Browsing: SME

SMEs in Market in Djibouti
  • 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

Hello Pay provides a range of loan amounts, from R30,000 up to R250,000. In addition, the Hello loans’ interest rates are among the industry’s most reasonable rates. Anyone interested in expanding their company is eligible to apply for a loan; Muslim business owners are not the only ones who can do so. The loan can be repaid by the proprietors of the business over a period of up to a year.

“We provide entrepreneurs with the assistance they require to grow into profitable and sustainable enterprises.” Given the enormous challenges that SMEs face, Hello Pay is delighted to play a role in connecting thousands of meriting business owners with solid financial services so that they can focus on running their businesses and providing necessary goods and services to millions of South Africans” Miya explains.

According to Miya, the primary duty of recovering the economy and producing millions of new jobs …

In the developed world corporates have big IT budgets so software is built, bought, integrated into existing systems because skilled developers and software packages tailored to meet the needs of businesses are abundant as corporate spend on IT.  

Throughout East Africa there are incredible inefficiencies in the SME business section all the way up to large corporates who struggle with limited budgets and limited skilled people to develop IT solutions and no-code platforms and tools mitigate these challenges by being both, affordable and easy for non-technical people to learn and use.…