When Invest in Africa (IIA) was created in 2012, our goal was to coordinate the private sector’s desire to source locally, build capacity and create jobs, so we are proud to announce we passed the milestone of connecting small local businesses in Ghana and Kenya with over 100 tenders from large businesses as of April 2018. We have also helped SME access over $1 million worth of financing to grow their business. Through IIA’s African Partner Pool (APP) platform (which connects large business to credible, independently validated small local businesses) many small local businesses have won new contracts with new business partners.
Currently there have been 122 deals done on the APP, with a value of $151.4m , has also created:
- 32,300 jobs locally
- $116m of value retained in local economies
IIA has also supported local suppliers with the skills they need to access new markets and finance. So far,
- 262 SMEs have received business, technical and entrepreneurship training through IIA programmes
- These 262 SMEs have gone on to win 167 contracts
- And $1,000,000 worth of finance has been accessed by graduates of IIA training programmes
Thanks to the contributions and continued support from our partners and suppliers, we have been able achieve the above milestones!
Our Socioeconomic Tool
At IIA we constantly monitor our impact through our unique socioeconomic tracking tool that measures the impact of our African Partner Pool in 3 ways:
For every deal that goes through the APP, we capture the value and sector of that tender. Our unique socioeconomic model then allows us to track the $ amount retained in country through taxes, profits and household income. This model also tracks the number of jobs supported by this tender across different sectors of the economy.
As more and more business and training opportunities go through IIA, we calculate the overall impact we are having on the economy by purchasing goods and services locally rather than from abroad.