Nairobi, Kenya
Kenyan financial sector is set for major overhaul following the entry of Erafinancials, a research platform that analyses matters of taxation rates, money supply as well as inflation in the market.
Launched last month by Escrow Research and Analytics Limited, a financial market, research and advisory firm, the tool offers users specific research services, conducts analysis and offer outsourced corporate finance advisory services.
Being a member of the El Escrow International Group of companies, the platform has an edge in the financial service sector through the utilization of modern edge technology. Erafinancials gives historical database and this will help stakeholders in developing plans and strategies on manipulating the information to predict future outcomes and make substantial gains.
The platform has been collecting data for the past ten years on all companies listed in the Nairobi Securities Exchange and integrates modern mathematical formulas used for enabling advanced analysis and forecasting.
“The company developed the system to address a huge gap in structured economic and corporate information that can be analyzed to aid in making strategic policy decisions”, said the company’s Chief Executive Officer, Mr Collen Tapfumaneyi .
“We have invested Kshs. 20 million on this platform which will be accessed as a subscription service although a significant amount of information will be available at no charge”, added Tapfumaneyi.
This new development will give policymakers, managers, securities and economic analysts a reason to smile as the financial market will be easily controlled with the right decisions made.
“Erafinancials will bridge the gap by bringing all the data in one location and integrating time series techniques to enable policy makers, stock market and economic analysts perform regression and correlation trend analyses that typically enable forecasting”, he stated.
The practice of forecasting is widely used in advanced economies to give investors and policymakers possible directions on share prices and economic indicators such as inflation and interest rates.
With Kenya competing for international capital, Erafinancials will provide useful information and analysis that presents country data to international investors in various parameters.
The writer is a Mass Communication Student, Multimedia University.
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