Help Kenya grow, KPMG urges companies

KPMG CEO Josphat Mwaura (centre) and his Nation Media Group counterpart Joe Muganda (right) have a word with Professional Clean Care founder and managing director Betty Wanyoike at Nation Centre in Nairobi on May 17, 2016 at the official launch of the Top 100 Mid-Sized Companies Survey 2016/17. PHOTO | JEFF ANGOTE | NATION MEDIA GROUP

What you need to know:

  • Call comes after opposition demand for disbandment of IEBC disrupted business for past three Mondays.

Business leaders should speak out whenever political disagreements threaten economic stability, the chief executive of KPMG, Josphat Mwaura has said.

“We cannot sit back when anyone disrupts the business environment that makes it impossible to open our businesses tomorrow,” said Mr Mwaura yesterday during launch of this year’s Top 100 small and medium enterprises survey at the Nation Centre in Nairobi.

“In 2007 our voice was nowhere as we sat back hoping the political upheavals would pass away and spare our business. We were wrong and never again should the leadership in business remain mute when all is not well. It is the government’s responsibility to ensure that the environment not only accommodates businesses but lures more entrepreneurs to invest money into different enterprises,” he added.

His call comes after opposition demand for disbandment of the Independent Electoral and Boundaries Commission disrupted business for the past three Mondays.

CONDUCIVE ENVIRONMENT

The KPMG boss said the only way to address the unemployment problem is by providing a conducive environment for businesses to thrive, expand and open more branches that require more staff and raw materials.

He challenged the political leadership to look at effective ways of enabling businesses adding that generation of more jobs would sustain economic growth.

The annual Top 100 SMEs survey, which is sponsored by the Nation Media Group’s Business Daily newspaper and financial consulting firm KPMG, evaluates entries by companies with a turnover of between Sh70 million and Sh1 billion.

The competing firms have to provide three-year audited accounts to the survey judges.

Banks and Nairobi Securities Exchange-listed firms are not allowed to enter the competition.

The Nation Media Group chief executive Joe Muganda said the Top 100 SMEs survey seeks to create a ready platform for global investors to identify companies that they could buy into and build networks that enable homegrown companies to flourish.

“The mid-sized companies are an important segment in entrepreneurship and our main focus is to give them a platform that enables them to lobby for a better environment to operate in for posterity. We support mid-sized companies to fast-track their growth for more jobs to be created and hence a prosperous East Africa,” said Mr Muganda.