Business leaders told to form strategic partnerships to grow their firms
Mr Emmanuel Katongole, Chairman of Quality Chemicals while giving a key note address to participants during the top 100 mid- sized companies conference held in Kampala today. Photo by Alex Esagala
What you need to know:
- Giving a keynote address to over 100 companies at the Top 100 business conference held yesterday at Hotel Africana, the executive chairman of Quality Chemical Industries Limited, Mr Emmanuel Katongole said: “Partnership is the best way to go because it is a cheap way of raising capital for expansion, it leads to talent, leads to technological transfers from advanced countries to developing countries, and it leads to well-structured boards which provides strategic directions in company management.”
Business leaders in Uganda have been advised to form strategic partnerships locally and internationally to grow their business in a sustainable manner which is cost effective.
Giving a keynote address to over 100 companies at the Top 100 business conference held yesterday at Hotel Africana, the executive chairman of Quality Chemical Industries Limited, Mr Emmanuel Katongole said: “Partnership is the best way to go because it is a cheap way of raising capital for expansion, it leads to talent, leads to technological transfers from advanced countries to developing countries, and it leads to well-structured boards which provides strategic directions in company management.”
Mr Katongole advised business leaders to stop the habit of being a sole owner of their enterprises because it is risker and expensive to run a business when one is the manager of everything.
Mr Emmanuel Katongole(L), Cahirman of Quality Chemicals talks to Mr Jackson Muli(R), Chief Executive Officer, ICEA-life, ICEA Group ,during the top 100 mid sized companies conference in Kampala yesterday. PHOTO BY ALEX ESAGALA
The chief executive officer of Insurance Company of East Africa, Mr Jackson Muli advised business leaders to ensure that they insure their business.
“Businesses should be safe, they should safe guard what they have put in place through insurance. Insure your businesses today not tomorrow,” he said.
Presenting the findings of the survey for the Top 100 2016, Manager Audit KPMG, Mr Richard Walusimbi said 286 enterprises were surveyed and retail, construction and agriculture were the leading enterprises.
He also said that when it came to challenges facing the enterprises, businesses leaders complained of competition, high corporation tax, high interest rate, and fluctuating exchange rates among others.
This year 286 small medium enterprises are taking part in the Top 100 mid-size companies award competition compared to 250 last year.
Monitor Publications Ltd head of marketing, Sarah Nalule addresses participants during the top 100 mid sized companies conference in Kampala yesterday. PHOTO BY ALEX ESAGALA
The awards that were started in 2009 by the Monitor Publications Ltd (MPL) and audit firm KPMG seeks to create accountability and exposure for SMEs.
Ms Sarah Nalule the marketing manager at MPL said, the Top 100 initiative was started to support SMEs in Uganda through conducting forums and conferences in order to address the different problems faced.
On Friday the winners of Top 100 Enterprises will be announced during a gala dinner at Hotel Africana.
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