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Kenyan enterprises defy economic storm to post strong growth

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By Philip Muema, Project Director

Posted  Sunday, October 23  2011 at  19:20

In Summary

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Many of these companies export to the EAC countries with over 59 per cent of the participants planning to expand or enter into strategic partnerships in other East African countries in the next 12 months, with Uganda and Tanzania featuring as the favourite destinations.

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To support these efforts, many of the companies expressed a need for more information on business opportunities and market potential in the East Africa region (47 per cent), general information and policies on integration (20 per cent) and information on taxation (17 per cent) and labour laws (10 per cent).

This is a challenge for the EAC Secretariat to step up and encourage trade and investment in the region.

The Top 100 medium-sized companies represent a very important cog in the country’s economic engine and are important to ensuring that the country meets its growth objectives. As policy makers look for solutions to spur economic growth to realise the Vision 2030 objectives, harnessing and unleashing the collective potential of these companies will be key.

KPMG and Nation Media congratulate and celebrate the 2011 Top 100 companies and will continue to spotlight the successes of this important sector.

The graduation of four companies into the Club 101 is also an important milestone, showing that these companies have the potential to grow and become tomorrow’s global multinationals.

The challenge for policy makers going forward will be to work closely with the medium size companies to create the critical mass necessary to generate the 10 per cent annual economic growth required to achieve medium income country status by 2030.

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