By Kepher Otieno - Reporter
Kenya, December 19 2025 - Calls for continuous academic advancement and stronger corporate governance in emerging markets took centre stage during the launch of a new business and finance book at Kisii University, highlighting the growing link between higher education and national economic transformation.
Speaking at the event, Maseno University Council Chairman Prof. Omollo Ongati challenged first degree holders to pursue further training, arguing that academic growth should not end with graduation or even the attainment of a doctorate.
“A first degree is no longer enough, and even being conferred with a doctorate should not mark the end of learning. The world is changing fast and professionals must continue advancing their skills to remain relevant,” Prof. Angati said.
He made the remarks during the celebration of Dr Jim Akali, who recently graduated with a Doctor of Philosophy in Business Administration (Finance option)from Kisii University and launched his book, Financing and Governing Growth Strategies for Driving Performance in Emerging Markets Firms.
Prof. Ongati noted that universities have a responsibility to produce graduates who can respond to complex economic and governance challenges, especially in developing economies where institutions remain fragile.
“Higher education must go beyond certificates. It must equip learners with practical knowledge that can help transform organizations and communities,” he added.
Dr Akali’s book seeks to address this gap by examining how sound financing decisions and effective corporate governance can enhance firm performance in emerging markets.
According to Dr Akali, his academic journey reinforced the need for resilience and purpose in education.
“Going through a PhD programme taught me that education requires resilience and determination. While it helps individuals achieve their personal goals, academic success is also a community achievement,” he said.
He explained that the book is intended to serve as a resource for business and finance students, policymakers, and practitioners particularly in environments where poor financial management has led to corporate collapse.
Dr Akali cited several high-profile business failures in Kenya as evidence of the cost of weak governance structures.
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“We have seen companies like Nakumatt, Tuskys Supermarket, Mumias Sugar Company, and several firms delisted from the Nairobi Securities Exchange collapse because financial decisions were not properly made and corporate governance failed,” he said.
He also referenced the challenges previously faced by Kenya Airways, which at one point required government intervention to stay afloat.
“These examples raise a critical question: can we come up with strategies that can drive performance in emerging markets? That is the essence of this book,” Dr Akali noted.
The discussion was further linked to the government’s Bottom-Up Economic Transformation Agenda, which emphasizes enterprise growth, innovation, and inclusive development. Dr Akali argued that policy frameworks alone are not sufficient without innovative thinking and practical strategies at firm level.
“Economic transformation requires more than just reading books. People must be creative and embrace advanced technology to cope with the speed of change in today’s world,” he said.
While applauding the President’s economic vision, Dr Akali stressed the importance of laying clear strategies to ensure sustainable success.
“The agenda is commendable, but strategies must be put in place to turn that vision into reality. Without a firm foundation, the dream cannot be realized,” he said.
The event, attended by academics and university administrators, including Dr Caleb Akuku Professor Christopher Ngacho, and Dr Francis Nyarombe, underscored the growing role of scholarship in addressing real-world economic and governance challenges in emerging markets.
As Kenya pushes for economic growth driven by innovation and sound management, the conversation at Kisii University highlighted the need for lifelong learning and evidence-based strategies to support sustainable development.
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