The 2014 top 100 mid-sized companies’ search in Kenya has started in earnest, with Thursday’s launch in Mombasa.
The
event brought together local entrepreneurs and business leaders at
Mombasa Serena Hotel. It is the first in a series that seeks to increase
participation from outside Nairobi.
Nation Media Group
chief operating officer Tom Mshindi said participating in the annual
competition of Kenya’s fastest-growing mid-sized companies was critical
to business process improvement that ultimately help mid-sized firms
gain access to new sources of financing and acquire new partners to move
to the big league.
“We have come here to encourage you
to participate in this survey because it sets you on the road to
gaining competencies you need to step ahead of the competition and grow
into the corporate league,” he said.
The Top 100
mid–sized survey is open to firms with a turnover of between Sh70
million and Sh1 billion. Those that cross the Sh1 billion mark join Club
101.
Winners of this year’s survey will be invited to
an exclusive Top Mid-sized companies conference on October 9 and a gala
dinner the next day.
Mr Robert Onyango, KPMG Top 100
project manager for East Africa, said KPMG and Nation Media Group
support the search because it celebrates entrepreneurs who have proved
that free or private enterprise is the dynamic force behind innovation
and economic growth.
“Our hope is that this platform
will inspire many more entrepreneurs; that it will provide a platform
for learning, and, above all, that every single entrepreneur in Kenya
can expect to be applauded for their contribution to transformation of
the economy,” Mr Onyango said.
Participating companies
are assessed on core financial parameters including revenue, cashflow
and debt, as well as non-financial indicators such as staff
satisfaction.
Mr Mshindi said the survey provides
participants with insights into market dynamics, industry benchmarks,
human resource development, business confidence, future expectations and
possible obstacles to growth.
The survey identifies
Kenya’s fastest growing medium-sized companies to showcase business
excellence and highlight some of the most successful entrepreneurship
stories.
“We strongly believe there is a need to
celebrate the entrepreneurs who have contributed to wealth and job
creation. Our intention, therefore, is that new role models and national
heroes will emerge from this process,” Mr Onyango added.
This year’s participants also have a chance to enter a competition to win an iPad.
Kenya
Suitcases Manufacturing Ltd managing director Saylesh Shah said
participating in the Top 100 Mid-Sized companies survey had helped his
firm improve its standing among financiers, suppliers and partners.
Another
past participant, Ms Jane Macharia-Gituto of Shian Travel, said taking
part in the Top 100 survey had helped her improve her systems, allowing
her to make the leap from position 104 to four in a span of two years.
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