The Aspen Institute of Development Entrepreneurs (ANDE), a global network of organizations that propel entrepreneurship in developing economies has equipped enterprise support organizations and capacity-building agencies among others with critical skills and tools to build and sustain robust entrepreneurial ecosystems.
ANDE believes that small and medium-scale enterprises (SMEs)/ small and growing businesses (SGBs) are powerful and hold the key to socio-economic development in developing countries, yet remained an underleveraged tool in addressing social and environmental challenges, hence the need to build the capacity of support agencies and organizations to better the ecosystem.
Speaking to the media during the two-day intensive capacity-building conference, held at the Kempinski Gold Coast Hotel, Accra Ghana, for both Francophone and Anglophone West Africa, Managing Director, ANDE, Kyle Newell, indicated that this year’s Programme is focused on offering tangible opportunities to network, collaborate, and learn, by identifying snapshots of entrepreneurship ecosystems and developing solutions.
“We are bringing people together from an entrepreneurship perspective to develop solutions to address issues with entrepreneurship transformation, help enterprises supporting SGBs to get funding support from financial institutions globally, and using advocacy to help raise the voice of SMEs.
SO, we bring together the organizations that are helping to develop the entrepreneurs and we have about 50 members in West Africa working with about 100,000 entrepreneurs and networks,” he said.
The sessions focused on cross-cutting sector issues such as gender equality, climate and environmental action, employment, and economic growth.
Representing the Enterprise Development Center of Pan-Atlantic University, Nigeria, Peter Bamkole, stated that SMEs/SGBs that leveraged on technology during and post COVID-19, are thriving and those that hesitated are struggling to survive. He, therefore, urged entrepreneurial support agencies to consider how to enable these businesses to embrace technology in its simplest form to turn around their business.
Furthermore, he said: “The challenges mentioned at the top of the list in hindering growth among SMEs include lack of access to market, support services, cheap power, finance, and information. Prior to the use of mobile technology, it was difficult to link excess supply to demand but with access to information through the mobile phone, it is easier to connect now, showing how relevant information is.
Today technology makes our lives easier, especially for small and growing businesses. Everybody with a mobile phone that has internet connectivity is already having a powerful tool for the investment and development of a business.”
Impact Investing Ghana Board Member/Managing Director Ghana Venture Capital Trust Fund, Hamdiya Ismaila, on her part stated that the kind of funding support entrepreneurs need is not that of the banks. She therefore called for enterprise support agencies to collaborate with venture capital organisations that can provide long term funds at flexible rates to start up.
The ANDE West Africa Regional Conference was partnered by development agencies such as Impact Investing Ghana, Dutch Entrepreneurial Development Bank (FMO), German Development Agency (GIZ), Center for International Private Enterprise, Aspire Corporate Trust (ACT) Foundation and Platform for Agricultural Risk Management (PARM).
