AUDA-NEPAD Partners Ecobank
The African Union Development Agency NEPAD (AUDA-NEPAD) and the Ecobank Group, its strategic partner on the development of the 100,000 Micro, Small and Medium Enterprises (MSMEs) Initiative recently launched the financing component.
The AUDA-NEPAD launched the 100,000 MSMEs Programme to accelerate African economic transformation, provide the needed skills, and build resilience against the economic shock triggered by the global pandemic.
The ‘100 000 MSMEs’ initiative seeks to build the capacity of 1,000,000 enterprises in Africa through entrepreneurial and business training to improve access to finance and new markets while establishing networks for support and incubation to bolster their success.
“Across the globe, MSMEs are the biggest and the best engine of innovation, social transformation and economic development and growth. AUDA-NEPAD is deeply convinced that Africa structural transformation will be driven by youth and women led businesses and innovations,” AUDA-NEPAD, Director of Programme Delivery & Coordination Directorate, Amine Idriss Adoum said.
AUDA-NEPAD and the Ecobank Group announced their collaboration in May 2020 and agreed to tackle three main pillars in supporting MSMEs in coming out of the devastating economic impact of COVID-19: namely, MSME Academy, MSME Finance and MSME Marketplace.
The MSME Academy was launched in August 2020 in 8 countries. Both institutions will now proceed to launch the MSME Finance pillar in the same countries, namely Chad, Cote d’Ivoire, Ghana, Kenya, Niger, Nigeria, Rwanda, and Togo.
