Inoorero University’s Regional Center for Enterprise Development launches MSME Business Mentorship Program Impact Report

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Inoorero University's Regional Center for Enterprise Development (RCED) launched the Micro, Small and Medium Enterprise (MSME) Business Mentorship Program Impact Report today 26th June 2013 at a breakfast meeting held at The Hilton. The colourful event was attended by the University leadership, program partners and faculty, mentors and mentees as well as other stakeholders in the MSME sector.

The Business Mentorship Program began in February 2011 with support from the Royal Danish Embassy in Nairobi and in collaboration with International Labour Organization - through the Youth Entrepreneurship Facility (ILO...-YEF); and other industry partners (Kenya Private Sector Alliance, Kenya Association of Women Business Owners and Africa Youth Trust). The Business Mentorship Program aims at contributing to the growth of sustainable Micro, Small and Medium Enterprise (MSME) in East Africa.

So far, over 100 professional business mentors have been trained and a further 215 mentee enterprises have been impacted by the program since it began in 2011. 45% of the mentees reported a 78% increase in gross annual turnover. “Being mentored turned my business around and forever changed how I think as a business person. I can confidently say that mine is truly a success story”, said Ms. Nyambura Gachuki, one of the program mentees and owner of a kindergarten in Lavington Nairobi. Ms. Gachuki was mentored by Ms. Catherine Kioi who attended Cohort 3 of the Business Mentoring program. Ms. Kioi was quick to point out that “one must have business knowledge to be able to mentor successfully; ability to decode the business models to the mentee will also be key to the success of the small business.”

Speaker after speaker emphasized the need for Africa to focus on the success of MSMEs in the region as it was key to transforming the economy of the continent. Dr. Caesar Mwangi, Governor of Kenya Private Sector Alliance and Managing Director of Sasini Ltd. encouraged the forum, “The MSME Business Mentorship Program can enable us to achieve the Kenya Vision 2013 by cultivating an entrepreneurial mindset and improving the MSME sector through professional business mentorship.” Mr. Richard Muteti of SME Africa Trust urged the forum to join hands in this journey so that ‘together we can change Africa.’

The University’s Vice Chancellor Prof. Henry Thairu expressed great pride for the University and RCED for being able to impact on the national economy through improved MSME performance that has been made possible by the Business Mentorship Program.