The Top 100 mid-sized companies survey report, an initiative of Monitor Publications and KPMG, was released on Wednesday in Kampala.
The report also highlighted business challenges that are facing SMEs such as high taxes, high costs of production, competition from sub-standard goods, unstable economy, high foreign exchange rates, limited access to credit, among other things.
The survey was conducted from July to September with a total of 242 participating companies.
In its 9th year now, the survey aims to identify Uganda’s fastest growing Medium Sized companies in order to showcase business excellence and highlight some of the country’s most successful entrepreneurship stories. SMEs are celebrated contributors to wealth and job creation in Uganda.
Vodafone Uganda, one of the partners of the survey, was represented by Progress Chisenga, Head of Marketing. “Without a doubt, SMEs are the engine of growth in the economy whose participation in this fast-growing era of technology is indispensable,” she said.
“Our expectation as Vodafone is to close the digital gap as much as possible. We look forward to reviewing the survey report because we believe that the recommendations thereof will guide our direction on how to provide the best internet solutions for SMEs.’’
The survey is sponsored by DFCU Bank, ICEA Group, Vodafone Uganda, South African Airways, and the Uganda Investment Authority.
“The dynamism of technology is an indicator that businesses need to evolve to working smart and faster so they achieve high efficiency, productivity, competitiveness and profitability,” Ms Chisenga added.
The detailed survey results will be released at a Conference on 9 November at Sheraton Hotel, Kampala.