Promoting SME competitiveness in Francophone Africa: Improving access to finance for inclusive growth
One in three companies in French-speaking Africa is in a difficult financial position, according to ITC research.
While it is evident that their financial situation is closely tied to their economic performance, evidence shows that their growth rests on access to finance. Yet one fourth of applications in the region are rejected, most of them owing to insufficient collateral or to a high risk of default. Moreover, the joint survey with the Permanent Conference of African and Francophone Consular Chambers in 17 French-speaking countries in Africa shows that financial training and information are key to improving access to finance.