In 2023, remittances from Kenyans abroad surged to USD 4.19 billion, marking a 4.0% increase from the previous year and surpassing revenue from tourism as Kenya’s leading source of foreign exchange. Recognizing their potential to transform the economy, Kenya is keenly aware of the importance of utilizing remittances effectively. Despite being a relatively low-income country, […]
The Genotype of Successful Startups in Africa
Building successful startups involves raising capital financing and developing innovative products or services with rapid growth potential. Success often means achieving a liquidity event, such as selling the company or going public, providing returns to investors, founders, and employees. However, globally, approximately 75% of venture-backed startups fail, with a similar trend in Africa, where the […]
The Implications of the Supreme Court’s Ruling on the NSSF Act 2013
With the enactment of the National Social Security Fund (NSSF) Act, 2013, the Act sought to increase the contribution rates from Kshs. 400 to 12% of an employee’s monthly earnings, with a 6% deduction from the employee and an equivalent 6% deduction from the employer. Furthermore, the Act sought to impose mandatory registration and contribution […]