German government to support African SMEs with $2.5m

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The German government has announced it is to provide EUR2 million (US$2.5 million) in funding to the International Trade Centre (ITC) next year to support the ITC’s work with small and medium enterprises (SMEs) in Sub-Saharan Africa.

Ambassador Thomas Fitschen, Germany’s deputy permanent representative to the United Nations (UN) in Geneva, and ITC executive director Arancha González signed the cooperation agreement at ITC headquarters on December 17.

The ITC works to promote sustainable development by enabling SMEs to improve competitiveness and connect to international markets, with a particular emphasis on Sub-Saharan Africa and least-developed countries.

“A particular focus will be helping businesses improve their export performance, and cope with demands arising from the multilateral trading system,” the ITC said.

The German funding will go to ‘Window I’ of the ITC Trust Fund, which prioritises trade-related activities related to the UN Millennium Development Goals of poverty reduction, gender equality, and environmental sustainability, as well as the provision of transparent, trade-related information.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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