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Accelerating Business Growth for Small and Medium Enterprises

  Apr 21, 2017

Strathmore Business School Partners with Stanbic Bank to Launch Financial Literacy Program

Businesses will now be able to accelerate their growth through the financial literacy program by Strathmore Business School and Stanbic Bank.

Strathmore Business School in partnership with Stanbic Bank will be offering financial literacy skills to small and medium enterprises. The program dubbed “BizConnect” is aimed at providing skills and competencies in risk analysis, strategy and its execution, ICT and innovation; key concepts for business practitioners to expand their enterprises.

Speaking during the launch of the program, Strathmore Business School’s dean Dr. George Njenga spoke of the significance of clarity of vision in achieving goals and future aspirations of the business. “Businesses will only grow and succeed if they are clear on their purpose. The BizConnect program is well rounded to ensure that business practitioners grasp the model of designing purposeful and sustainable enterprises that serve and improve livelihoods.”

Small and Medium sized Enterprises are the growth engine of most African economies contributing significantly to the respective countries’ GDPs whilst being a substantial source of employment. This is largely the result of increased private and public sector support in terms of access to finance and affirmative action legislation that allows these businesses special access to government and private sector projects. In Kenya’s case, one third of all government tenders are by law reserved for women, youth and persons with special disabilities through the Access to Government Procurement Opportunities (AGPO) legislation.

Chief Executive Stanbic Bank Philip Odera affirmed this in his address, “Giving adequate support to the SME sector is very critical in growing its impact and the country’s economy. As a bank, we are aware of the challenges SMEs face, such as accessing financing and in identifying quality institutions that will journey with them towards the success of their businesses. Sharing a similar vision with Strathmore Business School in this partnership, we believe that the outcomes of this program will be worthwhile.”

The BizConnect program was developed in 2014, with pilot training of its curriculum being rolled out in 3 counties; Nairobi, Nakuru and Mombasa. Last year, the program trained a total of 208 SME’s.

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