Logo of Phnom Penh Post newspaper Phnom Penh Post - KE project to teach SMEs how to raise funds, build networks

KE project to teach SMEs how to raise funds, build networks

Content image - Phnom Penh Post
Khmer Enterprise (KE) CEO Chhieng Vanmunin (left) and Obor Management Co Ltd CEO and chairman Christophe Forsinetti. SUPPLIED

KE project to teach SMEs how to raise funds, build networks

State-owned Khmer Enterprise (KE) on December 14 launched the SME Investment Readiness Programme to enhance the competitiveness of start-ups and small- and medium-sized enterprises (SME), and help them raise external financing and form a network of investors and bankers.

Solely funded by KE and implemented by local venture capital firm and fund manager Obor Management Co Ltd, the programme intends to recruit the Kingdom’s top SMEs that are deemed to be “close to reaching investment readiness and looking to understand and engage with new financial partners to upscale their business to the next level”.

KE CEO Chhieng Vanmunin said the programme would be important to enhance access to finance for local start-ups and SMEs to scale up their business operations.

“This remains one of the major obstacles for start-ups and SMEs in Cambodia. After completing this programme, it is hoped that start-ups and SMEs can raise new capital,” he said.

Obor CEO and chairman Christophe Forsinetti underlined that the programme would be a significant step in strengthening the start-up and SME support ecosystem, which he said Obor has focused on for several years.

“We look forward to supporting young Cambodian companies to become the leaders of their space in the next 10 years,” he said.

KE said in a statement that recruitment for the programme will be on a rolling basis through to January. Phase I is set to run from February to March, with a cohort of 25 SMEs going through workshop training.

At the end of group training, Obor and programme partners will select top SMEs among the 25 to proceed to the final phase, which is scheduled to run from April to May, KE said.

It described the phase as an intensive programme where SMEs will have one-on-one support from market-leading SME business advisers and operators.

On top of training and one-on-one support, there will also be a prize money pool of $15,000 awarded to the top SMEs alongside any new capital raised, KE said, adding the sum was sponsored by Advanced Bank of Asia Ltd (ABA Bank), AMK Microfinance Institution Plc, Wing Bank (Cambodia) Plc, and Small and Medium Enterprise Bank of Cambodia Plc (SME Bank).

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,

  • Cambodia's poverty cut in half from 2009 to 2019: World Bank report

    A report published by the World Bank on November 28 states that Cambodia’s national poverty rate fell by almost half between 2009 and 2019, but the Covid-19 pandemic recently reversed some of the poverty reduction progress. Cambodia’s poverty rate dropped from 33.8 to 17.8 per cent over the 10