THIS ARE THE TOP 100 COMPANIES IN TANZANIA

Helvetic Solar CEO Patrick Ngowi (right) shows off his company’s commemorative award after the firm clinched the coveted top spot in the Top 100 Mid-Sized Companies Survey 2012. Supporting him are technical director Ephraim Kimati (left) and his sister Irene Ngowi (second left). Others are Nation Media Group CEO Linus Gitahi (second right), Communication, Science and Technology Deputy Minister January Makamba (third right) and KPMG East Africa Managing Director Josphat Mwaura (partly hidden).

The Citizen Business Editor
Dar es Salaam. A five-year-old solar industry upstart beat seasoned professionals on Friday to clinch the coveted pole position as the fastest growing medium-sized firm in Tanzania. Energy sector newcomer Helvic Solar Contractors Limited eclipsed more established companies to be crowned the winner in this year’s Tanzania Top 100 Mid-Sized Companies Survey at a glitzy event held at Mlimani City Conference Centre on Friday evening.

“I’m very delighted,” said the company’s founder, Mr Patrick Ngowi, a 27-year-old engineer who is arguably the youngest successful Chief Executive Officer (CEO) in town. “It’s a breath-taking honour; we had very humble beginnings so this award is a dream come true for us,” he told The Citizen on Sunday.

This is the first time the solar energy company has taken part in the Top 100 poll which is currently in its second year. The survey is the brainchild of Mwananchi Communications Ltd (MCL) through its prestigious English-language daily The Citizen, in partnership with leading consulting and audit firm KPMG Tanzania.

It was founded to provide a platform for promoting small and medium-sized enterprises (SMEs) that have made an impact in the Tanzanian business sector. Unlike their multinational counterparts who can leverage global brand awareness to market themselves, local SMEs have always struggled to publicise themselves, what they sell and their successes and fears.

Helvetic Solar beat 99 other firms in a nationwide survey that sought to identify and reward companies that rank ahead of their peers in terms of revenue growth, profit growth, returns on investment as well as cash generation and liquidity.

Organisers reviewed two hundred local firms over a period of three months to find the 100 that had proven themselves capable of riding out global economic volatility and macroeconomic uncertainty to grow their market share and generate dividends for their shareholders.

“This time identifying the winners was a real challenge (because) now, more than ever, mid-sized firms understands the value of the free publicity that comes with this survey,” said KPMG Tanzania country leader David Gachewa during the prize-giving ceremony. “Indeed, the winners of last year’s survey can attest to this,” he said.

The race for the top spot was intense this year as a record number of upstarts and established companies nominated themselves for this prestigious poll.

“Last year we only surveyed 120 companies, but this year we had slightly over 200,” he said.
Many of the dignitaries and guests who attended the ceremony were stunned when they learnt that almost 40 per cent of the firms that made last year’s Top 100 did not make the cut in 2012. Gasps of surprise could be heard when the jam-packed conference venue was told at least 36 former Top 100 laureates had not made the list this year.

Some elected to not take part in the 2012 survey according to even organisers. Others were simply eclipsed by sharper, leaner newcomers.

The ten top-ranked medium-sized outfits are all new faces save for construction stalwart Nabaki Afrika Limited which has slipped by one place in this year’s polls to fourth position.

BQ Contractors Limited, the civil engineering firm that took the top spot last year, came in at a distant 95th position in the 2012 Top 100 Survey. Five companies gained the most including UWP Consulting Limited, which has jumped from position 58 last year to the number two overall spot in this year’s survey.

Another of last-year’s mid-ranked outfits, Nimeta Consulting Limited, has shot to the 5th position from 51st in the 2011 survey. Berkeley Electrical Limited is now the sixth most successful medium firm from 66th last year while Kibuku makers Darbrew gained 30 spots to settle in the 9th slot. Furniture manufacturer Palray Limited rounds off the top-ten at position number 10 in the 2012 Top 100 survey from 65th last year.

At positions three, seven and eight are Next Couriers & Logistics Limited, Fomcom International Limited and Majitech Engineering Limited respectively; all of whom are newcomers to the MCL-KPMG business ranking.

Two of last year’s top 100 mid-sized firms – Insignia Limited and Petrolube Tanzania Limited – have officially graduated into the big leagues with annual revenues of well over Sh20 billion according to Mr Gachewa. The Tanzania Top 100 Mid-sizes Companies Survey requires nominees to have an annual turnover of between Sh1 billion and Sh20 billion.

The awards ceremony was graced by the Deputy Minister for Communication, Science and Technology, Mr January Makamba, who, in a speech earlier, promised to work to resolve issues that hinder enterprise in Tanzania.

According to him government has a strategy in place to ensure businesses thrive and the country stays on course to becoming a middle-income state as outlined in Vision 2025. The goal, he said, is to improve Tanzania’s competitive by making it easier to do business locally.