Nielsen ranks Kenya at the top of its Africa Prospects Indicator report
Nielsen Holdings, the information and data company, has released its seventh Africa Prospects Indicator (APi) report.
The biannual report provides comparisons and profiles of African nations, ranking countries in its Top 8 list.
For the first time in four years, each country featured in the list is shuffled from its position from the previous report.
The findings are based on “macro, business, consumer and retail indicators, to create an overall indicator based on nine common datasets and 12 weighting calculations to determine the relative indicators for each of the individual dimensions.”
“What is increasingly evident, is that no country is unaffected by fluctuating dynamics, although the sources of disruption and opportunity are unique to each market,” state Alisa Wingfield, Executive Director of Though Leadership and Global Markets at Nielsen.
“Change is fast becoming convention, with success favouring companies that are able to make regular adjustments via agile strategies, operations and execution.”
Kenya is ranked in first position, up from third position in the previous report, followed by Côte d’Ivoire, which fell from first place since the fourth quarter of 2017.
Tanzania and Ghana placed in third and fourth position respectively, with Tanzania jumping from fifth spot and Ghana dropping from second.
Nigeria moved from seventh position to fifth whilst South Africa fell from third to sixth place. Uganda has previously held eighth spot but has since hit seventh, and Cameroon has dropped from sixth to eighth.
“Amidst the relentless change the outlook for growth remains firm, but businesses have had to refine their focus on fewer countries,” Wingfield continued.
“What is increasingly evident is that in order to bring more certainty to their success, the consumer has to be at the centre of businesses’ current and future planning.”
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.