Equity Bank Holdings CEO James Mwangi has asked entrepreneurs to do a few things well rather than always trying to do the latest thing.
Speaking during an award ceremony where 40 business leaders across Africa were awarded by Stanford Graduate School of Business for completing a 10-month management course, Mwangi trying to be a master of all cannot bear fruits.
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.
Launched in 2013, the Stanford Seed Transformation Programme 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 $1 billion capital raised and $923 million revenue added to local economies in Kenya, 16.6 per cent average compound annual revenue growth rate and 19.7 per cent average annual jobs growth rate across markets.
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.
Some of the businesses that were recognised for outstanding growth included RFHHealthcare, Unity Homes, Danco Capital and Scanlab Nakuru.
More African entrepreneurs are expected to join the Seed Transformation Programme in 2024 with the hopes of sharpening their business management skills, tools, and mindset to grow and scale their businesses.