Douala, Cameroon, June 1, 2012
—IFC, a member of the World Bank Group, today launched its SME Toolkit product in Cameroon, increasing its support for entrepreneurs and small and medium sized businesses to help grow the economy and jobs in the country.
IFC’s SME Toolkit is a product consisting of software, business forms, tools, articles and training
designed to leverage information and communication technologies to provide critical information, tools, and training to SMEs in emerging markets.
IFC has partnered with the consulting firm Finafrique in Cameroon to implement the SME Toolkit program. Finafrique specializes in training in the banking, finance and insurance sectors.
Henri, Rabarijohn, IFC Country Manager for Cameroon, said, “Supporting the growth of smaller businesses is a major focus of IFC’s work in Africa. In addition to the Business Edge program launched three years ago, the launch of SME Toolkit in Cameroon demonstrates IFC’s commitment to supporting private sector growth in the country.”
Fabrice Kom Tchuente, CEO of Finafrique said, “We are very eager to partner with IFC to implement this product in Cameroon. We’ll do everything we can to allow SME owners and managers to access to SME Toolkit content, which will help them to better structure and expand their business.”
The SME Toolkit consists of web-based software which allows users to access information in their preferred language. Partners include banks and corporations, NGOs, private companies, government agencies and training firms. The SME Toolkit has already helped thousands of entrepreneurs in emerging markets in Africa and around the world improve their skills and develops their businesses. The website receives over 5 million unique visitors a year.
IFC has already trained 11 SME Toolkit trainers from Finafrique to deliver SME Toolkit training in Cameroon, where small businesses dominate the private sector. There are about 14 000 SMEs in Cameroon and account for about 85% of Cameroon's private sector, generating more than 200 000 fulltime jobs.
IFC’s strategy in Cameroon includes increasing support to the small and medium-sized business sector, improving the business climate, and supporting direct investments in key sectors such as energy and infrastructure.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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