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Our Services

Risk Management

We assist organisations to identify, analyse, manage and/or exploit risks and to develop appropriate risk strategies and response plans. Our approach puts risk management at the heart of business strategy.

Corporate Intelligence

We conduct comprehensive integrity due diligence, background checks and screening of potential employees, third parties and business partners that empowers our clients to make informed choices.

Forensic Audits & Investigations

Our forensic engagements are conducted stealthily and covertly and are intelligence driven to ensure we uncover the truth efficiently, effectively and with minimal disruption to our clients.

Ethics & Accountability

We design, set-up, and implement accountability programs taking into consideration the complex and unique laws across multiple jurisdictions around the world that our clients have to comply with.

Monitoring & Assurance

We develop automated early warning systems and controls to detect suspicious activities and monitor trends in a way that ensures effective diagnosis,proper root causing, timely response and re-mediation from risks, threats and incidences.

Cyber Security & Forensic Technology

We conduct IT audits and cyber security engagements to identify vulnerabilities in systems, possible breaches and perpetrators. We utilize advanced forensic technology to image and analyze computers and mobile devices

About us

OVERVIEW

Stealth Africa Consulting LLP. (“Stealth”) is a consulting firm that provides world-class ethics and compliance, risk management and forensic advisory services. We aspire to be the leading provider of cutting-edge fit-for-purpose risk and integrity solutions in Africa.

OUR IDEOLOGY

We believe that the solution to Africa’s governance challenges is in developing clean and free enterprise by businesses themselves. To this end, we analyze business relationships, evaluate opportunities, manage risks, review business processes, investigate financial misconduct, assist in recovery of assets, provide support during litigation, build capacity and resilience within organizations.

"STEALTH"- WHAT'S IN OUR NAME

We know from our experience that the element of surprise is critical to success of most forensic engagements because most fraud perpetrators are constantly on guard and go to great lengths to conceal their irregularities, compromise or intimidate witnesses, disrupt investigations and destroy evidence. Our approach ensures minimal disruption to our clients’ businesses while ensuring that we uncover the truth. Our firm is christened “Stealth” after this approach.

OUR APPROACH TO RISKS

While the typical risk management approach can be quite theoretical and may focus on risks from a negative perspective, our approach is practical and ensures that our clients manage risks while being aware that risks and opportunities are two sides of the same coin. In today’s fast changing world where organizations seek to do more with less, risk management can be a competitive advantage. Our philosophy is that risk management is an enabler and not a hindrance to business opportunities.

Our Clients

We have served clients both locally and internationally in the following sectors:

Oil and Gas

Industry

Financial Services

Industry

Manufacturing

Industry

Non -Governmental

Organizations

Intergovernmental

Organisations

Hospitality

Industry

Technology

Industry

FMCG

Sector

Team Structure

We maintain an agile structure that allows us to manage several engagements with a lean team. We have a team of experts and work closely and collaboratively with client teams in a way that builds trust and confidence in our work.

Team Members Description of Roles
LEADERSHIP

Chief Executive

Overall in charge and responsible for directing engagements, ensuring quality work, managing teams and interfacing with clients directly regularly.
Male
EXPERT ADVISORS

Experts

Provide specific expertise in an area. They lead task teams in executing engagements.Support range of research and analysis tasks on topic areas
Male Female Male
Female Male Male
TASK TEAM

Principal Consultants

Senior Associates

Associates

Work collaboratively with client team members and conduct analysis, audits, reviews on a day to day basis and report to experts and leadership
Male Female Male Female
Female Male Female Male
SUPPORT

Administrators

Provide IT and administrative support to teams.
Male Female

Leadership

Anthony K. Ngige

C.E.O

Anthony is the Founder and Chief Executive of Stealth Africa Consulting LLP. He has close to 15 years experience in risk and compliance, forensic accounting and investigations. He worked for Standard Chartered Bank Finance Hub for East, Central and Southern Africa where he conducted risk assessments on finance systems and processes. He thereafter joined KPMG and conducted forensic and restructuring assignments in Eastern Africa before joining Safaricom Limited. At Safaricom, Anthony rose through the ranks in the Risk Division to lead the fraud detection and analysis team. In this role he developed early warning systems, processes and anti-fraud controls saving the company millions of shillings annually. Anthony was consistently named top talent in Safaricom before leaving to pursue further studies in UK.
During his time abroad, he developed business and risk strategies for several local enterprises under an initiative by GOAL Ireland in Latin America and developed fit-for-purpose anti-bribery and corruption, risk and compliance programs for GlaxoSmithKline (GSK) category teams in Europe. He also devised business and operational strategies for the largest global publisher, Pearson, based in London. Anthony has conducted assignments/ projects in Kenya, Uganda, Tanzania, Rwanda, Ethiopia, South Sudan, The Sudan (North), Tunisia, Madagascar, Democratic Republic of Congo, Cameroon, Nigeria, Ghana, Mozambique, South Africa, Honduras, Panama, Peru, Philippines, East Timor, UK, France, Germany, Italy and Switzerland.
Anthony holds a Bachelor of Commerce degree from University of Nairobi, Kenya, and a Master of Business Administration, Finance Concentration, from University of Cambridge, UK. At Cambridge, he was awarded the Tim Lee Prize for best student in strategy and earned several distinctions including one on Ethics and Governance. Anthony is also a Certified Public Accountant (Kenya), Certified Information Systems Auditor (USA), a Certified Fraud Examiner (USA), a Certified Questioned Document and Handwriting Expert and holds several other global certifications.

News

Stay updated with the latest news at Stealth Africa

Risk

Managing Fraud Risks Using An Effective Internal Control Framework

October 07, 2020 in Risk

The recently released Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations survey on occupational fraud (fraud committed by staff against their employers),  indicates that asset misappropriation had the highest number of reported employee fraud cases (88%) followed by corruption (56%). Increase in fraud incidences is largely due to organizations lacking a systematic approach to risks and issues. A robust internal control framework, such as the one we have highlighted below, enables companies to develop systems of internal controls that reduce risks, including fraud risks, while supporting sound governance in an organization: Line 1: Business Operations & Activities Employees conducting company business activities need to understand what is expected of them and are accountable for conducting business according to the written policies and procedures. Conventionally, this is known as the first line of defence. Assess risks as a starting point for building anti-fraud controls and other risk treatment strategies. Train staff to ensure they operate competently in whatever activity they undertake Functional managers should communicate the framework and encourage staff to quickly report non-compliance and breaches to procedures Functional monitoring should be done by managers who are risk owners who are accountable for the controls in their area. Business function should respond to issues arising out of deviations in activities and take corrective action in line with policy. Enforcement/ disciplinary action should be taken consistently and fairly on violations in line with disciplinary policy. All learnings should be documented and feed back in the internal control environment Line 2: Assurance, Risk Management, Compliance & Business Monitoring Risk Management, Fraud/ Forensic, IT Security, Business Monitoring or Compliance functions are accountable for ensuring an effective monitoring programme is in place in line with the various risks and in line with their mandates. Conventionally, this is known as the second line of defence. Line 3: Independent Internal Audit Internal Audit is accountable for providing independent and objective assurance on the effectiveness of the framework, internal controls, and all other functions in the business. Internal Audit should have specialized capabilities such as being able to conduct Information System (IS) Audits. Conventionally, this is known as the third line of defence. Line 4: Governance, Oversight, Business Ethics & Company Values Board and Management oversight should be organised and systematic and in line. The Ethics management programme & company values should provide the management tone-at-the-top for the whole organisation.   

Risk

The fraud triangle, fraud risks and anti-fraud measures during COVID-19

October 05, 2020 in Risk

It is clear that opportunities to commit fraud are higher now more than ever as new ways-of-working combined with unprecedented global financial challenges have put to the test the control environment in our institutions. We now have to contend with changing dynamics from a fraud perspective in the current operating environment. Below are some of the reasons that make organisations vulnerable during these times: Organizations have had to quickly adapt to working remotely and virtually in socially distanced environments presenting a heightened risk of identity theft, social engineering schemes, hacking and phishing schemes. Companies are cutting back on costs to keep their businesses afloat. This involves downsizing staff, contractors and third parties that form controls around the business weakening the control environment and providing opportunities for fraud. Funds in the form of advances, loans and subsidies are being injected into economies to fight the pandemic and cushion against its economic effects in governments and private sector, raising the risk of corruption and misappropriation of those funds. The fraud triangle is a model for explaining the factors that cause someone to commit fraud. Its elements are pressure, opportunity and rationalization. The increase in incidences of fraud, corruption and other unethical practices is our current reality can be explained in the context of the fraud triangle as explained below: 1. Pressure Pressure is a catalyst, incentive or need, real or perceived, that exerts financial or non-financial push for one to commit fraud. Some of the factors creating pressure as a result of the COVID -19 pandemic are: Monetary pressure: Job losses, pay cuts and staff being sent on unpaid leave has created financial pressure on employee’s personal financial position. Employees risk losing their jobs at any time, and this may create pressure on them to “take care of themselves” before the “axe falls”. Performance pressure: COVID-19 has made it difficult for some to meet agreed performance targets, which may lead to increased risk-taking, manipulation of results and performance metrics and/ or compromised quality standards. Workforce pressure: Job losses and reduced workforce mean that employees have more work to do but with fewer resources. Psychological Pressure: The pandemic presents a threat to life, personal health and safety leading to a sense of fear on employees as they live with the new reality that they could lose their lives at any time and leave loved ones in financial distress. Some reports have shown increased cases of insomnia and stress since the pandemic began.   2. Opportunity Opportunity is the ability or circumstances that provide the possibility for one to commit fraud. The following are some of the factors creating opportunities for fraud under COVID-19: Lack of processes and controls: Lack of proper controls and processes to deal with working remotely and virtually. For instance, lack of proper authentication to prevent identity theft, phishing and social engineering schemes. Reduced vigilance: Working remotely, virtually and in social isolation from home has led to boredom, lethargy and reduced productivity. This leads to reduced alertness and vigilance to prevent and detect fraud. Lack of technical capacity: Limited technical capacity and expertise in digital platforms and technology creates opportunities for fraud, particularly perpetrated by those with expertise in the area. Reduced manpower: Companies are using a skeleton workforce due to layoffs, cost-cutting and need to only maintain essential services to reduce exposure. This has led to a lack of segregation of duties and effective monitoring and supervision of business activities. Emergency situation and mindset: The current environment has created a sense of fear and rechannelled management focus to employee wellness leading to relaxed controls, eased compliance measures and the override of controls by those in authority. For instance, some financial services providers increased transaction limits to allow for easy access to funds. However, transactions limits, by frequency and amount, were a control to reduce loses due to fraud. COVID-19 themed frauds: Fraudsters have been presented with the perfect lure for all manner of COVID -19 themed attacks including emergency purchases, phishing schemes, Business Email Compromise (BEC), watering holes and other fraud scams.   3. Rationalization Rationalization is the self-justification that one is doing the right thing in committing a dishonest action. The following are some of the factors being used to justify fraud under COVID-19: Desperation, anxiety and uncertainty: Layoffs, pay cuts and adverse news on COVID-19 in the media may create a sense of anger, anxiety, desperation and uncertainty among some employees who have been working faithfully for their employers and now face a bleak future. “I will pay myself” and “deserved reward” excuse: One may justify misappropriating money under the guise that one has unjustly been given a pay cut or unpaid leave imagining that he/ she deserves to be paid the pre-COVID amount. “Others are doing it” justification: Some may read news of COVID-19 scams and corruption scandals and use this to self-justify that it is okay to do it as well because others are doing it. “I will pay it back”/ loan schemes: In this case, one justifies stealing in order to survive the pandemic and that they will pay it back mostly in-kind by, for instance “working harder” to repay the organization. However, as seen in fraud cases, this rarely happens. How can you manage fraud risks during the pandemic? Although there are many factors creating pressure, opportunity and rationalization during COVID-19, there are a number of measures that organizations with limited resources can apply to mitigate and minimize fraud risks, exposures and vulnerabilities. Some of these measures include: a. Fraud Risk Assessment and Anti-Fraud Diagnostics It is important for organizations to have a well co-ordinated organization-wide strategy in dealing with the fraud risks that have been amplified by COVID-19. As a starting point, there’s need to conduct a risk assessment and a diagnostic of all IT platforms, servers/ databases, interfaces, access points and configurations to determine the right anti-fraud controls that should be deployed. b. Fraud Risk Management Framework Subsequently, organizations need to implement or, if one is in place, update a fit-for-purpose anti-fraud framework/ policy that informs a systematic and holistic approach to respond to the risks and threats identified in the risk assessment and diagnostic. The fraud risk management framework needs to be built in line with the three lines of defence in the organization with written policies and procedures that are communicated to and understood by staff to know what is expected of them as far as fraud is concerned. Please see our Internal Control Framework as an example of a framework/ model organizations can adopt. c. System- Enforced Anti-Fraud Controls Organizations should consider automating controls as opposed to relying on “human” control measures. It is not possible for organizations to fully predict or even control human behaviour and their propensity to commit fraud. With increased job losses, human controls such as “maker-checker” may not be practical for all processes. It is, therefore, imperative that organizations look at system-enforced controls that ensure the integrity and authenticity of transactions. Transaction limits, multi-factor authentication such as 2FA, Role-Based Access Controls (RBAC), system-enforced password management among other controls will help reduce the opportunity for fraud. d. Technology-Driven Transaction Monitoring Teams that provide assurance, monitoring and oversight in organizations such as IT security, fraud/ forensic investigations, risk management, business monitoring, compliance and internal audit have to leverage technology now more than ever to monitor transactions for fraud red flags and suspicious activities.  With current and imminent staff layoffs and an increase in digital transactions, organizations will benefit from automated detective controls and use continuous monitoring tools. ACFE 2020 Report to the Nations highlights a gap in proactive data monitoring and analysis in sub-Saharan Africa which has been reported to be less common among anti-fraud controls, with only 31% of respondents/ organizations reporting using it. e. Training and Awareness There is need for adequate capacity building and training by those in assurance roles such as IT security, cybersecurity IS audit and forensic investigations to be able to adequately respond to incidences of fraud. These functions would be organised in line with the lines of defence in the organisation to ensure layers of protection to the business. Organisations should also raise awareness to customers, staff and third parties on risks, exposures and suspicious activities so that they do not fall prey to, for instance, social engineering schemes and phishing scams. Additionally, customers, staff and other stakeholders should also be encouraged to report fraud and other suspicious activities through safe and secure whistleblowing channels to enable the risk and fraud teams to pre-empt fraud attempts in good time. f. Open Communication Channels Companies need to set up effective communication channels for customers, staff and third parties to avoid misinformation, anxiety and fear. For instance, communicating to staff about measures to protect employees from adverse economic effects of the pandemic and recovery plans may reduce anxiety and create a renewed sense of purpose. Offering workplace counselling may also help address the psychological pressure that individuals are dealing with during these difficult times. g. Building Fraud Deterrence Mechanisms Fraud deterrence is the proactive identification and removal of the causal and enabling factors related to fraud and sending a strong message that the organization has robust controls and capabilities to identify and respond to fraud by internal or external parties. Deterrence also involves breaking the fraud triangle by  removing one or more of the elements in the fraud triangle in order to reduce the likelihood of fraudulent activities. Organisations should continuously review and monitor their internal control environment to identify and address fraud triangle factors. About the Author Anthony K. Ngige is the Founder and CEO of Stealth Africa Consulting LLP. He has close to 15 years experi­ence in risk management and compliance, audit and forensic services. He worked for Standard Char­tered Bank Finance Hub for East, Central and Southern Africa where he conducted risk assessments, and IT reviews finance systems and processes. After that, he joined KPMG and conducted audit, advisory and forensic assignments in Eastern Africa before joining Safaricom Limited, a telco that is a global leader in Digital Financial Services (DFS). At Safaricom, he led the forensic and fraud detection and analysis team and developed early warning systems, processes and anti-fraud controls, saving the company millions of dollars. Anthony has conducted risk and forensic engagements in over 25 countries in Africa, Asia and Latin America cutting across all industries He holds a Bachelor of Commerce degree from the University of Nairobi and an MBA (Finance) from University of Cambridge, UK. Anthony is also a Certified Public Accountant (Kenya), Certified In­formation Systems Auditor (USA), a Certified Fraud Examiner (USA) among other global certifications. About Stealth Africa Consulting LLP Stealth Africa Consulting LLP is an ISO certified risk, forensic and compliance firm that provides world-class consulting and advisory services with deep local knowledge. Some of the clients it has served include Safaricom PLC, IFC World Bank, VF Corporation (A fortune 500 Company),  EABL (Diageo), Tullow PLC, NCBA Bank Kenya, CIPE (An affiliate of US Chamber of Commerce), UN Global Compact, IFAD (a agency of the United Nations), Oxfam, Redcross, BRITAM and VIVO Energy to name but a few. You too can trust us to support you build an effective approach to manage fraud and other risks in your organisation.                                                                                  

Risk

Managing Third-Party Corruption Risk: The Case of Safaricom and Its Suppliers

September 03, 2020 in Risk

Center for International Private Enterprise (CIPE) in partnership with Stealth Africa developed a case study on managing Third-Party Corruption Risk: The case of Safaricom and its suppliers. Click here to read it.

Management

Stealth is ISO Certified

March 13, 2019 in Management

Stealth Africa Consulting LLP is now ISO certified under ISO 9001:2015. International Organization for Standardization (ISO) 9001:2015 is the most updated standard of its kind and focuses on quality management systems and performance. It helps companies in developing a management system that aligns quality with their business strategy. It helps organizations to apply risk based thinking in organizational processes that help improve efficiency, communication and implementation of continous improvement. At Stealth Africa we are committed to continuous improvement and customer satisfaction. This certification reflects our commitment to offer quality services to our clients. It is essential to delivering innovative, and quality services. Stealth Africa provides forensic audit and investigation, risk management, corporate intelligence services, and ethics and compliance training.

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