The Lomé International Conference on Financing (CILF) took place in Lomé on January 19 and 20, 2023. Rose Kayi Mivedor, Minister of Investment Promotion, says she dreams of a stronger and bolder private sector.
It was about talking about funding solutions for national, regional and continental champions.
For the Minister, the need for financing still arises acutely but, she noted, the solution is not only bank financing. She specified that there are several financing alternatives, in particular investment funds, venture capital funds, business angels and leasing.
“ It is now necessary to have a strong private sector, which has audacity and ambition and to have competent human resources “said Minister Mivedor.
According to her, the Lomé International Conference on Financing is an event which aims to create frameworks for discussions with actors of various origins and expertise, on topical subjects such as corporate financing and the emergence of true captains of industry (the national champions) in the countries in order to have an economically and financially strong private sector.
” The current global security, political and economic crises have had a significant impact on our economies, inflation, the decline in foreign investment flows to the continent and public policies to support the economy increase the challenges facing our States (…) We must therefore show priority in our public policies and support the private sector, whatever it may be, so that it can fully play its role as a development partner for our States “, underlined the Minister for the promotion of investment.
According to Ms Mivedor, the question of financing SMEs is fundamental. Because for her, the latter represent on average more than 80% of companies on the African continent. They therefore play an important role in the industrial development of their continent.
However, they face several challenges, including access to financing. ” The financial sector, more precisely banks, investment funds, microfinance institutions must necessarily innovate for an increase in the financing of SMEs “, she said.