COTE D’IVOIRE: SME DEVELOPMENT, MAIN OBSTACLES REVEALED

Source: www.africanakua.com | Chadon Abe, Cote D’Ivoire

On the occasion of the World Day of Small and Medium-sized Enterprises (SMEs) celebrated for the first time in Côte d’Ivoire, the Prime Minister of the Republic of Côte d’Ivoire received the Bank’s report (Bad) on Thursday, June 27, 2019 at the primate plateau. This study initiated by the Bad and led by the firm Spa identified the main obstacles to the development of SMEs.

This is the difficulty of accessing financing and supporting companies. The Secretary in charge of SMEs, Felix Anoblé, said that to reinvigorate the private sector proposal for solutions have been put in place in a number of areas. These are industrialization and improvement of the competitiveness of the sector, good governance and improving the business climate, the contribution of SMEs to wealth creation through strengthening and increasing the survival rate of SMEs and increasing private investment.

Welcoming the government’s efforts with the Prime Minister, he made a plea for better use of the Bad’s recommendations and the implementation of the SME promotion secretariat’s action plan. This, through the creation of a fund to support entrepreneurs and micro-enterprises, the signing of the decree on the establishment of the guarantee fund of 30 million among others.

Jocelyne Adé Legré, a representative of Bad, testified to Bad’s support for cooperation with Côte d’Ivoire and its ongoing commitment to the private sector, which amounts to 175 billion CFA francs mainly in the energy and transport sector. According to her, this study financed with the support of the cooperation fund between South Korea and Africa in the amount of 205 billion CFA francs is perfectly articulated with the vision of the Bad consisting in the development of a strong private sector through inclusive access to financial services.  She added that the most important phase of the study is the commitment of key players to work and implement programs in the roadmap.

According to her, after the validation of the government, the next steps will be the organization of seminars to raise awareness and ownership of the diagnosis and recommendations of the study to stakeholders; as well as the organisation of a workshop to make the identified axes and programmes.

For his part, Prime Minister Amadou Gon Coulibaly thanked The Bad for the initiative of this study, which will provide a basis for action for the government in the area’s development which helps to make decisions for the private sector and SMEs, he said.

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