Microfinance Focus, September 21, 2011: World Bank’s International Finance Corporation (IFC), as part of its Business Edge program, signed three partnerships to increase access to business training in Burkina Faso and Ghana. This is intended to help entrepreneurs gain skills they need to succeed thus supporting small business growth in the country. The two-year agreements will allow thousands of people in Burkina Faso and Ghana to access world-class management training and run more efficient businesses.

IFC has signed agreements with three institutions, two in Burkina Faso and a third in Ghana. The partners are: Maison de l’Entreprise du Burkina Faso (MEBF), a non-profit association that supports private sector development in Burkina Faso with more than 750 members; PILOTES SARL, which operates the website Burkinapmepmi.com to provide information, education, training, promotion and internet visibility to SMEs in Burkina Faso; and The West Africa Civil Society Institute (WACSI), which aims to strengthens the institutional and operational capacities of civil society in West Africa through training, research and policy advocacy. WASCI is based in Ghana and operates in 15 countries in Africa.

Business Edge is an important part of IFC’s strategy to support the growth of smaller businesses in Africa. “The expansion of Business Edge solutions will support the growth of smaller businesses in West Africa. Supporting smaller businesses is a major focus of IFC’s work and a stronger SME business sector in West Africa will help create employment and generate growth in the region” said Mary-Jean Moyo, IFC Country Manager for Burkina Faso and Ghana.

Furthermore, IFC focuses on improving the business environment for SMEs and access to finance. By focusing on the regulatory problems that impact SMEs most (such as licensing, registration and taxation) IFC and its partners can create entry points for the other building blocks of the approach. To improve access to finance, IFC collaborates with local financial intermediaries that enable SMEs to grow their businesses with affordable and tailored credit and investment.