May 19, 2020

Tobacco regulations expected to slow down revenue in Kenya

kenya
Tobacco
revenue
professo
2 min
Tobacco regulations expected to slow down revenue in Kenya

Following the enforcement of stricter tobacco regulations, it is expected that Kenya’s tobacco firm’s revenue will suffer slow growth.

Genghis Capital Investment Bank, a Trading Participant in the Nairobi Securities Exchange (NSE), has analysed the East African industry.

According to Gerald Muriuki, a Genghis analyst, stock now retains a downside of 16.7% on the current trading price of Sh800 (US$7.76).

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The regulations are subsequent to British American Tobacco’s (BAT) court battle that ended with BAT bring a 2% levy on the value of manufactured or imported tobacco products in the control fund.

The tobacco control fund aims to compensate those affected by the product, as well as funding public education on the effects of tobacco.

“Increased anti-smoking lobbying, worldwide push against tobacco use points to an industry under increased pressure on the growth frontier…in the medium term, as the laws come into force we expect local sales to slow at a fairly steady three-year compound annual growth rate of -0.6 per cent,” Mr Muriuki stated in a report published last week.

“The ban on sale of single sticks will be a drag on affordability, while a ban on public smoking and health campaigns will see a smaller percentage of future population engage in smoking due to lower exposure and growing health awareness.”

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Jun 14, 2021

5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly

Tapoly
Insurance
Leadership
Digital
Kate Birch
3 min
Heading up Europe’s first on-demand insurance platform for the gig economy, Janthana Kaenprakhamroy is winning awards and leading with diversity

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.

 

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