This archive report was first published on 3 October 2019.
On October 2, 2019, Standard Group CEO Orlando Lyomu officially opened the Institute of Certified Accountants of Kenya (ICPAK) 2nd Annual Leadership Convention at the Sarova Whitesands Beach Resort in Mombasa.
Lyomu emphasized the need for businesses to adapt to the changing environment, citing the recent shutdown of betting firms as an example of the adverse effects of unpredictable policies.
“We are operating in a totally different environment compared to last year because of increased digital disruption and regulation challenges,” Lyomu said.
He noted that due to digital technologies, corporate firms would have to change from traditional ways of business or risk going under, citing the example of Thomas Cook Group, which existed for over 178 years but was unable to survive due to digital technologies.
Lyomu stated that Standard Group had invested in technology by partnering with e-commerce application developers and creating a convergence system to enhance news coverage.
He also highlighted the importance of diversity and convergence in serving the increasingly diverse audience, and mentioned that Standard Group was partnering with BBC and local small IT system application developers to disseminate news and information to targeted audiences.
Accountants from the Institute of Certified Public Accountants of Kenya (ICPAK) were in Mombasa for a three-day convention, where they deliberated on how firms could survive in the current complex environment.
