Expanding investments in SMEs
June 9, 2023
Small and Medium Enterprises (SMEs) showcased their business ideas, products, and technologies on the sidelines of the Innovative Finance Lab’s second advisory board meeting and stakeholder roundtable discussion.
The IFL advisory board meeting, held in June 2023 in Addis Ababa, heard updates on the Technical Assistance Facility (TAF), held discussions on the alignment of MSME strategies, and reviewed and approved the design of the Enterprise Financing Facility (EFF).
The board also endorsed the formation of a regulatory sandbox, a platform for testing financial innovations (products and services), payment systems, disruptive business models and delivery mechanisms.
The 17-member board comprises representatives from the government, private sector, financial institutions, and development partners, with the National Bank of Ethiopia and UNDP co-chairing.
The SMEs showcasing at the advisory board meeting are part of the first cohort enrolled in a pre-and post-investment training and advisory programme.
The programme is part of the services provided by the recently established TAF, which is set up to support growth stage SMEs/start-ups with pre - and post - investment to strengthen their investment-readiness and create a strong pipeline of projects for the IFL’s investment fund – the Enterprise Financing Facility.
Tackling access to finance
Helping farmers access data fast
Solving cost of entry into the export market
Lack of access to finances, particularly accessing loan without collateral, limited market linkage and the novelty of their ideas and gaining trust by equity investors is highlighted by the SMEs as a key and common challenge that hinders their ability to expand and sustain their business and presence in the market.
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