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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