Course View Company has been named as the number one top midsize firm in the country at ceremony on Friday night at Serena Hotel in Kampala.
Two more companies, namely the Graphic Systems and Africa Poly Sack Industries were also graduated to club 101—meaning they have surpassed the Shs25 billion threshold that is the yardstick for rating the top 100 midsize companies.
Club 101 is a special grouping of former Top 100 (small and medium enterprises) SMEs companies who have surpassed the entry criteria and are now ready to serve as role models and mentors for the upcoming Top 100 companies.
Scooping the second position was the White Horse Ltd and sitting on the third slot was Quality Chemicals. The Top 100 midsize companies were selected from hundreds of applications from thousands of midsize companies across the country.
The survey is a brainchild of the Monitor Publications and KPMG, an international advisory firm. It was done in partnership with Stanbic Bank Uganda and Sage Pastel, the regional IT partner.
Other awards of the night included the rural champion award that went to Banyankole Kweterana Cooperative, Working Capital Management award that was scooped by Quality Chemicals. Multitech Business School won the Revenue Growth award, while Force View Ltd took the Value Champion award and Ms Dorren Mwesigye won the Woman Entrepreneur award.
The Prime Minister, Mr Amama Mbabazi, who was the chief guest, said government is committed to helping the SMEs given their contribution in poverty eradication and job creation.
Finance Minister Maria Kiwanuka said SMEs are the engine of the country’s economy and government would enable the private sector to thrive. “We will continue to support the SMEs to move from small to medium enterprises. As government, we shall do this by lowering the cost of doing business,” Ms Kiwanuka said.
The KPMG Country Manager, Mr Benson Ndunga, said cost of credit, governance structure, and branding are some of the other challenges that SMEs are still grappling with. And coupled with corruption, lack of technology and dealing with frustrating government bureaucrats—means that much needs to be done to make the environment conducive for SMEs to thrive.
The Monitor Publication Managing Director, Alex Asiimwe noted that the rate at which SMEs wind up business is alarming and urged that a prescription to curb the “high mortality rate” be diagnosed. “It is important that the trend (rate at which business die) be reversed,” said the Monitor MD.