IFC Signs Agreements to Increase Access to Business Training in Ghana
Accra, Ghana - IFC, a member of the World Bank Group, today announced new agreements with Fidelity Bank and the Association of Oil Marketing Companies to expand access to the Business Edge training program in Ghana. The program will help entrepreneur’s gain the skills needed to succeed and supporting small business growth in the country.
The two-year agreements will allow 200 small and medium enterprises in Ghana to access world-class management training and run more efficient businesses. Business Edge is an important part of IFC’s strategy to support smaller businesses in Africa. The interactive product has already helped more than 100,000 entrepreneurs in emerging markets improve their skills and profitability.
Mary-Jean Moyo, IFC Senior Country Manager for Ghana, said, “IFC puts a high priority on encouraging entrepreneurship in Ghana, which is supported by new partnerships and the expansion of the Business Edge solution. More robust small and medium enterprises are critical to creating jobs and generating growth for Ghana.”
Support for Business Edge is part of a broader effort by IFC to support the conditions for smaller businesses. Through efforts to encourage efficient and effective regulation in areas such as licensing, registration and taxation, IFC and its partners aim to improve entry points and other building blocks for small business success.
To improve access to finance, IFC collaborates with local financial intermediaries that enable SMEs to grow their businesses with affordable and tailored credit and investment. Inadequate access to finance constrains growth of small and medium businesses in Ghana and hinders job creation. Only 22 percent of all Ghanaian firms have access to a line of credit, a figure that falls to 13 percent among smaller companies.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.
About Business EdgeTM
IFC Sustainable Business Advisory Services is supporting the growth of small and medium enterprises. Working with partners in Africa, IFC has helped thousands of entrepreneurs access the finance and skills they need to realize their potential. Business Edge™ is a face-to-face IFC training system that helps SMEs more easily access markets by strengthening their management capacity. The training can be customized for specific countries and regions in Africa. For more information, including a full list of our corporate partners and accredited training firms, visit www.businessedge-africa.com.
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