Kenya has been ranked third in Africa and 59 globally in a study on readiness for change in terms of ability to manage risks that come with shocks such as natural disasters, financial or social stability.
The other risks contemplated under the ranking, carried out by audit and financial advisory firm KPMG, are economic and political opportunities as well as changes in demographics, technology and government.
In Africa only Mauritius and Namibia are ahead of Kenya in the ranking. Other countries that are in the top 10 in Africa in the roll are Morocco, Tunisia, Rwanda, Ghana, Botswana, Egypt and Cote d’Ivoire. Globally the countries in the index that lead are mainly in Europe, indicating that they are the best in being ready for risks involved in change.
The overall ranking index combines an index of enterprise, government, and people and civil society. KPMG says the index can be used to inform investment decisions by highlighting the strengths and weaknesses of target countries.
“A wide range of organisations can apply the data and insights from the CRI (change ready index to inform investment decisions by highlighting the strengths and weaknesses of target countries; improve government policy by benchmarking national strengths and weaknesses and identifying areas in need of reform,” the report says.
“The index can also help build leading practices by stimulating debate on change readiness and learning from higher-ranking countries; identify potential public and private sector partnerships by pinpointing areas to match capabilities and resources with highest priority needs,” it adds.
Enterprise capability relates to the ability of State-owned organisations to manage change, government capability is the ability of state and public regulatory institutions to manage and influence change, and people and civil society capability has to do with the ability of individual citizens to cope with change and respond to opportunities.
Source: Business Daily Newspaper.