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Behind KCB’s Fat Profits is a Sh1bn Bet Every Year

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“If you want to innovate, you must be prepared to fail. At our bank, we take the approach Fail Fast Forward,” says Kenya Commercial Bank (KCB) Group Joshua Oigara when asked the secret behind the institution’s flurry of innovations that have culminated into untold success in the past five years.

The chief executive of the largest lender in the country by assets says that the reason the bank is so successful is that KCB is prepared to lose USD10 million (Ksh1 billion) every year while trying to come up with new innovations that will disrupt the market.

In an interview with financial services firm, KPMG in its Agile or Irrelevant 2019 East Africa CEO Outlook report Oigara adds that while the group is unsure whether the investment will be recouped, he avers that the risk is worth it because failure to take risk becomes an opportunity for a competitor.

“We also recognize individuals who tried and failed. To succeed, innovation must be championed by the CEO. We face increasing disruption in the market from non-traditional sources such as fintechs, e-commerce, mobile lenders and others. Customers have more choices, and if you are not innovating business in being taken away,” says Mr Oigara.

According to the seasoned banker, the financial services sector is a game of speed and the urgency to innovate is what will bring differentiation to any business in the market.

“If you are not innovating today, five years is too late.” quips the CEO.

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The financial services sector is moving away from traditional brick and motor (branches to serve customers) to technology-driven platforms.

Innovation has contributed immensely to KCB Group’s profitability. In the nine months to September 2019, the group’s profit jumped by 6% to Sh19 billion partly driven by revenue generated from digital channels.

KCB also acquired National Bank during the course of the year to create a giant bank that is estimated to be worth Ksh1 trillion in assets by 2022.

In the recent past, KCB has launched KCB M-Pesa a virtual mobile-based bank account that is offered exclusively to M-PESA registered customers allowing them to borrow small loans between Ksh50 and Ksh1 million depending on the customer’s credit scoring.

The bank has also rolled out KCB Weka Weka, a savings initiative that enables customers to grow their mobile banking borrowing limits.

Conversely, the bank has also revamped its social media channels in a bid to woo more digital customers.

C-Suite Reboot

KCB has also borrowed a leaf from big corporations in the United States in facilitating its senior managers to go through the Harvard senior management training for Africa in a bid to expose its employees to new ways of thinking.

“We are investing in the team through global training programs, retraining on new business models, using data analytics to gain more insights, seeing a customer as a customer of any other business, and investing in IT platforms to enhance efficiency,” Oigara says.

Business Aggression

Oigara also strongly believes organizations succeed not because they are large or small but based on whether they are fast or slow to act.

“We have adopted an agile model in our solution development. Success in business is a factor of how
one is able to act fast in the face of competition,” he adds.

See Also: Joshua Oigara: Why KCB Did Not Buy Chase Bank

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New Bae? Sherlyne Anyango Gets Naughty With Mzungu In The States (Video)

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After declaring that long distance relationships aren’t for her, Sherlyne Anyango might have bagged herself a new mzungu boyfriend. It’s barely days since she left the country to go to the States to ‘hustle’. According to her, it’s easier to hustle in the States with her twerking talent.

Love At First Sight?

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Well, she moved on quickly! This was the reaction of most of her fans after Sherlyne went live with her new catch. Most people were surprised by how fast she possibly got a boyfriend. But she hasn’t made it clear.

While this might seem unfair to her Kenyan bae, Oga Obinna, it was a mutual agreement between them to dissolve their relationship due to the distance between them.

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”I’m a single boy again now😪😱!! Now with the standards you set who will fit in🤷🏿 who will fill your shoes??But Si Ni Life… But for now Kill Them with your AWESOMENESS and SECURE THE BAG!!! Don’t let nobody tell you otherwise. Plus there will always be space for you in my Heart and Kidney🙊🙈🙏🏿.”

In line to this, Sherlyne had also declared how much she misses Obinna and wrote back to him;

  ”Don’t make me cry. That’s life 😞😞. I feel bad. I miss you badly.”

Well, turns out she won’t be missing him any more after getting a new catch. Obinna has not yet responded to Sherlyne’s video posted on her Insta stories. I bet he’s not happy seeing her with another man.

Below is the video;


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Tips to help you get the perfect blazer Eve woman

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 Choosing a blazer is key as it can either break or make your outfit (Image: Pinterest)

 

When it comes to buying or tailoring a new blazer, most people think it’s all about getting what fits. Even though that is one of the most vital things to focus on when selecting blazers, there are other things you need to look out for in order to have a perfect and versatile blazer.

Versatile is not just about being able to match most pieces in your closet, but something that will enhance your outfits and define your best features while at it. In case you are wondering on where to start with buying a blazer, start here:

 Always go for a colour that will pair well with most pieces in your closet (Image: Pinterest)

Yes, this is the first thing you should consider before making or buying yourself a blazer. You need to check your closet and consider the most dominant colour and pieces, can they be layered with a blazer or paired together?

Once that is set, you are good to go, though the more colourful a blazer is the more fun you will have pairing it with other pieces.

When selecting the perfect blazer always be very careful not to choose a small blazer. You might confuse a small blazer for a fitting one.

It should not be too tight that your shoulders cannot move in it or you can barely button it.

Although ladies are lucky they can go with any arm length, because it can be considered fashionable, ensure that it is your size. Also, avoid going for extra-large coats that will drown you and hide your best features.

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 The design and texture of a blazer will play heavily on how good you look (Image: Pinterest)

A blazer is in between a suit jacket and a hoodie. Meaning, it should be able to pass for official and casual events. Let your guide be what you are buying it for.

There are different kinds of blazers ranging from open front blazers, single breasted blazers, belted ones, the list is endless.

Always go for a blazer that resonates with your style and closet items. Also, long blazers are classier and versatile than the shorter boyfriend ones. This is in terms of versatility.

Are you looking for a linen blazer, cotton or the suit material fabric? Do you want it shiny or matte? Do you need one with metal studded elements or with embellished buttons like the army? The kind of texture you go for will determine the way you dress your blazer.

Although blazers are meant to match with all outfits, the kind of design you go for can either limit your outfit choices or broaden your matching game.

 The longer the blazer, the more you can play around with your pieces (Image: Pinterest)

They say the longer the blazer, the double the respect. You already know what I mean by this. Longer blazers are more eye catching, trendy and versatile. It will be easier for you to pair them to a tiny skirt, pencil trouser or palazzos.

Also did I mention how well they pair with crop tops? Yes, when buying a blazer, the length is very important.

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Sewage Menace in Pipeline, Residents Cry For Help

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By Milo George

Residents of Pipeline Transami area are decrying poor drainage system that has caused sewage water to overflow in their area of residence.

The residents claim that the overflowing sewage is not only putting their lives at risk but also causing air pollution.

They have called on Nairobi Metropolitan Services and Nairobi City Water and Sewage Company to come on board and expand the sewer lines before more areas are flooded with raw human wastes coming from the blocked pipes.
“We want Major Badi and our leaders to resolve this menace immediately. It’s terrible many have been forced to shift their businesses because of the foul smell,” they said.
Pastor Joe Ndivoh of Word Evangelistic Explosion Ministries says that they have been forced to call off the Sunday School Service to protect the children from the smelly sewage.
‘‘We now fear that if prompt action is not taken then we will have a bigger health problem than this because we fear there could be an outbreak of water-borne disease anytime,’’ Pastor Ndivoh added.


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