Accra, Ghana, February 19, 2013 -
IFC, a member of the World Bank Group, today announced new agreements with
Fidelity Bank and the Association of Oil Marketing Companies to expand
access to the Business Edge training program in Ghana. The program will
help entrepreneur’s gain the skills needed to succeed and supporting small
business growth in the country.
The two-year agreements will allow 200 small
and medium enterprises in Ghana to access world-class management training
and run more efficient businesses. Business Edge is an important part of
IFC’s strategy to support smaller businesses in Africa. The interactive
product has already helped more than 100,000 entrepreneurs in emerging
markets improve their skills and profitability.
Mary-Jean Moyo, IFC Senior Country Manager
for Ghana, said, "IFC puts a high priority on encouraging entrepreneurship
in Ghana, which is supported by new partnerships and the expansion of the
Business Edge solution. More robust small and medium enterprises are critical
to creating jobs and generating growth for Ghana."
Support for Business Edge is part of a broader
effort by IFC to support the conditions for smaller businesses. Through
efforts to encourage efficient and effective regulation in areas such as
licensing, registration and taxation, IFC and its partners aim to improve
entry points and other building blocks for small business success.
To improve access to finance, IFC collaborates
with local financial intermediaries that enable SMEs to grow their businesses
with affordable and tailored credit and investment. Inadequate access to
finance constrains growth of small and medium businesses in Ghana and hinders
job creation. Only 22 percent of all 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. We help developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,
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.