Monitor, KPMG launch 2017 Top 100 Business Survey

Left to right: Ms Yogi Birigwa, the South African Airways country manager, Mr William Sekabembe, the executive director dfcu Bank, Mr Tony Glencross, the Monitor Publications managing director, Mr Benson Ndung’u, the KPMG country manager and Jackson Muli, the chief executive officer of ICEA General Insurance display the theme and sponsors during the launch of the 2017 survey at in Kampala on Tuesday. PHOTO BY STEPHEN OTAGE.

KAMPALA- The 9th edition of the Top 100 Mid-sized Companies’ Survey will commence today with the aim of ensuring businesses stay ahead of a changing economic environment.
The annual survey, launched in 2009 by both Daily Monitor and KPMG, targets mid-sized companies with an annual turnover of Shs360m to Shs25 billion, with three years of audited accounts.

Speaking during the launch of the 2017 survey at dfcu Bank headquarters in Kampala on Tuesday, Mr Tony Glencross, the Monitor Publications Limited managing director, told journalists that entrepreneurs need skills that will grow their companies.
“At Daily Monitor, we are always looking at adding value to our readers through our various products by giving them an opportunity to make better management decisions and grow their companies,” he said.

Mid-sized companies make up one of the market segments in Uganda, with estimates placing them at more than 50 per cent of all entities within the economy. However, some of the companies suffer governance issues and also bear the brunt high and expensive capital for business growth.
“What we have seen for the last nine years of the survey is that companies that participate have improved their governance, managed to secure better financing options, improved their risk management and built sustainability,” said Mr Benson Ndungu’u, the KPMG Uganda country leader, said.
The theme for this year’s survey is: ‘Staying ahead of the competition in the evolving economic environment’.

Also in 2017, dfcu Bank has joined South African Airways and the ICEA Group as sponsors of the event.
“dfcu Bank has a long history in growing the SME sector. SMEs have a lot of challenges and we are aware they don’t have access to capital,” Mr William Sekabembe, the dfcu Bank executive director, said.
He added: “Our belief is that this initiative will go a long way in boosting the skillset of the selected companies, eventually translating into improved business practices and increased profitability.”
In the 2016 edition, 286 enterprises took part in the survey with agriculture, retail and construction dominating the sectors.

Ms Aidah Nalwadda of African Queen Distributors, a previous participant in the survey, revealed that “after the survey, we were able to attract good talent and improve governance.”
The results of this year’s survey are expected in November.