NEWS

GCB Bank and Invest In Africa (IIA) are pleased to announce the signing of an agreement that formally makes GCB Bank the newest partner of the initiative. IIA is a private sector initiative that brings together leading indigenous and international companies across sectors; actively working together to create a sustainable business ecosystem – by offering local enterprises access to finance, markets and skills that improves their competitiveness and accelerates their growth.

Launched in Ghana in September 2014, to date IIA has registered 1500+ SMEs, facilitated credit access of US$973K and tenders won valued at US$97.1M. GCB Bank’s Managing Director, Mr. Anselm Ray Sowah, explained that: "joining the Invest In Africa initiative further reinforces GCB Bank’s commitment to Ghana, to make a positive difference by supporting in the growth of local businesses.” On his part Invest in Africa Ghana’s Country Director, Mr. Clarence Nartey, stated that: “The partnership with GCB is yet another example of IIA’s commitment to building the right relationships to support SME development, local capacity building and job creation.”

GCB Bank, the largest indigenous financial institution in Ghana with 180+ branches and a strong digital banking backbone, promises IIA registered SMEs will benefit from short-to-medium term capital to enable them service tenders won on the African Partner Pool (APP); IIA’s flagship platform for accessing tenders. The partnership will also explore how SMEs shortlisted by GCB Bank for the Government’s One District One Factory (1D1F) industrialisation programme can benefit from the Business Excellence Programme (BEP); IIA’s flagship access to skills platform.

Large companies and organisations already supporting the initiative include: Tullow Ghana, MODEC, Newmont Mining, Ecobank Ghana, Societie Generale Ghana, Guinness Ghana Breweries, AB & David Law, the Millennium Development Authority (MiDA), the Association of Ghana Industries (AGI), Ghana Investment Promotion Centre (GIPC), EY, Africa Development Bank (AfDB) and Multimedia Group.

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Invest in Africa recognises the importance of the SME sector and works with the private sector and public sector bodies to create prospering African economies.

Invest in Africa (IIA) is a cross-sector initiative that seeks to do three things:

  1. Connect local suppliers (SMEs) to tenders issued by multi-national and large businesses
  2. Help local suppliers win tenders by giving them access to skills & financing through development agency supported training programmes and micro-financing initiatives

The African Partner Pool

Our flagship programme is our on-line platform that connects local suppliers in Ghana and Kenya to tenders

  • 2,843 local suppliers
  • 106 deals done
  • $97.1m worth of deals done
  • 21,000 jobs created

Business Linkage Programme

Invest in Africa’s capacity building programme offers training and consultancy for SMEs in Ghana and Kenya.

  • 262 SMEs trained
  • 162 contracts won by graduates from our programmes
  • $3m of contracts won by graduates on the APP

Financing & support for SMEs

IIA works with banks to help provide loans and financing to SMEs. Total value of finance accessed by IIA SMEs = $863,000 on track for $1m+ by Dec 2018

  • IIAs Credit Guarantee Scheme for SMEs in Kenya
  • 63 SMEs Trained by TRACE (Anti bribery certification provider)
  • IIA is co-organising an ‘SME finance conference’ connecting investors seeking to invest $1-10m into SMEs

Invest in Africa will continue to grow competitive local businesses in Africa, ready for global trade.

Invest in Africa recognises the importance of the SME sector and works with the private sector and public sector bodies to create prospering African economies.

Invest in Africa (IIA) is a cross-sector initiative that seeks to do three things:

  1. Connect local suppliers (SMEs) to tenders issued by multi-national and large businesses
  2. Help local suppliers win tenders by giving them access to skills & financing through development agency supported training programmes and micro-financing initiatives

The African Partner Pool

Our flagship programme is our on-line platform that connects local suppliers in Ghana and Kenya to tenders

  • 2,843 local suppliers
  • 106 deals done
  • $97.1m worth of deals done
  • 21,000 jobs created

Business Linkage Programme

Invest in Africa’s capacity building programme offers training and consultancy for SMEs in Ghana and Kenya.

  • 262 SMEs trained
  • 162 contracts won by graduates from our programmes
  • $3m of contracts won by graduates on the APP

Financing & support for SMEs

IIA works with banks to help provide loans and financing to SMEs. Total value of finance accessed by IIA SMEs = $863,000 on track for $1m+ by Dec 2018

  • IIAs Credit Guarantee Scheme for SMEs in Kenya
  • 63 SMEs Trained by TRACE (Anti bribery certification provider)
  • IIA is co-organising an ‘SME finance conference’ connecting investors seeking to invest $1-10m into SMEs

Invest in Africa will continue to grow competitive local businesses in Africa, ready for global trade.

To mark the second annual World SME (small to medium sized companies) Day — a day designed to highlight and celebrate the significant contribution SMEs make to the global economy -- Invest in Africa will has been discussing and promoting the importance of the SME sector.

The importance of SMEs is undeniable. SMEs account for over 95% of firms and 60%-70% of employment and generate a large share of new jobs, especially in developing nations. Watch our Kenya Country Director, Wangechi Muriuki, discussing World SME Day below.

Wangechi Muriuki

Invest in Africa recognises the importance of the SME sector and works with the private sector and public sector bodies to create prospering African economies.

Invest in Africa (IIA) is a cross-sector initiative that seeks to do three things:

  1. Connect local suppliers (SMEs) to tenders issued by multi-national and large businesses
  2. Help local suppliers win tenders by giving them access to skills & financing through development agency supported training programmes and micro-financing initiatives

The African Partner Pool

Our flagship programme is our on-line platform that connects local suppliers in Ghana and Kenya to tenders

  • 2,843 local suppliers
  • 106 deals done
  • $97.1m worth of deals done
  • 21,000 jobs created

Business Linkage Programme

Invest in Africa’s capacity building programme offers training and consultancy for SMEs in Ghana and Kenya.

  • 262 SMEs trained
  • 162 contracts won by graduates from our programmes
  • $3m of contracts won by graduates on the APP

Financing & support for SMEs

IIA works with banks to help provide loans and financing to SMEs. Total value of finance accessed by IIA SMEs = $863,000 on track for $1m+ by Dec 2018

  • IIAs Credit Guarantee Scheme for SMEs in Kenya
  • 63 SMEs Trained by TRACE (Anti bribery certification provider)
  • IIA is co-organising an ‘SME finance conference’ connecting investors seeking to invest $1-10m into SMEs

Invest in Africa will continue to grow competitive local businesses in Africa, ready for global trade.

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Invest In Africa-Kenya is carrying out a week-long business skills training in Lodwar, Turkana County. The event being held at the Lodwar Vocational Training Center has attracted over 30 SMEs from the region.

The aim is to empower SMEs and build their capacity to respond to the needs of the Oil and Gas industry supply chain. Some of the topics covered in the training include Strategy, Governance, Financial Management and Business Planning , ICT among others.

The training is in partnership with The Deutsche Gesellschaft für Internationale Zusammenarbeit GmbHzz (GIZ), Employment for Development (E4D) SOGA, Shell, Tullow Oil & Kenya Federation of Master Builders (KFMB).

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On Thursday 25th May, Invest in Africa hosted an exclusive briefing event featuring the Ghana Deputy Minister of Trade and Industry, Hon. Robert Ahomka-Lindsay on Ghana’s investment prospects and opportunities at EY London.

Hon. Robert Ahomka-Lindsay shared the current administration’s priorities to, within the next four years, make Ghana the most attractive investment destination in Africa once again. According to the Deputy Minister, priority industries include aluminium, garment & textiles, industrial salts (alkaline), pharmaceuticals and petro-chemicals (gas and crude).

Nurturing and supporting the current job creators in the Ghanaian economy is another focus of the current administration. Hon. Ahomka-Lindsay discussed how the government have begun a stimulus programme for companies with the greatest job creation potential by providing them with tax breaks and other monetary incentives to help them stay in business and create more jobs.

The Deputy Minister also highlighted the country’s bureaucratic structures as an obstacle to doing free and open business, explaining how the government already has plans in place to successfully de-bureaucratise these systems.

He expressed his delight to be working with Invest in Africa to drive investment and create new opportunities with local SMEs. Invest in Africa’s online platform, the African Partner Pool (APP), connects SMEs to large companies helping SMEs access new tenders, training and finance.

With an historic election in the rear view for the country, Ghana sits at a crossroads in its economic and development strategy. Once the beacon of the Africa rising narrative, Ghana’s tumultuous economic growth, energy crisis and falling commodity prices in recent years have caused some panic and anxiety within the general public. However, Hon. Ahomka-Lindsay believes the country’s best days are still yet to come.

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On Thursday the 1st of June, Invest in Africa, in collaboration with Business Council for Africa, hosted an event featuring Ghanaian businessman and politician, Dr. Papa Kwesi Nduom, on the economic climate in Ghana post-elections at Simmons and Simmons.

Increasingly, Ghana has been victim to setbacks in economic growth due to a power shortage phenomenon. However, the new administration has promised an end to this economic hardship and the rampant unemployment among youths.

Dr. Papa Kwesi Nduom, with his experience in diverse business ventures and as founder of the Progressive People’s Party (PPP), examined the current business conditions to provide prospective solutions. He explained that while Ghana’s economic environment is good, systems need to be put in place to allow for the available opportunities to be cultivated. To achieve this, Nduom’s focus was on deregulation: the government must remove their influence on business transactions in the private sector. Furthermore, the underdevelopment of the infrastructure sector provides a promising opportunity for private sector actors to take advantage of; funding should be provided by the private sector and not the state.

Prosperous economies are characterized by increased efficiency, as transaction costs are reduced, and Nduom also suggested the re-allocation of the transportation, energy and water sectors to the private sector. In having focus and financial support fine-tuned to specific sectors, actors would not be overwhelmed with the responsibility and each can strive to achieve maximum functioning in their respective specialities.

Lastly, Nduom placed an emphasis on the importance of education, a sector where government expenditure should be directed. This will lead to an increase in the educated populace, the creation of more jobs and the potential for economic growth.

Invest in Africa’s (IIA) mission is to boost the economies in African countries. IIA strives to achieve this by pooling industry resources, knowledge and networks to support job creation and the development of local businesses. Their programmes, which include the Business Excellence Programme (BEP), function to improve human capital or the standards of local. In addition, the African Partner Pool (APP), a pioneer cross-sector business directory, makes local sourcing more efficient by connecting larger firms and local SME’s; thus creating a level playing field and delivering wide a socio-economic benefit.

Currently, the new administration in Ghana seeks to build the most business-friendly economy in Africa. The President believes this goal, which will create business and employment opportunities can be achieved through empowerment of the private sector.

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www.africanpartnerpool.com. Another initiative of Invest In Africa is the Business Excellence Programme, a combined Development Partners & Private Sector funded programme with the aim of building businesses to be more competitive.

 

Sam Brandful, the Ghana manager for Invest in Africa expressed the view that the collaboration with the GSA will guide local businesses to expand, understand and meet Ghanaian and international standards and empower local businesses to support the the Ghanaian economy while addressing major challenges which affect their growth.

Ghana Standards Authority joins the cross sector group of companies that IIA is currently working with through various initiatives. These include: Tullow Ghana, EY, AGI, AB & David Law, Ecobank, Modec Ghana, UT Bank, GIPC, Millennium Development Authority (MiDA), Newmont Mining, Guinness Ghana, GE, AFDB,FMO, B&FT, Multi Media Group (MMG) and Dun and Bradstreet.

 

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Ghana Standards Authority and Invest in Africa have signed a joint Memorandum of Understanding (MOU) that aims to make Ghanaian businesses, especially SMEs, become more competitive locally and globally through improved quality and access to financial and technical support.

Following the 2016 African Partner Pool (APP) Business Forum which was held under the theme of “Creating Thriving Businesses through Taxation & Quality Standards,’ the relevance of information on quality standards for business growth was evident and this has led to the signing of this Memorandum of Understanding to help bridge the knowledge gap of Ghanaian businesses, especially the SMEs.

This MOU will allow Invest in Africa to advertise the services of the Ghana Standards Authority (GSA) on the Invest in Africa and African Partner Pool websites, with direct links to the GSA website so as to inform and simplify the process of accessing the services of GSA.. SMEs will also have the opportunity to participate in events, training programmes and forums that focus on quality standards and their application to business growth and development.

The Ghana Standards Authority (GSA) which is the National Standards body was established by the Standards Act 1973 (NRCD 173). The Authority is also the custodian of the Weights and Measures Act (NRCD 326, 1975). These legislations together mandate the Authority to undertake: national standards development and dissemination, product certification scheme, pattern approval of new weighing and measuring instruments, destination Inspection of imported high risk goods, advise the Ministry of Trade, Industry, on standards and related issues amongst others.

Signing the MOU, the Executive Director for Ghana Standards Authority, Prof Alex Dodoo pointed out the need to create awareness for the services of the Authority, and their readiness to facilitate, direct and assist SMEs to produce quality made in Ghana goods and access their services to meet the required standards.

Invest in Africa (IIA), a cross-sector partnership of companies with the vision to create thriving African economies, has been set up to give businesses access to skills, finance and new markets. This is done through its key initiatives the African Partner Pool (APP), an online business platform that connects international companies to validated local businesses. www.africanpartnerpool.com. Another initiative of Invest In Africa is the Business Excellence Programme, a combined Development Partners & Private Sector funded programme with the aim of building businesses to be more competitive.

Sam Brandful, the Ghana manager for Invest in Africa expressed the view that the collaboration with the GSA will guide local businesses to expand, understand and meet Ghanaian and international standards and empower local businesses to support the the Ghanaian economy while addressing major challenges which affect their growth.

Ghana Standards Authority joins the cross sector group of companies that IIA is currently working with through various initiatives. These include: Tullow Ghana, EY, AGI, AB & David Law, Ecobank, Modec Ghana, UT Bank, GIPC, Millennium Development Authority (MiDA), Newmont Mining, Guinness Ghana, GE, AFDB,FMO, B&FT, Multi Media Group (MMG) and Dun and Bradstreet.

 

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Invest in Africa Ghana has announced the appointment of Mr Clarence Nartey as its new Country Manager effective 4th September 2017. He succeeds Mr Sam Brandful, who has successfully lead Invest in Africa for the past 4 years.

Mr Nartey founded 3i Consult Ltd – a Pan-African Marketing Strategy & Talent Development Consultancy in 2016.

Prior to setting up his consultancy, he was the Marketing Director for Unilever Ghana (and also served on the board of directors) from July 2013 to end of 2015.

His corporate career (with the multi-national giant, Unilever) spanned 15 years. During this period Mr Nartey held several senior multi-functional roles in operations, audit, marketing and strategy development across South Africa, Turkey, Singapore and Ghana.

Mr Nartey assumes responsibility for the running of IIA Ghana after a number of landmark achievements, overseen by his predecessor Mr Brandful, including the launch of the African Partner Pool (APP), an online portal connecting Ghaian businesses to larger corporates tenders, as well as the the Business Linkage Programme (BLP), a business skills accelerator scheme run specifically for Ghanaian SMEs.

Invest in Africa (IIA), is a cross-sector partnership of companies that has been set up to provide access to new markets, skills, and finance to SMEs while reducing the risk of Multi National Companies (MNCs) or larger companies doing business in Africa.

Key partners of IIA include: Tullow Ghana, EY, Association of Ghana Industries (AGI), AB & David Law, Ecobank, Modec Ghana, GIPC, Millennium Development Authority (MiDA), Newmont Mining, Guinness Ghana, GE.

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Invest in Africa has partnered with the Kenya Extracives Programme (K-EXPRO) to run a Credit Guarantee Scheme in Turkana, Kenya. The aim of this initiative is to help SMEs improve their credit, making it easier for them to access finance without having to give collateral.

TURKANA RECRUITMENT DRIVE

On the 17th January 2018, Invest in Africa is conducting a Supplier recruitment drive at the Enterprise Development Centre (EDC), located at the Tullow Community Resource Centre (TCRC), Lokichar. The Supplier Recruitment Drive exercise targets to recruit and introduce SMEs to the Credit Guarantee Scheme. It will also give the local suppliers an opportunity to:

  • Meet and network will fellow suppliers and APP Partners.
  • Register and learn how to utilize APP features, which include; access tenders on @APPTenda-Space and promoting your business on @APPBiashara-Network
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