Strathmore Business School, Doing Business in Africa program has attracted an array of top European Business Institutions, as a reference point to providing insights to the make or break factors of conducting business in Africa.
Kenya, a middle income country and one of the top four fastest growing nations in Sub-Saharan Africa has earned the repute of hosting international bodies and multi-nation corporations, pace setters in the business world today. The country’s greatest attraction to the international business and policy spectrum is its innovative and fast growing technological advancements. Notable ground breaking advancements have been in the areas of: Mobile money transfers, Mobile banking, Tech based agribusiness advances; Tech based financial solutions, among others.
Students from Keiyo University, Japan, were hosted at Strathmore Business School on 4th August 2016, for a full day induction workshop on the intricacies of doing business in Africa. The highlight of the sessions was the M-Pesa Case Study facilitated by the MBA Academic Director, Dr. Fred Ogola, and the M- Kopa Solar case study as facilitated by Chief System Officer Ms. Pauline Vaughan.
Providing context to the M-Pesa case study, Dr. Ogola spoke of the defining factors which made the first mobile transfer platform such a success story. Poor rural banking amidst infrastructural constraints are some of the factors which the M-Pesa innovation overrides. With a national wide reach within such a short duration of its existence, the platform continues to generate awe from its seamless mode of operation in both rural and urban Kenya. Concerns of trust translating from the customers to the local M-Pesa agents were among the questions raised in the discussion. Creating a trust system from the organisation to the customers propelled the M-Pesa product to one of most consumed services national wide.
The M-Kopa Solar innovation is also a product worth reckoning. Tackling Africa’s greatest challenge of making electricity accessible, M-Kopa Solar which functions through an M-Pesa crediting system, which allows low income earners to acquire the device through a loan system. M-Kopa solar currently grants over 333 homesteads with electricity.
M-Kopa Solar is home to prestigious awards such as: The 2015 Zayed Future Energy Prize, Financial Times/IFC, World Bank Sustainable Finance Awards, AfricaCom Award for Rural Telecoms, and Bloomberg New Energy Finance Award.