Growth Program Private sector expectations for the West Africa
Lome, the capital city of the Republic of Togo will receive on the 3rd and 4th of this coming October, the first edition of the Forum International Invest in West Africa, on the theme “Finance SMEs-SMIs with great potential / Amplify public-private partnership”.
The growth program, an arrangement of high level of executive leaders of companies and qualifications of investments projects, gives a expectations preview of the private sctors of the region.
By Public Affairs Africa
Between the deficits of projects maturity, insufficiency of mechanisms and financing adapted, West African SMEs-SMIs struggle to reach the financial and strategic levers as well as opportunities to necessary markets for their growth. Yet, in the opening of the markets context characterized by ZLECAF and ECO, the West Africa, like the rest of the African continent must boost its competitiveness and productive base to win the battle of the job and of prosperity. To respond to the challenge, the Forum Invest in West Africa support a hundredth of SMESs-SMIs of the region for four months through a growth arrangement, which allows to equip projects leaders to the strategic plans, access to the regional market, and to financing solutions.
More than 500 regional projects
By the end of August, the grow program did, then, mobilized in more than countries of the West Africa, more than 500 projects, of which 32% initiated by women. On investments sectors level, agribusiness takes the lion share, closely followed by infrastructures, industry, then comes technologies/innovation integrator projects. “This program over 12 months – 5 before the forum and 7 after – was thought to answer to reinforcement needs of maturity, to medium-sized businesses fund, but also bring solution to industrial investors and partners who participate to this kind of events, explains Adébissi Djogan, General Delegate of the Forum.
“Thanks to the advices given by experts, I differently approach the financing of my company challenges; the management, the transparency and the strategic plan are essential levers of attractiveness, that I was not seeing necessarily”, testify a Guinean in the BTP, selected in the current program. To this day, 75% of qualified projects passed a chain of tests of selection in order to enter in the Forum of the Banks Projects, with needs of financing accrued, estimated at 500 billion of FCFA.
« Facilitate or depenalize business practice in West Africa »
The free circulation of capitals in the heart of regional private sectors needs.
Challenges that selected companies leaders in the growth program are facing vary: 90% deplore control procedures disparate quality of CEDEAO space, 80% of no respect of the free exchange agreement, 75% lack of qualified talents, 70% the difficult access to financial services. “We are waiting that the Forum Invest in West Africa participate the framework and amplify the dynamic for decidors and investors, of solutions elaboration to facilitate even depenalize the business practice in West Africa. It goes with the competitivity of the region, development but also countries individually chosen. », explains a financial operator of the region.
For more information: www.investwestafrica.com