African Development Bank SMEs Empowerment 2023 | The African Development Bank (AFDB) has open portal for Business Linkage Program to support the growth of small and medium-sized enterprises in the country. Is your Business need empowerment? If yes, apply Linkage Program.
Objectives: To enable them to achieve economies of scale and create better employment opportunities for women and young people in key sectors of the Malagasy economy, in order to reduce inequality and poverty by building on private sector development.
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information.
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SME “Business Linkage Program, this programme, which already exists in Ghana and Senegal and is being prepared for the G5 Sahel countries, contributes to achieving one of the African Development Bank’s major objectives: to stimulate economic growth and social progress in Africa.
Benefit:
- participating businesses benefited from a capacity building programme in entrepreneurial culture, diagnostics, business plan development, and training in managerial skills, coaching and mentoring, as well as facilitating business linkages. Beneficiaries were also given the opportunity to undertake immersion internships in established companies.
- The market access component, which concerns the establishment of a digital platform for connecting micro, small and medium-sized enterprises with large established companies, is underway. This platform, which will be called “Mada Business Linkage”, will allow – among other things – large companies involved in the provision of goods and services to publish their needs for micro, small and medium-sized enterprises, via a registration and listing system. The platform will be operational in early 2023; initially dedicated to the beneficiary companies of the programme, it will then be open to any formal company duly registered.
- “access to financing” component, a credit guarantee system has been set up with two local partner banks to promote access to financing for small and medium-sized Madagascan companies, so that they can respond to requests from large companies. This can be cash flow or investment financing. The partnership agreements are about to be finalised.
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Eligibility:
- Small and medium-sized Malagasy companies with a strong potential for commercial links with large companies
- 150 small and medium-sized enterprises will be selected to participate.
How to Apply
Interested Applicant Click Here
Application Deadline: October 5, 2023