Mbaya & Associates Financial Advisory Firm: Michael Mbaya Talks Business Operations and Strategy

In this interview, Michael Mbaya offers a detailed overview of Mbaya & Associates’ business operations and strategic focus. Established in Kenya in 1979, Mbaya & Associates was one of the first indigenous financial advisory firms in the country, providing services such as financial audits, taxation, and outsourced accounting. Michael discusses the firm’s competitive edge in integrating technology into client operations, the growing importance of sustainability reporting, and how the firm is leveraging technological advancements to drive future growth.

Interview with Michael Mbaya, Managing Partner and CEO at Mbaya & Associates

Can you give us an overview and background of Mbaya & Associates and highlight its operations?

Mbaya & Associates is a financial advisory firm that has been in Kenya since 1979. We were one of the first indigenous firms to be founded in the country, and we take a lot of pride in that. We offer a range of services, including financial audits, taxation services where we help our clients with their tax positions, and outsourced accounting services. This last element of our business has grown significantly as more people opt to leave their accounting needs to professionals, allowing them to focus on other aspects of their business.

What is your competitive advantage? Can you elaborate on what sets Mbaya & Associates apart from the competition?

One of the things we have been able to help our clients with is transitioning their operations to become tech-based. Technology brings various efficiencies, insights, and growth opportunities. We have pushed the needle in that direction for many of our clients, and this has helped them become more efficient in their operations, better prepared for the future, and capable of scaling up their businesses to levels they had not previously achieved.

Can you talk about sustainability reporting, and perhaps elaborate on its significance?

Sustainability reporting, I would not call it a new concept, but it is certainly gaining momentum worldwide. For a long time, companies did not know how to report on this aspect, but now sustainability reporting frameworks have been developed. Our task is to help companies, especially large ones, implement these frameworks. However, we also aim to extend this practice to smaller companies so that sustainability becomes a key consideration for all businesses from the start. This leadership involves guiding companies on how to effectively report their sustainability efforts, benchmark themselves against others globally, and align with their own goals. Sustainability reporting is becoming one of the foremost tools for companies to consider in their business growth and budgeting strategies.

In particular, can you give us an idea of how the reporting is done? What exactly are the features and indicators involved?

There are various metrics we look into, such as the supply chain. While a company may be good at ensuring its own sustainability, we also examine whether its supply chain upholds the same values. This means assessing and potentially educating about the importance of sustainability. This approach helps spread the message beyond just the company to its suppliers and business partners. It is a very practical way to expand a company’s impact on society. So, for a company, it starts with those you do business with.

For companies engaging in sustainability reporting, are there any direct benefits, such as tax rebates or similar incentives?

Not at the moment. There have not been any tax incentives to encourage companies in that direction. However, we all have a responsibility to protect the environment and ensure we use resources sustainably. This is becoming increasingly important to the public, who prefer to engage with responsible companies. We have seen the dangers of climate change, especially on this continent, and it is time to act. So this offers companies the opportunity to start playing their part, even in small ways, to ensure that they are sustainable.

Could you provide specific details on how Mbaya & Associates is leveraging technology, particularly in terms of future business strategies?

We have been a tech-based company for a long time. We have a department dedicated to examining how business will evolve in three to five years and preparing both ourselves and our clients for those changes. Sometimes, we have to create the path ourselves, pushing the frontiers to set an example for others. We are exploring how to use AI with various clients to help them grow their businesses, identify new opportunities, and optimize operations. This includes automating tasks that can be machine-handled to save time and resources. We are working on this with several teams, and it is an exciting project that shows how business can be transformed in the future. For us, this focus on the future is constant. We are always looking at how business is being transformed and how the continent is changing. Our goal is to ensure that our clients are not left behind but are at the cutting edge of technology, enabling them to grow and expand their businesses.

Looking ahead over the next three to five years, what strategic initiatives and milestones is Mbaya & Associates aiming to achieve to drive growth and enhance overall impact?

For us, we remain a highly client-centric firm, focusing on both current and future client needs. Ensuring our clients’ sustainability, profitability, and positive impact on society is crucial. As long as they thrive, grow, and improve, we can provide opportunities for the broader population on this continent, enabling them to secure jobs, pursue opportunities, and become responsible citizens.

ABOUT MBAYA & ASSOCIATES: Founded in 1979, Mbaya & Associates is a dynamic business advisory firm committed to delivering outstanding financial solutions tailored to meet client expectations. The firm is a proud member of GMN International, an association of legally independent accounting firms. Through this association, Mbaya & Associates has expanded its global reach via an extensive network of carefully selected firms within GMN International.

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