Ivory Coast: 30% of public procurement exclusive to local SMEs
The government has announced new measures to promote the development of Ivorian SMEs.Thirty percent of the Ivorian public procurement market will now be exclusively granted to local small and medium-sized enterprises (SMEs), the government of the West African nation announced last week.
According to government spokesman Nabagné Bruno Koné, this will enable SMEs to be more "efficient".
These companies indeed account for 90 per cent of the country's business but only generate 20 per cent of the country's wealth.
In addition to this exclusivity, Ivorian authorities have promised to facilitate access to bank loans for small businesses.
They have also decided to reduce the amount SMEs must bring as collateral, from the current three per cent of the project cost to 1.5 per cent.
"Policies must provide more capacity for our domestic SMEs. This will help our country build national champions in all sectors," said Mr Nabagné Koné.