Ibec has announced details of a joint programme with the Department of Foreign Affairs, called Winning Business in Africa, to help Irish businesses compete with their European counterparts for billions of European Development Funds (EDF) that have been earmarked for projects up to 2020.
The progamme is described as a one-stop-shop for companies that provides the information and support needed to bid on more than 200 projects in Sub-Saharan countries worth €7 billion.
The database is backed up with advice and support from funding experts Schuman Associates, for companies that want to access these contracts.
While Irish export trade with Africa has decreased in recent years, currently standing at a value of €1.32 billion, there is now an opportunity to drive growth, as Sub-Saharan countries experienced growth 3.8 per cent last year.
This is why, Ibec says, Winning Business in Africa is focused on key growth sectors, critical for economic development. There are currently over 200 projects for businesses to get involved with, including those in infrastructure and engineering (collectively worth €3.7 billion), agriculture (€1.5 billion) and ICT (€1 billion).
Ibec Director of Corporate, Strategic and International Affairs Mary Rose Burke commented, "Ibec's Winning Business in Africa online portal now includes more than 200 European Development Fund projects amounting to €7 billion in opportunities.
"Africa is not an easy market to tap into, but these EDF contracts offer low-risk entry with pre-approved funding. A number of companies have had success in Africa and we are now encouraging more companies to bid on these projects."
Ibec Director of the Irish Engineering Enterprises Federation, Mark McAuley added, "Irish company, PM Group, recently gained approval to work with the Ministry of Health in Zambia on a €2.5 million project to assist the Zambia Medicines Regulatory Authority to ensure quality control.
"Some Irish companies may be too small to bid for these projects, but there is a chance now for partnering-up, networking and cooperation with other companies. Irish companies who register will get early notice of new contracts, making it easier for them to expand across key sectors such as engineering where there is a €3.7 billion fund available."
Minister for Foreign Affairs and Trade, Charlie Flanagan said of the programme, “Trade relationships between Irish and African companies facilitate economic progress at home and abroad and, following my own visit to Africa last year, leading a trade mission, I believe there is great scope to establish new partnership arrangements."
© 2016 - Checkout Magazine by Jenny Whelan
