Kenyan businesses rated second best in Africa

By Nicholas Waitathu

Kenyan businesses have been rated second-best in Africa — after South Africa — at involving low-income communities in efforts to boost economic growth and sustainable development.

A report compiled by the United Nations Development Programme (UNDP) praises Kenyan businesses for embracing innovative approaches that integrate low-income populations in their value chains as either consumers, producers or employees.

During the launch of the report yesterday in Nairobi, Juergen Nagler, a programme specialist with UNDP’s African Facility for Inclusive Markets, noted several Kenyan businesses have won global accolades for their contribution to development. 

Inclusive businesses

The report was compiled after a study of 400 enterprises, with South Africa leading with 73 and Kenya with 69 businesses demonstrating  inclusive businesses.

“More than one third of these examples are located in South Africa and Kenya, while most others are located in economies that are stable and growing,” he added.

Some of the businesses singled out include M-Pesa, which provides mobile money solutions to over 15 million people in Kenya alone; Equity Bank, which provides banking and credit services to eight million customers in Kenya, Uganda, Tanzania, Rwanda and South Sudan; and Ecotact, which provides sanitation services to almost 50,000 slum dwellers through its Ikotoilets.