Monitor Publications managing directorTony Glencross briefs the media during the Top 100 mid-sized companies press conference yesterday at the KPMG headquarters in Kampala. Looking on are general manager ICEA Group Jackson Muli, Country leader KPMG Benson Ndung’u, Head of Communications Stanbic Bank Fred Mugisha, and brand manager NTV Uganda Jackie Kansiime.
Kampala- Growing competition has emerged as one of the most consistent challenges Top 100 mid-size companies in Uganda are grappling with.
Speaking during the launch of the 2015 mid-size company survey yesterday, KPMG senior manager, Mr Peter Kyambadde, said a survey commissioned by the audit firm (KPMG) and the Daily Monitor, shows that increased competition tops the list of challenges facing mid-size companies.
According to Mr Kyambadde, the competition emanates from within and beyond the country’s borders.
The list of challenges also includes limited alternative and access to finance and unstable economic environment, a case in point is the foreign exchange volatility, which ultimately raises the cost of doing business here.
Part of the benefits of the Top 100 mid-size companies survey, the brain child of KPMG and Daily Monitor, is not only to help the participating companies build their brands beyond the borders but also to drill them on how to deal and stay ahead of competition or better still, how to thrive amid growing competition.
“We are here to support the Mid-size companies grow despite the challenges.
“We shall organise different forums to help them understand how to swim in a tide waters,” he KPMG country director, Mr Benson Ndungu, said yesterday.
The communication manager of Stanbic bank, Mr Fred Mugisha, one of the long-time sponsors of the mid-size companies said large corporates companies, have a duty to help the small and medium companies succeed and for that they should join this cause. He also pledged Stanbic Bank future support of the event.
Representing the Insurance Company of East Africa (ICEA), another sponsor of the Top 100 survey, Mr Jackson Muli, said their intention is to see how they can help participating companies do business without worrying about risks that could occur to life and property.
The brand manager of NTV, Ms Jackie Kamusiime, said they are into this because it’s one such avenue that can cause the much needed social and economic prosperity, something NTV is passionate about.
Daily Monitor managing director, Mr Tony Glencross said mid-size companies should participate in the survey because it will give them an indication of where they currently stand and an idea of what they have to do to get where they want to be.
He said: “Be part of this, you could be the winner.”
Meanwhile, Uganda Top 100 mid-sized companies’ survey 2015 was launched yesterday in Kampala.
The Top 100 survey is an initiative of Daily Monitor and KPMG and the sponsoring partners are Stanbic Bank Uganda Limited, ICEA group and NTV Uganda.
The purpose of the Top 100 Survey is to identify Uganda’s fastest growing medium-sized companies with a view to showcase their business excellence and highlight their most successful entrepreneurship stories.
Top 100 survey
Participation is voluntary. Any company can participate (with the exception of banks, insurance companies, accounting /financial consulting firms) as long as it meets the following guideline:
- Has a turnover range: Shs360m to Shs25b.
- Has a three year audited financial track record
- Is not listed on any stock exchange
Data collection started yesterday. Both companies operating within Kampala and other parts of Uganda are free to participate.