The Nairobi Stock Exchange has been stereotyped as a platform for the extremely large corporations. This has now been debunked with the launch of the ibuka program, a program designed around hosting non-trading boards and hosting introducers for Small and Medium Enterprises (SMEs).
SBS through its Enterprise Development Programme (EDP) works towards equipping SMEs by means of solving their needs and challenges. All Small and medium-sized enterprise operators in the program explore various models and solutions to address their challenges as well as good decision making through locally developed businesses case studies
The EDP held an alumni breakfast hosted by NIC Bank Kenya, attended by SME owners and SBS alumni, where they discussed how to raise capital for sustainable business growth. Mr. Geoffrey Odundo, Chief Executive Officer, NSE and Advanced Management Program (AMP) alumnus at SBS, was also present and shared key highlights challenging the SMEs that they no longer had an excuse of not getting listed in the NSE.
SMEs are known to contribute the biggest share to the country’s Gross Domestic Product (GDP) and employ more than 75 percent of Kenya’s working population. As part of Kenya’s Big Four agenda, the government vowed to prioritize SMEs, similarly, it was the topic of discussion in a forum organized by SBS, NIC Bank and the Government of Kenya in October 2018 which attracted representatives from all sectors of Kenya’s small and medium enterprises.
Family owned firms and SMEs constantly face the challenge of requiring fresh ideas to increase their market reach and attract new capital to counter emerging opportunities. Ibuka is said to offer a wide range of benefits to our SMEs among them; a high level of visibility across a vast public spectrum, assistance in developing capital markets access capabilities, and a road-map to higher and long-term corporate sustainability. For details on how to enroll for cohort 2 of the Enterprise Development Programme in August 2019 click here.