“More than 20,000 Ivorian SMEs getting their financial health checked”
Ivory Coast, 30th May 2018: – The SMEs in Ivory Coast play a major role in the overall growth of its economy. Therefore, the overall health of the economy depends largely on whether these SMEs are financially healthy and stable.
In order to achieve this goal, the plan is to use MFB’a A.I.-driven scorecards to analyse and diagnose the financial health of up to 20 000 SMEs which are under the patronage of FIPME under two weeks. MFB’s scorecards will sort out the pain points of each SME and provide an extensive financial roadmap on the necessary steps to be taken to solve each. The implications are huge; SMEs will be able to improve their bankability status and thus get easier access to financing. Moreover, as each SME improves its business model, the value of the businesses rises alongside the opportunities to expand, both domestically and internationally.
M Nazri, CEO of MFB said in his speech:
“Imagine you are unwell and visit your doctor. He would tell you what is wrong with you and eventually give you a prescription so that you would get better. Similarly, MFB acts as the doctor for your organization. It diagnoses your business and then prescribes the action steps that need to be taken. Just as you take care of your individual health, it is important to take care of the health of your business”
In line with these, MFB will soon be proceeding to the implementation phase whereby FIPME members’ account will be set up on MFB French version of the portal. Furthermore, MFB plans to reach out to all four customer segments in Ivory Coast namely; financial institutions, professional bodies, government agencies and enterprises by conducting workshops and forums to raise awareness with key stakeholders.