Accra, Ghana, May 29, 2014 – IFC,
a member of the World Bank Group, announced today an expansion of its support
for the business sector in Ghana through an initiative to increase the
capacity of trainers to provide non-financial services to financial institutions,
large projects and other corporate partners. The effort contributes to
shared prosperity by supporting dynamic smaller businesses to grow faster
and expand employment
In support of improved services, IFC, with
Business Edge partners in Ghana, completed a training program earlier this
month that prepared 15 new trainers to support local SMEs. The program
focused on financial institutions and banks that are eager to improve product
offerings to SME clientele through non-financial services, such as business
planning, marketing management and access to information. IFC is creating
partnerships with consulting firms Cicada Consulting Ltd, Rainbow Consult
and EDC Consulting LTD, which combined deliver business skills training
through 30 Business Edge trainers.
Business Edge is an interactive learning
program that offers skills training to help managers increase their knowledge
and run more efficient businesses. As an important part of IFC’s strategy
to support the growth of smaller businesses in Africa, the product has
already helped more than 100,000 entrepreneurs in emerging markets improve
their skills and profitability.
Samuel Akyianu, Senior Operations Officer
specializing in support for African SMEs, said, “Supporting smaller businesses
through financial institutions is a major focus of IFC’s SME work in Africa.
A stronger small business sector will help foster employment and inclusive
economic growth. IFC will continue to provide tools and best practices
to local trainers that enable them provide quality training partnerships
with banks, financial institutions on large projects to deliver Business
Edge training in Ghana.”
To improve access to finance, IFC collaborates
with financial intermediaries that enable SMEs to grow their businesses
with affordable and tailored advisory support and suitable financing. Inadequate
access to market knowledge and standards constrain access to finance and
growth of small and medium businesses in Ghana, and hinders job creation.
Only 22 percent of Ghanaian firms have access to a line of credit, a figure
that falls to 13 percent among smaller companies.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in more than 100 countries, we use our capital, expertise,
and influence to help eliminate extreme poverty and promote shared prosperity.
In FY13, our investments climbed to an all-time high of nearly $25 billion,
leveraging the power of the private sector to create jobs and tackle the
world’s most pressing development challenges. For more information, visit
About Business EdgeTM
IFC Sustainable Business Advisory Services
is supporting the growth of small and medium enterprises. Working with
partners in Africa, IFC has helped thousands of entrepreneurs access the
finance and skills they need to realize their potential. Business Edge™
is a face-to-face IFC training system that helps SMEs more easily access
markets by strengthening their management capacity. The training can be
customized for specific countries and regions in Africa. For more information,
including a full list of our corporate partners and accredited training
firms, visit www.businessedge-africa.com.