Having sufficient access to finance is an important determinant for the development of an enterprise. It is a well-known phenomenon that SMEs face different challenges when accessing finance than large scale enterprises (LSEs). LSE’s for instance, have direct access to capital markets whereas for SMEs this holds to a lesser extent or they have no access at all. Ultimately, the specific financing needs of SMEs warrant specific policy attention.
Washington, D.C. November 27, 2018 – HCM Capital (HCM) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
“200 million businesses worldwide need financing to invest, grow and create new jobs. We are proud to have HCM join our network of 150 members who work to expand access to finance for small and medium businesses,” said Matthew Gamser, CEO of the Forum.
The London Stock Exchange released a report detailing the issues faced by SMEs and opportunities with financing in Africa.
SMEs account for about 90 percent of Africa’s businesses and the driving force of the continent’s economic development, yet they are still facing financial barriers.
Key challenges SMEs are facing include:
Washington, D.C. November 6, 2018 – Accion became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
There is not just one "missing middle" but rather multiple missing middles in terms of the financing needs for the diverse types of small and growing businesses (SGBs) in emerging and frontier markets.
Bank of Palestine was established in 1960 to serve Palestinians of all socio-economic groups. With a network of 70 branches, 31 percent market share of deposits, 33 percent market share of loans and more than 890,000 customers, the bank serves retail, corporate, small and medium enterprises, microenterprises, and the Palestinian diaspora. The bank has been listed on the Palestine Exchange since 2005, and it is the second largest listed company.
In Kenya, SMEs are the mainstay of the economy and are expected to play a permanent role in realizing the Vision 2030, Kenya's evolvement group blueprint. Central Bank Governor Dr. Patrick Njoroge was the keynote speaker for the opening remarks at the Africa SME Finance Forum in Nairobi, which took place May 15-16.
Telenor Group has reached a strategic partnership agreement with Ant Financial Services Group (“Ant Financial”) in Pakistan, where Ant Financial will invest USD 184.5m for a 45% stake in Telenor Microfinance Bank (“TMB”), a subsidiary of Telenor Group, to further develop TMB’s mobile payment and digital financial services.
The new EIF interactive map lets you search for businesses supported by EU-financing in your neighborhood.
