Lagos, Nigeria, March 17, 2010 —
IFC, a member of the World Bank Group, is expanding the availability of
specialized management and skills training tools to thousands of small
and medium-sized enterprises in Nigeria. The training will help these businesses
grow, creating employment opportunities and adding to economic growth in
IFC is hosting an event in Lagos from
March 15-19 to promote the use of its Business Edge and SME Toolkit business
training products, which have helped SME businesses grow, and become more
efficient and profitable in emerging markets around the world.
The five-day event is open to banks,
financial institutions, microfinance institutions, consulting firms, and
private businesses. IFC is also partnering with large firms such as MTN
Nigeria, Nigeria Bottling Company, Cadbury to increase access to Business
Edge and the SME Toolkit in Nigeria.
Following this event, Business Edge
certified local trainers will hold workshops across the country to increase
the impact of these SME training tools. IFC’s Business Edge partners in
Nigeria are expected to deliver more than 100 training activities to at
least 2,700 participants by the end of 2010.
Solomon Adegbie-Quaynor, IFC Country
Manager for Nigeria, said, “Supporting SME development in Africa is a
priority for IFC, as they are the largest provider of jobs on the continent.
The commitment of large corporate firms and institutions to supporting
SMEs in their value chains is a first step. IFC is looking to scale-up
the rollout of Business Edge to support the growth of more SMEs.”
Peter Bamkole from Pan African University,
a Business Edge partner organization, said, “From our experience of the
SME market in Nigeria, the Business Edge methodology is practical enough
and offers SMEs the right mix of skills needed to face current business
Business Edge includes class sessions
featuring high-quality training material from the global market to offer
small business owners and managers practical means to improve their efficiency
The SME Toolkit is an online solution
that promotes business growth using modern information technology. The
product offers business management information and training for small businesses
on accounting and finance, business planning, human resources, marketing
and sales, operations, and information technology.
IFC is the only international financial
institution focused exclusively on the private sector, the engine of sustainable
development in emerging markets. It is currently seeking a capital increase
to strengthen its ability to create opportunity for the poor in developing
countries -- including supporting the growth of smaller businesses.
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $14.5 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.