Invest In Africa (IIA) Ghana says as part of its vision for the next four years, it is awarding $500 million worth of contracts to medium-sized enterprises and creating 100,000 jobs.
This was revealed during the celebration of four years of impact from 2014-2018 dubbed 'Celebrating milestones, Repositioning for the future'.
Looking back at the first four years of operation, Country Manager of Invest in Africa, Clarence Nartey said the organization had awarded contracts worth ¢150 million to local businesses, facilitated 1 million dollars’ worth of credit and trained over 200 SMEs.
“Frankly, these achievements are impressive. We now have a firm foundation and a good business model in place to build on into the future. But we could never have achieved this without the support of our 10 partners and donors, 12 Buyers, 1500 SME’s and the phenomenal IIA team in Ghana”, he said.
The IIA is also poised to becoming a self-sustaining organisation. This means it would not rely on donor-funding as is the case now.
“Achieving these goals will require a re-thinking of some of our operating principles, sharper prioritisation and faster mobilisation of internally generated funds”, Mr Nartey noted.
The IIA, Mr Nartey noted will focus on three things, i.e. future recruitments would target Medium-Sized enterprises with an annual turnover of $250k and beyond.
It would also prioritize key sectors of the economy - Finance, Agriculture, Construction and Extractives and ICT (FACE-ICT).
The third area would be to boost communication, highlighting the three benefits of Invest in Africa including access to markets, skills and finance.
The anniversary commemoration saw the launch of a new app, APP 2.0 which easily connects buyers and suppliers on its African Partner Pool (APP)
“This new software provides a real-time connection between SMEs and the buyers, provides data and analytics and opportunity to do procurement directly”, Ghana Manager of APP Ibrahima Aminu explained.
IIA awarded its leading partners for their support in their 4-year journey of impact. The Multimedia Group was awarded the leading online, TV and radio media partner.
IIA Ghana is a non-profitable organization which seeks to provide solutions to Small and Medium-size Enterprises (SMEs) such as access to market, funding and skills to expand to a wider market.
Since its inception, it has partnered with leading private companies like Tullow Oil, Ghana Commercial Bank, Multimedia Group and others to help execute its initiative.