The EU-Africa Chamber of Commerce and the ECOWAS Bank for Investment and Development (EBID) are proud to announce the signing of a Memorandum of Understanding (MoU) on Friday, June 28th , 2024. This agreement was reached during the prestigious 36th Crans Montana Forum held in Brussels, Belgium. The presence of the EU-Africa Chamber of Commerce at this internationally renowned event was pivotal in concluding this agreement.
The MoU was signed by two prominent figures: Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Ms. Sonia Toro, Executive Director of the EU-Africa Chamber of Commerce. This strategic partnership aims to enhance support for local initiatives of small and medium-sized enterprises in Africa in their quest for necessary financing for development.
Objectives and Benefits of the Partnership:
By joining forces, the EU-Africa Chamber of Commerce and EBID are committed to:
- Facilitating access to financing: Identifying and mobilizing financial resources for African SMEs, offering them tailored solutions to meet their specific needs.
- Promoting local initiatives: Supporting innovative projects and local entrepreneurs, thereby contributing to job creation and improving living conditions.
- Strengthening capacities: Implementing training and mentoring programs to help SMEs develop skills in financial management, business strategy, and sustainable development.
- Encouraging international partnerships: Promoting exchanges and cooperation between African and European businesses, creating opportunities for mutual growth.
Upon signing, Ms. Sonia Toro stated, ” We are confident that this Memorandum of Understanding will deliver concrete and lasting results, and that our teams on both sides are ready to get down to work. “
The MoU between the EU-Africa Chamber of Commerce and EBID represents a significant step forward for economic development in West Africa. By actively supporting SMEs, this partnership will contribute to economic growth, job creation, and sustainable development in the region. This partnership exemplifies how participation in international events such as the Crans Montana Forum can catalyse fruitful collaborations, paving the way for large-scale initiatives for economic and social development in West Africa.
