Dun&Bradstreet(D&B) Ghana and Invest In Africa, IIA, have signed a Memorandum of Understanding (MOU), to support small and medium scale enterprises(SMEs) to make them investor ready through credit referencing.
With the signing of the MOU, it is expected that IIA and D&B will support SMEs on the African Partner Pool (APP) by; providing Information from D&B on the best way to manage books in order to easily access investment and finance, providing consent for D & B to conduct a credit report for SMEs, and share it with potential investors and partners.
D & B will also be the exclusive Credit Information Reporting Company through which all foreign companies seeking to do business with local companies on the APP can obtain a business profile report or credit information report
IIA, a cross-sector partnership of companies with the vision to create thriving African economies, has been set up to give businesses access to skills, finance and new markets. This is done through its key initiatives the African Partner Pool (APP) an online business platform that connects international companies to quality validated local businesses. www.africanpartnerpool.com.
Another initiative of Invest In Africa is the Business Excellence Programme, a combined Development Partners & Private Sector funded programme with the aim of building businesses to become more competitive.
Dun & Bradstreet is the leading provider of business information for risk management, sales & marketing, supply management and risk consulting decisions worldwide.
Signing the MOU, Adebowale Atobatele(D&B Ghana Country Manager)said: “We are excited about our partnership with Invest in Africa. It forms a core part of our objective in Ghana which is to create and deliver superior value to all stakeholders. Our partnership with Invest in Africa (Ghana) will help boost the confidence of investors in Ghanaian businesses while at the same time help local business and their owners develop the right profile to attract the right type of investments or financing that they require to grow their business.”
The APP Manager, Ibrahima Aminu stated that, ‘’this is one of the initiatives IIA is taking to prepare SMEs for access to finance, the agreement with D&B will be of immense value to the SMEs on the APP as it will assist the SMEs on the APP to understand the requirements of financial institutions in applying for access to finance’’.
Dun & Bradstreet joins the cross-sector group of partners that IIA is currently working with which includes Newmont Mining, Tullow Ghana, AB & David Law, GE, Millennium Development Authority (MiDA), Ecobank, UT Bank, Guinness Ghana, EY, GIPC, Modec Ghana, Societe Generale, AGI, GIPC.