International Forum to address importance of SMEs for Africa’s development

The importance of Small and Medium Enterprises (SMEs), also known as the Missing Middle, to Africa’s development will be the focus of an international forum to be held in Lisbon, Portugal.

At the sidelines of the Africa Development Bank (AfDB) Annual Meetings to be held from June 6 to 10, 2011, the AfDB-EMRC SME Forum would be held to discuss a common vision and establish tangible policies to ensure financing for the sector.

In a press release issued by the organizers, EMRC International, and copied to ghanabusinessnews.com, the forum is designed for entrepreneurs, policy makers, financiers and bankers as well as African development experts.

“Discussions will concentrate on the Missing Middle as an opportunity for investors to achieve competitive financial returns and positive social impact,” it says.

The forum, the organisers say will bring together leading figures and stakeholders to discuss a common vision and establish tangible policies to ensure financing for the SME sector in Africa.

The release indicates that the instruments currently used (guarantee funds, dedicated private equity initiatives, commercial bank lending and others) as well as successful financial innovations (credit scoring, payment systems, and financial products) will also be analyzed.

Adding that, best practices of banks, venture funds, other financial intermediaries as well as SME non-financial support institutions will be showcased in an effort to accelerate commitments for this very important enterprise segment.

By Emmanuel K. Dogbevi