NAIROBI, KENYA, May 24, 2021 -- IFC has partnered with Nation Media Group's Business Daily and KPMG on the upcoming Top 100 SME Awards in Kenya slated for later this year.
The awards, founded by KPMG and Business Daily, recognize and celebrate outstanding medium-sized businesses innovating to solve market challenges and making waves in Kenya. Small and medium-sized businesses account for the majority of firms in Kenya, create millions of jobs in the country and make significant contributions towards the economy.
Over the years, the average number of firms participating in the survey has grown from 300 in 2008 to 800 in 2019. This is testament to the value of the awards, with past winners indicating that their organization's brand and reputation were enhanced as a result of the recognition. Following the two-year hiatus due the onset of the COVID-19 pandemic, this year's awards will identify SMEs that have successfully pivoted and redefined their business in this period.
Speaking at the official partnership signing, Jumoke Jagun-Dokunmu, IFC Regional Director for Eastern Africa said, "IFC is proud to partner with the Top 100 SME Awards. SMEs are critical to the economic and social development of emerging markets – they are the backbone of our economies. Supporting small and medium-sized businesses is at the core of IFC's work in Kenya and we look forward to empowering more of these critical businesses through these awards."
KPMG East Africa Senior Partner and CEO, Benson Ndung'u said, "The pandemic changed our world and indeed, the landscape in which our businesses operate. In particular we have seen social issues, gender equality and climate change thrust to the forefront as citizens across the world hold governments and organizations to account on their role in addressing these issues. Essentially, ESG is now a top agenda item in organizations and is going to influence how we do business. It is paramount for mid-size companies to appreciate how they will be held accountable on their ESG commitments by diverse stakeholders including suppliers, customers and regulators among others, and how they too, will hold their business relationships to account. Sustainability, diversity, equity and inclusion, responsible tax and good citizens are some of the areas that now comprise ESG and these are increasingly becoming key considerations for investors."
Speaking at the signing, NMG Group Chief Executive Officer, Stephen Gitagama said, "As a firm, we are committed to the growth and development of SME's and have over the years curated content and events that speak to the inherent opportunities and challenges that they face. As such, we are very excited to be walking this journey with IFC this year. As you all know, they have been at the forefront of investing in emerging markets and economies for decades, and as such, are the perfect partner for this venture."
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org
About KPMG
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited ("KPMG International") operate and provide professional services. "KPMG" is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.
KPMG firms operate in 145 countries and territories with more than 236,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.KPMG's East Africa practice comprises Kenya, Uganda, Tanzania and Rwanda. KPMG East Africa firm has 23 partners and over 1000 professional staff. The Nairobi office serves as the regional coordinating office providing the required networking to facilitate delivery of services on a timely basis to meet and exceed our clients' expectations.
About Nation Media Group
Nation Media Group (NMG) was founded by His Highness Aga Khan in 1959. It has been publicly-listed on the Nairobi Stock Exchange since the early 1970s and it is the largest independent media house in East and Central Africa. It has a global digital footprint as well as operations in newspapers, television and radio broadcasting across Kenya, Uganda, Tanzania and Rwanda. The group recently launched its new digital brand Nation.Africa with a mission to empower Africa through leveraging its largest digital footprint. NMG publishes the Daily Nation, Business Daily and Taifa Leo newspaper brands in Kenya; The EastAfrican regional newspaper; the Daily Monitor and Enyanda in Uganda; Mwananchi, The Citizen and Mwanaspoti newspapers in Tanzania; and a raft of e-papers. Also, in its stable are NTV Kenya, NTV and Spark television stations as well as KFM and Dembe radio stations in Uganda. NMG also owns the Nation FM radio in Kenya.
