The 39th Annual Meeting of the Donor Committee for Enterprise Development (DCED) was hosted by the Food and Agriculture Organization of the United Nations (FAO) in Rome on the 14th June 2017. The DCED brings together more than 22 bi – and multi-lateral donors, development funds, UN agencies, and private foundations, to explore how to make markets work for the poor. Under the aegis of Annual Meeting, FAO organized a Thematic Day to explore the relevance of small and medium sized agro-food companies (SMAEs) in poverty reduction and the transformation of rural development, inviting representative of small and medium sized enterprises from Uganda and Ethiopia, and academics and experts on finance and agricultural value chain development. This report represents a summary of the proceedings by the FAO organizers of the Thematic Day.