Money Markets
Representatives of different firms follow proceedings during the launch
of Kenya Top 100 Mid-Sized Companies Award last Friday. Kevin Odit
By BOZO JENJE and WACHIRA MWANGI
In Summary
- The event, which brought together local entrepreneurs and business leaders at the Mombasa Serena Hotel, is the first in a series that seeks to increase participation from outside Nairobi.
- Robert Onyango, the KPMG Top 100 project manager for East Africa, said the operational and financial fitness that comes with participating in the survey is critical to accessing banks and suppliers as well as expansion.
The 2014 Kenya Top 100 mid-sized companies’ campaign started in earnest with last Thursday’s activation event in Mombasa.
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The event, which brought together local entrepreneurs and
business leaders at the Mombasa Serena Hotel, is the first in a series
that seeks to increase participation from outside Nairobi.
Tom Mshindi, the Nation Media Group
chief operating officer, said participating in the annual competition
of Kenya’s fastest-growing mid-sized companies was critical to business
process improvement that ultimately helps the firms gain access to new
sources of financing and acquire new partners they need 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.
Mr Mshindi said it was not sustainable that
Nairobi-based firms be left to dominate the competition when there are
many great mid-sized companies throughout the country. Participating
companies are assessed on core financial parameters, including revenue,
cash flow and debt levels as well as non-financial indicators such as
staff satisfaction.
Mr Mshindi said the survey provides participants
with insights into the market dynamics, industry benchmarks, human
resource development, business confidence, expectations and possible
obstacles to growth.
Robert Onyango, the KPMG Top 100 project manager
for East Africa, said the operational and financial fitness that comes
with participating in the survey is critical to accessing banks and
suppliers as well as expansion.
“The benefits for participating companies include
receipt of industry-specific reports that provides market metrics and
benchmarks for performance indicators for mid-sized companies, the
sector and performance feedback,” he said.
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 that there is a need to
celebrate the entrepreneurs who have contributed to wealth and job
creation. New role models and national heroes will emerge from this
process,” 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 the exclusive Top Mid-sized companies conference on October 9
and a gala dinner the next day.
Mr Onyango said KPMG and the Nation Media Group
supported the initiative because it celebrates entrepreneurs who have
continuously proved that free or private enterprise is the dynamic force
behind innovation and economic growth.
“Our hope is that this platform will provide a
platform for learning and, above all, that every single entrepreneur in
Kenya can expect to be applauded for their contribution to the
transformation of the economy.”
This year’s participants will also enter a competition to win an iPad.
bjenje@ke.nationmedia.com
bwachira@ke.nationmedia.com
bwachira@ke.nationmedia.com
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