Ghanaian Micro, Small and Medium Enterprises (MSMEs) are to benefit from a new Academy that will support African MSMEs to address challenges of access to capacity building, markets and capital.
The initiative spearheaded by the African Union Development Agency– AUDA-NEPAD and the Ecobank Group is under the “100,000 MSMEs by 2021” programme.
A statement from the AUDA-NEPAD and Ecobank said the MSME Academy would provide easy access to practical training and resources on financing opportunities in various countries, how to build digital presence for businesses and how to adapt business operations in the era of the COVID-19 pandemic.
The programme support is structured in three pillars, namely: the MSME Academy, MSME Marketplace and MSME Financing Support Programme to be delivered through an MSME Digital Platform.
The Panafrican MSME Academy will offer free access to market intelligence, a host of mentors with diverse experience, while assisting with access to funding opportunities.
Lessons would be in the form of an informational webinar with invited speakers, a series of virtual instructor-led trainings and mentorship for the MSMEs.
The first in the series of informational webinars tailored for MSME operating in Ghana, which will also address access to finance and building a digital presence, is scheduled for August 21, 2020.
The AUDA-NEPAD 100,000 MSMEs programme is focused on the implementation of the Agenda 2063 Aspiration number one, which aims at building a Prosperous Africa, based on Inclusive Growth and Sustainable Development.
The MSME Academy aims to build the capacities of MSMEs across Africa through a combination of relevant content library, a network of institutions specialized in MSME support such as incubators and accelerators, and a community of peers, mentors and advisors.
The MSME Marketplace is a consolidated marketplace of marketplaces, enabling MSMEs to access e-commerce, procurement and alternative financing opportunities across the continent
The MSME Financing Support Programme is a scheme that will bring together financial institutions, guarantee funds and other institutions to reduce the cost of risk for lenders to deliver capital to MSMEs at scale.
The objective is to radically expand access to finance by aggregating smaller financial institutions such as micro-credit institutions and credit unions that have access to micro-enterprises, standardising their processes and building trust in their capabilities.
The MSME Digital Platform is a one-stop-shop for all MSMEs across Africa to access all these three programmes which jointly address MSMEs’ challenges with access to capacity building, markets and capital.