Browsing: MSMEs in Africa

• The 3.9 million Euro donation will go towards the World Bank’s MSME Business Development Project in Djibouti, which provides MSMEs business support
• It is believed that barely 5% of the Djibouti’s formal firms receive bank financing
• Financial institutions, public institutions, and MSMEs-supporting programmes are among the intermediate beneficiaries

The World Bank and the European Union Delegation in Djibouti signed an Administration Agreement on behalf of the European Union to help Djibouti’s Micro, Small, and Medium-Sized Enterprises grow (MSMEs).

The 3.9 million Euro donation will go toward the World Bank’s MSME Business Development Project in Djibouti, which provides MSMEs with services such as digitisation, improved accounting procedures, credit applications, business planning, and legal and marketing strategies.

It will also help create a virtual “one-stop-shop” where MSMEs can apply for permits and other services all in one spot. The European money will be channelled through the MENA Regional Umbrella Multi-donor Trust Fund …

The simple, no-code Tripesa platform makes it possible for proprietors of small businesses in the tourist and hospitality industries to conduct online sales and manage all aspects of their companies.

The platform makes it possible for a micro, small, or medium-sized organisation (MSME) in the tourism industry to construct and administer a website, collect bookings and payments, and access a dashboard for managing client relationships even if they have no prior experience with IT.

Over 260 travel and tourist enterprises from Uganda and Kenya are registered on the Tripesa platform.…

• New data now shows that over 40 per cent of Small and Medium Enterprises (SMEs) in Africa are earning more money than before the pandemic
• Mastercard indicates that 46 per cent of SMEs in Africa, Eastern Europe, and the Middle East have surpassed pre-pandemic levels
• Online business and international sales are key drivers, with seven in ten (71 per cent) recording above-global-average growth in online sales, while 77 per cent are planning to do more business internationally

Over 40 per cent of Small and Medium Enterprises (SMEs) in Africa are earning more money than before the pandemic.

New data by Mastercard indicates that 46 per cent of SMEs in Africa, Eastern Europe, and the Middle East have surpassed pre-pandemic levels.

According to the Borderless Payments Report, online business and international sales are key drivers, with seven in ten (71 per cent) recording above-global-average growth in online sales, while 77 per …

The African Union (AU) announced its plan to put in place a guarantee scheme for micro, small, and medium-sized enterprises (MSME) to speed up the economic transformation of the continent.

The director in charge of delivery program and coordination at the African Union Development Agency (AUDA-NEPAD), Amine Idriss Adoume said that lack of affordable finance is one of the biggest impediments for the expansion of small businesses in Africa.

Speaking during the launch of the Pan-African MSME Academy for Kenya, Mr. Adoume said: “The scheme will be developed jointly with partners and seeks to unlock access to affordable finance for the continent’s small businesses.”

The Pan-African MSME academy plans to launch across Africa with specific content for each country in line with local business environments.

According to Mr Adoume, the academy has been positioned to enable small entrepreneurs to achieve sustainable growth as they emerge through the COVID-19 pandemic.…