Covid-19: Ecobank group and AUDA-NEPAD commit to supporting 100,000 African MSMEs by 2021

Economic governance
Thursday, 18 June 2020 13:55
Covid-19: Ecobank group and AUDA-NEPAD commit to supporting 100,000 African MSMEs by 2021

(Togo First) - Pan-African banking group Ecobank and the development agency of the African Union (AUDA-NEPAD) plans to support, post-covid-19, 100,000 African micro, small, and medium enterprises (MSMEs)

The two parties highlighted that by 2021, they will provide resources to guarantee existing jobs and create new ones across the continent. They will also make MSMEs more resilient and improve their access to the international market. 

The decision was reached during a recent virtual workshop hosted by McKinsey. On this occasion, Ecobank and AUDA-NEPAD stressed how important it is to preserve access to the market and boost the capacities of African MSMEs. 

The support includes five major projects, knowingly: AUDA MSME Academy, MSME Financing Support Programme, MSME Marketplace, MSME Micro-health Insurance Scheme, and the MSME digital platform.

Ade Ayeyemi, CEO of the Ecobank group, for his part, reiterated the engagement of the pan-African lender in the initiative. He specifically confirmed its support in building the MSME digital platform, creating content for the MSME Academy, and lending funds to African MSMEs. 

Ayi Renaud Dossavi

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