News & Analysis: SMEs

Africa’s agricultural sector faces up to COVID-19 crisis

“African farmers have begun to experiment with apps and new technologies. Meanwhile, policymakers and relief organisations are refocusing on food production and provision. Pioneering policymakers are prioritising food security and shifting to clean energy sources, such as hydroelectric and solar.”

via African Business Magazine

COVID-19 has exposed private sector investment opportunities

“Nearly 1.6 billion people’s livelihoods are now threatened, with the greatest impact being felt by those in the informal sector. However, the pandemic has also brought to the fore numerous opportunities in that the private sector can now harness.”

via Daily Monitor

Supporting small businesses to access finance for COVID-19 resilience

“The COVID-19 pandemic has affected many businesses, including small and medium enterprises in the cocoa sector that provide critical services to smallholder farmers in Ghana. Access to timely and affordable finance is essential to fueling the growth of these enterprises during this pandemic.”

via BFT Online

World Bank Approves $86 Million to Improve Access to Financial Services for Micro, Small and Medium Enterprises in Malawi

“‘This project is an important element of the World Bank Group’s response to COVID-19 in Malawi, from relief, through re-structuring, towards ensuring a resilient recovery. This project contributes to relief efforts, with a clear focus on helping communities and businesses persist and find new opportunities.'”

via World Bank

World Bank Approves $86 Million to Improve Access to Financial Services for Micro, Small and Medium Enterprises in Malawi

“The World Bank Board of Executive Directors recently approved an $86 million credit for the Malawi government to increase access to financial services and promote the entrepreneurship and capabilities of micro, small, and medium enterprises in Malawi, including addressing the negative economic effects of COVID-19.”

via World Bank

Kenya enhances its cash transfer programmes in response to the COVID-19 pandemic

“At the onset of the pandemic, the Central Bank of Kenya announced measures that saw banks and mobile money operators waive fees on transactions below US$10 to encourage the use of cashless modes of payment. Banks also announced the restructuring of loans for longer repayment terms for individuals, SMEs and corporates affected by the crisis.”

via FSD Kenya

Kenyan banks stable but lending frozen

“Kenya’s banks are well capitalised and have good liquidity, but if they do not overcome their aversion to risk businesses will be starved of the credit they need to recover from COVID-19.”

via African Business Magazine

Ghana COVID-19 Business Tracker Report

“The results show that about 770,000 workers (25.7% of the total workforce), had their wages reduced and about 42,000 employees were laid off during the country’s COVID-19 partial lockdown. The pandemic also led to reduction in working hours for close to 700,000 workers.”

via Ghana Statistical Service, UNDP, World Bank

African Development Bank Group supports Ghana’s COVID-19 response plan with $69 million grant

“The Board of Directors of the African Development Fund on Friday approved a $69 million grant to support Ghana’s efforts to tackle the COVID-19 pandemic and mitigate its socio-economic impact on the nation.”

via AfDB

How young entrepreneurs are surviving the pandemic

“This has been the most frightening and exhilarating time, to say the least. In all the business we’ve had to make extreme changes overnight from drastically cutting expenditure, navigating late payments from clients, reshuffling cancelled projects and sleepless nights on how we are going to get through the month, let alone the year.”

via Daily Maverick