Invest in Africa plans to attract $500million worth of contracts

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Invest in Africa (IIA), a one stop shop for small and medium enterprises, has unveiled an ambitious plan to attract business opportunities worth $500million in the next four years.

The goal, set out in its Vision 2022 plan, would also see the creation of 100,000 jobs within the target period.

Mr. Clarence Nartey, IIA Ghana Country Director, who announced this, at the fourth anniversary celebration of IIA in Accra, said the not-for-profit organisation, would adopt a three-prong approach to deliver on the objective.

As a first step to achieving the proposal, the model would target high growth medium enterprises with an annual turnover of $250,000 to achieve the goal.

He said the grand purpose is to develop these SMEs to become globally competitive.

“Going forward would develop and train these medium sized enterprises with growth-oriented mindset, ready to scale up, not satisfied at playing at the local level but also playing on the global scale as well,” he said.

In addition, the IIA would also focus on six key prioritised sectors, the financial services, Agriculture, construction, extractives- the oil and gas sector, mining and ICT.

“These are high growth sectors, aligned with long-term government priorities, leaning towards local content compliance and having strong developmental impact because of their ability to create jobs,” he said.

Mr. Nartey said the plan also aims to make IAA a self-sustaining business as companies based on donations are no longer viable in the long-term, exploit fast growing opportunities and to leverage digitalisation to build internal capacity.

“We are also restructuring our internal organisation to ensure structure follow and invest in key partners,” he said.

He said achieving the goals would require a rethink in some of the operating principles, prioritisation and quick mobilisation of internally generated funds.

“We believe on the back of our track record over the last four years and the commitment of our partners both current and incoming ones. We should be able to deliver and contribute to enhancing livelihoods, economic growth and shared prosperity,” he said.

 

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