Money Markets
US Ambassador to Kenya Robert F. Godec. The United States said it would
move some of its diplomats out of Kenya and has banned all embassy staff
from travelling to the coastal region. Photo/FIL
By Charles Mwaniki
In Summary
- AMI, a for-profit social enterprise established in 2012, has trained 1,000 managers in 25 countries.
Executives trainer African Management Initiative
(AMI) has received Sh66 million ($750,000) in convertible debt from two
organisations for setting up a web and mobile instruction service.
The funding from Canadian Lundin Foundation and South African Isibindi Trust will help AMI set up the platform from next month.
“We want to develop one million effective and
responsible African managers for Africa’s growth and development by
2023. There is a gap that needs to be filled through accessible learning
tools that embrace the digital space,” AMI chairman Jonathan Cook said.
Mr Cook said the online platform would help the institute reach up to 20,000 trainees this year.
Funding bodies
AMI, a for-profit social enterprise established in
2012, has trained 1,000 managers in 25 countries. It offers training in
Kenya through Strathmore Business School. Other centres include South
Africa’s Pretoria-based Gordon Institute of Business Science (GIBS) and
Nigeria’s Lagos Business School.
AMI plans to offer a free basic course online with a
more advanced course costing from Sh2,200 ($25). The courses offered by
the institute target entrepreneurs and small business owners as well as
medium and junior managers.
The SME sector has been growing in Africa, with
lenders and other funding bodies lining up more of their lending outlay
towards the sector. In the financial year ended December 2013, SMEs were
the main loan consumers at Equity bank, taking up 46 per cent of the
bank’s loans or Sh81.5 billion.
A recent study by KCA and Makerere universities and
consultancy firm Pipal Ltd found that 60 per cent of small and medium
size enterprises fail within one year of startup, mainly due to
management and leadership issues.
“Access to risk capital is no longer the primary
constraint limiting SME development in Sub-Saharan Africa. Instead, it
is management capacity,” said Lundin Foundation MD Stephen Nairne.
A report released by consultancy firm Ernest &
Young in May said that the growth of foreign investment inflows to Kenya
has been one of the fastest in sub-Sahara Africa, and is only second to
Ghana’s.
The country’s FDI average growth between 2007 and
2013 was 40 per cent while Ghana’s stood at over 50 per cent in the same
period.
cmwaniki@ke.nationmedia.com
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