DTB and Safaricom in as firms survey begins

The seventh edition of the Top 100 mid-sized companies survey was launched yesterday opening the way for submissions of entries with winners due to be announced in October.

The survey, a joint initiative between the Nation Media Group and audit firm KPMG, identifies fast growing mid-sized firms that have an annual turnover of between Sh70 million and Sh1 billion.

It is expected to be more vigorous this year following the entry of two firms into the top tier list of sponsors. The move has raised support from last year’s Sh16 million to Sh30 million.

PLATINUM SPONSOR

Diamond Trust Bank is now the platinum sponsor while Safaricom is the gold sponsor of the regional flagship survey. They committed Sh10 million and Sh8 million respectively.

DTB Group chief executive, Ms Nasim Devji, said she wants to support growth of small companies just like the bank grew from a five branch institution and today boasts of 1,000 outlets region-wide.

“SMEs have great potential, they only face barriers such as lack of record keeping, which locks them out of financial support,” said Ms Devji.

Safaricom, on the other hand, expressed enthusiasm in joining the sponsorship adding that small companies are the future of economic growth.

“They have helped grow Safaricom through great innovations; they will push this country to a middle income economy,” said Ms Sylvia Mulinge, general manager Safaricom Enterprise.

MORE SPONSORS

Other sponsors backing the initiative are UAP a last year entrant with a commitment of Sh3 million. Regular backers are Sage Pastel (Sh6 million), the Nairobi Securities Exchange (Sh3 million) and Strathmore Business School which is the training sponsor.

KPMG project director, Mr Robert Onyango, said DTB and Safaricom won the positions after stiff competition from companies that were also eying the key sponsorship positions.

“The survey has grown since inception in 2008; we are launching a campaign that will double the participation from 250 to 500,” said Mr Onyango.

Nation Media Group chief executive, Mr Linus Gitahi, confirmed that the survey now has a presence in four countries, Kenya, Uganda, Tanzania and Rwanda. “We are catching up in Rwanda where we are in our third year.”

Sponsors are keen on growing the study to greater heights. UAP general manager, Mr Jerim Otieno, said they will help SMEs mitigate risks as they grow.

NSE boss, Mr Peter Mwangi, promised to add capital raising avenues to make finance accessible to such companies.

Strathmore Business School academic director-executive education, Mr Paul Ouma, said they have set up two categories of training programmes for the SMEs. “The bigger they grow, the better they become, we train them for the best,” he said.