World Bank's IFC trains small business owners

November 24, 2013 (JUBA) - At least 100 small South Sudanese businessmen and women were last week trained by the International Finance Cooperation (IFC) of the World Bank on managerial skills to grow their businesses.

An additional 54 clients of Equity Bank South Sudan, IFC said in a statement, were also trained in areas such as accounting and finance, marketing, and productivity.

IFC and Equity Bank now plan to extend the training sessions beyond the South Sudan capital, Juba to reach those in smaller cities and rural areas.

"We want to develop a vibrant and competitive local business community in South Sudan that provides quality services and runs sustainable and professional enterprises”, said Paul Gitahi, Equity Bank’s managing director.

During training sessions in Juba, participants reportedly worked with Equity Bank staff to understand the lending cycle and the general requirements for accessing loans and other services from commercial banks.

“This training initiative, in partnership with IFC, is a step in that direction, and our aim is to extend the training to thousands more entrepreneurs in Juba, and across the country”, he added.

Oumar Seydi, IFC Director for East and Southern Africa said they are committed to helping small business owners in South Sudan improve their management skills so they can strengthen their operations and, ultimately, access the financing and markets they need to grow.

“Supporting smaller businesses is part of IFC’s broader strategy to help South Sudan build a strong and a diverse private sector”, he said.

The IFC, through its business edge, has reportedly helped more than 100,000 entrepreneurs in emerging markets around the world improve their skills and profitability.

(ST)