Do you sometimes feel stuck and confused? You are not alone. In late 1998, I had just completed Senior Six. I looked for a job and failed to get one. That is when I heard about the British American Tobacco (BAT) recruitments for bailing clerks and casual workers. At the time, BAT’s business model was supporting tobacco out-growers farmers and guaranteeing the market. BAT had established several offices across the country as Tobacco buying and processing centres. All these offices were centrally controlled at the head office in Kampala, then located next to the Immigrations offices, opposite the Meat Packers,…
Excellent customer service: the case of Face Technologies in Uganda
The last time (on 30th June 2020 to be exact), I went to Face Technologies to process my driving permit. I arrived at 9:20 a.m., and found gates closed, as people were already so many, and they could not allow any more inside. On that day, I was stopped at the entrance and advised to return the following day before 8:00 a.m. I wouldn’t say I liked the experience and even wrote about it here. I did not return to the place the following day, as had been advised. However, today, 24th July 2020, I made the trip again. I…
Using data analytics to improve efficiency and lower costs
Your business generates a lot of data from both internal and external sources. Unfortunately, most of this data is noise if it is not analysed into insights to inform your leadership decisions. Big Data Technologies, advanced analytical models and computational methods have helped many organisations uncover inefficiencies and internal bottlenecks to growth. Take a case of Umeme, one of the key players in Uganda’s Electricity Supply Industry. Any electricity transmission and distribution company across the continent, can save money, reduce risk, and improve the reliability of critical assets while reducing both technical and operational losses through leveraging on enterprise data…
The size of Uganda’s banking sector, 2020
The banking sector in Uganda has seen steady progress over the years. In 2003, there were 14 commercial banks with a total asset base of Ugx 5.116 trillion, representing average assets per regulated bank of Ugx. 0.37 trillion. By the end of the year 2019, the sector’s total assets had risen to Ugx. 33.380 trillion, representing average total assets per regulated bank of Ugx. 1.28 trillion, representing a percentage asset base growth of 251% over the 16 years. Afriland First Bank from Cameroon also joined the financial sector to increase the number of regulated commercial banks in the country. The…
What is risk management in simple terms?
Risk management is not just about preventing surprises or bad things from happening. It has a lot to do with innovation. If your risk management department does not provide you with insights to improve your business, it is high time you changed the staff. According to ISO 31000:2018, risk management is the impact of uncertainty on corporate objectives. This means, if you do not have any set objectives, you cannot experience risk. The starting point in the risk management process is to define the organisation objectives: what are your objectives at risk? Let us take a simple example of a…
What is the relationship between risk management and innovation?
How does risk management help with innovation? To understand the relationship, study the pictures below and answer the questions that follow: Picture 1: T Model risks Name the four risks present in the T-model above? What risks do you see? Of course, you may have noted weak frame, the car cannot run fast as it could skid, passengers are not safe due to weather vagaries, and poor navigation, etc. Taken together, those risks make it risky to move in the car. Something must be done. And that is where innovation comes about. Now study the next car: Picture 2: New…
