Entrenching The Spirit Of Entrepreneurship Among East African Business Leaders

by Business Watch Team

Forty business leaders from across East, Central, and Southern Africa (18 Kenyans and others from Ethiopia, Tanzania, Madagascar, and other countries in the region) were awarded certificates of completion by Stanford Graduate School of Business after finishing a 10-month rigorous management program under the Stanford Seed Transformation Program.

The keynote speaker at the Friday night awards and gala ceremony was Dr. James Mwangi, CEO of Equity Bank.

Launched in 2013, the Stanford Seed Transformation Program has helped Kenyan CEOs and Founders scale to new products, customers, and global markets. To date, the Seed Transformation Program has seen 29,901 direct jobs created, 110,600 indirect jobs created, over $1B capital raised and $923M revenue added to local economies including Kenya, 16.6% average compound annual revenue growth rate and 19.7% average annual jobs growth rate across markets.

Speaking during his keynote presentation, Equity Bank’s CEO Dr. James Mwangi advised the entrepreneurs in attendance to do a few things well rather than always trying to do the latest thing. He also talked about the importance of having a strong brand and described Equity Bank’s brand as a significant driver of its success. He said that a strong business model fueled by a strong brand will deliver phenomenal business growth.

Stanford Seed Regional Director, Frank Waruingi described the event as an opportunity to celebrate the achievements of the entrepreneurs and businesses within the alumni network (Seed Transformation Network) throughout the year.

Some of the businesses that were recognized for outstanding growth included RFH Healthcare, Unity Homes, Danco Capital, and Scanlab Nakuru.

With the 2024 intake for the Seed Transformation Program ongoing, more African entrepreneurs will be joining the Seed Transformation Program with hopes of sharpening their business management skills, tools, and mindset to grow and scale their business using the world-class curriculum and innovative insights from the Stanford Graduate School of Business.

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