I&P partners with Kiva
Over the past decade, Africa has experienced unprecedented growth, with 5-6% growth rate at the continent level. However, this growth remains heterogeneous, fragile, insufficient and unevenly distributed. Small and medium-sized enterprise (SMEs) are at the core of the African economic fabric; they are the largest contributors to job creation and are key actors for political and social stability. However, most of these SMEs lack access to the necessary funding that will fuel their growth. Since 2002, I&P has supported more than 45 companies in over 13 African countries, contributing to create and retain more than 1,400 jobs.
Investisseurs & Partenaires (I&P) considers crowdfunding, this participative finance tool, as complementary to its existing financial instruments. I&P has decided to partner with Kiva, the US-based crowdfunding pioneer, which has raised more than $500 million from 1.2 million internet users since its inception in 2005. The Kiva web platform brings together thousands of individuals and micro-borrowers in order to help them start or expand their businesses or finance a personal project, contributing to alleviate poverty across the world.
The pilot is a project by CDS, a Mauritanian company in the IPDEV portfolio since 2009. It will be online on www.kiva.org for funding next week. With this innovation, I&P continues to drive its mission of promoting a new generation of African entrepreneurs who will contribute to the emergence of a sustainable and dynamic private sector on the continent.
To view a video of the project click here