Why we're the epicentre of entrepreneurship

This week and the coming days, Kenya will be at the epicenter of global attention as Nairobi hosts the Global Entrepreneurship Summit which will be graced by US President Barrack Obama.

This Summit that brings thousands of entrepreneurs running some of the biggest businesses in the World marks the biggest swerve for economic growth and transformation in the country and across the East African region.

This is clearly an African moment. It is exciting that across all the countries in Africa, Kenya was selected to host such a summit that has brought into Nairobi global billionaires and some of the greatest business minds the World has to offer. And the bigger journey is coming.

The event is demonstrating Kenya's strength as a country, the innovation spirit for our people across the region and our ability to build a bigger potential for our transformation across telecommunications, innovation and businesses, agriculture, industries and other sector.

Kenya as a country is going through an exciting stage. The latest World Bank Report indicates that the Kenyan economy is expected to grow 6 per cent this year; up from an earlier projection of 4.7 per cent has made the country, an envy amongst her peers across the region and Africa.

The attainment of a lower middle-income status and the fifth-largest economy in sub-Saharan Africa has put the country at a very strategic position as it emerges as the most promising economy in the emerging markets.

We are already seeing all the East African countries moving up the World Bank's Ease of Doing Business index. In the next two years, I believe that Kenya is going to make it to the top 20, top 30 best countries to do business.

Rwanda is already at that level. Kenya is a very exciting country –the optimism, the energy, the enthusiasm and also the innovation.

If you look at the big innovations like mobile money in the last eight years, our innovation in enterprise, our transportation sector and logistics handling in the region naturally makes Kenya special.

Whether it is in Nairobi, or in Lagos, or in South Africa, or in the Middle East, or in European markets, that urge to go out and build a new business and look for solutions depicts the Kenyan heritage. I am always very excited when I am in, let us say, New York, or Washington, or California or London and I find Kenyan entrepreneurs running logistic innovation businesses, airline businesses.

Nairobi is bubbling for innovation and technology. The positive reviews for the economy can largely be attributed to the unwavering entrepreneurial spirit from the Kenyan population who have taken it upon themselves to steer the economy.

Today, Kenya is extremely ripe for risk-takers, fearless, innovative and creative individuals. For a start, the Vision 2030 (the national long-term development blue-print) aims to create a globally competitive and prosperous Kenya while at the same time transforming the country into a middle-income country that provides a high quality of life to all its citizens by the year 2030.

Entrepreneurs are widely recognised as the prime movers of economic development; the people who translate ideas into action.

While formal employment is still highly prized, some encouraging trends are emerging. Recent times have seen opportunity-driven entrepreneurship gaining some traction in our society as more people embrace it for self-development.

For Kenya, the GES 2015 is the World Cup of investment opportunities. Entrepreneurship is essential to a nation's ability to prosper in an ever-changing and increasingly competitive global marketplace, the GES 2015 is our launch, our take-off strip to prosperity.

Entrepreneurship is essential to a nation's ability to prosper in an ever-changing and increasingly competitive global marketplace. When we think of an entrepreneur, we often envision someone in high technology.

There is no denying entrepreneurs have improved our lives by revolutionising how we communicate, manage money, and follow the world around us. Central to this conference is entrepreneurship; that "spark" characterised by innovation and risk-taking.

From world-leading commerce and banking technologies like M-Pesa to veterinary smart apps assisting small-scale dairy farmers like iCow, Kenya is a pioneer in businesses improving the lives of millions.

The summit offers a significant opportunity for big indigenous corporations like KCB to showcase entrepreneurship in Kenya and by extension Africa.

For KCB, the biggest financial services firm in the region by assets, this is a platform for the bank to demonstrate its strong impact and heritage in Africa and its future commitment to the Continent.