100,000 Businesses To be Supported By Ecobank Group and Partners
The Ecobank Group and The African Union Development Agency NEPAD (AUDA-NEPAD) have launched a $2 million fund to support 100,000 Micro, Small, and Medium Enterprises (MSMEs).
AUDA-NEPAD begun the 100,000 MSMEs Programme to aid African economic transformation, provide the needed skills, and build resilience against the economic shock triggered by the global pandemic.
The initiative aims to grow the capacity of 1,000,000 enterprises in Africa by entrepreneurial and business training to improve access to finance and new markets while establishing networks for support and incubation to bolster their success.
“Across the globe, MSMEs are the biggest and the best engine of innovation, social transformation and economic development and growth.
AUDA-NEPAD is deeply convinced that Africa structural transformation will be driven by youth and women led businesses and innovations.” Said the Director of Programme Delivery and Coordination Directorate, AUDA-NEPAD, Mr Amine Idriss Adoum.