OPIC Selects Innovex Development Consulting Limited as Originator in Enterprise Development Network
September 22, 2012
(OPIC)
WASHINGTON, D.C. –The Overseas Private
Investment Corporation (OPIC) has selected
INNOVEX Development Consulting Limited, a
Pan-African advisory and assurance services
firm based in Dar es Salaam, Tanzania, to serve
as an originator for a growing alliance with
the private sector designed to support small
and medium-sized enterprises (SMEs) expanding
into emerging markets overseas.
The alliance, the Enterprise Development
Network (EDN), is expanding the ability of OPIC
– the U.S. government agency charged with
facilitating U.S. private sector investment in
emerging markets – to provide financing to SMEs
doing business in developing countries.
Through the support of financial institutions,
business consultants, associations, law firms
and regional investment promotion agencies, EDN
is designed to enhance SME access to OPIC
products and services. By empowering such
service providers, the network is resulting in
more efficient, cost-effective delivery of
services to American businesses.
INNOVEX, established six years ago in Tanzania,
is a fast-growing Pan-African advisory and
assurance services firm, and one of Africa’s
leading development consulting organizations
operating in Africa. INNOVEX has a pool of
full-time business and financial analysts
available to support businesses seeking equity
or debt financing, who conduct market research,
assess investment potential, and develop
project feasibility studies and business plans.
In May of this year, two senior INNOVEX staff
attended a three-day EDN-Moody’s Analytics
training on Emerging Markets Finance
Fundamentals in Kigali, Rwanda and received
official certification from Moody’s Analytics.
INNOVEX services include: helping clients to
obtain OPIC financing and political risk
insurance; pre-qualifying investment projects;
and preparing and submitting OPIC applications.
INNOVEX focuses on providing all these services
in Africa, where the return on investment for
most businesses is high. INNOVEX also targets
investment projects in OPIC priority sectors,
including sustainable agriculture; renewable
energy; sustainable management of natural
resources; housing and mortgage finance;
microfinance; transportation infrastructure;
water and sanitation; tourism;
telecommunications; and medical equipment and
hospital facilities.
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