Economy

Diamond Trust Bank starts innovation forums for SMEs

STAFF

DTB staff follow proceedings during a recent press conference. PHOTO | DIANA NGILA

DTB Group has provided a platform for small and medium-sized enterprises to interact and share growth-promoting practices.

The firm on Thursday convened its first meeting with about 40 enterprises from across sectors to explore innovative ways of boosting cash-flow and inculcating values.

DTB chief executive Nasim Devji, citing the firm’s humble beginnings, pointed out that every successful business had a solid value system hence the need to cultivate a set of values.

“A successful company strives to meet excellence, integrity, meritocracy, customer focus and progressiveness — one cannot afford to be stuck,” she told the participants at DTB’s offices on Mombasa Road, Nairobi.

Two other meetings are scheduled for next week.

Ms Devji cited the case of US-based camera firm Kodak, noting that its lagging behind in embracing new technological models was its undoing.

Though it invented its first digital camera in 1975, the firm failed to leverage on the new technology to gain a market edge pushing its cash-flows in the red in 2012.

DTB, which has turned its focus on the broad-base small and medium enterprises, looks to expand its base to the Democratic Republic of Congo, Rwanda, South Sudan, Mozambique and Madagascar.

The expansion will be financed partly by the recent Sh3.6 billion cash call that closed last week. The firm is yet to disclose the performance of the rights issue.

READ: DTB charts new expansion path for Kenya banks

Ms Devji asked the participants to take part in assessments such as Top 100 mid-sized surveys to benchmark themselves against other top industry players.

The annual survey is organised by Nation Media Group’s Business Daily and audit firm KPMG and identifies fastest-growing mid-sized companies in Kenya. Application for this year’s edition is ongoing until August 31.