IDG News Service —
Technology companies won accolades at the inaugural awards for Kenya's top 100 small and medium enterprises (SMEs), showing a shift in emphasis away from the country's traditional agricultural and manufacturing sectors.
Cellulant Kenya, a mobile technology firm, won top honors as the best-run company, followed by Techbiz, a software development company, and Dimension Data.
Nation Media Group and audit firm KPMG conducted a survey to determine the winners. The annual survey assessed 500 businesses with an annual turnover of between 70 million Kenyan shillings (US$979,706) and 1 billion shillings.
"When we hold the survey next year, we want to invite you here as role models to a new group that you will mentor as members of the Top 100 Club," Nation Media Group CEO Linus Gitahi announced to the winners.
According to statistics, SMEs provide over 80 percent Kenya's jobs and over 75 percent of the country's wealth. Previously, agriculture-related companies were recognized as the country's main economic drivers, but the trend is slowly changing.
However, Kenya's infrastructure and licensing regimes must be examined in order to further improve business in the country, according to KPMG CEO Richard Ndung'u.
The survey judged companies on the basis of revenue growth, profit, returns to shareholders, and cash generation, as well as issues such as tax compliance and business sustainability.
