The International Finance Corporation (IFC), the investment arm of the World Bank Group, recently completed a program that helped fifty women entrepreneurs in Mozambique acquire business management skills and gain access to financing from Banco Comercial e de Investimentos (BCI), a commercial bank in Mozambique. The two-week program was organized by BCI and IFC’s Women in Business and Small and Medium-Sized Enterprise (SME) Management Solutions programs.
Participants were grouped according to their business needs to learn about budgeting, cost control, business planning and marketing strategy using IFC’s Business Edge training product, which is the organization’s proprietary management training solution. The training was delivered by Process – Consultoria e Formacao and International Capital Corporation (ICC), partners of Business Edge that specialize in vocational education and consulting.
By Julie Moksim, Research Associate
About the International Finance Corporation (IFC): A member of the World Bank Group, the International Finance Corporation (IFC) offers loan and debt securities, equity investments, advisory services and technical assistance intended to alleviate poverty and promote open and competitive markets in developing countries. The IFC has 182 member countries that “collectively determine its policies, and approve investments.” In fiscal year 2009, IFC’s new investments totaled USD 14.5 billion.
About Banco Comercial e de Investimentos (BCI): BCI was established in 1996 in Mozambique as an investment bank. In April 1997 it began operations as a commercial bank following a change in its shareholder structure whereby Caixa Geral de Depositos (CGD), a Portuguese Bank, acquired a 60 percent stake in BCI. As of 2010, CGD maintains a 51 percent stake in BCI. Other major shareholders include Banco BPI with a 30 percent stake and Groupo Insitec with an 18 percent stake.
Sources and Additional Resources:
International Finance Corporation Press Release: “IFC Helps Train Women Entrepreneurs with Mozambique’s Banco Comercial e de Investimentos”, February 22, 2011, http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=582E6B7E4E9FA4078525783F0059EC69
MicroCapital’s Microfinance Universe Profile: International Finance Corporation (IFC)
MicroCapital’s Microfinance Universe Profile: Banco Comercial e de Investimentos (BCI)
Browse the MicroCapital Universe and add your entry to our wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: EBRD Purchases 5% Equity Stake in ProCredit from IFC, Increasing Exposure to SMEs in Europe, Ecuador
- MICROCAPITAL BRIEF: Hamkorbank of Uzbekistan Borrows $50m from FMO to Fund SMEs Owned by Women, Youth; Microenterprise; Climate Projects
- MICROFINANCE PAPER WRAP UP: “Women Agents for Financial Inclusion: Exploring the Benefits, Constraints and Potential Solutions,” by Emilio Hernandez et al, Published by CGAP
- MICROCAPITAL BRIEF: Kashf Foundation of Pakistan Borrows in Local Currency from SEB Microfinance Funds, Arranged by Symbiotics
- MICROFINANCE EVENT: Cracking the Nut: Reducing Risk in Rural and Agricultural Investment; June 12-13, 2023; Washington, DC, USA
