KPMG, NMG survey tames entrepreneurial mortality
By Stephen Otage
The annual Top-100 Mid-sized Company survey has saved many participating companies from collapsing because of the mentorship they get during the exercise.
This is according to audit firm KPMG Uganda Country Manager Stephen Ineget.
While meeting the Nation Media Group Uganda Managing Director at his office on Wednesday, Ineget said over the years, the survey has seen companies which started participating in the exercise with a minimum annual threshold turnover of Shs360 million but today, they are earning over Shs. 20bn annually.
He explained that the workshops and feedback sessions that participants are taken through, coupled with the involvement of government ministries, departments and agencies Uganda Revenue Authority, Uganda Investment Authority among others have been insightful.
“The annual survey has resulted in companies now keeping books of accounts, creating jobs, paying more taxes and when they display the Top 100 mid-sized company plaques and certificates, it has added appeal and credibility to their businesses by the customers because they are dealing with credible and trusted brand,” he said.
Susan Nsibirwa the Managing Director Nation Media Group Uganda who had paid a courtesy call to Ineget at his office, said the partnership between NMG-U and KPMG as an audit firm over the years, has been beneficial to both companies because any awards ceremony without an audit process usually raises questions of credibility to the processes.
“Working with a classic partner like KPMG is one of those ways we are sure that our audiences, sponsors, the partners and also those who are nominated and will win the award that the process is credible, transparent it is under guarded by the rich history of credibility and transparency. Any awards ceremony that doesn’t have an audit process looking into it will always raise questions,” she said.
The two companies are now partnering in the Empower Her project, a new initiative by NMG that focuses on Gender Equality and gender involvement whose award dinner is on this evening.
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