPMorgan Chase suggest company owners continue in which to stay in tune with financial developments and stay variable about preparations for a recession.

The report proposes that corporations “bolster balance blankets and discover opportunities.”

The study report proposes that small corporations “bolster balance blankets and discover opportunities amid volatility.”

Advertisement

Sustaining functioning money can be crucial with today’s financial changes.

The report added that corporations should consider source string financing and vibrant discount alternatives, employing more efficient stock management, and remodeling current debt to reduce liabilities.

Advertisement
Continue Reading

Business

What is known about the new Coronavirus variant XBB.1.5?

Published

on

By

What is known about the new Coronavirus variant XBB.1.5?

A brand new Covid sub-variant is creating some concern in the US, where it is scattering rapidly.

Some instances have already been recorded in the UK, what exactly do you need to understand about XBB.1.5?

 What is XBB.1.5?

It is another offshoot of the globally dominant Omicron Covid version, which itself followed the sooner alpha, beta, gamma, and delta variants.

Advertisement

Omicron has outperformed all prior designs of coronavirus since it appeared in late 2021 and has provided rise to numerous sub-variants which are a lot more contagious than the original.

Symptoms of XBB.1.5 are regarded as much like those of prior Omicron strains, but it’s however too soon to ensure this. Most people knowledge cold-like symptoms.

 Is XBB.1.5 more contagious or dangerous than earlier-in-the-day

variations?

What is known about the new Coronavirus variant XBB.1.5?

XBB.1.5 itself evolved from XBB, which started circulating in the UK in September 2022 but has not been categorized as an alleged “version of concern” by health authorities.

Advertisement

XBB had a mutation that served it to overcome the body’s immune defenses, but that same quality also reduced its ability to infect human cells.

Prof Wendy Barclay from Imperial College London said XBB.1.5 had a mutation referred to as F486P, which sustains that ability to bind to cells while ongoing to evade immunity. That means it is distributed more easily.

She said these major improvements were like “stepping stones”, whilst the virus evolves to find a new way of bypassing the body’s self-defense mechanisms.

Advertisement

Researchers from the Earth Wellness Business (WHO) confirmed on Wednesday that XBB.1.5 has a “development advantage” especially other sub-variants observed therefore far.

Nevertheless, they said there was no indication it was much more serious or harmful than prior Omicron variants. The WHO said it would hold a close watch on lab studies, clinic knowledge, and contamination rates to discover more about its effect on patients.

  • Who can get yourself a Covid enhancement that winter?

 Where’s XBB.1.5 scattering?

Over 40% of Covid instances in the United States are projected to be caused by XBB.1.5, making it the dominant strain in the country.

At the start of December, it accounted for just 4% of instances therefore it has rapidly overtaken other designs of Omicron.

Advertisement

Covid clinic admissions have already been growing in recent weeks across the US.

  • US provides right back free at-home Covid checks

The UK Wellness Security Agency is a result of launching a written report on variations scattering in the UK next week and may reference XBB.1.5.

 Could the XBB.1.5 version lose in the UK?

Nothing is specific, but it will look likely.

The UK had five Omicron dunes in 2022, and more spikes in instances are inevitable.

Advertisement

Numbers for the week to Saturday 17 December from the Sanger Institute in Cambridge recommended this one in 25 Covid instances in the UK were XBB.1.5.

But it was based on just eight samples, therefore we’ll require to hold back for fourteen days to obtain a better photograph of how it is spreading.

Prof Barclay said she expected more hospitalizations in the UK if the version takes off here, “even as we assume it to do”.

Advertisement

Prof John Hunter from the College of East Anglia said: “The total amount of probabilities is that XBB.1.5 will induce a trend here later that month, but we can’t be sure.”

NHS Britain has said the fears of a “twindemic” of

Covid and the virus have already been realized, with equal viruses putting strain on a currently expanded NHS.

Advertisement
  • Covid putting enormous force on NHS – Barclay

 Are researchers concerned about XBB.1.5?

Prof Barclay said she was not especially worried about the overall UK population because there was “no indication” that XBB.1.5 might “breakthrough” the defense against serious illness supplied by vaccines.

But she’s concerned about its influence on the prone, like the immunocompromised, who get less benefit from Covid jabs.

Prof Hunter said he’d observed no evidence that XBB.1.5 was more virulent, meaning it was no more prone to “place you in the clinic or destroy you” than current Omicron variants.

He included: “It’s ironic that most people are focussing on probable variations emerging from China, but XBB.1.5 got out from the US.”

Advertisement

Prof David Heymann from the London College of Hygiene and Tropical Medication recognized that there was however a fair total to understand relating to this newest variant.

But he explained it was unlikely to trigger important problems in countries such as the UK which have high quantities of vaccination and prior infections.

His concern was for countries like China, where there was equally reduced take-up of vaccines and small organic immunity as a result of prolonged lockdowns.

Advertisement

“China needs to fairly share medical information on people contaminated to see how an edition works in a non-immune citizenry,” Prof Heymann said.

  • How is China attempting to overcome its newest Covid rise?
Continue Reading

Business

THE COMPLETE GUIDE TO META BUSINESS SOLUTION

Published

on

By

THE COMPLETE GUIDE TO META BUSINESS SOLUTION

How to manage and promote your Instagram and Facebook accounts from one platform

Meta Business Suite enables you to manage your Facebook and Instagram account through an interface that gives you insights into what’s happening on your pages on Facebook and Instagram.

Find out everything you need to know about Meta Business Suite from our guide!

Advertisement

Quick Links

  • What is Meta Business Suite?
  • How to Get Access to Meta Business Suite
  • How to Use Meta Business Suite: Interface and Settings
  • How to Connect an Instagram Account on Meta Business Suite
  • How to Discover Your Audience Activity
  • Working with Messages and Comments using the Meta Business Suite. Meta Business Suite
  • How to Create and Promote Posts on Meta Business Suite
  • How to Launch New Ads on Meta Business Suite and Analyze Your Ads’ Performance
  • Meta Business Suite Insights: How to Understand Your Facebook/Instagram Pages’ Performance
  • Make use of additional options to run your pages on Facebook.
  • Wrapping up

What is Meta Business Suite?

Meta Business Suite (formerly Facebook Business Suite) is a no-cost platform for medium and small-sized companies. With this platform, you can control the accounts of both your Facebook as well as Instagram accounts in one spot.

Through Meta Business Suite, you can:

  • Create or schedule content on your Facebook page as well as your Instagram feed.
  • You can read and respond to the latest messages and comments on the accounts of your Facebook, Instagram, and Messenger accounts all in one place.
  • Create automated responses to frequent inquiries and actions.
  • Get audience insights.
  • Advertisement launch for your business on Facebook along with Instagram.
  • Access additional Facebook features and options to help manage your company’s presence.

How to Get Access to Meta Business Suite

Meta Business Suite is available both on mobile and desktop. To access it on your mobile device Download the application:

If you are already using Meta Business Manager, you will automatically be redirected to Meta Business Suite. Meta Business Suite page when you sign in to Your desktop. Be aware of this: Meta Business Suite is available only to users who have an official business Facebook Page.

How to Use Meta Business Suite: Interface and Settings

The Meta Business Suite main page includes information about recent posts, updated advertisements, as well as insights on both your Facebook as well as Instagram accounts. You can view important notifications, messages, and comments, as well as other events that require your attention.

You can also make posts/stories, or even advertise your business right on the home screen.

Advertisement

The latest insights are in the right direction. They include:

  • Reach trends indicate how much coverage for the Facebook profile has grown or decreased over the course of 7 days.
  • The total amount of Facebook Likes during the life of the page.

In the lower part of the menu bar to the left, there is access to All Tools. From there, you can access your Page settings to modify important information as well as access settings for your account at work.

Meta Business Suite allows you to create an account on Facebook. To set this up, head to “Page settings.”

Under “Page settings,” you can create shortcuts, select who will upload to your Page timeline, change Page Info and manage page roles, and so much more.

Advertisement

THE COMPLETE GUIDE TO META BUSINESS SOLUTION

How to Connect an Instagram Account on Meta Business Suite

In order to manage Instagram activities using within the Meta Business Suite, you have to connect to your Instagram account. Once you have done this, you’ll be able to create as well as schedule content, reply to messages and comments in Instagram Direct, create ads, and gain insights into your audience.

Log into Your business Account and click “Settings” from the sidebar to the left. Choose “Business assets,” navigate to the “Instagram accounts” tab, and then click “Add Instagram accounts.”

Enter your login for Instagram. If you’re already signed in, you might be asked to join this account. Verify that it’s the account you’re looking to connect or select “Switch accounts.”

Advertisement

Select “Confirm” to connect your account to Meta Business Suite.

How to Discover Your Audience Activity

To view updates on the Facebook and Instagram accounts, visit your account’s “Notifications” section. This is where you can find out the people who liked your content, liked links as well as other information.

Working with Messages and Comments using the Meta Business Suite. Meta Business Suite

The “Inbox” section of your “Inbox” section contains all messages and comments your users send through Facebook, Instagram, and messengers. From this section, you can swiftly respond to their messages.

Advertisement

It is also possible to use an efficient feature–“Automated responses.” This section will see an inventory of the interactions that are listed (greeting people, confirming messages or follow-ups and follow up, etc.). To generate instant automatic responses to these events go through the list, then write the message’s text that will be used to populate the auto-response.

You can also add personalization features like the person’s first name, last name, or full name to personalize the message.

This feature lets you instantly send messages like:

Advertisement
  • A reply to the initial message that a user posts via Instagram and Messenger.
  • Away message. By enabling this option, you can put the page in “Away” status. Anyone who makes a message at this moment will receive the same response. It is possible to set up this feature manually or plan it for the duration of a week.
  • Frequently Asked Questions. You may suggest some FAQs and create automatic answers to these.
  • Job Application Received. Automatic response to an applicant who has submitted an application for employment.
  • Appointment Reminders. A reminder for appointments will be sent out to one of the people on the day prior to the appointment time via Messenger as well as SMS. This is a great option for salons as well as private dental clinics and more.
  • Page Recommended. The system will notify you of a message within 10 minutes of an individual has shared publicly the page they have recommended. It is essential to thank them for their recommendation.
  • Page Not Recommended. This is a type of automatic message to express your regret for a poor customer experience and request thorough feedback. The system will send the message within 10 minutes of the person having shared that he wouldn’t recommend the site.

How to Create and Promote Posts on Meta Business Suite

The “Posts & stories” section is where you can see your latest stories and posts, make new ones, publish or even schedule them.

To add a post To add a new post, select “Create Post” on the top. In the edit window, choose the options for placements: Facebook news feed or Instagram Feed. Add text, photos, or videos, and select other alternatives.

Press “Publish” if you want to publish your blog post right away on the News Feed, or schedule it for later.

You can select”Optimal Times” or the “Optimal times” option to make sure that your article is scheduled for the time your readers are most likely to be engaged.

Advertisement

What is the Best Time to Show Ads on Facebook

To share your post to get your post noticed on Facebook and Instagram Click “Boost.” Your post will appear on the feed and will have a “Sponsored” mark.

Create a targeted list to ensure that the system will display your message to the appropriate people. To accomplish this, simply click the “Edit” or “Edit” link.

Advertisement

Within the “Edit Audience” window, enter the gender or age as well as the location of your target audience. To create a targeted audience add demographics, interests, or the behavior of your target audience. Keep your setting.

Then, you need to specify the time frame and budget for the campaign. The tool will then display the daily average reach. The more you’re willing to invest in advertising, the greater reach you can expect to receive.

You can also set up conversion tracking. For this, you must include a Facebook pixel on your site.

Advertisement

Then, you can choose the currency of your choice and add your ad to your feed.

How to Launch New Ads on Meta Business Suite and Analyze Your Ads’ Performance

Within the “Ads” section, you can start new ads as well as examine past and current ads’ effectiveness.

Pick a target for your marketing campaign.

Advertisement

These goals are open to you:

  • Get More Messages. The idea is to get users to send messages.
  • Promote your page. Draw the attention of your target audience to your page and raise brand awareness and increase the number of Page Likes.
  • Gain more visitors to your website. Contact people who might click on a link to visit your site.
  • Find more leads. Gather customer data using an online request form (from websites as well as Facebook). It can be used to collect email addresses, telephone numbers, as well as names. If you are looking to collect information from contacts via your site’s form, then you must set up a Facebook pixel on your website.

Within Meta Business Suite, you can also create automated advertisements. This tool can help you make and configure ads to reduce time and effort. Keep in mind that the tool needs time to master. The more data it accumulates and the more accurate suggestions you’ll receive.

Meta Business Suite Insights: How to Understand Your Facebook/Instagram Pages’ Performance

The “Insights” section on Meta Business Suite In the “Insights” section, you will see the coverage of your page’s posts through Facebook and Instagram as well as the reach of each post.

“Overview Page “Overview” page also shows information about your followers. This page will show the number of people who liked your Facebook page over the last 28 days broken down by gender.

Advertisement

Visit “Results” to see how Page Reach is changing over time.

Within the “Content” section, you can see a variety of stats for each blog post, such as the number of likes, comments, reposts, and Likes.

Click on “Audience” to view the target report on your audience. Based on the information in the report you can create an image of your target followers using Facebook and Instagram. The tool can provide various demographic information such as age, gender, and Top Cities and Top countries.

Advertisement

10 Advanced Tips to Analyze Your PPC Competitors

Make use of additional options to run your pages on Facebook.

Under the “All tools” section, you can locate additional helpful tools. From here, you can control your billing, download Business Apps, manage Profiles, and much more.

Wrapping up

Meta Business Suite is a relatively new product for marketers. It replaced Facebook Business Suite, simplifying managing accounts on Facebook and Instagram for small enterprises. Yet, Meta is looking forward to expanding the features that the service offers to companies regardless of size. We are therefore eager to see lots of new features to come soon.

Advertisement
Continue Reading

Trending