Consultancy firm KPMG yesterday said tax-compliant small and medium enterprises (SMEs) with automated processes were most attractive to investors seeking partners in East Africa.
KPMG’s audit partner Jacob Gathecha said Kenya’s growing economy at 5.9 per cent and its membership in the 180-million people East African Community (EAC) makes its small and medium enterprises attractive to foreign investors.
He said companies that made it to the KPMG/Business Daily Top 100 list enjoyed higher patronage from foreign investors due to availability of financial information and other company information for over 2,000 SMEs that have participated in the contest for the past 10 years.
“Put your house in order because investors are asking us (KPMG) to provide them an in-depth analysis on how you run your affairs from tax compliance, sustainability, inclusiveness, governance and social corporate responsibility,” he said. Mr Gathecha spoke when KPMG, a partner of Business Daily’s Top 100 competition held a meeting to brief CEOs and owners of SMEs on the upcoming 10th anniversary since the programme was launched for SMEs with an annual turnover of between Sh70 million and Sh1 billion.