Importance of Security in the Economy?

The security sector comprises all institutions and other entities with a role in ensuring the security of the state and its people. While some institutions focus on delivering security and justice services, equally important are those that focus on governance, oversight, and management.

Security has played a very vital role in the Kenyan Society It focuses on prevention and detection of crime, the maintenance of public order, and protection of property and the population.

Security is divided in segment like the others focus on national security like security under boarder management they focus on the rules and procedures regulating activities and traffic across defined border areas. • Their task is the prevention of unlawful cross-border activities, the detection of national security threats, and the control of persons and vehicles at designated border-crossing points.

Its contribution to the economy of Kenya and to the Africa region?

In 2021, the ratio of military expenditure to gross domestic product (GDP) in Kenya remained nearly unchanged at around 1.12%. Military expenditure figures refer to the amount of money spent on a country's armed forces, including peacekeeping and defense operations, among others.

Security companies that have vast growth in Kenya in the period under review such as G4S, and Wells Fargo are thought to have employed all or a combination of good corporate governance, leadership and strategic management skills coupled with diversification of service provision. Today, good corporate governance is no longer an option but a benchmark,

Role of Security in the Sector: Population/Economy/Family

Security plays different roles in different areas in our country hence enhancing peace and wellbeing of Kenyan population.

One of the roles of security in population, It helps in protecting the country from external and internal threats, fights against crime, promotes businesses and economic growth for instance it promotes tourism, strengthens relationships between countries and helps in the event of a pandemic.

Some of the security sectors, Armed forces/Military - The primary function of this sector is to protect and defend the state and its population from foreign aggression. Some also participate in international peace operations.

Security Challenges: are the corporate governance, strategy, succession challenges faced by these companies

  •  Succession planning, it can be difficult to agree on who should take over the business. If there are multiple family members who are interested in taking over, it can be hard to come to a consensus. This can often lead to conflict and disagreements within the family.
  • person who takes over the business may not have the same vision or understanding of the business as the previous owner and this is caused by lack of preparation of next generation. This can lead to some bumps in the road as they try to implement their own ideas and strategies. It's important to have open communication and discussion between the generations to make sure everyone is on the same page

 Industry Association:

The desire to maintain family identity and reputation for generations, as well as the transmission of knowledge, is a distinctive in health sector this can be fulfilled through IFFB coaching session.

Some of the sectors that IFFB has partnered with is Kenya Security Industry Association We work closely to ensure proper governance and strategic management and execution conflict management and resolution practice are implemented.

Some Sector Clients we have Partners to support.: