IIA celebrates World SME day

Date: 27/06/2018

To mark the second annual World SME (small to medium sized companies) Day — a day designed to highlight and celebrate the significant contribution SMEs make to the global economy -- Invest in Africa will has been discussing and promoting the importance of the SME sector.

The importance of SMEs is undeniable. SMEs account for over 95% of firms and 60%-70% of employment and generate a large share of new jobs, especially in developing nations. Watch our Kenya Country Director, Wangechi Muriuki, discussing World SME Day below.

Invest in Africa recognises the importance of the SME sector and works with the private sector and public sector bodies to create prospering African economies.

Invest in Africa (IIA) is a cross-sector initiative that seeks to do three things:

  1. Connect local suppliers (SMEs) to tenders issued by multi-national and large businesses
  2. Help local suppliers win tenders by giving them access to skills & financing through development agency supported training programmes and micro-financing initiatives

Invest in Africa Intiatives include:

The African Partner Pool

Our flagship programme is our on-line platform that connects local suppliers in Ghana and Kenya to tenders

  • 2,843 local suppliers
  • 106 deals done
  • $97.1m worth of deals done
  • 21,000 jobs created

Business Linkage Programme

Invest in Africa’s capacity building programme offers training and consultancy for SMEs in Ghana and Kenya.

  • 262 SMEs trained
  • 162 contracts won by graduates from our programmes
  • $3m of contracts won by graduates on the APP

Financing & support for SMEs

IIA works with banks to help provide loans and financing to SMEs. Total value of finance accessed by IIA SMEs = $863,000 on track for $1m+ by Dec 2018

  • IIAs Credit Guarantee Scheme for SMEs in Kenya
  • 63 SMEs Trained by TRACE (Anti bribery certification provider)
  • IIA is co-organising an ‘SME finance conference’ connecting investors seeking to invest $1-10m into SMEs

Invest in Africa will continue to grow competitive local businesses in Africa, ready for global trade.