How is your business helping to solve the health, social, or economic challenges created by COVID19?
Tactive, in partnership with Imprint Africa, has built an Enterprise Risk Management System (ERMS) to support SMEs and Financing institutions in collating and/or accessing current data on risks being faced by SMEs during this period. The ERMS uses artificial intelligence in supporting SMEs to Access their risks and provides recommendations that support the businesses in developing Business Continuity Strategies. This automated Business Continuity Planning process is designed to mine customer insights in order to support/inform new offerings.The ERMS also uses machine learning (statistical techniques) to provide SME Lenders and(or) Investors with tools to adequately map risk and efficiently allocate resources, based on real-time data. The same data set can also be used to design scaled financial assistance interventions to counter the effects of COVID-19. Tactive has already built a minimum viable product that is currently being tested in Kenya & Uganda, by SMEs & Business Development Services institutions towards preserving the value they have created in their ecosystems in light of the COVID-19 pandemic.
Does your business contribute most to recovery, response, or resilience?
Response - we're responding directly to issues caused or exacerbated by the COVID-19 outbreak.
What is the stage of your product development?
I have a market-ready product/service. I could sell it to customers
What strengths does your team bring? Include skills and personal experience with the problem.
In 2016, SOKO had achieved a threshold of over one million US dollars in revenue and was anticipating continued double-digit growth that year. What was unforeseen, however, was the political turbulence in the wake of the 2017 election year, which led to a slump in the country’s economic growth.With minimal experience in Business Continuity Planning (BCP) frameworks, Tactive's Co-founder and Senior Partner (then SOKO MD) attempted to plan for the anticipated disruption of the SOKO value chain. The biggest concern was that all production capacity was located in developing settlements, namely Kibera, Dandora, and Rongai. Using the BCP frameworks, the team was able to develop a plan that didn’t just mitigate Revenue Loss, Capacity Loss, and Product Loss. It also allowed the business to maintain double-digit growth in the following year (2017) despite the country having to go into a second election less than 60 days later. Unfortunately, a large number of businesses weren’t as fortunate, with many of them closing or suffering huge losses. Through that experience and many others, Tactive has developed practical BCP tools that we believe would be of value to SMEs in supporting them towards ensuring Business continuity during this time.
What countries do you operate in?
Tactive is based in Kenya. We have however served businesses within East Africa, including Uganda and Rwanda.
Is your company headquartered in a US "Opportunity Zone"?
No
