Global Economic Overview
The annual inflation rate in Kenya accelerated for the seventh consecutive month to 9.2% in September from 8.5% in August according to data from the Kenya National Bureau of Statistics. This was largely driven by a rise in food and energy prices. Food prices rose by 15% while energy prices went up by 11.7% over the same period.The phenomenon that is causing a strain on the pockets of both individuals and businesses alike is not unique to the country but the global economy at large.
Universal Health Coverage, Is it a mirage?
Health is a critical part of the Sustainable Development Goals (SDGs). The SDG 3.8 targets to “achieve universal health coverage, including financial risk protection, access to quality essential health care services, and access to safe, effective, quality, and affordable essential medicines and vaccines for all,” it reflects the overall ambition of good health and well-being for all, at all ages.
Universal Health Coverage (UHC) catalyzes social inclusion, gender equality, poverty eradication, economic growth and human dignity. This inputs into SDG 1, which calls to “end poverty in all its forms everywhere”, without UHC, SDG 1 is at risk.
One of the indicators used to monitor progress towards UHC is S ervice C overage I ndex (SCI), with countries having a value from 0 (no service coverage) to 100 (full-service coverage with all essential services).
Fighting corruption in Kenya and Zambia, lessons learnt
In 2018, A Zambian parliamentary delegation visited Kenya to learn how to effectively fight corruption. Given the well-publicized corruption problems that Kenya has had since, many Kenyans reacted with consternation, and some noted that the visit itself may have been a form of corruption. The reaction in Zambia was more amusement with various stakeholders wondering what would come of the mission.
Though the purpose of this visit remains questionable, there is no doubt that the effect of corruption in these two countries on both the social fabric and the economy is rather obvious. Kenya is currently ushering in a new government with Zambia having elected a new regime in August 2021, so what can be learnt from the development in both countries since 2018?
Digital Government - What next?
Digital government continues to evolve as citizens constantly look for increasingly personalized and seamless experiences. Also, the pandemic strengthened the shift towards digitization forcing governments to rethink their business models. Digital government has evolved through key stages, transitioning from the digitisation of individual government services in Government 1.0 towards the development of a citizen-centric model that provides services centered around citizens’ life events in Government 5.0.
Tax Dispute resolution and legislation
The current global economic environment is placing immense pressure on governments’ revenues. Rampant inflation, increasing food and energy prices and disruption to production and distribution are subduing economic activity and dampening growth prospects. In East Africa, infrastructure spending has significantly increased over the last five years, financed largely by both domestic and external borrowing leading to potentially unmanageable public debt levels. Consequently, tax authorities in East Africa find themselves between a rock and hard place, thereby left with no option but to deepen the tax base through administrative measures aimed at optimizing the existing tax base. This has put tax authorities and taxpayers on a collision course leading to increased tax disputes and controversy.
How effective is your board in meeting your organisation's mandate
The board is the apex of Governance in any organisation. It should be composed of competent, diverse, and qualified members capable of exercising objective and independent judgment. The board should have appropriate autonomy and authority to exercise its functions and should be accountable to shareholders and stakeholders and act responsibly towards stakeholders.
The process of board appointment is crucial in ensuring an appropriate board composition that's fit for purpose in delivering board’s mandate. The process should be transparent, open and fair and importantly, ensure that appropriate skills, expertise and experience that the board requires is achieved.
Building a vibrant capital market in Ethiopia
The establishment of a capital market in Ethiopia marks the beginning of a new era. The propellers are turning, opportunities are ripe and key stakeholders are preparing for what will be known as the Ethiopian Securities Exchange to soon take off. Right now, the National Bank of Ethiopia is playing a pivotal role in setting up the Ethiopian Capital Markets Authority (ECMA) and developing relevant regulatory and licensing frameworks to ensure a solid foundation is built. The first players into the capital markets arena will likely be state-owned enterprises and large private banks and insurance companies, who are preparing for this fundamental shift in the Ethiopian economy. The introduction of a capital market, a dynamic platform where securities are traded, and equity and debt capital are raised, will create enormous opportunities for local and foreign investors to participate in the Ethiopian market.