Crown Paints has announced a partnership with Peak Performance International (PPI), a training, coaching and mentorship consultancy firm. The partnership aims to introduce a comprehensive business coaching and mentorship program dubbed Crown IT Business School, tailored exclusively for its partners.
The initiative’s expenses will be borne by Crown Paints, and will provide the right mindset, tools, and skills for growth of partners’ businesses. This was conceptualized as a way of improving growth for their partners and recognizing them as valuable stakeholders in their development plans.
PPI’s CEO and Founder, James Gitau, said the partnership is a unique approach that will transform many businesses and lives. “It is about helping people grow their businesses to a whole new level. It will help the business owners think differently, manage their businesses in a better way and make more money as well as create more jobs for this country,” he explained.
Crown Paints Group COO Richard Muturi reiterated Gitau’s sentiments saying, “Most of our partners are categorized as Small and Medium Enterprises (SMEs) and by targeting this group, we underscore the critical role they play in the Kenyan economy. According to statistics, SMEs constitute a significant portion of Kenya’s economic landscape, accounting for over 80% of the country’s employment and contributing approximately 40% to the GDP.”
Despite SMEs’ substantial contribution to the country’s economy, they face a myriad of challenges that hinder their growth. Limited access to adequate financing has been identified as a major impediment due to stringent lending criteria, lack of collateral, and high interest rates. Additionally, the sector lacks sufficient management skills as many SME owners in Kenya lack formal business training and may struggle with essential management skills. This is why initiatives likethe company’s mentorship program are vital, as they seek to address these issues.
“As part of our strategy to empower our partners and ensure they are well aligned with our objectives, we’ve developed this program to equip them with essential business skills that will help them unlock their growth potential,” Muturi further explained.
The Crown IT School of Business curriculum will be adaptable as it will employ regular assessment, coaching and feedback. This is while continuously conducting market research in collaboration with industry experts and integration of technology to meet market demands.