The high-level summit is expected to stimulate business growth across the country, bolster economic independence and prosperity
Kenya is set to host the first Business Ecosystems Summit (BES) in Kisumu City in an effort to provide mechanisms for organizations to leverage technology, excel in research and business competence, and compete effectively in the marketplace.
In addition to driving new collaborations that press social and environmental challenges and foster sustainable practices and responsible business models, it will focus on fostering business ecosystems that center around shared sectors, missions, goals, and products. The primary goal is to maximize interactions and leverage each participant’s unique strengths.
Organized by the IMC People Ltd in partnership with the Lake Region Economic Bloc (LREB), the summit, which is set to take place on a Friday, September 1, is aimed at unlocking the potential of collaborative networks and will offer participants better ways to effectively navigate the dynamic shifts within various business landscapes.
“This summit is like no other, it serves as a catalyst for fostering innovation, driving economic growth, and creating harmonious collaborations. Together, we will explore groundbreaking strategies, embrace emerging technologies, and forge strategic partnerships to unlock the full potential of our business ecosystems,” LREB chairperson Governor Professor Anyang’ Nyong’o said.
According to LREB’s CEO LREB CEO Victor Nyagaya, besides propelling innovation and fostering substantial growth, the summit will enhance socio economic transformation of the bloc through leveraging on the economies of scale in its ecosystem and implement through collaboration with state and non-state actors the empowerment and participation of its over 15 million population.
“As a bloc we firmly believe that by embracing disruptive trends and nurturing strategic partnerships, we have the power to unlock a multitude of novel opportunities, resulting in enhanced prosperity and an increase in revenue. We are therefore calling upon all investors and businesses (those who can come in as sponsors and exhibitors) to register because we know the people of LREB will show up in huge numbers,” stated Nyagaya.
A public-private collaborative approach will take center stage at the summit with LREB chairperson Prof. Anyang’ Nyong’o and the governors of the 13 other member counties of LREB, including deputy chairperson Ken Lusaka, who is also Bungoma County Governor gracing the high-level summit.
Representatives from the Ministry of Trade and Investment and other ministries, Senators, Members of Parliament, and Governors are expected to appear at the summit, signifying governments’ recognition of the critical role business ecosystems play in achieving economic growth.
Giving her remarks ahead of the summit, The IMC People CEO Jeanette Oromo said the summit’s key focus is accelerating business transformation and fostering innovation among diverse stakeholders including government officials, policymakers, industry leaders, and entrepreneurs.
Oromo added that the move is a bold step towards shaping the future of Kenya’s business ecosystems while working hand in hand with all players – Government, investors and business communities to forge a way forward that makes it easier for accessibility to businesses in our regions by investors and vice-versa, customer acquisition and retention and transparency in regard to funding and investment
“In light of the transformative and disruptive trends and the remarkable resilience exhibited during the pandemic, it is becoming increasingly evident that traditional paradigms need re-evaluation. Our intention, therefore, is to conduct this evaluation through the summit, utilizing modern technology, fostering collaborations, and addressing social and environmental challenges,” said Oromo.
