IFAC Small and Medium Practices Forum, Presentation by Fayezul Choudhury

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1) The document outlines the format and agenda for a panel discussion on supporting small and medium enterprise (SME) growth through innovation in Kampala, Uganda. 2) The panel discussion will focus on addressing challenges facing SMEs related to the balance between innovation and regulation, access to knowledge and capital. 3) The panelists will provide their perspectives on creating an environment to nurture SMEs and managing risk and return while minimizing regulation of SMEs versus investor protection.

Brian Kuwik (Lead Discussant)

Senior Vice President and Regional Head, Africa; Accion Brian Kuwik leads and manages Accion's operations and relationships with partners in Africa and Haiti. Accion's regional program aims to improve financial inclusion in the region through equity investments in microfinance banks and other new ventures as well as the provision of management and technical services to Accion Microfinance Bank in Nigeria, Akiba Commercial Bank in Tanzania, EB-Accion in Ghana and Cameroon, SOGESOL in Haiti and other microfinance banks. Mr. Kuwik sits on the boards of these partner banks, plays an active role in governance, and provides strategic and financial advice. He also supervises Accion's technical assistance activities in the areas of strategic and business planning, product and operations development, human resources management, information technology, and risk management from its office in Ghana. Previously, he served as resident advisor and senior manager for Accion partners in Zimbabwe, Uganda and Haiti. He has supported the design and start-up of new institutions in Nigeria, Ghana and Cameroon. Before joining Accion in September 2001, Mr. Kuwik worked for three years at the Small Enterprise Foundation in rural South Africa. Prior to these positions, he was a Fulbright researcher in Cameroon. Mr. Kuwik holds an M.B.A. in finance and international business from the University of Washington and a B.A. in international development from American University.

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The document summarizes the African Business Women (ABW) Connected initiative, which aims to enhance the economic performance of women-led businesses in Africa. The multi-year program will host the first pan-African Summit and Trade Expo in Ethiopia in 2015, bringing together up to 500 leading African businesswomen and students to network, attend skills workshops, and facilitate trade linkages. The goal is to connect female entrepreneurs in key export sectors like crafts/textiles, agribusiness for cosmetics, and tourism to international buyers and each other to help grow their businesses and empower more women across the continent.

Derrick Kotze

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This document outlines the key interest groups that influence Kenya's national trade policymaking process and how they exert their influence. It discusses the major trade reforms Kenya has undertaken, the rationale for stakeholder participation in policymaking, and the roles of different interest groups including the public sector, private sector, civil society organizations, academia, international institutions, and media. It also analyzes how these groups, particularly the private sector, international institutions, and civil society, seek to influence trade policies through various advisory, advocacy, and lobbying activities.

Nyada

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The document provides information about the National Youth Development Agency (NYDA) of South Africa. It summarizes that the NYDA was established in 2009 to facilitate youth development and mainstream youth issues. It has a vision to be a credible and capable development agency for South Africa's youth. The NYDA's focus has shifted from enterprise finance to education and skills development. It offers various programs and services to support economic participation, education, health, policy/research, and governance for South African youth ages 14-35.

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Gbenga Stephen Agoye

This document discusses financing opportunities for development in Mali. It explores integrating the International Development Association to unlock financing. IDA aims to assist the poorest nations in growing more quickly and sustainably by providing affordable development financing. Mali has an economy based on subsistence agriculture and is one of the poorest countries. It needs financing for development to improve infrastructure like roads, internet access, and utilities. The document proposes mobilizing domestic resources, tax reform, harnessing minerals, attracting private investment, public-private partnerships, bonds, and establishing a development bank to provide funding.

This is Africa is an award-winning publication that examines Africa's relationships with the rest of the world through business, policy, and development perspectives. It helps inform politicians and business leaders engaging with Africa through interviews and analysis. For companies that understand Africa's strategic importance, This is Africa provides business information and networking opportunities through conferences and events. It reaches key decision makers at over 25 industry events globally, including forums on mining, energy, investment, and more.

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This document discusses challenges and recommendations regarding intra-African trade. It notes that intra-African trade is currently very low at 12%, compared to over 50% for other regions, due to barriers like lack of infrastructure, complex trade regulations, and low productive capacity. Increasing intra-African trade could boost investment, reduce vulnerability, and be a major opportunity for growth. Key recommendations include improving political cooperation, investing in infrastructure like ports and roads, streamlining customs procedures, facilitating information sharing on business opportunities, and engaging the African diaspora.

Ifc - International Finance Corporation

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Kojabsolo

1. More than 70% of Cameroon's population is youth, but 86% are unemployed or underemployed with limited entrepreneurship opportunities. 2. Main obstacles to youth entrepreneurship include a lack of enabling policies and institutions, weak entrepreneurial environments, and limited access to financing, training, markets and networking. 3. Actions needed are creating a better business environment, providing entrepreneurship education and training, and facilitating youth access to financing, markets and skills development opportunities, including in global and regional supply chains.

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This document discusses the role of innovation hubs in Africa. It notes that mobile broadband penetration in Africa has increased from 2% in 2010 to 11% in 2013. Innovation hubs in Africa function as anchor points for innovation by providing multidisciplinary collaboration, mentors and role models, and infrastructure to support entrepreneurs and startups. Examples of hubs focus on innovation, pre-incubation, incubation, and acceleration. Hubs can take the form of coworking spaces, incubators, or be university-affiliated. Successful hubs have produced solutions to address African issues. Diaspora partnerships can provide hubs access to global markets, financing, and mentorship.

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Accelerating entrepreneurship in Africa

VC4Africa is building a leading peer-to-peer network that connects African based entrepreneurs with the resources (network, knowledge and capital) they require to realize their potential. By our definition, every entrepreneur we engage creates value in the areas of people, planet and profit. Problem Statement Innovative early stage ventures with the potential to yield high social and environmental impact - and requiring less than USD $1 million in financing (the 'S' in SME) - are the most difficult segment of the SME pipeline to reach. This is especially true in the context of Sub-Saharan Africa. Often times early stage ventures have a limited track record and lack the collateral needed to secure debt capital from a local bank. Moreover, local banks and traditional financiers too often do not appreciate the dynamics of the entrepreneur’s specific business and therefore cannot add value beyond financial capital. The cost and complexity of due diligence is one of the limiting factors for those interested and able to invest in this segment. It simply costs too much to find genuine entrepreneurs with a solid business idea and plan—just ask anyone with an SME fund and they’ll tell you how ‘hard it is to find qualified deal flow.’ As a result, most existing SME funds seek larger deals and the highest margin businesses. At the same time, micro-credit is limited in its ability to support high growth businesses beyond small-scale enterprise and leaves entrepreneurs with potential standing on the sideline. This dynamic creates an early stage “vacuum” in which a large number of potentially thriving, innovative companies are either constrained to be micro-enterprises, and hence have a limited impact on economic growth and job creation, or don’t come into existence at all. This tends to shut out promising entrepreneurs in the sub-$1 million financing range indiscriminately, or raises the cost of capital to prohibitively high levels—above the already-high rate of return on capital exhibited by many SMEs—making financing uneconomical. Our Objective VC4Africa exists to fill this vacuum. As the largest network connecting African entrepreneurs, angel investors and early stage VCs, VC4Africa seeks to reduce the barriers to investing in small and growing businesses with high potential to contribute to innovation and economic growth throughout Africa. But we are more than a social network. We seek to leverage our data in meaningful ways to increase access to resources and facilitate successful business and investment connections to African entrepreneurs with currently limited access. VC4Africa develops tools that work to efficiently connect members and, in our community’s drive to fuel innovation, create jobs and bring rapid economic growth to communities throughout the continent.

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This document discusses entrepreneurship and the role of NGOs. It begins with an overview of the basics of entrepreneurship, identifying three main types: necessity entrepreneurs who start businesses due to lack of options, opportunity entrepreneurs who seize business opportunities, and social entrepreneurs who create social value with innovative solutions. It then discusses the entrepreneurial ecosystem and factors like culture, access to finance and markets, infrastructure, and regulations. The document provides examples of entrepreneurship in Indonesia and what some NGOs are doing to support entrepreneurs through activities like microfinance, franchising, business competitions, and strengthening support organizations. It raises questions about why NGOs should engage in entrepreneurship and what more they could do, possibly in partnership with other organizations.

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The document discusses harnessing innovation for wider educational integration in Africa. It argues that the African Diaspora possess wealth of knowledge and innovation needed to advance the continent. However, only 5% of young Africans currently attend college, and they are not being equipped with innovation in education. The document proposes engaging the Diaspora and applying the spirit of innovation in Africa's educational system by utilizing innovative technologies to enhance learning and communicate across borders on the continent.

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This document summarizes a regional conference on investment and inclusive growth in the Middle East and North Africa focusing on small and medium enterprise (SME) policies. It notes that SMEs are important for inclusion, economic growth, and government revenues. SMEs account for a large percentage of jobs in the region but formal employment and new business creation in SMEs is relatively low compared to other regions. The document outlines main challenges for SMEs such as regulatory environments and access to financing, as well as opportunities like growing domestic markets. It recommends policies to improve the business climate, adopt comprehensive SME strategies, and strengthen regional cooperation and capacity building to better support SME development and growth.

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Reciprocal Exchange 2018 Ce programme post-fellowship permet aux coachs américains de voyager travers les 49 pays d’Afrique Sub-Saharienne et de travailler avec les fellows sur des projets sociaux pour l’Afrique. C’est en ce sens que nous avons créé le programme ELITE ( Entrepreneurship Leadership IT Exchange for ladies in Fashion) qui se tiendra du 25 au 29 Juin 2018 à Dakar. Il s’agit d’une semaine de renforcement de capacités pour des jeunes filles dans le domaine de la mode. Elles bénéficieront de sessions pratiques en couture, de sessions en leadership, en business, en entrepreneuriat et elles auront également la chance de rencontrer de grandes stylistes qui partageront leurs propres expériences dans le secteur afin de les motiver à entreprendre, créer leur propre maison de couture.

TUPSA Mission

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TUPSA aims to provide tools, skills, and knowledge to existing and aspiring businesses from economically disadvantaged backgrounds in South Africa. They offer workshops, online facilitation, and mentorship on strategic planning, information sessions, integrated solutions, and access to specific funds to foster economic freedom, security, and equity. A survey found that many small businesses in South Africa lack knowledge about accessing finance, understanding financing procedures, available funding sources, and strategic vision for expansion.

Accelerating African Entrepreneurship

The Africa platform for startup funding. VC4Africa is a fast growing community of entrepreneurs and investors dedicated to building game changing companies on the African continent. Entrepreneurs have access to free online tools, mentorship opportunities and the ability to raise capital. Pro Account users can follow ventures they like, set up intelligent alerts, and connect to members directly. Partners engage the VC4Africa community with their programs and services. Get involved and join the community today!

2015 Report - Venture Finance in Africa

The VC4Africa 2015 Venture Finance in Africa report shows an increasing number of African businesses successfully growing their operations over time. They generate an increasing amount of revenue and add new jobs to the African market place. VC4Africa aims to be the world’s leading social network for entrepreneurs and investors in Africa. The VC4Africa community has over 17,000 members in 159 countries, including 600 investors. 2000 entrepreneurs in Africa present their companies on the platform: early stage ventures that require investments less than USD 1 million. Each venture is scalable, makes smart use of technology, or is disruptive in their application of a business model. There is little information available on this emerging segment and there are few comparative studies. VC4Africa reached out to entrepreneurs and investors part of the community to find out more about their progress. While VC4Africa’s data sets do not represent the total African investment space, the research certainly indicates key trends.

A Win-Win Partnership: SMPs and SMEs

This document summarizes a presentation given by Dawn McGeachy on partnerships between small and medium practices (SMPs) and small and medium enterprises (SMEs). It discusses insights from surveys that SMEs' biggest challenges are access to financing and economic uncertainty, while SMPs' challenges are attracting clients and adapting to regulations. It suggests that SMPs can grow by offering new advisory services to SMEs in areas like compliance, risk management, and sustainability. The document concludes that SMPs and SMEs need each other and can form a mutually beneficial partnership.

IFAC's SMP Related Activities

This document summarizes Giancarlo Attolini's presentation on IFAC's support for small- and medium-sized practices (SMPs) in implementing international standards. It discusses IFAC's SMP Committee and their role in providing input and guidance to SMPs. It also summarizes insights from IFAC's SMP Quick Poll on challenges facing SMPs and their clients. Finally, it provides an overview of proportional application of international standards like ISAs and ISQC1 for SMPs.

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Este documento describe las combinaciones del sector público, incluidas las fusiones y adquisiciones. Una fusión ocurre cuando dos entidades se combinan sin que ninguna obtenga el control de la otra, mientras que una adquisición ocurre cuando una entidad obtiene el control de la otra. Las fusiones se contabilizan usando el método de contabilización de la unión de intereses modificado, mientras que las adquisiciones se contabilizan usando el método de adquisición.

Consolidación

Este documento proporciona una introducción a las Normas Internacionales de Contabilidad del Sector Público (NICSP) 34-38, que establecen los requisitos para la consolidación de estados financieros y la contabilización de inversiones en asociadas y negocios conjuntos. Explica los conceptos clave de control, influencia significativa y control conjunto, y cómo se aplican estas normas dependiendo del tipo de participación que tiene una entidad en otra. También resume los procedimientos de consolidación, contabilización de adquisiciones y disposiciones, y requis

Instrumentos financieros – Revelaciones

Este documento proporciona requisitos de revelación para instrumentos financieros de acuerdo con el Manual de Pronunciamientos de Contabilidad del Sector Público. El objetivo es permitir que los usuarios evalúen la importancia de los instrumentos financieros para la situación financiera de la entidad y la naturaleza y alcance de los riesgos asociados. Se requiere revelar categorías de activos y pasivos financieros, partidas de ingresos y gastos, políticas contables, contabilidad de cobertura, valores razonables, prést

Instrumentos financieros – Cobertura y derivados

El documento habla sobre instrumentos financieros y coberturas. Explica que el objetivo de la contabilidad de coberturas es representar el efecto de las actividades de gestión de riesgos de una entidad. Las relaciones de cobertura pueden ser cobertura del valor razonable, cobertura de flujos de efectivo o cobertura de la inversión neta en el extranjero. También presenta dos ejemplos de cobertura de flujos de efectivo y cobertura del valor razonable.

Instrumentos financieros – Conceptos básicos

Instrumentos financieros – Revelaciones

Este documento presenta los requisitos de revelación para instrumentos financieros según la NICSP 29. Se requiere revelar importes en libros, mediciones de valor razonable, ganancias y pérdidas, información sobre coberturas, préstamos en concesión y riesgos. También se debe revelar la clasificación y medición de activos y pasivos financieros de la entidad, así como tablas con importes en libros y valores razonables. Finalmente, se debe revelar información sobre el riesgo de crédito de los instrumentos derivados de

Instrumentos financieros – Coberturas y derivados