West Africa This Week: Startups Events Glimpses [October 1st – 7th, 2018]

By  |  October 7, 2018

Here are the notable events that kept West Africa’s startup ecosystem busy within the last seven days.

YEM Network Launched By JAK in Ghana

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The John Agyekum Kufuor (JAK) Foundation has launched the Kufuor Young Entrepreneurs Network (K-YEM), which is zeroing in on supporting young Ghanaian entrepreneurs in their growth and in the development of business skills.

The initiative would be assisting, consolidating and building sustainable enterprises by means of capacity building activities such as coaching, mentoring, training, seminars and access to funds. K-YEM would also establish local and foreign partnerships to further build the capacity of its members. Professor Baffour Aygemang-Duah, who is the CEO of the JAK Foundation, said that with an alliance of this caliber in support of the K-Yen initiative, members would be well-trained to embrace the crucial role of Small and Medium Enterprises (SMEs) play in the economy of Ghana.

National KAIZEN Forum Which Held In Ghana

The National KAIZEN forum, which is organized by Japanese and Ghanaian key players held, along which line Japanese Ambassador to Ghana, Tsutomu Himeno, on behalf of his country pledged to support the development of Small and Medium Scale Enterprises (SMEs) in Ghana.

During this event, Himeno explained that the main objective of the Japanese government is to ensure that African countries, Ghana especially, have a well-developed and sustainable industrial sector. According to him, the Japanese government is committed to ensuring that its African allies are well-empowered in order for them to make strides in the area of industrial development, hence, the resolve to provide the essential resources in order for that goal to be achieved. Himeno also expressed his satisfaction with the successful completion of the National Kaizen Project and as well disclosed that a proposition tailored to ensure a similar project with assistance from the Japanese government in the country had been made.

Fifth Edition Of Rebranding Africa Forum Held In Burkina Faso

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The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) held a sponsored event that was the fifth edition of the Rebranding Africa Forum (RAF in Burkina Faso from 5th to 6th October 2018. Several African Heads of States graced the event, Ministers and dignitaries from the Middle East and Africa (MEA) region including the President of Burkina Faso, Roch Marc Kabore, the President of Niger, Mahamadou Issoufou, the President of Ghana, Nana Addo Dankwa Akufo-Addo and the Minister of Economy, Finance and Development of Burkina Faso, Hadizatou Rosine Coulibaly amongst others.

ITFC announced initiatives for Africa, of which a USD 1.5 Bn Framework Agreement with Burkina Faso was prominent. The agreement involves the ITF contributing to the mobilization of financial resources to finance the export of agricultural commodities like cotton and the import of agro-inputs and foodstuff, including energy commodities like crude oil and refined petroleum products. The second announced agenda concerned the launch of the West Africa SMEs Program, tailored to improve access to trade finance for SME in eight West African countries. Hani Salem Sonbol, ITFC Chief Executive Officer, while speaking at the event said that Burkina Faso stands as ITFC’s top beneficiary in Sub-Saharan Africa. According to him, ITFC has formed a formidable relationship with the government to create an exemplary portfolio of operations which can be replicated in other countries.

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