IFC and the South Sudan Business Forum organized a five-day training program attended by representatives from 15 banks, including the Central Bank of South Sudan. The training is the first of a planned series of initiatives designed to increase access to finance for smaller businesses in South Sudan, which often lack the financial support they need to grow.

 

IFC’s Director of Easter and Southern Africa, Jean Philippe Prosper, said, “These partnerships will support the growth of smaller businesses in South Sudan, giving them the chance to grow, plan ahead, and hire more employees. Working with local banks to help them develop products and enhance services for smaller businesses is a major focus of IFC’s work in Africa.”

 

Director General for Supervision, Research and Statistics of the Central Bank of South Sudan, Daniel Kech Puoch, said, “Micro and small businesses are the backbone of every economy and we believe that developing and equipping our bankers with the skills to better serve this segment will have a positive impact on the economic development of South Sudan.

 

The training was organized by IFC’s Africa Micro, Small and Medium Enterprise Program, which supports commercial banks seeking to establish or expand their MSME banking services while maintaining or improving the quality of their portfolio. Since 2006, the program has provided advisory services to and invested more than $100 million in 22 banks in 16 countries across Africa.

 

The training also included a session from IFC’s Trade Finance program.

 

IFC is supporting private sector development in South Sudan and in seven other countries in sub Saharan through its Conflict Affected States in Africa (CASA) Initiative. CASA helps countries recovering from conflict create the right conditions for business growth and supports small and medium enterprises.  In South Sudan, IFC is helping iattract investment and is facilitating public-private partnerships to spur infrastructure development.

 

 

About IFC

IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org .