Entrepreneurship Development Program (EDP) is a capacity building program for African entrepreneurs in sub-Saharan Africa region, who operate in environments characterized by unorganized markets, almost non-existent sources of financing and very insufficient government support systems. According to official statistics from the Senegalese ministry responsible for SMEs, more than 65% of businesses disappear before their first anniversary date. Micro, Small and medium-sized enterprises (MSMEs), represent 98% of businesses in Senegal, making them the backbone of the Senegalese economy. However, they only benefit from 9% of credits granted to businesses.
The development objective of the EDP program is to strengthen the resilience capacities of 500 African entrepreneurs by 2030. To achieve this objective, two components will be implemented: Training (Component 1) and Business Networking (Component 2).
The Training Component is implemented through the conclusion of agreements with renowned American universities. In this context, CTS MANAGEMENT, the initiator of the program, has entered into a three-year partnership agreement with Bowie State University, a public university of the State of Maryland, member of the prestigious American network called Historically Black Colleges and Universities (HBCUs). The first session will take place from October 14 to 18, 2024 in person at the premises of Bowie State University. The theme will focus on how to develop the Entrepreneurial Mindset of the entrepreneurs attending the training course. The last day of the session will see the participation of American entrepreneurs who will graciously share their experiences and discuss business opportunities with the participants. It should be noted that the university has made practical arrangements for English-French and English-Wolof translation for participants who may need it.
The Business Networking Component will be implemented through the presence of entrepreneurs in business meetings. We have chosen the very attractive World Bank annual meetings to which thousands professionals from development finance institutions, governments, public and private companies, investment funds, foundations, non-governmental organizations, will be invited. Several conferences, forums and seminars about investments, finance, climate change, education, health, energy, transport, digital, etc… will be held as side events of the World Bank meetings. Thus, the entrepreneurs who attend the Bowie State University training session during the week of October 14 to 18, 2024, will participate in this major business event which will be held this year from October 21 to 26, 2024. Other EDP members from ministries, governmental consultative councils, and local development associations will be part of this event. During this week, a special business forum will be organized by the program on October 23, 2024 to which institutions already present in Washington DC, but also American investors, are invited. The program will ensure the coordination during and after said forum. This business networking day is supported by Prince George’s County Council District 6, thanks to Honorable Wala Blegay, Council member, for her involvement mobilizing the local entrepreneurs of the County.
The program has established a monitoring and evaluation system with relevant indicators, quantified annual interim results, as well as a periodic reporting cycle. The achievement of results will be certified by an independent auditor who will transmit the verification reports directly to the main stakeholders.
We will be very happy to collect your feedback for the improvement of this program.
