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Development Bank of Nigeria Joins 140 Other Financial Institutions to Promote SME Finance
Washington, D.C. October 16, 2018 – The Development Bank of Nigeria (DBN) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses...
Approach to Enterprise Support is Failing Africa’s SMEs
Despite providing immense financial support for the economy, SMEs still face a multitude of challenges and lack support. According to the article, 72 percent of all startup funding went into only three companies in the region (Africa) in the span of two recent years. Supply and demand are the causes inhibiting SMEs’ access to support. On the...
Closing Africa’s MSME Finance Gap
Africa's Times of News , provided insights to the IFC estimation that Africa’s finance gap for small and medium enterprises (SMEs) stands at $331bn. Micro, small and medium enterprises (MSMEs) form the backbone of most African economies and investment in this sector will significantly enhance job creation and wealth development. The informal...
Member News: EIB Signs Agreement to Support Hungarian SMEs
SME Finance Forum member, European Investment Bank, signed four separate loan agreements totaling in €400 million that will benefit several projects. The loans are a part of the ‘Junker Plan’; one agreement worth €25 million will benefit Budapest Bank’s efforts towards increasing lending to Hungarian SMEs. “We are also pleased to sign the first...
White Paper: Opportunities and Challenges for SMEs in the Context of Increased Adoption of ICTS
The General Secretariat of the Organization of American States (OAS) and Amazon Web Services (AWS) released a report detailing the issues SMEs are plagued with when adopting information and communication technologies (ICTs). According to the report, SMEs tend to have increased challenges compared to larger companies when adopting ICTS. The report...
Annual Impact Investor Survey 2018
The Global Impact Investing Network (GIIN) released its annual impact investor survey, highlighting market activity and trends and covering topics such as: capital allocations by sector and geography, indicators of market development and industry challenges. Key findings in the report include: The market is diverse The impact investing industry is...
IFC and Top Tech Firms Drive Economic Opportunities for Women
Under the new initiative, ‘Digital2Equal’ led by IFC, a sister organization of the World Bank and member of the World Bank Group, seventeen leading tech companies have joined together to support this initiative focused on increasing opportunities for women. The companies participating include: Airbnb, Inc., Google LLC, LinkedIn, Didi Chuxing...
The State of Financial Inclusion in India
Medici examines the widening financial gap in India and their lack of push for institutional credit for consumers. With consumer debt to GDP at only 17 percent, India falls behind major economies of Asia Pacific. According to the article, “In the absence of institutional credit at fair interest rates for a majority of the population, people at the...
Access to Finance Rwanda Joins 140 Other Financial Institutions to Promote SME Finance
Washington, D.C. October 9, 2018 – Access to Finance Rwanda became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide...
First Look at the Global SME Finance Forum 2018 Marketplace
The Global SME Finance Forum 2018 will explore how innovation in technology, regulation and partnerships can help overcome various informality problems, and open up a far larger market for profitable, sustainable, responsible financial services. The Marketplace, an exclusive opportunity for B2B introductory meetings, had over 100 participants at...