The multilateral African Development Bank (AfDB) recently introduced an online service called Mada Business Linkage to facilitate partnerships among companies in Madagascar, including to match firms with suppliers and subcontractors. The Madagascar-based technology company Ingenosya built the platform, which businesses can use for no cost initially. An annual subscription fee is to be implemented in early 2024 to maintain Mada Business Linkage over time.
Adam Amoumoun, AfDB’s Country Manager in Madagascar, said, “This business linkage development programme is an innovative mechanism in that SMEs [small and medium-sized enterprises] now have the means to respond to opportunities offered by large companies and expressed through the online platform.”
The effort is part of the SME Business Linkage Program, which AfDB established in 2020 with a budget of USD 1.4 million to boost Malagasy SMEs’ access to skills training, markets and finance. Among its goals is to foster “large-scale economic development and create better employment opportunities for women and young people.”
AfDB is a member of the AfDB Group, which is owned and funded by 82 member governments. It provides loans and grants to governments and private companies in Africa with the intent of promoting “sustainable growth.” In addition to AfDB, the institution consists of the African Development Fund and the Nigerian Trust Fund. AfDB Group reports XUA 20.7 billion (USD 26.7 billion) in net loans outstanding, XUA 1.4 billion (USD 1.8 billion) in equity participations and total assets of XUA 38 billion (USD 49 billion) as of December 2022.
By Hawra Moochhala, Research Associate
Sources and Additional Resources
AfDB press release
https://www.afdb.org/en/news-and-events/press-releases/madagascar-african-development-bank-launches-digital-platform-drive-business-linkages-64393
SME Business Linkage Program webpage
https://www.blp.mg/
Ingenosya homepage
https://www.ingenosya.com/
AfDB homepage
https://www.afdb.org
AfDB Annual Report (2022)
https://www.afdb.org/en/documents/financial-report-2022
Previous MicroCapital article on AfDB
https://www.microcapital.org/microcapital-brief-african-development-bank-afdb-disbursing-1-6m-for-green-finance-in-benin-cote-divoire/
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