Africa’s 300 SMEs to meet in Senegal in November

Africa’s 300 SMEs to meet in Senegal in November

More than 300 small and medium enterprises operating in Africa will meet on 11-12 November 2014 in the Senegalese capital Dakar in what is believed to be the first direct access platform for funding.

The first Africa SME Champions Forum – as it is called – is organised by Ecobank, AfricSearch and African Guarantee Fund.

SMEs that fulfill the following conditions can attend:

• They must be officially registered in Africa,
• Have been legally created at least three years ago,
• Have turnover of at least $1.5 million,
• And a minimum workforce of 10 employees

In addition to these 300 SMEs, a number of financial institutions will be present, as well as high-quality experts and policymakers.

“This forum will be the first direct access platform to finance for the SMEs,” Didier Acouetey, founder of recruitment agency AfricSearch, said in a statement.

SMEs represent 90% of privately-owned African companies, 33% of the continent’s GDP and account for 45% of new jobs. But they face serious challenges, especially the funding problem.

“SMEs are vascularing the African economy,” Acouetey added.

“The African champions will be at the heart of the transformation of the continent,” Gervais Koffi Djondo, co-founder of the Ecobank group, said.

Submit your application on the forum site: www.africa-smechampions.com

Photo: Homestrings

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